XML 11 R1.htm IDEA: XBRL DOCUMENT v3.24.0.1
Cover - shares
 3 Months Ended
Mar. 31, 2023
May 17, 2023
Document Information [Line Items]    
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2023  
Document Transition Report false  
Entity File Number 001-41468  
Entity Registrant Name D-WAVE QUANTUM INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 88-1068854  
Entity Address, Address Line One 2650 East Bayshore Road  
Entity Address, City or Town Palo Alto  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94303  
City Area Code 604  
Local Phone Number 630-1428  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   80,600,419
Entity Central Index Key 0001907982  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q1  
Amendment Flag true  
Amendment Description EXPLANATORY NOTED-Wave Quantum Inc. (“D-Wave”, “we”, “our”, “us” or the “Company”) is filing this Amendment No. 1 on Form 10-Q (the "Form 10-Q/A” or “Amendment No. 1”) to amend and restate certain items in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 originally filed with the Securities and Exchange Commission (“SEC”) on May 19, 2023 by the Company (the “Original Form 10-Q”). This Form 10-Q/A restates the Company’s previously issued consolidated financial statements as of and for the three month periods ended March 31, 2023 and 2022. See Note 3 - Restatement of Previously Issued Condensed Consolidated Financial Statements, in Part I, Item 1, Financial Statements, for additional information.Restatement BackgroundOn January 30, 2024, the Audit Committee of the Board of Directors of the Company, after discussions with the Company's management and its current and former independent registered public accounting firms, respectively, determined that the Company’s (i) audited financial statements included in the Company’s original Form 10-K for the periods ended December 31, 2022, 2021, and 2020 (the "Audited Financial Statements"), filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 18, 2023, and (ii) unaudited financial statements included in each of the Company’s Quarterly Reports on Form 10-Q for the periods ending September 30, 2023 (the "Q3 2023 Form 10-Q"), June 30, 2023 (the "Q2 2023 Form 10-Q"), and March 31, 2023 (the "Q1 2023 Form 10-Q," and together with the Q2 2023 Form 10-Q and the Q3 2023 Form 10-Q, the "2023 Form 10-Qs") (the "unaudited Financial Statements," and together with the Audited Financial Statements, the "Financial Statements"), filed with the SEC on November 9, 2023, August 10, 2023, and May 10, 2023, respectively, as well as the Registration Statements on Forms S-1 and S-4 (Registration Nos. 333-269732, 333-267126, 333-267124 and 333-263573) initially filed with the SEC on February 13, 2023, August 29, 2022, August 29, 2022, and March 15, 2022, respectively which include the Financial Statements (collectively, the “Affected Periods”), as well as the relevant portions of any communication which describe or are based on the Financial Statements, should no longer be relied upon. The Company is restating the Financial Statements for the Affected Periods in the Form 10-K/A, filed with the SEC on March 15, 2024, this Form 10-Q/A and amendments to the other 2023 Form 10-Qs (collectively, the “Restatement”).As described in Item 4.02 of the Company’s Form 8-K filed with the SEC on February 2, 2024, we identified certain misstatements in prior periods’ consolidated financial statements relating to accounting for certain government assistance arrangements originated prior to 2021 in the form of conditionally repayable loans with below-market interest rates (the “Arrangements”).In connection with the preparation of the financial statements for fiscal year 2023, it was determined that the Arrangements were not properly accounted for. The Company initially accounted for these arrangements by analogizing to IAS 20 and IFRS 9, under which the fair value of the interest rate subsidy is recognized as income and the amount repayable is discounted by imputing a market rate of interest. During the preparation of the financial statements for fiscal year 2023, the Company determined that the debt-like characteristics of the Arrangements placed them in the scope of certain U.S. GAAP guidance that precludes imputation of interest where interest rates are affected by tax attributes or legal restrictions prescribed by a governmental agency. As such, the Company restated other income from government assistance and interest expense on the consolidated statements of operations and research incentives receivable and loans payable on the consolidated balance sheets to eliminate the effect of non-cash interest imputation. An error related to the compound annual growth rate input in the estimation of debt repayment cash flows was also corrected.Items Amended in this FilingThis Form 10-Q/A amends and restates the following items included in the Original Form 10-Q as appropriate to reflect the Restatement and revision of the relevant periods:•Part I, Item 1-Financial Statements (Unaudited);•Part I, Item 2-Management’s Discussion and Analysis of Financial Condition and Results of Operations;•Part I, Item 4-Controls and Procedures; and•Part II, Item 1A-Risk Factors.The Company is including with this Form 10-Q/A currently dated certifications of the Company’s Chief Executive Officer and Chief Financial Officer (Exhibits 31.1, 31.2, 32.1, and 32.2). Except as discussed above and as further described in Note 3 to the Condensed Consolidated Financial Statements in this Form 10-Q/A, the Company has not modified or updated the disclosures presented in the Original Form 10-Q to reflect events that occurred at a later date or facts that subsequently became known to the Company. Accordingly, forward-looking statements included in this Amendment No.1 may represent management’s views as of the Original Form 10-Q and should not be assumed to be accurate as of any date thereafter.  
Common stock, par value $0.0001 per share    
Document Information [Line Items]    
Title of 12(b) Security Common stock, par value $0.0001 per share  
Trading Symbol QBTS  
Security Exchange Name NYSE  
Warrants, each whole warrant exercisable for 1.4541326 shares of common stock at an exercise price of $11.50    
Document Information [Line Items]    
Title of 12(b) Security Warrants, each whole warrant exercisable for 1.4541326 shares of common stock at an exercise price of $11.50  
Trading Symbol QBTS.WT  
Security Exchange Name NYSE