D-Wave Quantum (QBTS) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	3033 Beta Avenue
Entity Address, City or Town	Burnaby
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V5G 4M9
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		63,096,354
Entity Central Index Key	0001907982
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash		$ 13,764	$ 9,483
Trade accounts receivable, net		740	421
Receivable research incentives		1,052	4,774
Inventories		2,533	2,114
Prepaid expenses and other current assets		8,190	1,116
Deferred offering costs		0	1,250
Total current assets		26,279	19,158
Property and equipment, net		2,537	3,249
Operating lease right-of-use assets		8,066	8,578
Intangible assets, net		262	272
Other noncurrent assets		1,345	1,353
Total assets		38,489	32,610
Current liabilities:
Trade accounts payable		3,158	2,109
Accrued expenses and other current liabilities		5,318	3,614
Current portion of operating lease liabilities		1,461	1,687
Current portion of long term debt, net		2,232	220
Deferred revenue, current		1,989	2,665
Promissory note - related party		420	0
Total current liabilities		14,578	10,295
Warrant liabilities		5,498	0
Operating lease liabilities, net of current portion		6,211	6,990
Loans payable, noncurrent		12,912	12,233
Deferred revenue, noncurrent		0	54
Other noncurrent liabilities		0	18
Total liabilities		39,199	29,590
Commitments and contingencies (Note 10)
Stockholders' (deficit) equity:
Non-redeemable convertible preferred stock*, no par value; nil shares and 122,564,333 shares authorized as of September 30, 2022 and December 31, 2021, respectively; nil shares and 122,564,333 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively.	[1]	0	189,881
Common stock*, par value $0.0001 per share; 675,000,000 shares and unlimited shares authorized at September 30, 2022 and December 31, 2021, respectively; 110,377,357 shares and 2,817,498 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively.	[1]	11	0
Additional paid-in capital		372,840	148,850
Accumulated deficit		(363,136)	(325,268)
Accumulated other comprehensive loss		(10,425)	(10,443)
Total stockholders' (deficit) equity		(710)	3,020
Total liabilities and stockholders’ equity		$ 38,489	$ 32,610
[1]Shares of legacy non-redeemable convertible preferred stock and legacy common stock have been retroactively restated to give effect to the Business Combination.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, authorized (in shares)	0	122,564,333
Preferred stock, issued (in shares)	0	122,564,333
Preferred stock, outstanding (in shares)	0	122,564,333
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	675,000,000
Common stock, issued (in shares)	110,377,357	2,817,498
Common stock, outstanding (in shares)	110,377,357	2,817,498

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue		$ 1,695	$ 1,307	$ 4,778	$ 3,853
Cost of revenue		609	307	1,778	873
Total gross profit		1,086	1,000	3,000	2,980
Operating expenses:
Research and development		7,334	6,313	20,933	19,268
General and administrative		6,921	2,801	14,527	7,831
Sales and marketing		2,099	1,679	5,438	3,975
Total operating expenses		16,354	10,793	40,898	31,074
Loss from operations		(15,268)	(9,793)	(37,898)	(28,094)
Other income (expense), net:
Interest expense		(1,336)	(205)	(3,874)	(590)
Government assistance		0	4,560	0	9,146
Gain on investment in marketable securities		0	1,164	0	1,164
Change in fair value of warrant liabilities		2,603	0	2,603	0
Other income, net		948	65	1,301	669
Total other income, net		2,215	5,584	30	10,389
Net loss		$ (13,053)	$ (4,209)	$ (37,868)	$ (17,705)
Net loss per share, basic (in usd per share)		$ (0.11)	$ (0.03)	$ (0.31)	$ (0.14)
Net loss per share, diluted (in usd per share)		$ (0.11)	$ (0.03)	$ (0.31)	$ (0.14)
Weighted-average shares used in computing net loss per share, basic (in shares)	[1]	116,256,805	125,362,390	122,337,727	125,331,065
Weighted-average shares used in computing net loss per share, diluted (in shares)	[1]	116,256,805	125,362,390	122,337,727	125,331,065
Comprehensive loss:
Net loss		$ (13,053)	$ (4,209)	$ (37,868)	$ (17,705)
Foreign currency translation adjustment, net of tax		56	29	18	40
Net comprehensive loss		$ (12,997)	$ (4,180)	$ (37,850)	$ (17,665)
[1]Weighted-average shares have been retroactively restated to give effect to the Business Combination.

Condensed consolidated statem_2

Condensed consolidated statements of stockholders’ (deficit) equity - USD ($) $ in Thousands	Total	ELOC	PIPE	Previously Reported	Revision of Prior Period, Adjustment	Non-redeemable convertible preferred stock	Non-redeemable convertible preferred stock Previously Reported	Non-redeemable convertible preferred stock Revision of Prior Period, Adjustment	Common stock	Common stock ELOC	Common stock PIPE	Common stock Previously Reported	Common stock Revision of Prior Period, Adjustment	Additional paid-in capital	Additional paid-in capital ELOC	Additional paid-in capital PIPE	Additional paid-in capital Previously Reported	Additional paid-in capital Revision of Prior Period, Adjustment	Accumulated deficit	Accumulated deficit Previously Reported	Accumulated deficit Revision of Prior Period, Adjustment	Accumulated other comprehensive loss	Accumulated other comprehensive loss Previously Reported	Accumulated other comprehensive loss Revision of Prior Period, Adjustment
Preferred stock, balance (in shares) at Dec. 31, 2020						122,564,333	137,765,828	(15,201,495)
Common stock, balance (in shares) at Dec. 31, 2020									2,723,903			3,061,746	(337,843)
Balance at Dec. 31, 2020	$ 30,237			$ 32,729	$ (2,492)	$ 189,881	$ 189,881	$ 0	$ 0			$ 2,492	$ (2,492)	$ 144,537			$ 144,537	$ 0	$ (293,723)	$ (293,723)	$ 0	$ (10,458)	$ (10,458)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)									74,770
Exercise of stock options	(30)													(30)
Stock-based compensation	555													555
Foreign currency translation adjustment, net of tax	40																					40
Net loss	(17,705)																		(17,705)
Preferred stock, balance (in shares) at Sep. 30, 2021						122,564,333
Common stock, balance (in shares) at Sep. 30, 2021									2,798,673
Balance at Sep. 30, 2021	13,097					$ 189,881			$ 0					145,062					(311,428)			(10,418)
Preferred stock, balance (in shares) at Jun. 30, 2021						122,564,333	137,765,828	(15,201,495)
Common stock, balance (in shares) at Jun. 30, 2021									2,796,004			3,142,789	(346,785)
Balance at Jun. 30, 2021	17,053			19,639	(2,586)	$ 189,881	$ 189,881	$ 0	$ 0			$ 2,586	$ (2,586)	144,838			144,838	0	(307,219)	(307,219)	0	(10,447)	(10,447)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)									2,669
Exercise of stock options	(1)													(1)
Stock-based compensation	225													225
Foreign currency translation adjustment, net of tax	29																					29
Net loss	(4,209)																		(4,209)
Preferred stock, balance (in shares) at Sep. 30, 2021						122,564,333
Common stock, balance (in shares) at Sep. 30, 2021									2,798,673
Balance at Sep. 30, 2021	$ 13,097					$ 189,881			$ 0					145,062					(311,428)			(10,418)
Preferred stock, balance (in shares) at Dec. 31, 2021	122,564,333					122,564,333	137,765,828	(15,201,495)
Common stock, balance (in shares) at Dec. 31, 2021	2,817,498								2,817,498			3,166,949	(349,451)
Balance at Dec. 31, 2021	$ 3,020			3,020	0	$ 189,881	$ 189,881	$ 0	$ 0			$ 2,610	$ (2,610)	148,850			146,240	2,610	(325,268)	(325,268)	0	(10,443)	(10,443)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon conversion of D-Wave Systems preferred stock in connection with the Business Combination (Note 3) (in shares)						(122,564,333)			96,764,117
Issuance of common stock upon conversion of D-Wave Systems preferred stock in connection with the Business Combination (Note 3)	0					$ (189,881)			$ 10					189,871
Issuance of common stock (in shares)		381,540								381,540	5,816,528
Issuance of common stock		$ 3,271	$ 40,000								$ 1				$ 3,271	$ 39,999
Business Combination, net of redemptions and transaction costs (Note 3) (in shares)									4,327,512
Business Combination, net of redemptions and transaction costs (Note 3)	$ (13,828)													(13,828)
Exercise of stock options (in shares)	174,378								155,137
Exercise of stock options	$ 72													72
Exercise of warrants (in shares)	115,025								115,025
Exercise of warrants	$ 910													910
Stock-based compensation	3,695													3,695
Foreign currency translation adjustment, net of tax	18																					18
Net loss	$ (37,868)																		(37,868)
Preferred stock, balance (in shares) at Sep. 30, 2022	0					0
Common stock, balance (in shares) at Sep. 30, 2022	110,377,357								110,377,357
Balance at Sep. 30, 2022	$ (710)					$ 0			$ 11					372,840					(363,136)			(10,425)
Preferred stock, balance (in shares) at Jun. 30, 2022						122,564,333	137,765,828	(15,201,495)
Common stock, balance (in shares) at Jun. 30, 2022									2,972,635			3,341,327	(368,692)
Balance at Jun. 30, 2022	(20,093)			$ (20,093)	$ 0	$ 189,881	$ 189,881	$ 0	$ 0			$ 2,811	$ (2,811)	150,590			$ 147,779	$ 2,811	(350,083)	$ (350,083)	$ 0	(10,481)	$ (10,481)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon conversion of D-Wave Systems preferred stock in connection with the Business Combination (Note 3) (in shares)						(122,564,333)			96,764,117
Issuance of common stock upon conversion of D-Wave Systems preferred stock in connection with the Business Combination (Note 3)	0					$ (189,881)			$ 10					189,871
Issuance of common stock (in shares)										381,540	5,816,528
Issuance of common stock		$ 3,271	$ 40,000								$ 1				$ 3,271	$ 39,999
Business Combination, net of redemptions and transaction costs (Note 3) (in shares)									4,327,512
Business Combination, net of redemptions and transaction costs (Note 3)	(13,828)													(13,828)
Exercise of warrants (in shares)									115,025
Exercise of warrants	910													910
Stock-based compensation	2,027													2,027
Foreign currency translation adjustment, net of tax	56																					56
Net loss	$ (13,053)																		(13,053)
Preferred stock, balance (in shares) at Sep. 30, 2022	0					0
Common stock, balance (in shares) at Sep. 30, 2022	110,377,357								110,377,357
Balance at Sep. 30, 2022	$ (710)					$ 0			$ 11					$ 372,840					$ (363,136)			$ (10,425)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		127,180	5,816,528
Common stock, balance (in shares) at Aug. 05, 2022	110,007,972

Condensed consolidated statem_3

Condensed consolidated statements of cash flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (13,053)	$ (4,209)	$ (37,868)	$ (17,705)
Adjustments to reconcile net loss to cash used in by operating activities:
Depreciation and amortization			1,038	1,135
Allowance for doubtful accounts			1	0
Stock-based compensation			3,695	555
Amortization of operating right of use assets			590	764
Provision for excess and obsolete inventory			265	215
Non-cash interest expense on government payable			1,902	601
Venture loan interest and final payment fee			1,808	0
Grant income			0	(9,135)
Change in fair value of warrant liabilities	(2,603)	0	(2,603)	0
Non-cash lease expense			0	(756)
Gain on investment in marketable securities	0	(1,164)	0	(1,164)
Unrealized foreign exchange loss (gain)			(1,226)	15
Change in operating assets and liabilities:
Trade accounts receivable			(320)	(334)
Research incentives receivable			579	(10,374)
Inventories			(684)	(29)
Deferred offering costs			1,250	0
Prepaid expenses and other current assets			(7,074)	(929)
Trade accounts payable			1,049	(1,081)
Right-of-use assets			(97)	0
Accrued expenses and other current liabilities			1,704	(313)
Deferred revenue, current			(730)	(148)
Loan program payable			0	11,068
Current portion of long-term debt			2,893	0
Operating lease liability			(442)	0
Net cash used in operating activities			(34,270)	(27,615)
Cash flows from investing activities:
Purchase of property and equipment			(249)	(1,493)
Purchase of software			(67)	(214)
Net cash used in investing activities			(316)	(1,707)
Cash flows from financing activities:
Proceeds from issuance of common stock from the PIPE investment (Note 3)			40,000	0
Business Combination, net of redemption and transaction costs (Note 3)			4,100	0
Transaction costs paid directly by D-Wave Systems			(6,528)	0
Proceeds from exercise of public warrants			910	0
Proceeds from promissory note - related party			420	0
Proceeds from government assistance			3,124	16,346
Proceeds from issuance of common stock upon exercise of stock options			72	66
Proceeds from debt financing			19,870	0
Payment for directors and officers insurance			(864)	0
Debt payments			(20,000)	(23)
Venture loan interest and final payment fee			(1,808)	0
Government loan payment			(398)	(399)
Net cash provided by financing activities			38,898	15,990
Effect of exchange rate changes on cash and cash equivalents			(31)	42
Net (decrease) increase in cash and cash equivalents			4,281	(13,290)
Cash and cash equivalents at beginning of period			9,483	21,335	$ 21,335
Cash and cash equivalents at end of period	$ 13,764	$ 8,045	13,764	8,045	$ 9,483
Supplemental disclosure of noncash investing and financial activities:
Initial warrant liabilities recognized in connection with closing of Business Combination			8,101	0
Non-cash Business Combination financing			(11,400)	0
Stock Issued			3,271	0
Conversion of convertible preferred stock to common stock			189,871	0
Public Warrants
Adjustments to reconcile net loss to cash used in by operating activities:
Change in fair value of warrant liabilities			(1,483)	0
Private Warrants
Adjustments to reconcile net loss to cash used in by operating activities:
Change in fair value of warrant liabilities			$ (1,120)	$ 0

Description of business

Description of business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of business	Description of business D-Wave Quantum Inc. ("D-Wave" or the “Company”) was incorporated as a corporation organized and existing under the General Corporation Law of the State of the Delaware on January 24, 2022. The Company was formed for the purpose of effecting a merger between DPCM Capital, Inc. (“DPCM”), D-Wave Systems Inc. (“D-Wave Systems”), and certain other affiliated entities through a series of transactions (the “Business Combination”) pursuant to the definitive agreement entered into on February 7, 2022 (the “Transaction Agreement”). On August 5, 2022, in conjunction with the Business Combination, DPCM and D-Wave Systems became wholly-owned subsidiaries of, and are operated by, the Company. Upon the completion of the Business Combination, the Company succeeded to all of the operations of its predecessor, D-Wave Systems. For the three and nine month periods ended September 30, 2022 and 2021, the Company’s revenue was derived primarily from customers located in the United States, Japan, and Germany.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Company has prepared the accompanying condensed consolidated financial statements in accordance with the accounting principles generally accepted in the United States of America ("U.S. GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”) and pursuant to the regulations of the U.S. Securities and Exchange Commission ("SEC"). The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, DPCM, as a direct wholly-owned subsidiary of D-Wave, who is the legal acquirer, was treated as the "acquired" company for financial reporting purposes and D-Wave Systems was treated as the accounting acquirer. This determination was primarily based on the following factors: (i) D-Wave Systems' existing stockholders have the majority of the voting interest in the combined entity with an approximate 91% voting interest; (ii) the combined company's board of directors have seven board members consisting of one board member designated by DPCM, three board members retained from the D-Wave Systems' board, and three additional, independent board members; (iii) D-Wave Systems' senior management comprises all the senior management of the combined company; and (iv) D-Wave Systems' existing operations comprise the ongoing operations of the combined company. In accordance with guidance applicable to these circumstances, the Business Combination was treated as the equivalent of D-Wave Systems issuing stock for the net assets of DPCM, accompanied by a recapitalization. The net assets of DPCM were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of D-Wave Systems. As a result, the condensed consolidated financial statements included herein reflect (i) the historical operating results of D-Wave Systems prior to the Business Combination, (ii) the combined results of the Company, D-Wave Systems and DPCM following the closing of the Business Combination, (iii) the assets and liabilities of D-Wave Systems at their historical costs, (iv) the assets and liabilities of the Company and DPCM at their historical costs, which approximates fair value, and (v) the Company's equity structure for all periods presented. In accordance with ASC 805 guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the closing date of the Business Combination, to reflect the number of the Company's shares of common stock, par value $0.0001 ("Common Shares") issued to D-Wave Systems' stockholders in connection with the recapitalization transaction. As such, the Common Shares and the corresponding capital amounts and earnings per share related to D-Wave Systems' common stock prior to the Business Combination have been retrospectively restated as shares reflecting the conversion ratio established in the Business Combination. Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements included in this quarterly report have been prepared by the Company and are unaudited, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. However, the Company believes that the disclosures contained within these interim condensed consolidated financial statements comply with the requirements of Section 13(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") for interim condensed consolidated financial statements and are adequate to make the information presented not misleading. The interim condensed consolidated financial statements included herein have been prepared on the same basis as the audited annual consolidated financial statements and reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2021 included in the registration statement on Form S-1 (SEC File No. 333-267124) related to the exercise and resale of certain securities of D-Wave, initially filed by the Company with the SEC on August 29, 2022 and which was declared effective by the SEC on October 26, 2022 (as amended, the “Resale Registration Statement”). The condensed consolidated statement of operations and comprehensive loss for the three and nine month periods ended September 30, 2022 are not necessarily indicative of the results to be anticipated for the entire year ending December 31, 2022 or thereafter. All references to September 30, 2022 and 2021 in the notes to condensed consolidated financial statements are unaudited. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned su bsidiaries. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements upon consolidation. Liquidity a nd going concern The Company has prepared its condensed consolidated financial statements assuming that it will continue as a going concern. Since its inception, the Company has incurred net losses and negative cash flows from operations. As of September 30, 2022, the Company had an accumulated deficit of $363.1 million and a working capital deficiency of $11.7 million. For the three months ended September 30, 2022 and 2021, the Company incurred a net loss of $13.1 million and $4.2 million respectively. For the nine months ended September 30, 2022 and 2021, the Company incurred a net loss of $37.9 million and $17.7 million respectively. The Company had net cash outflows from operations of $34.3 million and $27.6 million, respectively. As of September 30, 2022, the Company had $13.8 million of cash. The Company expects to incur additional operating losses and negative cash flows from operations as it continues to expand its commercial operations and research and development programs. On August 5, 2022, the Company completed a Business Combination with DPCM. The Company received gross proceeds of $49.0 million from the PIPE Investment (as defined below) and the DPCM trust account. In conjunction with the Business Combination, the Company and D-Wave Systems entered into an equity line of credit (the "ELOC") with Lincoln Park Capital Fund, LLC ("Lincoln Park") on June 16, 2022 which provides D-Wave the sole right, but not the obligation, to direct Lincoln Park to buy specified dollar amounts up to $150.0 million of Common Shares through June 15, 2025. The ELOC will provide t he Company and D-Wave with additional liquidity to fund the business, subject to the conditions set forth in the agreement, including volume limitations tied to periodic market prices, ownership limitations restricting Lincoln Park from owning more than 9.9% of the then total outstanding Common Shares and a floor price of $1.00 at which the Company may not sell to Lincoln Park any Common Shares. For the nine months ended September 30, 2022, D-Wave has issued 381,540 Common Shares satisfying the commitment fee for the ELOC. For the nine months ended September 30, 2022, D-wave did not direct Lincoln Park to buy any Common Shares. Subsequent to September 30, 2022, D-Wave commenced making sales pursuant to the ELOC (see Note 14). To the extent that sufficient capital is not obtained through the cash received in connection with the issuance of Common Shares under the ELOC, management will be required to obtain additional capital through the issuance of debt and/or equity, or other arrangements. However, there can be no assurance that D-Wave will be able to raise additional capital when needed or under acceptable terms. The issuance of additional equity may dilute existing stockholders and newly issued shares may contain senior rights and preferences compared to the currently outstanding Common Shares. Any future debt may contain covenants and limit D-Wave’s ability to pay dividends or make other distributions to stockholders. If D-Wave is unable to obtain additional financing, operations may be scaled back or discontinued. These conditions give rise to material uncertainties that may cast substantial doubt on the ability of D-Wave to continue as a going concern. These condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Such adjustments could be material. COVID-19 pandemic The Company is subject to risks and uncertainties relating to the ongoing outbreak of the novel strain of coronavirus (“COVID-19”), which the World Health Organization declared a pandemic in March 2020. The COVID-19 pandemic has resulted in authorities implementing numerous measures to contain the virus, including travel bans and restrictions, quarantines, shelter-in-place orders, and business limitations and shutdowns. Work-from-home and other measures have introduced additional operational risks, including cybersecurity risks, and may adversely affect the way the Company and its third-party partners operate. The extent to which the COVID-19 pandemic impacts the Company’s workforce, business, financial condition, and results of operations will depend on future developments, which are highly uncertain and cannot be predicted at this time. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s results may be materially adversely affected. For the nine months ended September 30, 2022 and 2021, the Company’s business, results of operation and financial condition was not significantly impacted due to the effects of COVID-19. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes as of the date of the condensed consolidated financial statements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts, and experience. The Company’s accounting estimates and assumptions may change over time in response to COVID-19 and the change could be material in future periods. As of the date of issuance of these condensed consolidated financial statements, the Company is not aware of any specific event or circumstances that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from those estimates or assumptions. Public Warrants and Private Warrants The Company evaluated its outstanding warrants which were issued in exchange for (i) the warrants initially included in the DPCM units (the "Units") issued in DPCM’s initial public offering (the “Public Warrants”), and (ii) the warrants of DPCM held by CDPM Sponsor Group, LLC (the “Sponsor”) that were issued to the Sponsor at the closing of DPCM’s initial public offering (the “Private Warrants,” and together with the Public Warrants, the “Warrants”), which are discussed in Note 8 - Warrants , in accordance with ASC 815-40, “Derivatives and Hedging - Contracts in Entity’s Own Equity .” The Private Warrants do not meet the derivative scope exception and are accounted for as derivative liabilities. Specifically, the Private Warrants contain provisions that cause the settlement amounts to be dependent upon the characteristics of the holder of the warrant which is not an input into the pricing of a fixed-for-fixed option on equity shares. Therefore, the Private Warrants are not considered indexed to the Company’s stock and should be classified as a liability. Since the Private Warrants meet the definition of a derivative, the Company recorded the Private Warrants as liabilities on the condensed consolidated balance sheet at fair value upon the Closing, with subsequent changes in the fair value recognized in the condensed consolidated statements of operations and comprehensive loss at each reporting date. The fair value of the Private Warrants was initially measured using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The subsequent measurements of the Private Warrants after the detachment of the Public Warrants from the Units are classified as Level 2 fair value measurements due to the use of an observable market quote for the Public Warrants, which are considered to be a similar asset in an active market. The Public Warrants also do not meet the indexation guidance in ASC 815-40 and are accounted for as liabilities as the Public Warrants include a provision whereby in a scenario on which there is not an effective registration statement, the warrant holders have a cap, 0.361 Common Shares per warrant (subject to adjustment), on the issuable number of shares in a cashless exercise. The fair value of the Public Warrants was initially measured using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 fair value measurements due to the use of an observable market quote in an active market. Operating segment Operating segments are defined as components of an enterprise for which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for allocating and evaluating financial performance. As such, the Company views its operations and manages its business in one operating and reportable segment. See Note 12 - Geographic areas . Foreign currency translation and transactions The Company’s reporting currency is the U.S. dollar. Generally, the functional and reporting currency of its international subsidiaries is the currency of their primary economic environment. Accordingly, all foreign balance sheet accounts have been translated into the U.S. dollars using the rate of exchange at the respective balance sheet date. Components of the condensed consolidated statements of operation and comprehensive loss have been translated at the average exchange rate for the year or the corresponding period. Translation gains and losses are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. Gains or losses arising from currency exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in the condensed consolidated statements of operations and comprehensive loss. For the three months ended September 30, 2022, the Company recorded $956,000 of foreign currency transaction gain in other income in its condensed consolidated statement of operations. For the three months ended September 30, 2021, the Company recorded $29,000 of foreign currency transaction loss in other income in its condensed consolidated statement of operations and comprehensive loss. For the nine months ended September 30, 2022 and 2021, the Company recorded $1,322,000 and $538,000 in foreign currency transaction gain, respectively, in other income in its condensed consolidated statements of operations and comprehensive loss. Cash and cash equivalents The Company’s cash and cash equivalents consists of money held in demand depository accounts. The carrying amount of cash was $13.8 million and $9.5 million as of September 30, 2022 and December 31, 2021, respectively, which approximates fair value and was determined based upon Level 1 inputs. The Company did not hold short-term investments as of September 30, 2022 and December 31, 2021. Fair value of financial instruments Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: ⮚ Level 1—Quoted prices in active markets for identical assets or liabilities. ⮚ Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. ⮚ Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company recognizes transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. The carrying amounts reflected in the condensed consolidated balance sheets for cash , trade accounts receivable, net, trade accounts payable and accrued expenses approximate their fair values (Level 1). The Company carries its marketable investments at cost, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments by the same issuer, as they represent investments in privately held companies for which there are no quoted market prices. As of September 30, 2022 and December 31, 2021, the Company estimated the fair value of its securities denominated in Canadian dollars to be C$10.2 million for both periods presented, and its securities denominated in United States dollars to be $1.2 million and $279,000, respectively. The carrying value of its securities as of September 30, 2022 and December 31, 2021 was $1.2 million and $5,000, respectively and is included in other assets on the consolidated balance sheet. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of September 30, 2022 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): Description Level September 30, 2022 Liabilities: Warrant Liabilities – Public Warrants 1 $ 3,018 Warrant Liabilities – Private Placement Warrants 2 $ 2,480 The Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities in the condensed consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the condensed consolidated statements of operations. The Warrants were initially valued using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The binomial lattice model’s primary unobservable input utilized in determining the fair value of the Warrants is the expected volatility of the Common Shares. The expected volatility as of the initial public offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The expected volatility as of subsequent valuation dates was implied from the Company’s own Public Warrant pricing. For periods subsequent to the detachment of the Public Warrants from the Units, the close price of the Public Warrants was used as the fair value of the Warrants as of each relevant date. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 fair value measurements due to the use of an observable market quote in an active market. The subsequent measurements of the Private Warrants after the detachment of the Public Warrants from the Units are classified as Level 2 fair value measurements due to the use of an observable market quote for the Public Warrants, which are considered to be a similar asset in an active market. As of September 30, 2022, the liabilities for the Warrants were calculated by multiplying the quoted market price per DPCM Public Warrant of $0.31 by the 17,920,898 Warrants outstanding (see Note 8). Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. Net income (loss) per share Basic net loss per common share is computed by dividing the net loss available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders adjusted by any preferred stock dividends declared during the period by the weighted average number of common shares and potential common shares outstanding when the impact is not antidilutive. Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued. Shares issuable for little or no cash consideration shall be considered outstanding common shares and included in the computation of basic EPS. Concentration risk Agreements which potentially subject the Company to concentration risk consist principally of two to three customer agreements. During the three month period ended September 30, 2022, the Company earned 15%, 11% and 10% of its total revenue from three customers. During the three month period ended September 30, 2021, the Company earned 15% and 11% of its total revenue earned from two customers. During the nine month period ended September 30, 2022, the Company earned 13% of its total revenue from two separate customers. During the nine months ended September 30, 2021, the Company earned 13% and 12% of its total revenue from two customers. Government assistance The Company receives various forms of government assistance including (i) government grants (ii) investment credits, and (iii) government loans, for research and development initiatives from Canadian government agencies. The Company recognizes grants and investment tax credits relating to qualifying scientific research and development expenditures as a reduction of the related eligible expenses (research and development expenses) in its condensed consolidated statement of operations and comprehensive loss. Grants and investment tax credits are recognized in the period during which the related qualifying expenses are incurred, provided that the conditions under which the grants and investment tax credits have been met. The Company recognizes grants and investment tax credits in an amount equal to the estimated qualifying expenses incurred in each period multiplied by the applicable reimbursement percentage. Grants and investment tax credits that are recognized upon incurring qualifying expenses in advance of receipt of grant funding or proceeds from research and development incentives are recorded in the condensed consolidated balance sheets as research incentives receivable. In circumstances where the grants received relate to prior period eligible expenses, the Company recognizes them as government assistance in its condensed consolidated statement of operations and comprehensive loss in the current period. During the three months ended September 30, 2022 and 2021, the Company recorded a Scientific Research and Experimental Development (“SR&ED”) investment tax credit of $0.1 million and $$0.5 million in 2022 and 2021, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. During the nine months ended September 30, 2022 and 2021, the Company recorded a SR&ED investment tax credit of $1.0 million and $1.2 million, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. The Company has received government loans under funding agreements that bear interest at rates that are below market rates of interest or are interest-free. The Company accounts for the imputed benefit arising from the difference between a market rate of interest and the rate of interest charged as additional grant funding, and records interest expense for the loans at a market rate of interest. On the date that loan proceeds are earned, the Company recognizes the portion of the loan proceeds allocated to grant funding as a discount to the carrying value of the loan and as other liability, which is subsequently recognized as additional government assistance upon draw down of the qualified loan amounts. Revenue recognition The Company recognizes revenue in accordance with Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and accounts for certain contract costs in accordance with FASB’s Accounting Standards Codification (“ASC”) 340-40, Other Assets and Deferred Costs-Contracts with Customers . The standard was adopted on a full retrospective method on January 1, 2018. The adoption of ASC 606 had no impact on the Company and as such there was no recorded transition adjustment. The core principle of ASC 606 is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To support this core principle, the Company applies the following five step approach: ⮚ Identify the contract with the customer ⮚ Identify the performance obligations ⮚ Determine the transaction price ⮚ Allocate the transaction price to the performance obligations ⮚ Recognize revenue when (or as) the entity satisfies a performance obligation The Company generates revenue through subscription sales to access its Quantum Computing as a Service (“QCaaS”) cloud platform and from professional services related to the practical applications of quantum computing technology to solve its customers’ business challenges, to develop quantum proofs-of-concepts, pilot hybrid quantum applications and to put those applications into production. In addition, the Company also earns revenue from providing training regarding quantum computing systems and building related applications. In arrangements with re-sellers of the Company’s cloud services, the re-seller is considered the customer and the Company does not have any contractual relationships with the re-sellers’ end users. For these arrangements, revenue is recognized at the amount charged to the re-seller and does not reflect any mark-up to the end user. Revenue from QCaaS is recognized evenly over the contractual period, on a straight-line basis over the subscription term, beginning on the date that the service is made available to the customer. Professional services are recognized as they are earned based on the terms of the contract or based on the cost-to-cost method. Under the cost-to-cost method, revenue is recognized based upon the ratio that incurred costs bear to total estimated contract costs with related cost of revenue recorded as the costs are incurred. Recently adopted accounting standards and amendments D-Wave is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. D-Wave is provided the option to adopt new or revised accounting guidance as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) either (1) within the same periods as those otherwise applicable to public business entities, or (2) within the same time periods as private companies, including early adoption when permissible. The Company elected to early adopt, when permissible, new or revised accounting guidance within the same time period as private companies, as indicated in Note 2 of its audited consolidated financial statements as of December 31, 2021 and 2020, included in the Resale Registration Statement. Recent accounting pronouncements not yet adopted In November 2021, the FASB issued ASU No.2021-10, Disclosures by Business Entities about Government Assistance . ASU 2021-10 was issued to increase the transparency of government assistance. ASU 2021-10 requires that entities make certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The required disclosures include: (1) information about the nature of the transactions and the related accounting policy used to account for the transactions; (2) the line items on the balance sheet and income statement that are affected by the transactions, and the amounts applicable to each financial statement line item; and (3) significant terms and conditions of the transactions, including commitments and contingencies. The amendments in ASU 2021-10 are effective for all entities within their scope for financial statements issued for annual periods beginning after December 15, 2021. Early application of the amendments is permitted. An entity should apply the amendments in ASU 2021-10 either (1) prospectively to all transactions within the scope of the amendments that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or (2) retrospectively to those transactions. The Company plans to adopt the ASU 2021-10 on December 31, 2022 with an effective date of January 1, 2022. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2022
Reverse Recapitalization [Abstract]
Business Combination	Business Combination As discussed in Note 2 - Basis of Presentation and Summary of Significant Accounting Policies, on August 5, 2022, the Company completed the Business Combination. Upon the closing of the Business Combination, the following occurred: • Each non-redeeming share of DPCM Class A common stock was converted into the right to receive 1.4541326 Common Shares (the “Exchange Ratio”), such that 902,213 shares of DPCM Class A common stock that were not redeemed were exchanged for 1,311,937 Common Shares; • All outstanding warrants of DPCM were converted into the right to receive Warrants. Each such Warrant is exercisable for 1.4541326 Common Shares, at any time commencing on September 4, 2022, the date that is 30 days after the completion of the Business Combination. The number of Common Shares received upon the exercise of Warrants will be rounded down to the nearest whole number of Common Shares; • 3,015,575 shares of DPCM Class B common stock held by Sponsor and DPCM’s officers, directors and other special advisors were converted into Common Shares on a one-for-one basis; and • Pursuant to an arrangement effected under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the “Arrangement”) all holders of outstanding non-redeemable convertible preferred shares of D-Wave Systems received equity interests in D-Wave in exchange for their equity interests in D-Wave Systems. The aggregate consideration paid to former shareholders of D-Wave Systems in connection with the Business Combination was approximately 99,736,752 Common Shares and Exchangeable Shares (as defined below) (excluding options of D-Wave Systems and warrants of D-Wave Systems). “Exchangeable Shares” refer to shares in the capital of D-Wave Quantum Technologies Inc., or ExchangeCo, an indirect Canadian subsidiary of D-Wave. The Exchangeable Shares are exchangeable from time to time, at the holder’s election, for Common Shares on a one-for-one basis. In connection with the Business Combination and concurrently with the execution of the Transaction Agreement, on February 7, 2022, DPCM and the Company entered into separate subscription agreements with a number of investors (each a "PIPE Investor"), pursuant to which the PIPE Investors agreed to purchase, and the Company agreed to sell to the PIPE Investors, a number of Common Shares (the “PIPE Shares”) equal to the aggregate purchase price for all Common Shares subscribed for by each PIPE Investor, divided by $10.00 and multiplied by the Exchange Ratio for an aggregate purchase price of $40.0 million (the “PIPE Investment”), such that the PIPE Investors purchased 5,816,528 PIPE Shares in the aggregate. The PIPE Investment closed simultaneously with the consummation of the Business Combination. The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, DPCM was treated as the "acquired" company for financial reporting purposes. See Note 2 for further details. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of the Company issuing shares for the net assets of DPCM, accompanied by a recapitalization. The net assets of DPCM were stated at historical cost, with no goodwill or other intangible assets recorded. In accounting for the Business Combination and after redemptions, net proceeds received by the Company totaled $21.4 million. The following table presents the net proceeds from the Business Combination and PIPE Investment for the nine months ended September 30, 2022 (in thousands): Recapitalization Cash - DPCM trust and cash, net of redemptions $ 9,130 Cash - PIPE Investment 40,000 Less: Non-cash net liabilities assumed from DPCM (13,728) Less: Transaction costs (14,017) Net Business Combination and PIPE Investment 21,385 Add back: Non-cash net liabilities assumed from DPCM 13,728 Add back: Accrued transaction costs 2,459 Net cash contribution from Business Combination and PIPE Investment $ 37,572 The following table presents the number of shares of Common Shares issued immediately following the consummation of the Business Combination, PIPE Investment, and closing of the ELOC: Number of Shares Exchange of DPCM Class A common stock for D-Wave Quantum Inc. common stock upon Business Combination (1) 1,311,937 Exchange of DPCM Class B common stock for D-Wave Quantum Inc. common stock upon Business Combination (2) 3,015,575 D-Wave Quantum Inc. common stock issued in PIPE Investment upon Business Combination 5,816,528 Business Combination and PIPE shares 10,144,040 Exchange of D-Wave Systems Inc. common stock for D-Wave Quantum Inc. common stock (including Exchangeable Shares) upon Business Combination (3) 99,736,752 D-Wave Quantum Inc. common stock issued to Lincoln Park for the ELOC closing commitment upon Business Combination 127,180 Total D-Wave Quantum Inc. common stock (including Exchangeable Shares) outstanding immediately after Business Combination, PIPE Investment, and closing of the ELOC 110,007,972 (1) Prior to the Business Combination, there were 30,000,000 shares of DPCM Class A common stock subject to possible redemption outstanding. Also prior to the Business Combination, 29,097,787 shares of DPCM Class A common stock subject to possible redemption were redeemed, resulting in 902,213 shares of DPCM Class A common stock outstanding immediately prior to the Business Combination. The number of Common Shares that former stockholders of DPCM Class A common stock received upon exchanging their shares in connection with the Business Combination was calculated by multiplying the 902,213 shares of DPCM Class A common stock outstanding immediately prior to the Business Combination by the Exchange Ratio. All fractional shares were rounded down. (2) Prior to the Business Combination, there were 7,500,000 shares of DPCM Class B common stock outstanding. Also prior to the Business Combination, 4,484,425 shares of DPCM Class B common stock were forfeited, resulting in 3,015,575 shares of DPCM Class B common stock outstanding immediately prior to the Business Combination. In connection with the Business Combination, the former stockholders of DPCM Class B common stock exchanged their shares for Common Shares on a one-for-one basis. (3) In conjunction with the Business Combination, all of D-Wave Systems' non-redeemable convertible preferred stock was converted into D-Wave Systems' common stock. As a result, there were 112,106,972 shares of D-Wave Systems' common stock outstanding immediately prior to the Business Combination. In conjunction with the Business Combination, the number of Common Shares that former stockholders of D-Wave Systems' common stock received upon exchanging their shares in conjunction with the Business Combination was calculated by multiplying the 112,106,972 shares of D-Wave Systems' common stock outstanding by the conversion ratio of 0.889657 (the “Conversion Ratio”),

Revenue from contracts with cus

Revenue from contracts with customers	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from contracts with customers	Revenue from contracts with customers Disaggregation of revenue The following table depicts the disaggregation of revenue by type of products or services and timing of transfer of products or services (in thousands): Three months ended September 30, 2022 2021 Type of products or services QCaaS $ 1,346 $ 980 Professional services 347 306 Other revenue 2 21 Total revenue, net $ 1,695 $ 1,307 Timing of revenue recognition Revenue recognized over the time $ 1,660 $ 1,247 Revenue recognized at a point in time 35 60 Total revenue, net $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 Type of products or services QCaaS $ 3,905 $ 3,063 Professional services 812 736 Other revenue 61 54 Total revenue, net $ 4,778 $ 3,853 Timing of revenue recognition Revenue recognized over the time $ 4,618 $ 3,773 Revenue recognized at a point in time 160 80 Total revenue, net $ 4,778 $ 3,853 Other revenue includes printed circuit board sales. Revenue by geographical markets is presented in Note 13 - Geographic areas. Contract balances The following table provides information about account receivable, contract assets and liabilities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, 2022 2021 Contract assets: Trade account receivable $ 740 $ 421 Unbilled receivables, which are included in 'Prepaid expenses and other current assets' 252 17 Total contract assets 992 438 Contract liabilities: Deferred revenue, current 1,989 2,665 Deferred revenue, noncurrent — 54 Customer deposit, which are included in 'Accrued expenses and other current liabilities' 21 21 Total contract liabilities $ 2,010 $ 2,740 Changes in deferred revenue from contracts with customers were as follows (in thousands): September 30, December 31, 2022 2021 Balance at beginning of period $ 2,719 $ 4,713 Deferral of revenue 3,554 4,092 Recognition of deferred revenue (4,284) (6,086) Balance at end of period $ 1,989 $ 2,719 Remaining performance obligations A significant number of the Company’s product and service sales are short-term in nature with a contract term of one year or less. For those contracts, the Company has utilized the practical expedient in ASC 606-10-50-14 exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. As of September 30, 2022, the aggregate amount of remaining performance obligations that were unsatisfied or partially unsatisfied related to customer contracts was $2.0 million. This amount included deferred revenue on the Company’s condensed consolidated balance sheets, of which approximately 99% is expected to be recognized to revenue in the next 12 months. As of December 31, 2021, the aggregate amount of remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied was $2.7 million which included deferred revenue on the Company’s condensed consolidated balance sheets, of which approximately 98% was expected to be recognized to revenue in the next 12 months.

Balance sheet details

Balance sheet details	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance sheet details	Balance sheet details Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2022 2021 Accrued expenses: Accrued transaction costs $ 2,459 $ — Accrued professional services 1,010 1,953 Accrued compensation and related benefits 1,438 1,108 Other accruals 113 318 Other current liabilities: Other payroll expenses $ 247 $ 175 Customer deposit 21 21 Current portion of long term debt, net 30 39 Total accrued expenses and other current liabilities $ 5,318 $ 3,614 Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2022 2021 Prepaid expenses: Prepaid Lincoln Park commitment fee $ 3,279 $ — Prepaid services 1,319 125 Prepaid software 1,027 531 Prepaid rent 121 151 Prepaid commissions 117 84 Other 11 156 Other current assets: Directors and Officers insurance $ 2,028 $ — Unbilled receivables 252 17 Security deposits 36 52 Total prepaid expenses and other current assets $ 8,190 $ 1,116

Property and equipment, net

Property and equipment, net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2022 2021 Quantum computer systems $ 13,425 $ 13,425 Lab equipment 6,664 6,645 Computer equipment 3,439 3,305 Leasehold improvements 1,074 1,074 Furniture and fixtures 318 316 Construction-in-progress 379 285 Total property and equipment 25,299 25,050 Less: Accumulated depreciation (22,762) (21,801) Property and equipment, net $ 2,537 $ 3,249 Depreciation expense for the three month period ended September 30, 2022 and 2021 was $338,000 and $393,000 respectively. Depreciation expense for the nine month period ended September 30, 2022 and 2021 was $1.0 million and $1.1 million respectively. The Company has not acquired any property and equipment under capital leases.

Loans payable

Loans payable	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Loans payable	Loans payable As of September 30, 2022 and December 31, 2021 loans payable consisted of the refundable government loans. The following table shows the component of loans payable (in thousands): September 30, December 31, 2022 2021 Loan payable, beginning of period $ 29,844 $ 13,624 SIF contribution — 16,786 Financing of Directors and Officers Insurance 2,893 — Venture Loan 20,000 — Payments (1,262) (399) Interest and final fee on Venture Loan 1,808 — Repayment of the Venture Loan (21,808) — Foreign exchange (gain) loss (1,948) (167) Loan payable, end of period $ 29,527 $ 29,844 Discount, beginning of period $ (17,391) $ (11,948) SIF discount on additional contribution — (7,167) TPC discount on additional contribution — — Venture Loan discount (130) — Interest expense 1,902 1,728 Foreign exchange (gain) loss 1,236 (4) Total discount, end of period $ (14,383) $ (17,391) Total loans payable, end of period $ 15,144 $ 12,453 Short-term portion 2,232 220 Long-term portion 12,912 12,233 Total loans payable $ 15,144 $ 12,453 SIF liability On November 20, 2020, the Company entered into an agreement with the Strategic Innovation Fund ("SIF"), whereby SIF agreed to make a repayable contribution to the Company of up to C$40.0 million (“the Contribution”). Funds from the loan are to be used for projects involving the adaption of research findings for commercial applications that have the potential for market disruption; development of current product and services through the implementation of new or incremental technology that will enhance the Company’s competitive capability; and development of process improvements which reduce the environmental footprint of current production through the use of new or improved technologies. The annual repayment of the Contribution is calculated based upon a formula using the Company’s fiscal year revenue multiplied by a repayment rate. The contractual repayment period is 15 years and commences in the first year in which the Company reports annual revenue of $70.0 million (the “Benchmark Year”). In each of those years, an annual repayment amount is due. Each annual repayment must be paid by April 30 of the year following the year for which the annual repayment due will be calculated. If the Benchmark Year is not achieved within 14 years following the fiscal year in which the project is completed, the SIF loan is forgiven. The SIF loan is initially recorded at fair value, and subsequently at amortized cost. As the SIF contribution is interest free, the difference between the carrying value and initial fair value is recorded as government assistance on the consolidated statement of operations and comprehensive loss. The initial fair value of the SIF loan is determined by using a discounted cash flow analysis for the loan, which requires a number of assumptions. The significant assumptions used in determining the discounted cash flows include estimating the amount and timing of future revenue for the Company and the appropriate discount rate. In determining the appropriate discount rates, the Company considered the weighted average cost of capital for the Company, risk adjusted based on the development risks of the Company’s product. Management used a discount rate of 26% to discount the SIF loan. Should projected revenue not be achieved as predicted, the adjustment to the fair value of the SIF loan could be material. At September 30, 2022, the carrying value of the loan approximates its fair value. Repayments of the SIF contributions could also be triggered upon default of the agreement, or termination of the agreement, or upon a change of control that has not been approved by the Canadian government. The Canadian government approved the transaction with DPCM conditionally on May 9, 2022, with all conditions being satisfied on the closing date of the Business Combination. Venture Loan

Warrant liabilities

Warrant liabilities	9 Months Ended
	Sep. 30, 2022
Other Liabilities Disclosure [Abstract]
Warrant liabilities	Warrant liabilities In conjunction with the Business Combination, the Company assumed 10,000,000 DPCM public warrants and 8,000,000 DPCM private warrants. During the nine months ended September 30, 2022, 79,102 DPCM public warrants were exercised resulting in the Company receiving proceeds of $0.9 million for the issuance of 115,025 D-Wave Quantum shares of common stock (underlying shares were converted using the conversion ratio of 1.4541326 as per the Transaction Agreement). As of September 30, 2022, the Company has 17,920,898 Warrants outstanding. As part of the Business Combination, as described in Note 3 - Business Combination , each DPCM Public Warrant and Private Warrant that was issued and outstanding immediately prior to the Business Combination was automatically and irrevocably converted into one D-Wave Quantum warrant. The Warrants are subject to the terms and conditions of the warrant agreement entered into between DPCM, Continental Stock Transfer & Trust Company and the Company (the “Warrant Agreement Amendment” as specified in the Transaction Agreement). Each such Warrant will be exercisable at an exercise price of $11.50 for 1.4541326 Common Shares, or an approximate exercise price per Common Share of $7.91, subject to adjustments. The Warrants may be exercised for a whole number of shares of the Company. No fractional shares will be issued upon exercise of the Warrants. The Warrants will expire on August 5, 2027, or earlier upon redemption or liquidation. The Private Warrants are identical to the Public Warrants except that the Private Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company may redeem the Public Warrants: • in whole and not in part; • at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Common Share; • if, and only if, the last reported sales price of the shares of the Common Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which a notice of redemption is given equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalization and the like) (the "Reference Value"); • if the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalization and the like), the Private Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above; and • if, and only if, there is an effective registration statement covering the issuance of the Common Shares issuable upon exercise of the warrants and a current prospectus relating thereto available throughout the 30-day period after written notice of redemption is given, or an exemption from registration is available. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of the Common Shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of the Common Shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. For details of the D-Wave Systems legacy warrants, classified as equity, refer to Note 11 - Commitments and contingencies.

Promissory note - related party

Promissory note - related party	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Promissory note - related party	Promissory note - related party On February 28, 2022, an affiliate of DPCM entered into an unsecured promissory note of up to $1,000,000 with the Sponsor (the "Affiliate Note"). The purpose of the Affiliate Note was to provide DPCM with additional working capital. All amounts drawn on the Affiliate Note were provided directly to DPCM. The Affiliate Note is not convertible and bears no interest. The principal balance of the Affiliate Note was originally due and payable upon the earlier of the date on which DPCM consummates its initial business combination, or the date that the winding up of DPCM is effective. As of September 30, 2022, a total of $200,000 has been drawn on the Affiliate Note. In connection with the Business Combination, the Affiliate Note was assumed by the Company and was amended and restated effective September 30, 2022. The amended and restated note has identical terms as the Affiliate Note except that the Company must pay the principal balance in three equal installments on December 31, 2022, March 31, 2023, and June 30, 2023. On April 13, 2022, DPCM entered into an unsecured promissory note of up to $1,000,000 with the Sponsor (the "DPCM Note"). The purpose of the DPCM Note was to provide DPCM with additional working capital. All amounts drawn on the DPCM Note were provided directly to DPCM. The DPCM Note is not convertible and bears no interest. The principal balance of the DPCM Note was originally due and payable upon the earlier of the date on which DPCM consummates its initial business combination, or the date that the winding up of DPCM is effective. As of September 30, 2022, a total of $220,000 has been drawn on the DPCM Note. In connection with the Business Combination, the DPCM Note was assumed by the Company and was amended and restated effective September 30, 2022. The amended and restated note has identical terms as the Affiliate Note except that the Company must pay the principal balance in three equal installments on December 31, 2022, March 31, 2023, and June 30, 2023.

Stock-based compensation

Stock-based compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Equity Plans 2020 Equity Incentive Plan In April 2020, the Board of Directors of D-Wave Systems approved the 2020 Equity Incentive Plan (the "2020 Plan") which provides for the grant of qualified incentive stock options (“ISO”) and nonqualified stock options (“NSO”), restricted stock, restricted stock units (“RSU”) or other awards to the Company’s employees, officers, directors, advisors, and outside consultants. After the closing of the Business Combination effective August 5, 2022, no additional awards were issued under the 2020 Plan. Awards outstanding under the 2020 Plan will continue to be governed by such plan; however, the Company will not grant any further awards under the 2020 Plan. Stock options granted under the 2020 Plan will be converted applying the Conversion Ratio to the underlying common stock at the exercise date. 2022 Equity Incentive Plan In connection with the Business Combination (Note 3), the shareholders approved the D-Wave Quantum Inc. 2022 Equity Incentive Plan (the “2022 Plan”) on August 5, 2022, which became effective immediately upon the closing of the Business Combination. The 2022 Plan provides for the grant of ISOs, NSOs, stock appreciation rights, restricted stock awards (“RSA”), restricted stock unit awards, performance awards and other forms of awards to employees, directors and consultants, including employees and consultants of Company’s affiliates. The aggregate number of Common Shares reserved for future issuance under the 2022 Plan is 16,965,849 shares as of September 30, 2022. The number of shares reserved for issuance under the 2022 Plan will automatically increase on January 1st of each year for a period of nine years commencing on January 1, 2023 and ending on (and including) January 1, 2032, in an amount equal to 5% of the fully-diluted Common Shares outstanding on December 31 of the preceding year; provided, however, that the Board of Directors of the Company may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of Common Shares. Stock option valuation The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. ⮚ Risk-Free Interest Rate . The Company estimates its risk-free interest rate by using the yield on actively traded non-inflation-indexed U.S. treasury securities with contract maturities equal to the expected term. ⮚ Expected Term . The expected term of the Company’s options represents the period that the stock-based awards are expected to be outstanding. The Company has estimated the expected term of its employee awards using the SAB Topic 14 Simplified Method allowed by the FASB and SEC, for calculating expected term as it has limited historical exercise data to provide a reasonable basis upon which to otherwise estimate expected term. Certain of the Company’s options began vesting prior to the grant date, in which case the Company uses the remaining vesting term at the grant date in the expected term calculation. ⮚ Expected Volatility . As the Company was privately held and there was no public market for its common stock prior to the Business Combination, the expected volatility is based on the average historical stock price volatility of comparable publicly-traded companies in its industry peer group, financial, and market capitalization data. ⮚ Expected Dividend Yield . The Company has not declared or paid dividends to date and does not anticipate declaring dividends. As such, the dividend yield has been estimated to be zero. ⮚ Fair Value of Underlying Common Stock . Because the Company’s common stock was not yet publicly traded on the date of the grant, the Company must estimate the fair value of common stock prior to the Business Combination. The Board of Directors considers numerous objective and subjective factors to determine the fair value of the Company’s common stock at each meeting in which awards are approved. The factors considered include, but are not limited to: (i) the results of contemporaneous independent third-party valuations of the Company’s common stock; (ii) the prices, rights, preferences, and privileges of the D-Wave Systems’ previously convertible redeemable preferred stock relative to those of its common stock; (iii) the lack of marketability of the Company’s common stock; (iv) actual operating and financial results; (v) current business conditions and projections; (vi) the likelihood of achieving a liquidity event, such as an initial public offering or sale of the Company, given prevailing market conditions; and (vii) precedent transactions involving the Company’s shares. There were 1,500,081 stock options granted under the 2022 Plan and 4,341,966 stock options granted under the 2020 Plan during the nine months ended September 30, 2022 and 2021, respectively. The assumptions used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021 are as follows: Nine months ended September 30, 2022 2021 Expected dividend yield — — Expected volatility 70.6 % 56.3 % Expected term (years) 6.1 6.1 Risk-free interest rate 3.0 % 0.9 % Common stock option activity The following table summarizes the Company’s stock option activity during the periods presented (in thousands except share and per share data): Number of options outstanding Weighted average exercise price ($) Weighted average remaining contractual term (years) Aggregate intrinsic value ($) Balance as of December 31, 2021 16,336,134 $ 0.81 8.55 $ 80,179 Granted 1,500,081 10.07 Exercised (174,378) 0.81 Forfeited (944,087) 0.81 Expired (28,981) 0.81 Balance as of September 30, 2022 16,688,769 $ 1.64 6.96 $ 74,546 Exercisable as of September 30, 2022 12,128,516 $ 0.84 6.20 $ 59,344 The aggregate intrinsic value of stock options was calculated as the difference between the exercise price of the stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock. The weighted average grant date fair values per share of stock options granted during the nine months ended September 30, 2022 was $3.1. The weighted average grant date fair values per share of stock options granted during the nine months ended September 30, 2021 was $0.36. The total fair values of the stock options vested during the nine months ended September 30, 2022 and 2021 was $6,564,103 and $812,329 respectively. Common stock warrants On April 14, 2022, 617,972 common stock warrants of D-Wave Systems with an exercise price of $1.75 expired. As of September 30, 2022 there are no common stock warrants outstanding. Preferred stock warrants The Company did not record any movements during the nine months ended September 30, 2022. As of September 30, 2022, the following preferred stock warrants of D-Wave Systems were outstanding and exercisable: Number of warrants outstanding Weighted average exercise price ($) Expiry Date Number exercisable 3,247,637 $ 1.92 29-Nov-26 1,299,055 Total, September 30, 2022 3,247,637 $ 1.92 1,299,055 As a result of the Business Combination and as per the Transaction Agreement, the preferred stock warrants of D-Wave Systems noted above are exercisable for up to 2,889,282 Common Shares, which amount is equal to the number of warrants multiplied by the Conversion Ratio (see Note 11). Stock-based compensation The following table summarizes the stock-based compensation expense classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2022 2021 Research and development $ 329 $ 63 General and administrative 1,640 105 Sales and marketing 58 57 Total stock-based compensation $ 2,027 $ 225 Nine months ended September 30, 2022 2021 Research and development $ 539 $ 150 General and administrative 2,909 278 Sales and marketing 247 127 Total stock-based compensation $ 3,695 $ 555

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies D-Wave Systems Warrant Transaction Agreements In November 2020, contemporaneously with a revenue arrangement, D-Wave Systems entered into a contract, pursuant to which D-Wave Systems agreed to issue to a customer a warrant to acquire up to 3,247,637 shares of its Class A Preferred Shares (the “ Warrant Preferred Shares”), subject to certain vesting requirements. As the warrant was issued in connection with an existing commercial agreement with a customer, the value of the warrant was determined to be consideration payable to the customer and consequently will be treated as a reduction to revenue recognized under the corresponding revenue arrangement. Approximately 40% of the Warrant Preferred Shares vested and became immediately exercisable on August 13, 2020. The remaining Warrant Preferred Shares will vest and become exercisable upon satisfaction of certain milestones based on revenue generated under the commercial agreement with the customer, to the extent certain prepayments are made by the customer. As of September 30, 2022, these revenue-based milestones have yet to be met. The fair value of the Warrant Preferred Shares at the date of issuance was determined to be $1.1 million. During the nine months ended September 30, 2022, no Warrant Preferred Shares were vested or probable of vesting. As a result of the Business Combination and as per the Transaction Agreement, the Warrant Preferred Shares noted above, are exercisable for up to 2,889,282 Common Shares, which amount is equal to the number of warrants multiplied by the Conversion Ratio. The D-Wave Systems Warrants Shares were purchased at a purchase price of approximately $2.16 per D-Wave Systems Warrant. The Company estimated the fair value of D-Wave Systems Warrant Shares on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each warrant. The estimated fair value of the Company's common stock was based on the common stock offering price due to its proximity to the grant date of the Warrant Shares. The estimated term is based on the contractual life of the Warrant Shares. The remaining assumptions were developed consistent with the methodologies described further in Note 12 - Share Based Compensation . Lease obligation In November 2021, the Company amended a building lease to extend the term by ten years and six months through December 31, 2033. The lease amendment constituted a modification as it extended the original lease term and required evaluation of the remeasurement of the lease liability and corresponding right-of-use asset. The reassessment resulted in the Company continuing to classify the lease as an operating lease and remeasurement of the lease liability on the basis of the extended lease term. The total right-of-use asset recorded in association with the lease extension was $6.8 million with a corres ponding operating lease liability. In September 2022, the Company amended a building lease to extend the term by twelve months through June 30, 2024. The lease amendment constituted a modification as it extended the original lease term and required evaluation of the remeasurement of the lease liability and corresponding right-of-use asset. The reassessment resulted in the Company continuing to classify the lease as an operating lease and remeasurement of the lease liability on the basis of the extended lease term. The total right-of-use asset recorded in association with the lease extension was $0.2 million with a corresponding operating lease liability. Financing of Directors and Officers Insurance In conjunction with the Business Combination, the Company entered into a Directors and Officers insurance policy on August 5, 2022 with a total premium, taxes and fees totaling $2.8 million. The insurance may cover certain liabilities arising from the Company’s obligation to indemnify its directors and certain of its officers and employees, and former officers, directors, and employees of acquired companies, in certain circumstances. Under the terms of the insurance financing, payments of $289,777, which include interest at the rate of 4.24% per annum, are due each month for nine months commencing on September 5, 2022. The total outstanding due to Woodruff Sawyer as of September 30, 2022 was $2.0 million. Litigation From time to time, the Company may become involved in various legal proceedings in the ordinary course of its business and may be subject to third-party infringement claims. In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. It is not possible to determine the maximum potential amount of liability under these indemnification obligations due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim. As of September 30, 2022 and 2021, the Company has not been subject to any material litigation or pending litigation claims.

Net loss per share

Net loss per share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss per share	Net loss per share As a result of the Business Combination (see Note 3), the Company has retroactively adjusted the weighted average shares outstanding prior to August 5, 2022 to give effect to the Conversion Ratio used to determine the number of Common Shares into which they were converted. The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021 (in thousands, except share and per share data): For the three months ended September 30, 2022 2021 Numerator: Net loss attributable to common stockholders - basic and diluted $ (13,053) $ (4,209) Denominator: Weighted-average common stock outstanding 116,256,805 125,362,390 Net loss per share attributable to common stockholders - basic and diluted $ (0.11) $ (0.03) For the nine months ended September 30, 2022 2021 Numerator: Net loss attributable to common stockholders - basic and diluted $ (37,868) $ (17,705) Denominator: Weighted-average common stock outstanding 122,337,727 125,331,065 Net loss per share attributable to common stockholders - basic and diluted $ (0.31) $ (0.14) As of September 30, 2022 and 2021, the Company’s potentially dilutive securities were stock options, the Warrant Shares, and the Public Warrants and Private Warrants. Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities (upon conversion) that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: As of September 30, 2022 2021 Public Warrants as converted to Common Shares (Note 8) 14,426,301 — Private Warrants as converted to Common Shares (Note 8) 11,633,060 — D-Wave Systems Warrant Shares as converted to Common Shares (Note 11) 2,889,282 2,889,282 Options to purchase common stock as converted to Common Shares 14,847,108 14,608,809 Total 43,795,751 17,498,091

Geographic areas

Geographic areas	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Geographic areas	Geographic areas The following table presents a summary of revenue by geography for the three and nine month periods ended September 30, 2022 and 2021: Three months ended September 30, 2022 2021 United States $ 951 $ 784 Japan 293 304 Germany 237 70 Other 214 149 Total revenue $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 United States $ 2,461 $ 2,100 Japan 1,008 1,197 Germany 757 197 Other 552 359 Total revenue $ 4,778 $ 3,853 Other includes Europe, the Middle East, Africa (EMEA) and Asia, Canada and Australia. The Company has not had any sales in China, Russia or Ukraine. The following table sets forth the long-lived assets, consisting of property and plant, net, and operating lease right-of-use assets, by geographic area as of September 30, 2022 and December 31, 2021 as follows (in thousands): September 30, December 31, 2022 2021 Canada $ 10,106 $ 11,251 United States 497 576 Total long-lived assets $ 10,603 $ 11,827 As of September 30, 2022 and December 31, 2021, substantially all of the Company’s long-lived assets are located in Canada and in the United States. Significant customers The Company had significant customers during the three and nine month periods ended September 30, 2022 and 2021. A significant customer is defined as one that comprises up to ten percent or more of total revenues in a particular year or ten percent of outstanding accounts receivable balance as of the year end. The tables below present the significant customers on a percentage of total revenue basis for the three and nine month periods ended September 30, 2022 and 2021. Three months ended September 30, 2022 2021 Customer A 15 % 15 % Customer B 11 % 11 % Customer C 10 % — % Nine months ended September 30, 2022 2021 Customer A 13 % 13 % Customer B 13 % 12 % As of September 30, 2022 and 2021, there were no significant customers that comprised ten percent or more of outstanding accounts receivable balances. All revenues derived from major customers above are included in the United States and Germany during the three and nine month periods ended September 30, 2022 and the United States and Japan during the three and nine month periods ended September 30, 2021.

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent events	Subsequent events The Company has evaluated all events occurring through November 10, 2022, the date on which the condensed consolidated financial statements were issued. The Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except for the ones described below. Subsequent to the period ended September 30, 2022, the Company issued 764,796 common shares related to the exercise of stock options for proceeds of $696,000. On October 13, 2022 and October 27, 2022, the Company granted 4,496,833 and 3,578,590 Restricted Stock Units to certain of its employees, respectively. On October 27, 2022, the Company granted 167,605 Restricted Stock Units to certain members of the Company's board of directors (the "Board"). On October 26, 2022, a registration statement in respect to the resale of up to $150.0 million Common Shares under the ELOC (see Note 2) became effective, enabling the Company to commence making sales pursuant to the ELOC.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying condensed consolidated financial statements in accordance with the accounting principles generally accepted in the United States of America ("U.S. GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”) and pursuant to the regulations of the U.S. Securities and Exchange Commission ("SEC"). The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, DPCM, as a direct wholly-owned subsidiary of D-Wave, who is the legal acquirer, was treated as the "acquired" company for financial reporting purposes and D-Wave Systems was treated as the accounting acquirer. This determination was primarily based on the following factors: (i) D-Wave Systems' existing stockholders have the majority of the voting interest in the combined entity with an approximate 91% voting interest; (ii) the combined company's board of directors have seven board members consisting of one board member designated by DPCM, three board members retained from the D-Wave Systems' board, and three additional, independent board members; (iii) D-Wave Systems' senior management comprises all the senior management of the combined company; and (iv) D-Wave Systems' existing operations comprise the ongoing operations of the combined company. In accordance with guidance applicable to these circumstances, the Business Combination was treated as the equivalent of D-Wave Systems issuing stock for the net assets of DPCM, accompanied by a recapitalization. The net assets of DPCM were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of D-Wave Systems. As a result, the condensed consolidated financial statements included herein reflect (i) the historical operating results of D-Wave Systems prior to the Business Combination, (ii) the combined results of the Company, D-Wave Systems and DPCM following the closing of the Business Combination, (iii) the assets and liabilities of D-Wave Systems at their historical costs, (iv) the assets and liabilities of the Company and DPCM at their historical costs, which approximates fair value, and (v) the Company's equity structure for all periods presented. In accordance with ASC 805 guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the closing date of the Business Combination, to reflect the number of the Company's shares of common stock, par value $0.0001 ("Common Shares") issued to D-Wave Systems' stockholders in connection with the recapitalization transaction. As such, the Common Shares and the corresponding capital amounts and earnings per share related to D-Wave Systems' common stock prior to the Business Combination have been retrospectively restated as shares reflecting the conversion ratio established in the Business Combination.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned su bsidiaries. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements upon consolidation. Liquidity a nd going concern The Company has prepared its condensed consolidated financial statements assuming that it will continue as a going concern. Since its inception, the Company has incurred net losses and negative cash flows from operations. As of September 30, 2022, the Company had an accumulated deficit of $363.1 million and a working capital deficiency of $11.7 million. For the three months ended September 30, 2022 and 2021, the Company incurred a net loss of $13.1 million and $4.2 million respectively. For the nine months ended September 30, 2022 and 2021, the Company incurred a net loss of $37.9 million and $17.7 million respectively. The Company had net cash outflows from operations of $34.3 million and $27.6 million, respectively. As of September 30, 2022, the Company had $13.8 million of cash. The Company expects to incur additional operating losses and negative cash flows from operations as it continues to expand its commercial operations and research and development programs. On August 5, 2022, the Company completed a Business Combination with DPCM. The Company received gross proceeds of $49.0 million from the PIPE Investment (as defined below) and the DPCM trust account. In conjunction with the Business Combination, the Company and D-Wave Systems entered into an equity line of credit (the "ELOC") with Lincoln Park Capital Fund, LLC ("Lincoln Park") on June 16, 2022 which provides D-Wave the sole right, but not the obligation, to direct Lincoln Park to buy specified dollar amounts up to $150.0 million of Common Shares through June 15, 2025. The ELOC will provide t he Company and D-Wave with additional liquidity to fund the business, subject to the conditions set forth in the agreement, including volume limitations tied to periodic market prices, ownership limitations restricting Lincoln Park from owning more than 9.9% of the then total outstanding Common Shares and a floor price of $1.00 at which the Company may not sell to Lincoln Park any Common Shares. For the nine months ended September 30, 2022, D-Wave has issued 381,540 Common Shares satisfying the commitment fee for the ELOC. For the nine months ended September 30, 2022, D-wave did not direct Lincoln Park to buy any Common Shares. Subsequent to September 30, 2022, D-Wave commenced making sales pursuant to the ELOC (see Note 14). To the extent that sufficient capital is not obtained through the cash received in connection with the issuance of Common Shares under the ELOC, management will be required to obtain additional capital through the issuance of debt and/or equity, or other arrangements. However, there can be no assurance that D-Wave will be able to raise additional capital when needed or under acceptable terms. The issuance of additional equity may dilute existing stockholders and newly issued shares may contain senior rights and preferences compared to the currently outstanding Common Shares. Any future debt may contain covenants and limit D-Wave’s ability to pay dividends or make other distributions to stockholders. If D-Wave is unable to obtain additional financing, operations may be scaled back or discontinued. These conditions give rise to material uncertainties that may cast substantial doubt on the ability of D-Wave to continue as a going concern. These condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Such adjustments could be material.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes as of the date of the condensed consolidated financial statements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts, and experience.
Public Warrants and Private Warrants	Public Warrants and Private Warrants The Company evaluated its outstanding warrants which were issued in exchange for (i) the warrants initially included in the DPCM units (the "Units") issued in DPCM’s initial public offering (the “Public Warrants”), and (ii) the warrants of DPCM held by CDPM Sponsor Group, LLC (the “Sponsor”) that were issued to the Sponsor at the closing of DPCM’s initial public offering (the “Private Warrants,” and together with the Public Warrants, the “Warrants”), which are discussed in Note 8 - Warrants , in accordance with ASC 815-40, “Derivatives and Hedging - Contracts in Entity’s Own Equity .” The Private Warrants do not meet the derivative scope exception and are accounted for as derivative liabilities. Specifically, the Private Warrants contain provisions that cause the settlement amounts to be dependent upon the characteristics of the holder of the warrant which is not an input into the pricing of a fixed-for-fixed option on equity shares. Therefore, the Private Warrants are not considered indexed to the Company’s stock and should be classified as a liability. Since the Private Warrants meet the definition of a derivative, the Company recorded the Private Warrants as liabilities on the condensed consolidated balance sheet at fair value upon the Closing, with subsequent changes in the fair value recognized in the condensed consolidated statements of operations and comprehensive loss at each reporting date. The fair value of the Private Warrants was initially measured using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The subsequent measurements of the Private Warrants after the detachment of the Public Warrants from the Units are classified as Level 2 fair value measurements due to the use of an observable market quote for the Public Warrants, which are considered to be a similar asset in an active market. The Public Warrants also do not meet the indexation guidance in ASC 815-40 and are accounted for as liabilities as the Public Warrants include a provision whereby in a scenario on which there is not an effective registration statement, the warrant holders have a cap, 0.361 Common Shares per warrant (subject to adjustment), on the issuable number of shares in a cashless exercise. The fair value of the Public Warrants was initially measured using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 fair value measurements due to the use of an observable market quote in an active market.
Operating segment	Operating segment Operating segments are defined as components of an enterprise for which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for allocating and evaluating financial performance. As such, the Company views its operations and manages its business in one operating and reportable segment. See Note 12 - Geographic areas .
Foreign currency translation and transactions	Foreign currency translation and transactions The Company’s reporting currency is the U.S. dollar. Generally, the functional and reporting currency of its international subsidiaries is the currency of their primary economic environment. Accordingly, all foreign balance sheet accounts have been translated into the U.S. dollars using the rate of exchange at the respective balance sheet date. Components of the condensed consolidated statements of operation and comprehensive loss have been translated at the average exchange rate for the year or the corresponding period. Translation gains and losses are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. Gains or losses arising from currency exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in the condensed consolidated statements of operations and comprehensive loss. For the three months ended September 30, 2022, the Company recorded $956,000 of foreign currency transaction gain in other income in its condensed consolidated statement of operations. For the three months ended September 30, 2021, the Company recorded $29,000 of foreign currency transaction loss in other income in its condensed consolidated statement of operations and comprehensive loss. For the nine months ended September 30, 2022 and 2021, the Company recorded $1,322,000 and $538,000 in foreign currency transaction gain, respectively, in other income in its condensed consolidated statements of operations and comprehensive loss.
Cash and cash equivalents	Cash and cash equivalents The Company’s cash and cash equivalents consists of money held in demand depository accounts. The carrying amount of cash was $13.8 million and $9.5 million as of September 30, 2022 and December 31, 2021, respectively, which approximates fair value and was determined based upon Level 1 inputs. The Company did not hold short-term investments as of September 30, 2022 and December 31, 2021.
Fair value of financial instruments	Fair value of financial instruments Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: ⮚ Level 1—Quoted prices in active markets for identical assets or liabilities. ⮚ Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. ⮚ Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company recognizes transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. The carrying amounts reflected in the condensed consolidated balance sheets for cash , trade accounts receivable, net, trade accounts payable and accrued expenses approximate their fair values (Level 1). The Company carries its marketable investments at cost, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments by the same issuer, as they represent investments in privately held companies for which there are no quoted market prices. As of September 30, 2022 and December 31, 2021, the Company estimated the fair value of its securities denominated in Canadian dollars to be C$10.2 million for both periods presented, and its securities denominated in United States dollars to be $1.2 million and $279,000, respectively. The Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities in the condensed consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the condensed consolidated statements of operations. The Warrants were initially valued using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The binomial lattice model’s primary unobservable input utilized in determining the fair value of the Warrants is the expected volatility of the Common Shares. The expected volatility as of the initial public offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The expected volatility as of subsequent valuation dates was implied from the Company’s own Public Warrant pricing. For periods subsequent to the detachment of the Public Warrants from the Units, the close price of the Public Warrants was used as the fair value of the Warrants as of each relevant date. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 fair value measurements due to the use of an observable market quote in an active market. The subsequent measurements of the Private Warrants after the detachment of the Public Warrants from the Units are classified as Level 2 fair value measurements due to the use of an observable market quote for the Public Warrants, which are considered to be a similar asset in an active market. As of September 30, 2022, the liabilities for the Warrants were calculated by multiplying the quoted market price per DPCM Public Warrant of $0.31 by the 17,920,898 Warrants outstanding (see Note 8). Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs.
Net income (loss) per share	Net income (loss) per share Basic net loss per common share is computed by dividing the net loss available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders adjusted by any preferred stock dividends declared during the period by the weighted average number of common shares and potential common shares outstanding when the impact is not antidilutive. Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued. Shares issuable for little or no cash consideration shall be considered outstanding common shares and included in the computation of basic EPS.
Concentration risk	Concentration riskAgreements which potentially subject the Company to concentration risk consist principally of two to three customer agreements.
Government assistance	Government assistance The Company receives various forms of government assistance including (i) government grants (ii) investment credits, and (iii) government loans, for research and development initiatives from Canadian government agencies. The Company recognizes grants and investment tax credits relating to qualifying scientific research and development expenditures as a reduction of the related eligible expenses (research and development expenses) in its condensed consolidated statement of operations and comprehensive loss. Grants and investment tax credits are recognized in the period during which the related qualifying expenses are incurred, provided that the conditions under which the grants and investment tax credits have been met. The Company recognizes grants and investment tax credits in an amount equal to the estimated qualifying expenses incurred in each period multiplied by the applicable reimbursement percentage. Grants and investment tax credits that are recognized upon incurring qualifying expenses in advance of receipt of grant funding or proceeds from research and development incentives are recorded in the condensed consolidated balance sheets as research incentives receivable. In circumstances where the grants received relate to prior period eligible expenses, the Company recognizes them as government assistance in its condensed consolidated statement of operations and comprehensive loss in the current period. During the three months ended September 30, 2022 and 2021, the Company recorded a Scientific Research and Experimental Development (“SR&ED”) investment tax credit of $0.1 million and $$0.5 million in 2022 and 2021, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. During the nine months ended September 30, 2022 and 2021, the Company recorded a SR&ED investment tax credit of $1.0 million and $1.2 million, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. The Company has received government loans under funding agreements that bear interest at rates that are below market rates of interest or are interest-free. The Company accounts for the imputed benefit arising from the difference between a market rate of interest and the rate of interest charged as additional grant funding, and records interest expense for the loans at a market rate of interest. On the date that loan proceeds are earned, the Company recognizes the portion of the loan proceeds allocated to grant funding as a discount to the carrying value of the loan and as other liability, which is subsequently recognized as additional government assistance upon draw down of the qualified loan amounts.
Revenue recognition	Revenue recognition The Company recognizes revenue in accordance with Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and accounts for certain contract costs in accordance with FASB’s Accounting Standards Codification (“ASC”) 340-40, Other Assets and Deferred Costs-Contracts with Customers . The standard was adopted on a full retrospective method on January 1, 2018. The adoption of ASC 606 had no impact on the Company and as such there was no recorded transition adjustment. The core principle of ASC 606 is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To support this core principle, the Company applies the following five step approach: ⮚ Identify the contract with the customer ⮚ Identify the performance obligations ⮚ Determine the transaction price ⮚ Allocate the transaction price to the performance obligations ⮚ Recognize revenue when (or as) the entity satisfies a performance obligation The Company generates revenue through subscription sales to access its Quantum Computing as a Service (“QCaaS”) cloud platform and from professional services related to the practical applications of quantum computing technology to solve its customers’ business challenges, to develop quantum proofs-of-concepts, pilot hybrid quantum applications and to put those applications into production. In addition, the Company also earns revenue from providing training regarding quantum computing systems and building related applications. In arrangements with re-sellers of the Company’s cloud services, the re-seller is considered the customer and the Company does not have any contractual relationships with the re-sellers’ end users. For these arrangements, revenue is recognized at the amount charged to the re-seller and does not reflect any mark-up to the end user.
Recently adopted accounting standards and amendments and Recent accounting pronouncements not yet adopted	Recently adopted accounting standards and amendments D-Wave is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. D-Wave is provided the option to adopt new or revised accounting guidance as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) either (1) within the same periods as those otherwise applicable to public business entities, or (2) within the same time periods as private companies, including early adoption when permissible. The Company elected to early adopt, when permissible, new or revised accounting guidance within the same time period as private companies, as indicated in Note 2 of its audited consolidated financial statements as of December 31, 2021 and 2020, included in the Resale Registration Statement. Recent accounting pronouncements not yet adopted In November 2021, the FASB issued ASU No.2021-10, Disclosures by Business Entities about Government Assistance . ASU 2021-10 was issued to increase the transparency of government assistance. ASU 2021-10 requires that entities make certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The required disclosures include: (1) information about the nature of the transactions and the related accounting policy used to account for the transactions; (2) the line items on the balance sheet and income statement that are affected by the transactions, and the amounts applicable to each financial statement line item; and (3) significant terms and conditions of the transactions, including commitments and contingencies. The amendments in ASU 2021-10 are effective for all entities within their scope for financial statements issued for annual periods beginning after December 15, 2021. Early application of the amendments is permitted. An entity should apply the amendments in ASU 2021-10 either (1) prospectively to all transactions within the scope of the amendments that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or (2) retrospectively to those transactions. The Company plans to adopt the ASU 2021-10 on December 31, 2022 with an effective date of January 1, 2022. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Liabilities measured at fair value on a recurring basis	The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of September 30, 2022 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): Description Level September 30, 2022 Liabilities: Warrant Liabilities – Public Warrants 1 $ 3,018 Warrant Liabilities – Private Placement Warrants 2 $ 2,480

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2022
Reverse Recapitalization [Abstract]
Business combination	The following table presents the net proceeds from the Business Combination and PIPE Investment for the nine months ended September 30, 2022 (in thousands): Recapitalization Cash - DPCM trust and cash, net of redemptions $ 9,130 Cash - PIPE Investment 40,000 Less: Non-cash net liabilities assumed from DPCM (13,728) Less: Transaction costs (14,017) Net Business Combination and PIPE Investment 21,385 Add back: Non-cash net liabilities assumed from DPCM 13,728 Add back: Accrued transaction costs 2,459 Net cash contribution from Business Combination and PIPE Investment $ 37,572 The following table presents the number of shares of Common Shares issued immediately following the consummation of the Business Combination, PIPE Investment, and closing of the ELOC: Number of Shares Exchange of DPCM Class A common stock for D-Wave Quantum Inc. common stock upon Business Combination (1) 1,311,937 Exchange of DPCM Class B common stock for D-Wave Quantum Inc. common stock upon Business Combination (2) 3,015,575 D-Wave Quantum Inc. common stock issued in PIPE Investment upon Business Combination 5,816,528 Business Combination and PIPE shares 10,144,040 Exchange of D-Wave Systems Inc. common stock for D-Wave Quantum Inc. common stock (including Exchangeable Shares) upon Business Combination (3) 99,736,752 D-Wave Quantum Inc. common stock issued to Lincoln Park for the ELOC closing commitment upon Business Combination 127,180 Total D-Wave Quantum Inc. common stock (including Exchangeable Shares) outstanding immediately after Business Combination, PIPE Investment, and closing of the ELOC 110,007,972

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table depicts the disaggregation of revenue by type of products or services and timing of transfer of products or services (in thousands): Three months ended September 30, 2022 2021 Type of products or services QCaaS $ 1,346 $ 980 Professional services 347 306 Other revenue 2 21 Total revenue, net $ 1,695 $ 1,307 Timing of revenue recognition Revenue recognized over the time $ 1,660 $ 1,247 Revenue recognized at a point in time 35 60 Total revenue, net $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 Type of products or services QCaaS $ 3,905 $ 3,063 Professional services 812 736 Other revenue 61 54 Total revenue, net $ 4,778 $ 3,853 Timing of revenue recognition Revenue recognized over the time $ 4,618 $ 3,773 Revenue recognized at a point in time 160 80 Total revenue, net $ 4,778 $ 3,853 The following table presents a summary of revenue by geography for the three and nine month periods ended September 30, 2022 and 2021: Three months ended September 30, 2022 2021 United States $ 951 $ 784 Japan 293 304 Germany 237 70 Other 214 149 Total revenue $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 United States $ 2,461 $ 2,100 Japan 1,008 1,197 Germany 757 197 Other 552 359 Total revenue $ 4,778 $ 3,853
Accounts receivable, contract assets and liabilities, and changes in deferred revenue	The following table provides information about account receivable, contract assets and liabilities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, 2022 2021 Contract assets: Trade account receivable $ 740 $ 421 Unbilled receivables, which are included in 'Prepaid expenses and other current assets' 252 17 Total contract assets 992 438 Contract liabilities: Deferred revenue, current 1,989 2,665 Deferred revenue, noncurrent — 54 Customer deposit, which are included in 'Accrued expenses and other current liabilities' 21 21 Total contract liabilities $ 2,010 $ 2,740 Changes in deferred revenue from contracts with customers were as follows (in thousands): September 30, December 31, 2022 2021 Balance at beginning of period $ 2,719 $ 4,713 Deferral of revenue 3,554 4,092 Recognition of deferred revenue (4,284) (6,086) Balance at end of period $ 1,989 $ 2,719

Balance sheet details (Tables)

Balance sheet details (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses and other liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2022 2021 Accrued expenses: Accrued transaction costs $ 2,459 $ — Accrued professional services 1,010 1,953 Accrued compensation and related benefits 1,438 1,108 Other accruals 113 318 Other current liabilities: Other payroll expenses $ 247 $ 175 Customer deposit 21 21 Current portion of long term debt, net 30 39 Total accrued expenses and other current liabilities $ 5,318 $ 3,614
Prepaid expenses and other current assets	Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2022 2021 Prepaid expenses: Prepaid Lincoln Park commitment fee $ 3,279 $ — Prepaid services 1,319 125 Prepaid software 1,027 531 Prepaid rent 121 151 Prepaid commissions 117 84 Other 11 156 Other current assets: Directors and Officers insurance $ 2,028 $ — Unbilled receivables 252 17 Security deposits 36 52 Total prepaid expenses and other current assets $ 8,190 $ 1,116

Property and equipment, net (Ta

Property and equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2022 2021 Quantum computer systems $ 13,425 $ 13,425 Lab equipment 6,664 6,645 Computer equipment 3,439 3,305 Leasehold improvements 1,074 1,074 Furniture and fixtures 318 316 Construction-in-progress 379 285 Total property and equipment 25,299 25,050 Less: Accumulated depreciation (22,762) (21,801) Property and equipment, net $ 2,537 $ 3,249

Loans payable (Tables)

Loans payable (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Components of loans payable	The following table shows the component of loans payable (in thousands): September 30, December 31, 2022 2021 Loan payable, beginning of period $ 29,844 $ 13,624 SIF contribution — 16,786 Financing of Directors and Officers Insurance 2,893 — Venture Loan 20,000 — Payments (1,262) (399) Interest and final fee on Venture Loan 1,808 — Repayment of the Venture Loan (21,808) — Foreign exchange (gain) loss (1,948) (167) Loan payable, end of period $ 29,527 $ 29,844 Discount, beginning of period $ (17,391) $ (11,948) SIF discount on additional contribution — (7,167) TPC discount on additional contribution — — Venture Loan discount (130) — Interest expense 1,902 1,728 Foreign exchange (gain) loss 1,236 (4) Total discount, end of period $ (14,383) $ (17,391) Total loans payable, end of period $ 15,144 $ 12,453 Short-term portion 2,232 220 Long-term portion 12,912 12,233 Total loans payable $ 15,144 $ 12,453

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Assumptions used to estimate fair value of stock options granted	The assumptions used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021 are as follows: Nine months ended September 30, 2022 2021 Expected dividend yield — — Expected volatility 70.6 % 56.3 % Expected term (years) 6.1 6.1 Risk-free interest rate 3.0 % 0.9 %
Stock option activity	The following table summarizes the Company’s stock option activity during the periods presented (in thousands except share and per share data): Number of options outstanding Weighted average exercise price ($) Weighted average remaining contractual term (years) Aggregate intrinsic value ($) Balance as of December 31, 2021 16,336,134 $ 0.81 8.55 $ 80,179 Granted 1,500,081 10.07 Exercised (174,378) 0.81 Forfeited (944,087) 0.81 Expired (28,981) 0.81 Balance as of September 30, 2022 16,688,769 $ 1.64 6.96 $ 74,546 Exercisable as of September 30, 2022 12,128,516 $ 0.84 6.20 $ 59,344
Preferred stock warrants outstanding and exercisable	As of September 30, 2022, the following preferred stock warrants of D-Wave Systems were outstanding and exercisable: Number of warrants outstanding Weighted average exercise price ($) Expiry Date Number exercisable 3,247,637 $ 1.92 29-Nov-26 1,299,055 Total, September 30, 2022 3,247,637 $ 1.92 1,299,055
Stock-based compensation expense	The following table summarizes the stock-based compensation expense classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three months ended September 30, 2022 2021 Research and development $ 329 $ 63 General and administrative 1,640 105 Sales and marketing 58 57 Total stock-based compensation $ 2,027 $ 225 Nine months ended September 30, 2022 2021 Research and development $ 539 $ 150 General and administrative 2,909 278 Sales and marketing 247 127 Total stock-based compensation $ 3,695 $ 555

Net loss per share (Tables)

Net loss per share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021 (in thousands, except share and per share data): For the three months ended September 30, 2022 2021 Numerator: Net loss attributable to common stockholders - basic and diluted $ (13,053) $ (4,209) Denominator: Weighted-average common stock outstanding 116,256,805 125,362,390 Net loss per share attributable to common stockholders - basic and diluted $ (0.11) $ (0.03) For the nine months ended September 30, 2022 2021 Numerator: Net loss attributable to common stockholders - basic and diluted $ (37,868) $ (17,705) Denominator: Weighted-average common stock outstanding 122,337,727 125,331,065 Net loss per share attributable to common stockholders - basic and diluted $ (0.31) $ (0.14)
Potentially dilutive securities	Potentially dilutive securities (upon conversion) that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: As of September 30, 2022 2021 Public Warrants as converted to Common Shares (Note 8) 14,426,301 — Private Warrants as converted to Common Shares (Note 8) 11,633,060 — D-Wave Systems Warrant Shares as converted to Common Shares (Note 11) 2,889,282 2,889,282 Options to purchase common stock as converted to Common Shares 14,847,108 14,608,809 Total 43,795,751 17,498,091

Geographic areas (Tables)

Geographic areas (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Disaggregation of revenue	The following table depicts the disaggregation of revenue by type of products or services and timing of transfer of products or services (in thousands): Three months ended September 30, 2022 2021 Type of products or services QCaaS $ 1,346 $ 980 Professional services 347 306 Other revenue 2 21 Total revenue, net $ 1,695 $ 1,307 Timing of revenue recognition Revenue recognized over the time $ 1,660 $ 1,247 Revenue recognized at a point in time 35 60 Total revenue, net $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 Type of products or services QCaaS $ 3,905 $ 3,063 Professional services 812 736 Other revenue 61 54 Total revenue, net $ 4,778 $ 3,853 Timing of revenue recognition Revenue recognized over the time $ 4,618 $ 3,773 Revenue recognized at a point in time 160 80 Total revenue, net $ 4,778 $ 3,853 The following table presents a summary of revenue by geography for the three and nine month periods ended September 30, 2022 and 2021: Three months ended September 30, 2022 2021 United States $ 951 $ 784 Japan 293 304 Germany 237 70 Other 214 149 Total revenue $ 1,695 $ 1,307 Nine months ended September 30, 2022 2021 United States $ 2,461 $ 2,100 Japan 1,008 1,197 Germany 757 197 Other 552 359 Total revenue $ 4,778 $ 3,853
Long-lived assets by geographic area	The following table sets forth the long-lived assets, consisting of property and plant, net, and operating lease right-of-use assets, by geographic area as of September 30, 2022 and December 31, 2021 as follows (in thousands): September 30, December 31, 2022 2021 Canada $ 10,106 $ 11,251 United States 497 576 Total long-lived assets $ 10,603 $ 11,827
Significant customers	The tables below present the significant customers on a percentage of total revenue basis for the three and nine month periods ended September 30, 2022 and 2021. Three months ended September 30, 2022 2021 Customer A 15 % 15 % Customer B 11 % 11 % Customer C 10 % — % Nine months ended September 30, 2022 2021 Customer A 13 % 13 % Customer B 13 % 12 %

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Other Narrative (Details) $ / shares in Units, $ in Thousands, $ in Millions		3 Months Ended		9 Months Ended
	Aug. 05, 2022 USD ($) shares	Sep. 30, 2022 USD ($) board_member $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) board_member segment $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 CAD ($) board_member shares	Jun. 16, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2021 CAD ($)
Accounting Policies [Line Items]
Number of board members | board_member		7		7		7
Common stock, par value (in usd per share) | $ / shares		$ 0.0001		$ 0.0001				$ 0.0001
Accumulated deficit		$ 363,136		$ 363,136				$ 325,268
Working capital deficit		11,700		11,700
Net loss		13,053	$ 4,209	37,868	$ 17,705
Net cash outflows from operations				34,270	27,615
Cash		$ 13,764		$ 13,764				9,483
Gross proceeds received from Business Combination	$ 49,000
ELOC, right to sell common stock							$ 150,000
ELOC, ownership restriction percentage							9.90%
ELOC, floor stock price (in usd per share) | $ / shares							$ 1
Cap on common stock issuable per warrant		0.361		0.361		0.361
Number of operating segments | segment				1
Number of reportable segments | segment				1
Foreign currency transaction gain		$ 956	29	$ 1,322	538
Marketable investments, fair value		1,200		1,200		$ 10.2		279	$ 10.2
Marketable investments		$ 1,200		$ 1,200				$ 5
Warrants, quoted price (in usd per share) | $ / shares		$ 0.31		$ 0.31
Warrants outstanding (in shares) | shares		17,920,898		17,920,898		17,920,898
SR&ED investment tax credit		$ 100	$ 500	$ 1,000	$ 1,200
ELOC
Accounting Policies [Line Items]
Issuance of common stock (in shares) | shares	127,180			381,540
Board member designated by DCPM
Accounting Policies [Line Items]
Number of board members | board_member		1		1		1
Board member retained from D-Wave Systems' board
Accounting Policies [Line Items]
Number of board members | board_member		3		3		3
Independent board members
Accounting Policies [Line Items]
Number of board members | board_member		3		3		3
D-Wave Systems Existing Stockholders
Accounting Policies [Line Items]
Voting interest		91%		91%		91%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Liabilities:
Warrants	$ 5,498	$ 0
Level 1 | Public Warrants
Liabilities:
Warrants	3,018
Level 2 | Private Warrants
Liabilities:
Warrants	$ 2,480

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Concentration Risk (Details) - Revenue - Customer concentration risk	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	15%	15%	13%	13%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%	13%	12%
Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	10%	0%
Two Customers
Concentration Risk [Line Items]
Concentration risk, percentage			13%

Business Combination - Narrativ

Business Combination - Narrative (Details) $ / shares in Units, $ in Thousands	Aug. 05, 2022 USD ($) $ / shares shares	Sep. 30, 2022 shares	Aug. 04, 2022 shares	Dec. 31, 2021 shares
Schedule Of Reverse Recapitalization [Line Items]
Exchange ratio	1.4541326
Sale of stock, price (in usd per share) | $ / shares	$ 10
Cash - PIPE Investment | $	$ 40,000
Net proceeds received | $	$ 21,385
Common stock, outstanding (in shares)	110,007,972	110,377,357		2,817,498
Stock forfeited (in shares)			4,484,425
Conversion ratio	0.889657
DCPM Class A common stock
Schedule Of Reverse Recapitalization [Line Items]
Stock exchanged (in shares)	902,213
DCPM Class A common stock subject to redemption
Schedule Of Reverse Recapitalization [Line Items]
Common stock, outstanding (in shares)			30,000,000
Stock redeemed (in shares)			29,097,787
DCPM Class B common stock
Schedule Of Reverse Recapitalization [Line Items]
Common stock, outstanding (in shares)	3,015,575		7,500,000
D-Wave Systems common stock
Schedule Of Reverse Recapitalization [Line Items]
Common stock, outstanding (in shares)			112,106,972
D-Wave Systems Inc. Stockholders
Schedule Of Reverse Recapitalization [Line Items]
Exchange of common stock (in shares)	99,736,752
D-Wave Systems Inc. Stockholders | Exchangeable Shares
Schedule Of Reverse Recapitalization [Line Items]
Exchange of common stock (in shares)	48,409,601

Business Combination - Net Proc

Business Combination - Net Proceeds (Details) - USD ($) $ in Thousands		9 Months Ended
	Aug. 05, 2022	Sep. 30, 2022	Sep. 30, 2021
Reverse Recapitalization [Abstract]
Cash - DPCM trust and cash, net of redemptions	$ 9,130
Cash - PIPE Investment	40,000
Less: Non-cash net liabilities assumed from DPCM	(13,728)
Less: Transaction costs	(14,017)	$ (6,528)	$ 0
Net Business Combination and PIPE Investment	21,385
Add back: Non-cash net liabilities assumed from DPCM	13,728
Reverse Recapitalization, Accrued Transaction Costs	2,459
Net cash contribution from Business Combination and PIPE Investment	$ 37,572

Business Combination - Common S

Business Combination - Common Stock (Details) - shares		9 Months Ended
	Aug. 05, 2022	Sep. 30, 2022	Aug. 04, 2022	Dec. 31, 2021
Schedule Of Reverse Recapitalization [Line Items]
Business Combination and PIPE shares (in shares)	10,144,040
Common stock, outstanding (in shares)	110,007,972	110,377,357		2,817,498
PIPE
Schedule Of Reverse Recapitalization [Line Items]
Issuance of common stock (in shares)	5,816,528
ELOC
Schedule Of Reverse Recapitalization [Line Items]
Issuance of common stock (in shares)	127,180	381,540
DCPM Class B common stock
Schedule Of Reverse Recapitalization [Line Items]
Common stock, outstanding (in shares)	3,015,575		7,500,000
DPCM Capital, Inc. Stockholders | DCPM Class A common stock
Schedule Of Reverse Recapitalization [Line Items]
Exchange of common stock (in shares)	1,311,937
DPCM Capital, Inc. Stockholders | DCPM Class B common stock
Schedule Of Reverse Recapitalization [Line Items]
Exchange of common stock (in shares)	3,015,575
D-Wave Systems Inc. Stockholders
Schedule Of Reverse Recapitalization [Line Items]
Exchange of common stock (in shares)	99,736,752

Revenue from contracts with c_3

Revenue from contracts with customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 1,695	$ 1,307	$ 4,778	$ 3,853
Revenue recognized over the time
Disaggregation of Revenue [Line Items]
Total revenue, net	1,660	1,247	4,618	3,773
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue, net	35	60	160	80
QCaaS
Disaggregation of Revenue [Line Items]
Total revenue, net	1,346	980	3,905	3,063
Professional services
Disaggregation of Revenue [Line Items]
Total revenue, net	347	306	812	736
Other revenue
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 2	$ 21	$ 61	$ 54

Revenue from contracts with c_4

Revenue from contracts with customers - Receivables, Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Contract assets:
Trade account receivable	$ 740	$ 421
Unbilled receivables, which are included in 'Prepaid expenses and other current assets'	252	17
Total contract assets	992	438
Contract liabilities:
Deferred revenue, current	1,989	2,665
Deferred revenue, noncurrent	0	54
Customer deposit, which are included in 'Accrued expenses and other current liabilities'	21	21
Total contract liabilities	$ 2,010	$ 2,740

Revenue from contracts with c_5

Revenue from contracts with customers - Change in Deferred Revenue (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Contract With Customer, Liability [Roll Forward]
Balance at beginning of period	$ 2,719	$ 4,713
Deferral of revenue	3,554	4,092
Recognition of deferred revenue	(4,284)	(6,086)
Balance at end of period	$ 1,989	$ 2,719

Revenue from contracts with c_6

Revenue from contracts with customers - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2	$ 2.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage		98%
Remaining performance obligation, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	99%
Remaining performance obligation, period	12 months

Balance sheet details - Accrued

Balance sheet details - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accrued expenses:
Accrued transaction costs	$ 2,459	$ 0
Accrued professional services	1,010	1,953
Accrued compensation and related benefits	1,438	1,108
Other accruals	113	318
Other current liabilities:
Other payroll expenses	247	175
Customer deposit	21	21
Current portion of long term debt, net	30	39
Total accrued expenses and other current liabilities	$ 5,318	$ 3,614

Balance sheet details - Prepaid

Balance sheet details - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid expenses:
Prepaid Lincoln Park commitment fee	$ 3,279	$ 0
Prepaid services	1,319	125
Prepaid software	1,027	531
Prepaid rent	121	151
Prepaid commissions	117	84
Other	11	156
Other current assets:
Directors and Officers insurance	2,028	0
Unbilled receivables	252	17
Security deposits	36	52
Total prepaid expenses and other current assets	$ 8,190	$ 1,116

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 25,299		$ 25,299		$ 25,050
Less: Accumulated depreciation	(22,762)		(22,762)		(21,801)
Property and equipment, net	2,537		2,537		3,249
Depreciation expense	338	$ 393	1,000	$ 1,100
Quantum computer systems
Property, Plant and Equipment [Line Items]
Total property and equipment	13,425		13,425		13,425
Lab equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	6,664		6,664		6,645
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	3,439		3,439		3,305
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	1,074		1,074		1,074
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	318		318		316
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 379		$ 379		$ 285

Loans payable - Components (Det

Loans payable - Components (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
	Aug. 05, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Loans payable
Loan payable, beginning of period		$ 29,844	$ 13,624	$ 13,624
Contributions				16,786
Payments		(20,000)	(23)
Interest expense		1,808
Foreign exchange (gain) loss		(1,948)		(167)
Loan payable, end of period		29,527		29,844
Discount
Discount, beginning of period		(17,391)	$ (11,948)	(11,948)
Additional contribution discount		(130)		(7,167)
Interest expense		1,902		1,728
Foreign exchange (gain) loss		1,236		(4)
Total discount, end of period		(14,383)		(17,391)
Total loans payable		15,144		12,453
Current portion of long term debt, net		2,232		220
Loans payable, noncurrent		12,912		12,233
Other notes payable | Financing of Directors and Officers Insurance
Loans payable
Contributions		2,893
Discount
Total loans payable		2,000
Other notes payable | Venture Loan
Loans payable
Contributions		20,000
Payments	$ (21,800)	(21,808)
Other notes payable | Other Loans
Loans payable
Payments		$ (1,262)		$ (399)

Loans payable - Narrative (Deta

Loans payable - Narrative (Details) $ in Thousands, $ in Millions					9 Months Ended		12 Months Ended
	Aug. 05, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 03, 2022 USD ($)	Nov. 20, 2020 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Nov. 20, 2020 CAD ($)
Debt Instrument [Line Items]
Contributions							$ 16,786
Debt payments					$ 20,000	$ 23
SIF Loan
Debt Instrument [Line Items]
Face amount								$ 40
Term				15 years
Repayment benchmark year, revenue				$ 70,000
Repayment benchmark year, period				14 years				14 years
Discount percentage				26%				26%
Venture Loan | Other notes payable
Debt Instrument [Line Items]
Face amount			$ 25,000
Contributions					20,000
Payment for directors and officers insurance		$ 5,000	$ 15,000
Debt payments	$ 21,800				$ 21,808
Venture Loan | Prime rate | Other notes payable
Debt Instrument [Line Items]
Basis spread on variable rate			7.25%
Variable rate basis, floor			3.25%

Warrant liabilities (Details)

Warrant liabilities (Details) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 05, 2022 shares	Sep. 30, 2022 USD ($) day $ / shares shares	Sep. 30, 2021 USD ($)
Class of Warrant or Right [Line Items]
Warrants exercised (in shares)		79,102
Proceeds from exercise of public warrants | $		$ 910	$ 0
Stock issued for exercise of warrants (in shares)		115,025
Exchange ratio	1.4541326
Warrants outstanding (in shares)		17,920,898
Warrants, exercise price, prior to exchange ratio (in usd per share) | $ / shares		$ 11.50
Warrants, exercise price (in usd per share) | $ / shares		7.91
Warrants, redemption price (in usd per share) | $ / shares		$ 0.10
Warrants, redemption notice period		30 days
Warrants, redemption share price threshold trading days | day		20
Warrants, redemption share price threshold consecutive trading days		30 days
Reference value (in usd per share) | $ / shares		$ 18
Public Warrants
Class of Warrant or Right [Line Items]
Business Combination, warrants assumed (in shares)	10,000,000
Private Warrants
Class of Warrant or Right [Line Items]
Business Combination, warrants assumed (in shares)	8,000,000

Promissory note - related par_2

Promissory note - related party (Details) - USD ($)	Sep. 30, 2022	Apr. 13, 2022	Feb. 28, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Promissory note - related party	$ 420,000			$ 0
Affiliated Entity | Affiliate Note
Related Party Transaction [Line Items]
Notes Payable, Related Parties, Borrowing Capacity			$ 1,000,000
Promissory note - related party	200,000
Affiliated Entity | DCPM Note
Related Party Transaction [Line Items]
Notes Payable, Related Parties, Borrowing Capacity		$ 1,000,000
Promissory note - related party	$ 220,000

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($)		9 Months Ended
	Apr. 14, 2022	Sep. 30, 2022	Sep. 30, 2021	Nov. 30, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common shares reserved for future issuance (in shares)		16,965,849
Period over which shares reserved for future issuance will increase		9 years
Additional shares reserved for issuance, percentage		5%
Options granted (in shares)		1,500,081
Weighted average grant date fair value, stock options granted (in usd per share)		$ 3.1	$ 0.36
Fair value of stock options vested		$ 6,564,103	$ 812,329
Warrants, exercise price (in usd per share)		$ 7.91
Warrants outstanding (in shares)		17,920,898
Public Warrants as converted to Common Shares (Note 8)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield		0%	0%
2022 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted (in shares)		1,500,081
2020 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted (in shares)		4,341,966
Common stock warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants expired (in shares)	617,972
Warrants, exercise price (in usd per share)	$ 1.75
Warrants outstanding (in shares)		0
Preferred stock warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants, exercise price (in usd per share)				$ 2.16
Warrants outstanding (in shares)		3,247,637
Warrants, number of shares issuable (in shares)		2,889,282		3,247,637

Stock-based compensation - Assu

Stock-based compensation - Assumptions Used to Estimate Fair Value of Stock Options Granted (Details) - Options	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0%	0%
Expected volatility	70.60%	56.30%
Expected term	6 years 1 month 6 days	6 years 1 month 6 days
Risk-free interest rate	3%	0.90%

Stock-based compensation - Stoc

Stock-based compensation - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of options outstanding
Balance (in shares)	16,336,134
Granted (in shares)	1,500,081
Exercised (in shares)	(174,378)
Forfeited (in shares)	(944,087)
Expired (in shares)	(28,981)
Balance (in shares)	16,688,769	16,336,134
Exercisable (in shares)	12,128,516
Weighted  average  exercise  price  ($)
Balance (in usd per share)	$ 0.81
Granted (in usd per share)	10.07
Exercised (in usd per share)	0.81
Forfeited (in usd per share)	0.81
Expired (in usd per share)	0.81
Balance (in usd per share)	1.64	$ 0.81
Exercisable (in usd per share)	$ 0.84
Weighted average remaining contractual term (years)
Balance	6 years 11 months 15 days	8 years 6 months 18 days
Exercisable	6 years 2 months 12 days
Aggregate intrinsic value ($)
Balance	$ 74,546	$ 80,179
Exercisable	$ 59,344

Stock-based compensation - Pref

Stock-based compensation - Preferred Stock Warrants (Details) - $ / shares	Sep. 30, 2022	Nov. 30, 2020
Class of Warrant or Right [Line Items]
Number of warrants outstanding (in shares)	17,920,898
Weighted average exercise price (in usd per share)	$ 7.91
Preferred stock warrants
Class of Warrant or Right [Line Items]
Number of warrants outstanding (in shares)	3,247,637
Weighted average exercise price (in usd per share)		$ 2.16
Number exercisable (in shares)	1,299,055
Preferred stock warrants | Weighted average
Class of Warrant or Right [Line Items]
Weighted average exercise price (in usd per share)	$ 1.92

Stock-based compensation - Expe

Stock-based compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 2,027	$ 225	$ 3,695	$ 555
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	329	63	539	150
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,640	105	2,909	278
Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 58	$ 57	$ 247	$ 127

Commitments and contingencies (

Commitments and contingencies (Details) - USD ($)		1 Months Ended
	Aug. 05, 2022	Sep. 30, 2022	Nov. 30, 2021	Dec. 31, 2021	Nov. 30, 2020	Aug. 13, 2020
Other Commitments [Line Items]
Warrants		$ 5,498,000		$ 0
Warrants, exercise price (in usd per share)		$ 7.91
Lease term		12 months	10 years 6 months
Right-of-use asset and operating lease liability		$ 200,000	$ 6,800,000
Outstanding amount		15,144,000		12,453,000
Other notes payable | Financing of Directors and Officers Insurance
Other Commitments [Line Items]
Face amount	$ 2,800,000
Payment amount	$ 289,777
Interest rate	4.24%
Term	9 months
Outstanding amount		$ 2,000,000
Preferred stock warrants
Other Commitments [Line Items]
Warrants, number of shares issuable (in shares)		2,889,282			3,247,637
Warrants vested, percentage						40%
Warrants					$ 1,100,000
Warrants vested, fair value				$ 0
Warrants, exercise price (in usd per share)					$ 2.16

Net loss per share - Computatio

Net loss per share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss attributable to common stockholders - basic		$ (13,053)	$ (4,209)	$ (37,868)	$ (17,705)
Net loss attributable to common stockholders - diluted		$ (13,053)	$ (4,209)	$ (37,868)	$ (17,705)
Denominator:
Weighted-average common stock outstanding, basic (in shares)	[1]	116,256,805	125,362,390	122,337,727	125,331,065
Weighted-average common stock outstanding, diluted (in shares)	[1]	116,256,805	125,362,390	122,337,727	125,331,065
Net loss per share attributable to common stockholders - basic (in usd per share)		$ (0.11)	$ (0.03)	$ (0.31)	$ (0.14)
Net loss per share attributable to common stockholders - diluted (in usd per share)		$ (0.11)	$ (0.03)	$ (0.31)	$ (0.14)
[1]Weighted-average shares have been retroactively restated to give effect to the Business Combination.

Net loss per share - Potentiall

Net loss per share - Potentially Dilutive Securities (Details) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	43,795,751	17,498,091
Warrants | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	14,426,301	0
Warrants | Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	11,633,060	0
Preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	2,889,282	2,889,282
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	14,847,108	14,608,809

Geographic areas - Disaggregati

Geographic areas - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,695	$ 1,307	$ 4,778	$ 3,853
Total long-lived assets	10,603		10,603		$ 11,827
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	10,106		10,106		11,251
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	951	784	2,461	2,100
Total long-lived assets	497		497		$ 576
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	293	304	1,008	1,197
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	237	70	757	197
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 214	$ 149	$ 552	$ 359

Geographic areas - Significant

Geographic areas - Significant Customers (Details) - Revenue - Customer concentration risk	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	15%	15%	13%	13%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	11%	11%	13%	12%
Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	10%	0%

Subsequent events (Details)

Subsequent events (Details) - USD ($)			1 Months Ended	9 Months Ended
	Oct. 27, 2022	Oct. 13, 2022	Nov. 10, 2022	Sep. 30, 2022	Sep. 30, 2021	Oct. 26, 2022	Jun. 16, 2022
Subsequent Event [Line Items]
Exercise of stock options (in shares)				174,378
Proceeds from issuance of common stock upon exercise of stock options				$ 72,000	$ 66,000
ELOC, right to sell common stock							$ 150,000,000
Subsequent Event
Subsequent Event [Line Items]
Exercise of stock options (in shares)			764,796
Proceeds from issuance of common stock upon exercise of stock options			$ 696,000
ELOC, right to sell common stock						$ 150,000,000
Subsequent Event | Restricted Stock Units (RSUs) | Employees
Subsequent Event [Line Items]
Awards granted (in shares)	3,578,590	4,496,833
Subsequent Event | Restricted Stock Units (RSUs) | Members of board of directors
Subsequent Event [Line Items]
Awards granted (in shares)	167,605