Levi & Korsinsky Reminds D-Wave Quantum Inc. Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of December 15, 2026 - QBTS

Promise vs. Reality: The D-Wave Performance Gap. A securities fraud lawsuit alleges D-Wave overstated its prospects while calling 2026 a "defining year," then reported second quarter revenue below the prior-year level.

NEW YORK, Nov. 11, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP highlights the contrast between what D-Wave Quantum Inc. (NYSE: QBTS) promised shareholders and what it later reported. A securities class action is pending on behalf of investors who purchased between February 26, 2026 and August 25, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

On February 26, 2026, management said D-Wave was entering 2026 with "exceptional momentum" and that 2026 was "shaping up to be a defining year for D-Wave." On August 6, the Company reported second quarter revenue of $3.08 million, below the $3.1 million posted a year earlier. QBTS fell $1.99 per share that day and another $1.84 per share after an August 25 announcement that the Chief Financial Officer would retire. LEAD PLAINTIFF DEADLINE: December 15, 2026.

The Promise and the Reality

The Company projected confidence again on May 12, 2026, describing its first quarter performance as reflecting "strong execution" and "expanding commercial adoption." It cited a record-setting $10 million quantum computing as a service agreement with a Fortune 100 company and the acquisition of Quantum Circuits, Inc.

Less than three months later, the second quarter report told a different story. According to the lawsuit, the growth narrative and the reported numbers had diverged.

Promise vs. Actual: By the Numbers

• Momentum vs. revenue: The Company promoted over $30 million in January 2026 Bookings, yet second quarter revenue of $3.08 million still trailed the prior year's $3.1 million.
• Execution vs. expectations: After management claimed "strong execution" on May 12, 2026, revenue came in roughly $950,000 to $1.0 million below analyst estimates of $4.03 million to $4.08 million.
• Adoption vs. results: The Company said a $10 million Fortune 100 agreement reinforced growing demand, but the following quarter produced no year-over-year revenue growth.
• Market verdict: QBTS fell 9.28% to $19.41 on August 6, 2026, then fell 9.51% to $17.51 on August 26, 2026, following the Chief Financial Officer retirement announcement.

What the Lawsuit Alleges About the D-Wave Promise-Reality Gap

The complaint alleges that defendants materially overstated D-Wave's business and financial prospects. It further alleges that defendants failed to disclose that this overstatement was reasonably likely to harm the Company's business and reputation. Plaintiffs assert that Class Period purchasers paid prices inflated by those statements, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. Here, the complaint alleges D-Wave called 2026 a defining year while overstating its prospects, and second quarter revenue then came in below the prior year. Whether investors received an accurate picture of that outlook is the central question this case raises." -- Joseph E. Levi, Esq.

Learn more about the case or call (212) 363-7500.

Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com | Attorney Advertising. Prior results do not guarantee similar outcomes.

Frequently Asked Questions About the QBTS Lawsuit

Q: What specific misstatements does the QBTS lawsuit allege? A: The complaint alleges D-Wave Quantum Inc. made materially false or misleading statements during the Class Period about its business and financial prospects, including its growth and operational momentum. The stock price declined sharply after two disclosures: second quarter 2026 revenue of $3.08 million, which fell short of analyst expectations of $4.03 million to $4.08 million, and the announced resignation of the Company's Chief Financial Officer.

Q: When did D-Wave Quantum Inc. allegedly mislead investors? A: The Class Period runs from February 26, 2026 to August 25, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the QBTS class action filed in? A: The case was filed in the United States District Court for the Northern District of California, governed by the Private Securities Litigation Reform Act of 1995.

Q: What do QBTS investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.

Q: What if I already sold my QBTS shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP