D-Wave Quantum (QBTS) 10-Q/A 15 Mar 24 2023 Q1 Quarterly report (amended) Financial data

Cover

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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 8,988	$ 7,065
Trade accounts receivable, net	542	757
Inventories	2,240	2,196
Prepaid expenses and other current assets	3,142	3,907
Total current assets	14,912	13,925
Property and equipment, net	2,041	2,294
Operating lease right-of-use assets	8,927	9,133
Intangible assets, net	228	244
Other noncurrent assets	1,351	1,351
Total assets	27,459	26,947
Current liabilities:
Trade accounts payable	5,608	3,756
Accrued expenses and other current liabilities	9,859	8,640
Loans payable, net, current	984	1,863
Deferred revenue, current	1,827	1,781
Total current liabilities	18,278	16,040
Warrant liabilities	1,254	1,892
Operating lease liabilities, net of current portion	7,165	7,301
Loans payable, net, noncurrent	31,413	31,168
Deferred revenue, noncurrent	9	9
Total liabilities	58,119	56,410
Commitments and contingencies (Note 12)
Stockholders' deficit:
Common stock par value $0.0001 per share; 675,000,000 shares authorized at March 31, 2023 and December 31, 2022; 127,173,552 shares and 113,335,530 shares issued and outstanding as of March 31, 2023 and December 31, 2022.	12	11
Additional paid-in capital	404,501	381,274
Accumulated deficit	(424,752)	(400,346)
Accumulated other comprehensive loss	(10,421)	(10,402)
Total stockholders' deficit	(30,660)	(29,463)
Total liabilities and stockholders’ deficit	$ 27,459	$ 26,947
Common stock, authorized (in shares)	675,000,000	675,000,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	675,000,000	675,000,000
Common stock, issued (in shares)	127,173,552	113,335,530
Common stock, outstanding (in shares)	127,173,552	113,335,530

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue		$ 1,583	$ 1,713
Cost of revenue		1,162	616
Total gross profit		421	1,097
Operating expenses:
Research and development		10,915	6,802
General and administrative		11,296	3,646
Sales and marketing		2,900	1,600
Total operating expenses		25,111	12,048
Loss from operations		(24,690)	(10,951)
Other income (expense), net:
Interest expense		(212)	(63)
Change in fair value of warrant liabilities		638	0
Other income (expense), net		(142)	(539)
Total other income (expense), net		284	(602)
Net loss		$ (24,406)	$ (11,553)
Net loss per share, basic (in usd per share)		$ (0.20)	$ (0.09)
Net loss per share, diluted (in usd per share)		$ (0.20)	$ (0.09)
Weighted-average shares used in computing net loss per share, basic (in shares)	[1]	123,144,097	125,385,841
Weighted-average shares used in computing net loss per share, diluted (in shares)	[1]	123,144,097	125,385,841
Comprehensive loss:
Net loss		$ (24,406)	$ (11,553)
Foreign currency translation adjustment, net of tax		(19)	(70)
Net comprehensive loss		$ (24,425)	$ (11,623)
[1]Weighted-average shares for the three months ended March 31, 2022 have been retroactively restated to give effect to the Merger.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total		Previously Reported	Revision of Prior Period, Adjustment	Previously Reported, Prior To Reverse Recapitalization	Revision Of Prior Period, Reverse Recapitalization, Adjustment	Non-redeemable convertible preferred stock		Non-redeemable convertible preferred stock Previously Reported	Non-redeemable convertible preferred stock Revision of Prior Period, Adjustment	Non-redeemable convertible preferred stock Previously Reported, Prior To Reverse Recapitalization	Non-redeemable convertible preferred stock Revision Of Prior Period, Reverse Recapitalization, Adjustment	Common stock		Common stock Previously Reported	Common stock Revision of Prior Period, Adjustment	Common stock Previously Reported, Prior To Reverse Recapitalization	Common stock Revision Of Prior Period, Reverse Recapitalization, Adjustment	Additional paid-in capital		Additional paid-in capital Previously Reported	Additional paid-in capital Revision of Prior Period, Adjustment	Additional paid-in capital Previously Reported, Prior To Reverse Recapitalization	Additional paid-in capital Revision Of Prior Period, Reverse Recapitalization, Adjustment	Accumulated deficit		Accumulated deficit Previously Reported	Accumulated deficit Revision of Prior Period, Adjustment	Accumulated deficit Previously Reported, Prior To Reverse Recapitalization	Accumulated deficit Revision Of Prior Period, Reverse Recapitalization, Adjustment	Accumulated other comprehensive loss		Accumulated other comprehensive loss Previously Reported	Accumulated other comprehensive loss Revision of Prior Period, Adjustment	Accumulated other comprehensive loss Previously Reported, Prior To Reverse Recapitalization	Accumulated other comprehensive loss Revision Of Prior Period, Reverse Recapitalization, Adjustment
Preferred stock, balance (in shares) at Dec. 31, 2021							122,564,333	[1]	137,765,828	0	137,765,828	(15,201,495)
Common stock, balance (in shares) at Dec. 31, 2021													2,817,498	[1]	3,166,949	0	3,166,949	(349,451)
Balance at Dec. 31, 2021	$ (18,356)	[1]	$ 3,020	$ (21,376)	$ (18,356)	$ 0	$ 189,881	[1]	$ 189,881	$ 0	$ 189,881	$ 0	$ 0	[1]	$ 2,610	$ 0	$ 2,610	$ (2,610)	$ 148,850	[1]	$ 146,240	$ 0	$ 146,240	$ 2,610	$ (346,644)	[1]	$ (325,268)	$ (21,376)	$ (346,644)	$ 0	$ (10,443)	[1]	$ (10,443)	$ 0	$ (10,443)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)													8,768
Exercise of stock options	7																		7
Stock-based compensation	783																		783
Foreign currency translation adjustment, net of tax	(70)																														(70)
Net loss	(11,553)		(11,657)	104																					(11,553)
Preferred stock, balance (in shares) at Mar. 31, 2022							122,564,333
Common stock, balance (in shares) at Mar. 31, 2022													2,826,266
Balance at Mar. 31, 2022	$ (29,189)						$ 189,881						$ 0						149,640						(358,197)						(10,513)
Common stock, balance (in shares) at Dec. 31, 2022	113,335,530												113,335,530		113,335,530	0
Balance at Dec. 31, 2022	$ (29,463)		(5,914)	(23,549)									$ 11		$ 11	$ 0			381,274		$ 381,274	$ 0			(400,346)		$ (376,797)	$ (23,549)			(10,402)		$ (10,402)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	672,583												598,368
Exercise of stock options	$ 546																		546
Issuance of common stock in connection with the Purchase Agreement (in shares)													13,239,654
Issuance of common stock in connection with the Purchase Agreement	15,683												$ 1						15,682
Stock-based compensation	6,755																		6,755
Short swing profit settlement	244																		244
Foreign currency translation adjustment, net of tax	(19)																														(19)
Net loss	$ (24,406)		(24,608)	202																					(24,406)
Common stock, balance (in shares) at Mar. 31, 2023	127,173,552												127,173,552
Balance at Mar. 31, 2023	$ (30,660)		$ (7,313)	$ (23,347)									$ 12						$ 404,501						$ (424,752)						$ (10,421)
[1]Shares of legacy non-redeemable convertible preferred stock and legacy common stock have been retroactively restated to give effect to the Merger.

Condensed consolidated statem_3

Condensed consolidated statements of cash flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (24,406)	$ (11,553)
Adjustments to reconcile net loss to cash used in by operating activities:
Depreciation and amortization	339	412
Stock-based compensation	6,755	783
Amortization of operating right of use assets	206	227
Non-cash interest expense	195	63
Change in fair value of Warrant liabilities	(638)	0
Other non-cash activities	84	885
Change in operating assets and liabilities:
Trade accounts receivable	215	(321)
Inventories	(59)	(205)
Prepaid expenses and other current assets	767	(1,952)
Trade accounts payable	1,858	(395)
Accrued expenses and other current liabilities	1,214	2,936
Deferred revenue	46	(163)
Operating lease liabilities, net of current portion	(150)	(226)
Net cash used in operating activities	(13,574)	(9,509)
Cash flows from investing activities:
Purchase of property and equipment	(64)	(123)
Purchase of software	(12)	(21)
Net cash used in investing activities	(76)	(144)
Cash flows from financing activities:
Proceeds from Lincoln Park Purchase Agreement	15,683	0
Proceeds from government assistance	0	3,178
Proceeds from issuance of common stock upon exercise of stock options	546	7
Proceeds from debt financing	0	14,700
Debt payments	(881)	(13)
Short swing profit settlement	244	0
Net cash provided by financing activities	15,592	17,872
Effect of exchange rate changes on cash and cash equivalents	(19)	(41)
Net (decrease) increase in cash and cash equivalents	1,923	8,178
Cash and cash equivalents at beginning of period	7,065	9,483
Cash and cash equivalents at end of period	8,988	17,661
Supplemental disclosure of noncash investing and financial activities:
Unpaid deferred costs	$ 0	$ 3,734

Description of business

Description of business	3 Months Ended
	Mar. 31, 2023
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 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 “Merger”) pursuant to the definitive agreement entered into on February 7, 2022 (the “Transaction Agreement”). On August 5, 2022, in conjunction with the Merger, DPCM and D-Wave Systems became wholly-owned subsidiaries of, and are operated by, the Company. Upon the completion of the Merger, the Company succeeded to all of the operations of its predecessor, D-Wave Systems. D-Wave is a commercial quantum computing company that provides customers with a full suite of professional services and web-based access to its superconducting quantum computer systems and integrated software environment through its cloud service, Leap TM . Historically, the Company has developed its own annealing superconducting quantum computer and associated software, and its current generation quantum system is the Advantage TM system. D-Wave has three operating facilities, which it leases, in North America. These facilities are located in Burnaby, British Columbia, Richmond, British Columbia, and Palo Alto, California.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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 unaudited interim condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial reporting and with the instructions to Form 10-Q/A and Article 10 of Regulation S-X. Accordingly, the condensed consolidated balance sheet as of December 31, 2022, has been derived from the audited consolidated financial statements at that date, but certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company's annual audited consolidated financial statements. Certain information and footnote disclosure normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the United States Securities and Exchange Commission ("SEC"). In the opinion of the Company, the unaudited financial information for the interim periods presented reflects all adjustments, which are normal and recurring, necessary for a fair presentation of the consolidated statement of operations and comprehensive loss, balance sheet, and cash flows. Interim results should not be regarded as indicative of results that may be expected for any other period or the entire year. 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 unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K/A as of and for the year ended December 31, 2022 filed with the SEC on March 15, 2024. The condensed consolidated statement of operations and comprehensive loss for the three month periods ended March 31, 2023 are not necessarily indicative of the results to be anticipated for the entire year ending December 31, 2023 or thereafter. All references to March 31, 2023 and 2022 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 subsidiaries. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements upon consolidation. Revision of previously issued financial statements In connection with the preparation of the Company’s financial statements as of and for the year ended December 31, 2022, the Company’s management identified certain misstatements attributable to the following: i) an understatement of reported research and development expenses for $0.3 million with respect to the Company losing the ability to receive Scientific Research and Experimental Development credits subsequently to signing the Transaction Agreement on February 7, 2022; and ii) an overstatement of non-cash interest expense for $0.3 million with respect to the Company identifying certain errors in the SIF Loan (as defined below) repayment calculation model. There was no material impact to net loss, hence there was no impact to the net loss per share, for the three months ended March 31, 2022. Restatement of Previously Issued Condensed Consolidated Financial Statements As described in Note 3 - Restatement of Previously Issued Condensed Consolidated Financial Statements, our condensed consolidated financial statements as of and for the three and nine month periods ended September 30, 2023 and 2022 are restated in this Quarterly Report on Form 10-Q (this “Amendment No.1”, this “Quarterly Report” or this “Form 10-Q/A”) to reflect the corrections related to the accounting treatment of certain government assistance arrangements in the form of conditionally repayable loans with below-market interest rates (the "Arrangements"). The restated condensed consolidated financial statements are indicated as “Restated” in the unaudited condensed consolidated financial statements and accompanying notes, as applicable. See Note 3 - Restatement of Previously Issued Condensed Consolidated Financial Statements for further discussion. Liquidity and 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 March 31, 2023, the Company had an accumulated deficit of $424.8 million. For the three months ended March 31, 2023 and 2022, the Company incurred a net loss of $24.4 million and $11.6 million respectively and the Company had net cash outflows from operating activities of $13.6 million and $9.5 million, respectively. As of March 31, 2023, the Company had $9.0 million of cash and working capital (current assets less current liabilities) deficit of $3.4 million. The Company expects to incur additional operating losses and negative cash flows from operating activities as it continues to expand its commercial operations and research and development programs. On April 13, 2023, the Company entered into the Term Loan and Security Agreement (the "Term Loan"), by and between the Company and PSPIB Unitas Investments II Inc. ("PSPIB" or the "Lender"), a related party of the Company, with an aggregate principal amount of $50.0 million to be made available to the Company, as defined in the Term Loan and Security Agreement, in three tranches. The first tranche, in an aggregate principal amount of $15.0 million, was advanced to the Company on April 14, 2023, with the second and third tranches, of $15.0 million and $20.0 million, respectively, to be made available to the Company subject to certain conditions. Prior to PSPIB's advance of the first tranche, the Company satisfied several closing conditions including the provision of a cash flow forecast and the board of directors' retention of an advisor. The second tranche, that shall be available to the Company as of July 12, 2023, is subject to the Company providing the Lender with an IP valuation report, a board-approved operating budget for 2023 through 2027, and SIF’s consent to the grant of security interests in D-Wave's project intellectual property associated with the SIF Loan. The third tranche, that shall be available to the Company as of October 10, 2023, is subject to the Company closing a $25.0 million non-dilutive financing on terms reasonably acceptable to the Lender, and the IP valuation report and board-approved operating budget for 2023 through 2027 remaining satisfactory to the Lender. Each tranche is subject to a 2.0% drawdown fee and the Term Loan matures on March 31, 2027. The initial $15.0 million tranche is expected to provide the Company with sufficient cash runway until the second $15.0 million tranche, assuming it is received when available on July 12, 2023. There can be no assurance that the Company will be able to meet the conditions necessary to draw on the second and third tranches. At the discretion of the Company, the Term Loan bears interest on a monthly basis at either (i) 10% payable in cash, or (ii) 11% payable in kind ('PIK'), with the latter added to the principal value of the Term Loan. Upon the repayment or prepayment of the Term Loan, there is a prepayment premium due the Lender that is equal to 3.0% of the amount repaid / prepaid prior to the first anniversary of the closing of the Term Loan, 2.0% of the amount repaid / prepaid after the first anniversary and before the second anniversary of the closing of the Term Loan, 1.0% of the amount repaid / prepaid after the second anniversary and before the third anniversary of the closing of the Term Loan and no prepayment premium due thereafter. The Term Loan requires that any proceeds from the issuance of Common Shares under the Purchase Agreement be applied towards the repayment of advances under the Term Loan in addition to a premium payment equal to 10% of the amount then prepaid to the Lender. The Term Loan is secured by a first-priority security interest in substantially all of the Company’s assets and contains certain operational and financial covenants. In conjunction with the Merger, the Company and D-Wave Systems entered into a purchase agreement with Lincoln Park Capital Fund, LLC ("Lincoln Park") on June 16, 2022 (the "Purchase Agreement" or the "Lincoln Park Purchase Agreement") which provides D-Wave the sole right, but not the obligation, to direct Lincoln Park to buy specified dollar amounts up to $150 million of D-Wave's common stock, par value $0.0001 per share (the "Common Shares") through June 15, 2025. The Purchase Agreement may provide the 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 three months ended March 31, 2023, the Company has received $15.7 million in proceeds through the issuance of 13,239,654 Common Shares to Lincoln Park under the Purchase Agreement. On February 13, 2023, the Company filed an S-1 registration statement with the SEC to register an additional 35.0 million shares of Common Shares under the Purchase Agreement with Lincoln Park. Since February 13, 2023, the Company's share price has been below the floor price of $1.00 and the Company may not sell shares to Lincoln Park. There is no assurance when the Company might be able to make sales to Lincoln Park in the future. To the extent that sufficient capital is not obtained through the cash received in connection with the issuance of Common Shares under the Purchase Agreement with Lincoln Park, 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 stock. 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 will be scaled back or discontinued. The Company is not currently in compliance with, and may be unable to regain and/or maintain compliance with, certain continued listing standards of the New York Stock Exchange ("NYSE"). If the Company is unable to cure any event of noncompliance with any continued listing standard of the NYSE within the applicable timeframe and other parameters set forth by the NYSE, or if the Company fails to maintain compliance with certain continued listing standards that do not provide for a cure period, it will result in the delisting of the Company’s common stock from the NYSE, which could negatively impact the trading price, trading volume and liquidity of, and have other material adverse effects on, the Company’s common stock and its ability to raise capital. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Codification (“ASC”) Topic 205-40, “ Basis of Presentation—Going Concern” , management has determined that the Company's liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern, which is considered to be for a period of one year from the issuance of these financial statements. These 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 The preparation of the condensed 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 risks and uncertainties, including uncertainty in the current economic environment due to inflation, increased interest rates, Ukraine/Russia conflict, and any evolutions thereof. 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. Sales of future revenues - debt (As Restated) On November 20, 2020, the Company entered into an agreement with the Canada Strategic Innovation Fund ("SIF"), wherein SIF committed to providing a conditionally repayable loan to the Company in the amount of up to C$40.0 million ("the SIF Loan"). The SIF Loan is conditionally repayable according to a revenue-based formula. See Note 8 for additional information concerning the SIF Loan. The Company accounted for the SIF Loan using the "sale of future revenues" guidance outlined in ASC 470-10-25 and concluded that the arrangement should be treated as debt rather than deferred revenue. The debt arising from the SIF Loan was recorded at face value and will be amortized using the effective interest method, leading to the accrual of interest expenses over the estimated term of the SIF Loan. The amortization schedule is based on projected cash flows derived from the Company's long-term revenue forecast. Subsequent changes in forecasted cash flows will be accounted for under the catch-up method, which entails adjusting the accrued interest portion of the principal balance through earnings to reflect the effective interest rate. The liability is classified as non-current at March 31, 2023 and December 31, 2022, as the current forecast indicates that repayments will not commence within the 12 months following the balance sheet date. As the SIF Loan is a government assistance arrangement in the form of a conditionally repayable loan with a below-market interest rate, a market rate of interest is not imputed in accordance with the scope limitations of ASC 835. 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 March 31, 2023 and December 31, 2022, the carrying values of the Company's marketable investments were $1.2 million, respectively, and were reported in other noncurrent assets in the consolidated balance sheets. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): Description Level March 31, 2023 Liabilities: Warrant Liabilities – Public Warrants 1 $ 694 Warrant Liabilities – Private Placement Warrants 2 $ 560 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. 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 March 31, 2023, the liabilities for the Warrants were calculated by multiplying the quoted market price per DPCM Public Warrant of $0.07 by the 17,916,609 Warrants outstanding (see Note 9). 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. Government assistance The Company receives various forms of government assistance including (i) government grants, (ii) investment credits and (iii) conditionally repayable loans with below-market interest rates (see Sales of future revenues - debt (As Restated) above). During the three months ended March 31, 2023 and 2022, the Company recorded a Scientific Research and Experimental Development (“SR&ED”) investment tax credit of nil and $0.4 million, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. Upon entering into the Transaction Agreement on February 7, 2022, the Company is no longer a Canadian Controlled Private Corporation. As a result, beginning February 7, 2022, Scientific Research and Development investment tax credits can be applied to reduce income taxes payable to the Canadian government. Any investment tax credits that are not realized will be reflected as investment tax credit carryforwards. Recent accounting pronouncements issued and adopted No recently issued accounting pronouncements that the Company has adopted have had a material effect on the Company's results of operations, cash flows or financial condition. Recent accounting pronouncements not yet adopted No other recently issued accounting pronouncements or effective during 2023 had, or are expected to have, a material impact on the Company’s results of operations, cash flows or financial condition.

Restatement of Previously Issue

Restatement of Previously Issued Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Consolidated Financial Statements	3. Restatement of Previously Issued Condensed Consolidated Financial Statements On January 30, 2024, the Audit Committee of the Board of Directors of the Company, after discussions with the Company's management and its current and former independent registered public accounting firms, determined that the Company’s unaudited financial statements included in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2023, filed with the SEC on May 19, 2023, as well as the relevant portions of any communication which describe or are based on the unaudited financial statements, should no longer be relied upon. This Note discloses the nature of the restatement adjustments and discloses the cumulative effects of these adjustments on the condensed consolidated balance sheets, statements of operations, and statements of cash flows for the three months ended March 31, 2023 and 2022 included in the original Form 10-Q. The condensed consolidated statements of stockholders’ (deficit) equity for the three months ended March 31, 2023 and 2022 have also been restated for the correction to net loss. Description of Restatement Adjustments The restatement is related to the accounting treatment for certain government assistance arrangements with SIF and TPC that originated prior to 2021 in the form of conditionally repayable loans with below-market interest rates (the "Arrangements"). In connection with the preparation of the financial statements for fiscal year 2023, it was determined that the Arrangements were not properly accounted for. The Company initially accounted for these arrangements by analogizing to IAS 20 and IFRS 9, under which the fair value of the interest rate subsidy is recognized as income and the amount repayable is discounted by imputing a market rate of interest. During the preparation of the financial statements for fiscal year 2023, the Company determined that the debt-like characteristics of the Arrangements placed them in the scope of US GAAP guidance that precludes imputation of interest where interest rates are affected by tax attributes or legal restrictions prescribed by a governmental agency. As such, the Company restated other income from government assistance and interest expense on the condensed consolidated statements of operations and comprehensive loss and research incentives receivable and loans payable on the consolidated balance sheets to eliminate the effect of non-cash interest imputation. In addition to revenue projections, the revenue-based formula that determines the cash repayments under the SIF Loan requires other inputs, including the compound annual growth rate. An error related to the compound annual growth rate input in the estimation of debt repayment cash flows was also corrected. The effects of the restatement, including the related income tax impacts are reflected in the impacted tables and footnotes throughout these consolidated financial statements in this Amendment No. 1. The restatement adjustments and their impacts on the previously issued condensed consolidated financial statements included in the original Form 10-Q are described below. Condensed Consolidated Financial Statements - Restatement Reconciliation Tables In light of the foregoing, in accordance with ASC 250, Accounting Changes and Error Corrections, we are restating the previously issued condensed consolidated financial statements for the three month periods ended March 31, 2023 and 2022, to reflect the effects of the restatement adjustments, and to make certain corresponding disclosures. In the following tables, we have presented a reconciliation of our condensed consolidated balance sheets, statements of operations, and cash flows as previously reported for these prior periods to the restated and revised amounts. Financial statement line items and subtotals that were not impacted by the restatement adjustments have been omitted for enhanced clarity. Summary of Restatement - Consolidated Balance Sheets As of March 31, 2023 (In thousands) As Previously Reported Restatement Adjustments As Restated Loans payable, net, current $ 790 $ 194 $ 984 Total current liabilities 18,084 194 18,278 Loans payable, net, noncurrent 8,260 23,153 31,413 Total liabilities 34,772 23,347 58,119 Accumulated deficit (401,405) (23,347) (424,752) Total stockholders' deficit (7,313) (23,347) (30,660) Total liabilities and stockholders’ deficit 27,459 — 27,459 Summary of Restatement - Consolidated Statements of Operations Three Months Ended March 31, 2023 2022 (In thousands, except share and per share data) As Previously Reported Restatement Adjustments As Restated As Previously Reported Restatement Adjustments As Restated Loss from operations $ (24,690) $ — $ (24,690) $ (10,951) $ — $ (10,951) Other income (expense), net: Interest expense (454) 242 (212) (525) 462 (63) Other expense, net (102) (40) (142) (181) (358) (539) Total other income (expense), net 82 202 284 (706) 104 (602) Net loss (24,608) 202 (24,406) (11,657) 104 (11,553) Net loss per share, basic and diluted (0.20) — (0.20) (0.09) — (0.09) Weighted-average shares used in computing net loss per share, basic and diluted 123,144,097 — 123,144,097 125,385,841 — 125,385,841 Net comprehensive loss (24,627) 202 (24,425) (11,727) 104 (11,623) Summary of Restatement - Consolidated Statements of Cash Flows Three Months Ended March 31, 2023 2022 (In thousands) As Previously Reported Restatement Adjustments As Restated As Previously Reported Restatement Adjustments As Restated Net loss $ (24,608) $ 202 $ (24,406) $ (11,657) $ 104 $ (11,553) Adjustments to reconcile net loss to cash used in operating activities: Non-cash interest expense 437 (242) 195 525 (462) 63 Other non-cash activities 44 40 84 527 358 885 Net cash used in operating activities (13,574) — (13,574) (9,509) — (9,509) Net cash used in investing activities (76) — (76) (144) — (144) Net cash provided by financing activities 15,592 — 15,592 17,872 — 17,872 Effect of exchange rate changes on cash and cash equivalents (19) — (19) (41) — (41)

Merger

Merger	3 Months Ended
	Mar. 31, 2023
Reverse Recapitalization [Abstract]
Merger	Merger On August 5, 2022, the Company completed the Merger. Upon the closing of the Merger, 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 Merger. 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 CDPM Sponsor Group LLC (the “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 Merger 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” refers 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 Merger 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 Merger. On August 2, 2022, the DPCM shareholders voted to approve the Merger. Management determined that once this vote had occurred, it was probable that D-Wave Quantum Inc. would be required to pay Lincoln Park the Commitment Fee associated with the Purchase Agreement. As such, on August 2, 2022, D-Wave Quantum Inc. incurred a $2.6 million liability payable to Lincoln Park, which was the amount of cash contractually required to settle the Commitment Fee. Other than the Commitment Fee liability, D-Wave Quantum, Inc. had no other assets, liabilities, or operations prior to the Closing Date of August 5, 2022. The Merger 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. Accordingly, for accounting purposes, the Merger 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.

Revenue from contracts with cus

Revenue from contracts with customers	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Type of products or services QCaaS $ 1,168 $ 1,384 Professional services 406 309 Other revenue 9 20 Total revenue, net $ 1,583 $ 1,713 Timing of revenue recognition Revenue recognized over the time $ 1,542 $ 1,662 Revenue recognized at a point in time 41 51 Total revenue, net $ 1,583 $ 1,713 Other revenue includes printed circuit board sales. The following table presents a summary of revenue by geography for the three months ended March 31, 2023 and 2022 (in thousands): Three months ended March 31, 2023 2022 United States $ 247 $ 777 Japan 308 434 Germany 288 263 United Kingdom 231 — Other 509 239 Total revenue $ 1,583 $ 1,713 "Other" includes rest of Europe, the Middle East, Africa, Asia, Canada and Australia where the revenue from a single country is not greater than 10% of total consolidated revenue. The Company has not had any sales in China, Russia or Ukraine. Significant customers The Company had significant customers during the three months ended March 31, 2023 and 2022. 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 months ended March 31, 2023 and 2022. Three months ended March 31, 2023 2022 Customer A 15 % 14 % Customer B 13 % 13 % As of March 31, 2023 and 2022, there were three and one significant customers that comprised ten percent or more of outstanding accounts receivable balances, respectively. All revenues derived from major customers above are located in Germany and Europe during the three month period ended March 31, 2023 and the United States and Germany during the three month period ended March 31, 2022. Contract balances The following table provides information about account receivable, contract assets and liabilities as of March 31, 2023 and December 31, 2022 (in thousands): March 31, December 31, 2023 2022 Contract assets: Trade account receivable $ 542 $ 757 Unbilled receivables, included in 'Prepaid expenses and other current assets' 59 58 Total contract assets 601 815 Contract liabilities: Deferred revenue, current 1,827 1,781 Deferred revenue, noncurrent 9 9 Customer deposit, included in 'Accrued expenses and other current liabilities' 45 45 Total contract liabilities $ 1,881 $ 1,835 Changes in deferred revenue from contracts with customers were as follows (in thousands): March 31, December 31, 2023 2022 Balance at beginning of period $ 1,790 $ 2,719 Deferral of revenue 1,166 5,325 Recognition of deferred revenue (1,120) (6,254) Balance at end of period $ 1,836 $ 1,790 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 March 31, 2023, the aggregate amount of remaining performance obligations that were unsatisfied or partially unsatisfied related to customer contracts was $1.8 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, 2022, the aggregate amount of remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied was $1.8 million which included deferred revenue on the Company’s condensed consolidated balance sheets, of which approximately 99% was expected to be recognized to revenue in the next 12 months.

Balance sheet details

Balance sheet details	3 Months Ended
	Mar. 31, 2023
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): March 31, December 31, 2023 2022 Accrued expenses: Accrued transaction costs $ — $ 2,459 Accrued professional services 2,243 1,858 Accrued compensation and related benefits 2,392 1,641 Other accruals 211 233 Other current liabilities: Other payroll expenses $ 605 $ 451 Customer deposit 45 45 Current portion of operating lease liabilities 1,484 1,533 Promissory note, related party (Refer to Note 10) 420 420 Transaction costs 2,459 — Total accrued expenses and other current liabilities $ 9,859 $ 8,640 Prepaid expenses and other current assets consisted of the following (in thousands): March 31, December 31, 2023 2022 Prepaid expenses: Prepaid services $ 348 $ 391 Prepaid software 403 559 Prepaid rent 160 96 Prepaid commissions 223 268 Prepaid insurance 871 697 Other 128 89 Other current assets: Directors and Officers insurance $ 580 $ 1,449 Unbilled receivables 59 58 Security deposits 42 36 Receivable research incentives 328 264 Total prepaid expenses and other current assets $ 3,142 $ 3,907

Property and equipment, net

Property and equipment, net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2023 2022 Quantum computer systems $ 13,712 $ 13,714 Lab equipment 6,686 6,666 Computer equipment 3,583 3,545 Leasehold improvements 1,075 1,075 Furniture and fixtures 319 319 Construction-in-progress 86 86 Total property and equipment 25,461 25,405 Less: Accumulated depreciation (23,420) (23,111) Property and equipment, net $ 2,041 $ 2,294 Depreciation expense for the three month period ended March 31, 2023 and 2022 was $0.3 million and $0.3 million, respectively. The Company has not acquired any property and equipment under capital leases. As of March 31, 2023 and December 31, 2022, substantially all of the Company’s long-lived assets, consisting of property and plant, net, and operating lease right-of-use assets, amounting to $11.0 million and $11.4 million, respectively, are located in North America, principally in Canada.

Loans payable

Loans payable	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Loans payable	Loans payable (As Restated) As of March 31, 2023 and December 31, 2022 loans payable consisted of the refundable government loans. The following table shows the component of loans payable (in thousands): March 31, December 31, Effective Interest Rate 2023 2022 (As Restated) (As Restated) Loans payable, net, current: TPC Loan, due 2023 Interest free $ 399 $ 399 Financing of directors and officers insurance, due 2023 4.24% 585 1,449 Other loans payable, current — 15 Total loans payable, net, current $ 984 $ 1,863 Loans payable, net, non-current: SIF Loan 1 $ 30,676 $ 30,434 TPC Loan, due 2025 Interest free 737 734 Total loans payable, net, non-current $ 31,413 $ 31,168 1 Refer below for additional information on the repayment period and effective interest rate. SIF Loan On November 20, 2020 , the Company entered into an agreement with SIF, wherein SIF committed to providing a conditionally repayable loan to the Company in the amount of up to C$40.0 million . As of March 31, 2023, the Company has received C$36.0 million in funding from SIF. Funds from the SIF Loan are to be used for projects involving the adaptation 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. Principal and interest amounts to be repaid under the SIF Loan are determined using a revenue-based formula, and are capped at 150% of the principal amount (the "Repayment Cap"). Repayments are due in up to 15 annual installments, commencing on April 30 of the second fiscal year following the fiscal year in which the Company first reports annual revenue of at least $70.0 million (the "Benchmark Year"). If the Company fails to reach $70.0 million in annual revenue after 14 years from origination, or if the total of the 15 revenue-based annual installments is less than the principal amount, any remaining repayment obligation will be forgiven. Repayments of the SIF Loan can also be triggered upon default of the agreement, termination of the agreement, or upon a change of control that has not been approved by the Canadian government. The Canadian government conditionally approved the transaction with DPCM on May 9, 2022 , with all conditions met on the closing date of the Merger. As of March 31, 2023, the Company is not aware of events that would trigger default or termination of the agreement.

Warrant liabilities

Warrant liabilities	3 Months Ended
	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
Warrant liabilities	Warrant liabilities In conjunction with the Merger, the Company assumed 10,000,000 DPCM public warrants and 8,000,000 DPCM private warrants. During the three months ended March 31, 2023, no DPCM public or private warrants were exercised. As of March 31, 2023, the Company has 17,916,609 Warrants outstanding. As part of the Merger, as described in Note 4 - Merger, each DPCM Public Warrant and Private Warrant that was issued and outstanding immediately prior to the Merger 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 w hole 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 Amendment. 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 12 - Commitments and Contingencies

Related party

Related party	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related party	Related party Promissory notes In 2022, DPCM and one of its affiliates entered into two unsecured promissory notes of up to $1.0 million each with the Sponsor (the "DPCM Notes"). The purpose of the DPCM Notes was to provide DPCM with additional working capital. All amounts drawn on the DPCM Notes were provided directly to DPCM. The DPCM Notes are not convertible and bear no interest. The principal balance of the DPCM Notes 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 March 31, 2023, a total of $0.4 million has been drawn on the DPCM Notes. In connection with the Merger, the DPCM Notes were assumed by the Company and were amended and restated effective December 31, 2022. The amended and restated notes have identical terms as the DPCM Notes except that the Company must pay the principal balance in equal installments on December 31, 2022, March 31, 2023, and June 30, 2023. In February 2023, these DPCM Notes were further amended and restated such that the Company must pay the principal balance in equal installments, the first of which was paid on April 30, 2023, and the remaining to be paid on June 30, 2023, August 31, 2023 and October 31, 2023. The execution of the amended and restated DPCM Notes are related party transactions as these notes are payable to affiliates of the Company. Short swing profit settlement For the three months ended March 31, 2023, the Company recorded approximately $0.2 million related to the short swing profit settlement remitted by a shareholder of the Company under Section 16(b) of the Securities Exchange Act of 1934, as amended. The Company recognized the proceeds as an increase to additional paid-in-capital in the condensed consolidated balance sheets as of March 31, 2023, and in the condensed consolidated statements of stockholder's (deficit) equity, as well as in cash provided by financial activities in the condensed consolidated statement of cash flows, for the three months ended March 31, 2023.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation For the three months ended March 31, 2023 and 2022, stock-based compensation is associated with stock options, restricted stock units ("RSUs"), and the Company's Employee Stock Purchase Plan ("ESPP"). 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, 2022 15,387,546 $ 1.76 7.12 $ 8,763 Granted — — Exercised (672,583) 0.81 40 Forfeited (45,731) 1.14 Expired (26,821) 0.81 Balance as of March 31, 2023 14,642,411 $ 1.72 7.45 Options exercisable as of March 31, 2023 11,919,869 $ 1.02 6.67 Options unvested as of March 31, 2023 3,544,841 $ 3.84 8.75 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 Common Shares for those stock options that had exercise prices lower than the fair value of the Common Shares. As of March 31, 2023, total unrecognized compensation cost related to unvested stock option grants was approximately $6.4 million. This amount is expected to be recognized over a weighted average period of approximately 1.18 years. The total fair values of the stock options vested during the three months ended March 31, 2023 and 2022 was $1.2 million and $0.5 million respectively. Restricted stock unit awards On January 5, 2023 and March 27, 2023, the Company granted 143,000 and 3,349,520 RSUs to certain of its employees, respectively, under the 2022 Plan. The RSUs granted are subject to a service condition, and the RSUs will vest 25% on the first anniversary of the grant date, and then 6.25% each quarter subsequent to the first anniversary for twelve quarters. There were no RSUs granted during the three months ended March 31, 2022. The following table summarizes the RSU activity and related information under the 2022 Plan : Number of Outstanding Weighted average Grant Date Fair Value ($) Unvested as of December 31, 2022 8,143,304 $ 5.69 Granted 3,492,520 0.54 Forfeited (130,619) — Vested — — Unvested as of March 31, 2023 11,505,205 $ 4.11 Expected to vest as of March 31, 2023 10,644,546 $ 4.15 For the three months ended March 31, 2023, the weighted-average grant-date fair value of RSUs granted was $0.54. No RSUs vested during the three months ended March 31, 2023. As of March 31, 2023, the unrecognized stock-based compensation cost related to the RSUs was $36.8 million, which is expected to be recognized over a weighted-average period of 2.85 years. Employment Stock Purchase Plan In August 2022, the Company established the 2022 ESPP. The maximum number of shares of common stock that may be issued under the ESPP was initially 8,036,455. The number of shares reserved and available for issuance under the ESPP automatically increases each January 1, beginning on January 1, 2023 and each January 1 thereafter ending on January 1, 2032, by the lesser of (i) 1,607,291 shares of common stock, or (ii) 1.0% of the aggregate number of (i) shares of common stock outstanding and (ii) securities convertible into or exercisable for shares of common stock (whether vested or unvested) outstanding on December 31 of the preceding calendar year. stock. As of March 31, 2023, the number of shares of common stock that may be issued under the ESPP is 8,036,455. As of March 31, 2023, no shares of common stock have been issued under the ESPP. During the three months ended March 31, 2023, the Company recorded stock-based compensation expense related to the ESPP of $0.1 million. Of the total stock-based compensation expense recognized for the three months ended March 31, 2023, $5 thousand was classified as cost of revenue, $21 thousand was classified as general and administrative, $4 thousand was classified as sales and marketing, and $0.1 million was classified as research and development within the consolidated statements of operations and comprehensive loss. 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 March 31, 2023 2022 Cost of revenue $ 377 $ 32 Research and development 2,760 60 General and administrative 3,294 629 Sales and marketing 324 62 Total stock-based compensation $ 6,755 $ 783

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2023
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 cancel a previously issued warrant with a customer and replace it with 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 previously issued warrants had 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 March 31, 2023, 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 three months ended March 31, 2023, no Warrant Preferred Shares were vested or probable of vesting. Leases The Company primarily enters into leases for office space that are classified as operating leases. During the three months ended March 31, 2023, and 2022, total lease cost, composed primarily of the costs related to operating leases, was $0.4 million and $0.4 million, respectively. 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 March 31, 2023 and 2022, the Company was not subject to any material litigation or pending litigation claims.

Net loss per share

Net loss per share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net loss per share	Net loss per share As a result of the Merger (see Note 4), for the three months ended March 31, 2022, 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 months ended March 31, 2023 and 2022 (in thousands, except share and per share data): For the three months ended March 31, 2023 2022 (As Restated) (As Restated) Numerator: Net loss attributable to common stockholders - basic and diluted $ (24,406) $ (11,553) Denominator: Weighted-average common stock outstanding 123,144,097 125,385,841 Net loss per share attributable to common stockholders - basic and diluted $ (0.20) $ (0.09) As of March 31, 2023 and 2022, 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: For the three months ended March 31, 2023 2022 Public Warrants as converted to Common Shares (Note 9) 14,420,065 — Private Warrants as converted to Common Shares (Note 9) 11,633,061 — D-Wave Systems Warrant Shares as converted to Common Shares (Note 12) 2,889,282 2,889,282 Options to purchase common stock as converted to Common Shares 13,026,724 13,784,912 Warrants to purchase common stock — 617,972 Total 41,969,132 17,292,166

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent events	Subsequent events The Company has evaluated all events occurring through May 19, 2023 , the date on which the condensed consolidated financial statements were issued, and during which time, nothing has occurred outside the normal course of business operations that would require disclosure except the following: Term Loan On April 13, 2023, the Company entered into the Term Loan and Security Agreement, by and between the Company and PSPIB (the "Term Loan"). Under the Term Loan, term loans in aggregate principal amount of $50.0 million are to be made available to the Company in three tranches, subject to certain terms and conditions (refer to Note 2 - Basis of presentation ). The first tranche, in an aggregate principal amount of $15.0 million was advanced on April 14, 2023 w

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial reporting and with the instructions to Form 10-Q/A and Article 10 of Regulation S-X. Accordingly, the condensed consolidated balance sheet as of December 31, 2022, has been derived from the audited consolidated financial statements at that date, but certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company's annual audited consolidated financial statements. Certain information and footnote disclosure normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the United States Securities and Exchange Commission ("SEC"). In the opinion of the Company, the unaudited financial information for the interim periods presented reflects all adjustments, which are normal and recurring, necessary for a fair presentation of the consolidated statement of operations and comprehensive loss, balance sheet, and cash flows. Interim results should not be regarded as indicative of results that may be expected for any other period or the entire year. 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 unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K/A as of and for the year ended December 31, 2022 filed with the SEC on March 15, 2024.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements upon consolidation.
Use of estimates	Use of estimates The preparation of the condensed 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.
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 March 31, 2023 and December 31, 2022, the carrying values of the Company's marketable investments were $1.2 million, respectively, and were reported in other noncurrent assets in the consolidated balance sheets. 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. 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 March 31, 2023, the liabilities for the Warrants were calculated by multiplying the quoted market price per DPCM Public Warrant of $0.07 by the 17,916,609 Warrants outstanding (see Note 9). 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.
Government assistance	Government assistance The Company receives various forms of government assistance including (i) government grants, (ii) investment credits and (iii) conditionally repayable loans with below-market interest rates (see Sales of future revenues - debt (As Restated) above). During the three months ended March 31, 2023 and 2022, the Company recorded a Scientific Research and Experimental Development (“SR&ED”) investment tax credit of nil and $0.4 million, respectively, as an offset to its research and development expenses in its condensed consolidated statements of operations and comprehensive loss. Upon entering into the Transaction Agreement on February 7, 2022, the Company is no longer a Canadian Controlled Private Corporation. As a result, beginning February 7, 2022, Scientific Research and Development investment tax credits can be applied to reduce income taxes payable to the Canadian government. Any investment tax credits that are not realized will be reflected as investment tax credit carryforwards.
Recent accounting pronouncements issued and adopted, and not yet adopted	Recent accounting pronouncements issued and adopted No recently issued accounting pronouncements that the Company has adopted have had a material effect on the Company's results of operations, cash flows or financial condition. Recent accounting pronouncements not yet adopted No other recently issued accounting pronouncements or effective during 2023 had, or are expected to have, a material impact on the Company’s results of operations, cash flows or financial condition.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): Description Level March 31, 2023 Liabilities: Warrant Liabilities – Public Warrants 1 $ 694 Warrant Liabilities – Private Placement Warrants 2 $ 560

Restatement of Previously Iss_2

Restatement of Previously Issued Consolidated Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Restatement Reconciliation Tables	In the following tables, we have presented a reconciliation of our condensed consolidated balance sheets, statements of operations, and cash flows as previously reported for these prior periods to the restated and revised amounts. Financial statement line items and subtotals that were not impacted by the restatement adjustments have been omitted for enhanced clarity. Summary of Restatement - Consolidated Balance Sheets As of March 31, 2023 (In thousands) As Previously Reported Restatement Adjustments As Restated Loans payable, net, current $ 790 $ 194 $ 984 Total current liabilities 18,084 194 18,278 Loans payable, net, noncurrent 8,260 23,153 31,413 Total liabilities 34,772 23,347 58,119 Accumulated deficit (401,405) (23,347) (424,752) Total stockholders' deficit (7,313) (23,347) (30,660) Total liabilities and stockholders’ deficit 27,459 — 27,459 Summary of Restatement - Consolidated Statements of Operations Three Months Ended March 31, 2023 2022 (In thousands, except share and per share data) As Previously Reported Restatement Adjustments As Restated As Previously Reported Restatement Adjustments As Restated Loss from operations $ (24,690) $ — $ (24,690) $ (10,951) $ — $ (10,951) Other income (expense), net: Interest expense (454) 242 (212) (525) 462 (63) Other expense, net (102) (40) (142) (181) (358) (539) Total other income (expense), net 82 202 284 (706) 104 (602) Net loss (24,608) 202 (24,406) (11,657) 104 (11,553) Net loss per share, basic and diluted (0.20) — (0.20) (0.09) — (0.09) Weighted-average shares used in computing net loss per share, basic and diluted 123,144,097 — 123,144,097 125,385,841 — 125,385,841 Net comprehensive loss (24,627) 202 (24,425) (11,727) 104 (11,623) Summary of Restatement - Consolidated Statements of Cash Flows Three Months Ended March 31, 2023 2022 (In thousands) As Previously Reported Restatement Adjustments As Restated As Previously Reported Restatement Adjustments As Restated Net loss $ (24,608) $ 202 $ (24,406) $ (11,657) $ 104 $ (11,553) Adjustments to reconcile net loss to cash used in operating activities: Non-cash interest expense 437 (242) 195 525 (462) 63 Other non-cash activities 44 40 84 527 358 885 Net cash used in operating activities (13,574) — (13,574) (9,509) — (9,509) Net cash used in investing activities (76) — (76) (144) — (144) Net cash provided by financing activities 15,592 — 15,592 17,872 — 17,872 Effect of exchange rate changes on cash and cash equivalents (19) — (19) (41) — (41)

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Type of products or services QCaaS $ 1,168 $ 1,384 Professional services 406 309 Other revenue 9 20 Total revenue, net $ 1,583 $ 1,713 Timing of revenue recognition Revenue recognized over the time $ 1,542 $ 1,662 Revenue recognized at a point in time 41 51 Total revenue, net $ 1,583 $ 1,713 The following table presents a summary of revenue by geography for the three months ended March 31, 2023 and 2022 (in thousands): Three months ended March 31, 2023 2022 United States $ 247 $ 777 Japan 308 434 Germany 288 263 United Kingdom 231 — Other 509 239 Total revenue $ 1,583 $ 1,713
Significant customers	The tables below present the significant customers on a percentage of total revenue basis for the three months ended March 31, 2023 and 2022. Three months ended March 31, 2023 2022 Customer A 15 % 14 % Customer B 13 % 13 %
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 March 31, 2023 and December 31, 2022 (in thousands): March 31, December 31, 2023 2022 Contract assets: Trade account receivable $ 542 $ 757 Unbilled receivables, included in 'Prepaid expenses and other current assets' 59 58 Total contract assets 601 815 Contract liabilities: Deferred revenue, current 1,827 1,781 Deferred revenue, noncurrent 9 9 Customer deposit, included in 'Accrued expenses and other current liabilities' 45 45 Total contract liabilities $ 1,881 $ 1,835 Changes in deferred revenue from contracts with customers were as follows (in thousands): March 31, December 31, 2023 2022 Balance at beginning of period $ 1,790 $ 2,719 Deferral of revenue 1,166 5,325 Recognition of deferred revenue (1,120) (6,254) Balance at end of period $ 1,836 $ 1,790

Balance sheet details (Tables)

Balance sheet details (Tables)	3 Months Ended
	Mar. 31, 2023
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): March 31, December 31, 2023 2022 Accrued expenses: Accrued transaction costs $ — $ 2,459 Accrued professional services 2,243 1,858 Accrued compensation and related benefits 2,392 1,641 Other accruals 211 233 Other current liabilities: Other payroll expenses $ 605 $ 451 Customer deposit 45 45 Current portion of operating lease liabilities 1,484 1,533 Promissory note, related party (Refer to Note 10) 420 420 Transaction costs 2,459 — Total accrued expenses and other current liabilities $ 9,859 $ 8,640
Prepaid expenses and other current assets	Prepaid expenses and other current assets consisted of the following (in thousands): March 31, December 31, 2023 2022 Prepaid expenses: Prepaid services $ 348 $ 391 Prepaid software 403 559 Prepaid rent 160 96 Prepaid commissions 223 268 Prepaid insurance 871 697 Other 128 89 Other current assets: Directors and Officers insurance $ 580 $ 1,449 Unbilled receivables 59 58 Security deposits 42 36 Receivable research incentives 328 264 Total prepaid expenses and other current assets $ 3,142 $ 3,907

Property and equipment, net (Ta

Property and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2023 2022 Quantum computer systems $ 13,712 $ 13,714 Lab equipment 6,686 6,666 Computer equipment 3,583 3,545 Leasehold improvements 1,075 1,075 Furniture and fixtures 319 319 Construction-in-progress 86 86 Total property and equipment 25,461 25,405 Less: Accumulated depreciation (23,420) (23,111) Property and equipment, net $ 2,041 $ 2,294

Loans payable (Tables)

Loans payable (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Components of loans payable	The following table shows the component of loans payable (in thousands): March 31, December 31, Effective Interest Rate 2023 2022 (As Restated) (As Restated) Loans payable, net, current: TPC Loan, due 2023 Interest free $ 399 $ 399 Financing of directors and officers insurance, due 2023 4.24% 585 1,449 Other loans payable, current — 15 Total loans payable, net, current $ 984 $ 1,863 Loans payable, net, non-current: SIF Loan 1 $ 30,676 $ 30,434 TPC Loan, due 2025 Interest free 737 734 Total loans payable, net, non-current $ 31,413 $ 31,168 1 Refer below for additional information on the repayment period and effective interest rate.

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
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, 2022 15,387,546 $ 1.76 7.12 $ 8,763 Granted — — Exercised (672,583) 0.81 40 Forfeited (45,731) 1.14 Expired (26,821) 0.81 Balance as of March 31, 2023 14,642,411 $ 1.72 7.45 Options exercisable as of March 31, 2023 11,919,869 $ 1.02 6.67 Options unvested as of March 31, 2023 3,544,841 $ 3.84 8.75
RSU activity	The following table summarizes the RSU activity and related information under the 2022 Plan : Number of Outstanding Weighted average Grant Date Fair Value ($) Unvested as of December 31, 2022 8,143,304 $ 5.69 Granted 3,492,520 0.54 Forfeited (130,619) — Vested — — Unvested as of March 31, 2023 11,505,205 $ 4.11 Expected to vest as of March 31, 2023 10,644,546 $ 4.15
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 March 31, 2023 2022 Cost of revenue $ 377 $ 32 Research and development 2,760 60 General and administrative 3,294 629 Sales and marketing 324 62 Total stock-based compensation $ 6,755 $ 783

Net loss per share (Tables)

Net loss per share (Tables)	3 Months Ended
	Mar. 31, 2023
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 months ended March 31, 2023 and 2022 (in thousands, except share and per share data): For the three months ended March 31, 2023 2022 (As Restated) (As Restated) Numerator: Net loss attributable to common stockholders - basic and diluted $ (24,406) $ (11,553) Denominator: Weighted-average common stock outstanding 123,144,097 125,385,841 Net loss per share attributable to common stockholders - basic and diluted $ (0.20) $ (0.09)
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: For the three months ended March 31, 2023 2022 Public Warrants as converted to Common Shares (Note 9) 14,420,065 — Private Warrants as converted to Common Shares (Note 9) 11,633,061 — D-Wave Systems Warrant Shares as converted to Common Shares (Note 12) 2,889,282 2,889,282 Options to purchase common stock as converted to Common Shares 13,026,724 13,784,912 Warrants to purchase common stock — 617,972 Total 41,969,132 17,292,166

Description of business (Detail

Description of business (Details)	Mar. 31, 2023 facility
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating facilities	3

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 13, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Feb. 13, 2023	Jun. 16, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Research and development		$ 10,915	$ 6,802
Interest expense		(212)	(63)
Accumulated deficit		424,752		$ 400,346
Net loss		24,406	11,553
Net cash outflows from operations		13,574	9,509
Cash		8,988		$ 7,065
Working capital deficit		$ 3,400
Debt Instrument [Line Items]
ELOC, right to sell common stock					$ 35,000	$ 150,000
Common stock, par value (in usd per share)		$ 0.0001		$ 0.0001		$ 0.0001
ELOC, ownership restriction percentage						9.90%
ELOC, floor stock price (in usd per share)						$ 1
Proceeds from stock issuance		$ 15,700
Issuance of stock (in shares)		13,239,654
Marketable investments		$ 1,200		$ 1,200
Warrants, quoted price (in usd per share)		$ 0.07
Warrants outstanding (in shares)		17,916,609
SR&ED investment tax credit		$ 0	$ 400
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Research and development				300
Interest expense				$ 300
Term Loan | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Face amount	$ 50,000
Drawdown fee percentage	2%
Interest rate	10%
Interest rate, PIK	11%
Premium payment, percentage of amount prepaid from common stock issuance proceeds	10%
Term Loan | Line of Credit | Subsequent Event | Debt repayment period one
Debt Instrument [Line Items]
Prepayment premium percentage	3%
Term Loan | Line of Credit | Subsequent Event | Debt repayment period two
Debt Instrument [Line Items]
Prepayment premium percentage	2%
Term Loan | Line of Credit | Subsequent Event | Debt repayment period three
Debt Instrument [Line Items]
Prepayment premium percentage	1%
Term Loan | Line of Credit | Subsequent Event | Debt tranche one
Debt Instrument [Line Items]
Face amount	$ 15,000
Term Loan | Line of Credit | Subsequent Event | Debt tranche two
Debt Instrument [Line Items]
Face amount	15,000
Term Loan | Line of Credit | Subsequent Event | Debt tranche three
Debt Instrument [Line Items]
Face amount	20,000
Non-dilutive financing	$ 25,000

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Liabilities:
Warrants	$ 1,254	$ 1,892
Level 1 | Public Warrants
Liabilities:
Warrants	694
Level 2 | Private Warrants
Liabilities:
Warrants	$ 560

Restatement of Previously Iss_3

Restatement of Previously Issued Consolidated Financial Statements - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loans payable, net, current	$ 984	$ 1,863
Total current liabilities	18,278	16,040
Loans payable, net, noncurrent	31,413	31,168
Total liabilities	58,119	56,410
Accumulated deficit	(424,752)	(400,346)
Total stockholders' deficit	(30,660)	(29,463)	$ (29,189)	$ (18,356)	[1]
Total liabilities and stockholders’ deficit	27,459	26,947
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loans payable, net, current	790
Total current liabilities	18,084
Loans payable, net, noncurrent	8,260
Total liabilities	34,772
Accumulated deficit	(401,405)
Total stockholders' deficit	(7,313)	(5,914)		3,020
Total liabilities and stockholders’ deficit	27,459
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loans payable, net, current	194
Total current liabilities	194
Loans payable, net, noncurrent	23,153
Total liabilities	23,347
Accumulated deficit	(23,347)
Total stockholders' deficit	(23,347)	$ (23,549)		$ (21,376)
Total liabilities and stockholders’ deficit	$ 0
[1]Shares of legacy non-redeemable convertible preferred stock and legacy common stock have been retroactively restated to give effect to the Merger.

Restatement of Previously Iss_4

Restatement of Previously Issued Consolidated Financial Statements - Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from operations		$ (24,690)	$ (10,951)
Interest expense		(212)	(63)
Other income (expense), net		(142)	(539)
Total other income, net		284	(602)
Net loss		$ (24,406)	$ (11,553)
Net loss per share, basic (in usd per share)		$ (0.20)	$ (0.09)
Net loss per share, diluted (in usd per share)		$ (0.20)	$ (0.09)
Weighted-average shares used in computing net loss per share, basic (in shares)	[1]	123,144,097	125,385,841
Weighted-average shares used in computing net loss per share, diluted (in shares)	[1]	123,144,097	125,385,841
Net comprehensive loss		$ (24,425)	$ (11,623)
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from operations		(24,690)	(10,951)
Interest expense		(454)	(525)
Other income (expense), net		(102)	(181)
Total other income, net		82	(706)
Net loss		$ (24,608)	$ (11,657)
Net loss per share, basic (in usd per share)		$ (0.20)	$ (0.09)
Net loss per share, diluted (in usd per share)		$ (0.20)	$ (0.09)
Weighted-average shares used in computing net loss per share, basic (in shares)		123,144,097	125,385,841
Weighted-average shares used in computing net loss per share, diluted (in shares)		123,144,097	125,385,841
Net comprehensive loss		$ (24,627)	$ (11,727)
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from operations		0	0
Interest expense		242	462
Other income (expense), net		(40)	(358)
Total other income, net		202	104
Net loss		$ 202	$ 104
Net loss per share, basic (in usd per share)		$ 0	$ 0
Net loss per share, diluted (in usd per share)		$ 0	$ 0
Weighted-average shares used in computing net loss per share, basic (in shares)		0	0
Weighted-average shares used in computing net loss per share, diluted (in shares)		0	0
Net comprehensive loss		$ 202	$ 104
[1]Weighted-average shares for the three months ended March 31, 2022 have been retroactively restated to give effect to the Merger.

Restatement of Previously Iss_5

Restatement of Previously Issued Consolidated Financial Statements - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (24,406)	$ (11,553)
Non-cash interest expense	195	63
Other non-cash activities	84	885
Net cash used in operating activities	(13,574)	(9,509)
Net cash used in investing activities	(76)	(144)
Net cash provided by financing activities	15,592	17,872
Effect of exchange rate changes on cash and cash equivalents	(19)	(41)
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(24,608)	(11,657)
Non-cash interest expense	437	525
Other non-cash activities	44	527
Net cash used in operating activities	(13,574)	(9,509)
Net cash used in investing activities	(76)	(144)
Net cash provided by financing activities	15,592	17,872
Effect of exchange rate changes on cash and cash equivalents	(19)	(41)
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	202	104
Non-cash interest expense	(242)	(462)
Other non-cash activities	40	358
Net cash used in operating activities	0	0
Net cash used in investing activities	0	0
Net cash provided by financing activities	0	0
Effect of exchange rate changes on cash and cash equivalents	$ 0	$ 0

Merger (Details)

Merger (Details) $ / shares in Units, $ in Millions	Aug. 05, 2022 USD ($) $ / shares shares	Aug. 02, 2022 USD ($)
Schedule Of Reverse Recapitalization [Line Items]
Exchange ratio	1.4541326
Conversion ratio	1
Sale of stock, price (in usd per share) | $ / shares	$ 10
Proceeds from Issuance of Private Placement | $	$ 40
Commitment fee liability | $		$ 2.6
PIPE
Schedule Of Reverse Recapitalization [Line Items]
Issuance of common stock (in shares)	5,816,528
DCPM Class A common stock
Schedule Of Reverse Recapitalization [Line Items]
Stock exchanged in exchange of common stock (in shares)	902,213
DPCM Capital, Inc. Stockholders | DCPM Class A common stock
Schedule Of Reverse Recapitalization [Line Items]
Stock issued in exchange of common stock (in shares)	1,311,937
DPCM Capital, Inc. Stockholders | DCPM Class B common stock
Schedule Of Reverse Recapitalization [Line Items]
Stock issued in exchange of common stock (in shares)	3,015,575
Conversion ratio	1
D-Wave Systems Inc. Stockholders
Schedule Of Reverse Recapitalization [Line Items]
Aggregate consideration paid (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
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 1,583	$ 1,713
United States
Disaggregation of Revenue [Line Items]
Total revenue, net	247	777
Japan
Disaggregation of Revenue [Line Items]
Total revenue, net	308	434
Germany
Disaggregation of Revenue [Line Items]
Total revenue, net	288	263
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue, net	231	0
Other
Disaggregation of Revenue [Line Items]
Total revenue, net	509	239
Revenue recognized over the time
Disaggregation of Revenue [Line Items]
Total revenue, net	1,542	1,662
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue, net	41	51
QCaaS
Disaggregation of Revenue [Line Items]
Total revenue, net	1,168	1,384
Professional services
Disaggregation of Revenue [Line Items]
Total revenue, net	406	309
Other revenue
Disaggregation of Revenue [Line Items]
Total revenue, net	$ 9	$ 20

Revenue from contracts with c_4

Revenue from contracts with customers - Significant Customers (Details) - Customer concentration risk	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage (more than for accounts receivable)	15%	14%
Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage (more than for accounts receivable)	13%	13%
Accounts Receivable | Three customers
Concentration Risk [Line Items]
Concentration risk, percentage (more than for accounts receivable)	10%
Accounts Receivable | One customer
Concentration Risk [Line Items]
Concentration risk, percentage (more than for accounts receivable)		10%

Revenue from contracts with c_5

Revenue from contracts with customers - Receivables, Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Contract assets:
Trade account receivable	$ 542	$ 757
Unbilled receivables, included in 'Prepaid expenses and other current assets'	59	58
Total contract assets	601	815
Contract liabilities:
Deferred revenue, current	1,827	1,781
Deferred revenue, noncurrent	9	9
Customer deposit, included in 'Accrued expenses and other current liabilities'	45	45
Total contract liabilities	$ 1,881	$ 1,835

Revenue from contracts with c_6

Revenue from contracts with customers - Change in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Contract With Customer, Liability [Roll Forward]
Balance at beginning of period	$ 1,790	$ 2,719
Deferral of revenue	1,166	5,325
Recognition of deferred revenue	(1,120)	(6,254)
Balance at end of period	$ 1,836	$ 1,790

Revenue from contracts with c_7

Revenue from contracts with customers - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1.8	$ 1.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage		99%
Remaining performance obligation, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
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	Mar. 31, 2023	Dec. 31, 2022
Accrued expenses:
Accrued transaction costs	$ 2,459	$ 2,459
Accrued professional services	2,243	1,858
Accrued compensation and related benefits	2,392	1,641
Other accruals	211	233
Other current liabilities:
Other payroll expenses	605	451
Customer deposit	45	45
Current portion of operating lease liabilities	1,484	1,533
Promissory note, related party (Refer to Note 10)	420	420
Total accrued expenses and other current liabilities	$ 9,859	$ 8,640
Current portion of operating lease liabilities, location	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities

Balance sheet details - Prepaid

Balance sheet details - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Prepaid expenses:
Prepaid services	$ 348	$ 391
Prepaid software	403	559
Prepaid rent	160	96
Prepaid commissions	223	268
Prepaid insurance	871	697
Other	128	89
Other current assets:
Directors and Officers insurance	580	1,449
Unbilled receivables	59	58
Security deposits	42	36
Receivable research incentives	328	264
Total prepaid expenses and other current assets	$ 3,142	$ 3,907

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 25,461	$ 25,405
Less: Accumulated depreciation	(23,420)	(23,111)
Property and equipment, net	2,041	2,294
Quantum computer systems
Property, Plant and Equipment [Line Items]
Total property and equipment	13,712	13,714
Lab equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	6,686	6,666
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	3,583	3,545
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	1,075	1,075
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	319	319
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 86	$ 86

Property and equipment, net - L

Property and equipment, net - Long-lived Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.3	$ 0.3
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 11		$ 11.4

Loans Payable - Components (Det

Loans Payable - Components (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Loans payable, net, current	$ 984	$ 1,863
Total loans payable, net, non-current	31,413	31,168
TPC Government Loans | Other notes payable
Debt Instrument [Line Items]
Loans payable, net, current	399	399
Total loans payable, net, non-current	$ 737	734
Directors and Officers Insurance financing | Other notes payable
Debt Instrument [Line Items]
Interest rate	4.24%
Loans payable, net, current	$ 585	1,449
Other Loans | Other notes payable
Debt Instrument [Line Items]
Loans payable, net, current	0	15
SIF Loan | Other notes payable
Debt Instrument [Line Items]
Total loans payable, net, non-current	$ 30,676	$ 30,434

Loans payable - Narrative (Deta

Loans payable - Narrative (Details) - SIF Loan $ in Thousands, $ in Millions	Mar. 31, 2023 USD ($)	Mar. 31, 2022	Nov. 20, 2020 USD ($)	Nov. 20, 2020 CAD ($)
Debt Instrument [Line Items]
Face amount				$ 40
Cumulative proceeds	$ 36,000
Repayment rate			150%	150%
Repayment benchmark year, revenue			$ 70,000
Repayment benchmark year, period			14 years	14 years
Effective interest rate	2.50%	2.36%

Warrant liabilities (Details)

Warrant liabilities (Details)		3 Months Ended
	Aug. 05, 2022 day $ / shares shares	Mar. 31, 2023 shares
Class of Warrant or Right [Line Items]
Warrants exercised (in shares) | shares		0
Warrants outstanding (in shares) | shares		17,916,609
Number of warrants into which each warrant was converted (in shares) | shares	1
Warrants, exercise price, prior to exchange ratio (in usd per share) | $ / shares	$ 11.50
Exchange ratio	1.4541326
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
Sale of stock, price (in usd per share) | $ / shares	$ 10
Reference value (in usd per share) | $ / shares	$ 18
Public Warrants
Class of Warrant or Right [Line Items]
Merger, warrants assumed (in shares) | shares	10,000,000
Private Warrants
Class of Warrant or Right [Line Items]
Merger, warrants assumed (in shares) | shares	8,000,000

Related party (Details)

Related party (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Short swing profit settlement	$ 244
Affiliated Entity | DCPM Note
Related Party Transaction [Line Items]
Unsecured promissory notes, maximum		$ 1,000
Cumulative amount drawn	400
Shareholder
Related Party Transaction [Line Items]
Short swing profit settlement	$ 200

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended
	Mar. 27, 2023	Jan. 05, 2023	Aug. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost, stock options				$ 6,400
Fair value of stock options vested				1,200	$ 500
Stock-based compensation				6,755	783
Cost of revenue
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				377	32
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				3,294	629
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				324	62
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				$ 2,760	$ 60
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation cost, period for recognition				1 year 2 months 4 days
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation cost, period for recognition				2 years 10 months 6 days
Awards granted (in shares)	3,349,520	143,000		3,492,520	0
Weighted-average grant-date fair value of awards granted (in usd per share)				$ 0.54
Awards vested (in shares)				0
Unrecognized stock-based compensation cost				$ 36,800
RSUs | Tranche one
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage				25%
RSUs | Tranche two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage				6.25%
Employee stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common shares reserved for future issuance (in shares)			8,036,455
Additional shares annual automatic increase (in shares)			1,607,291
Percentage of stock outstanding, maximum			1%
Shares that may be issued (in shares)				8,036,455
Stock-based compensation				$ 100
Employee stock | Cost of revenue
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				5
Employee stock | General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				21
Employee stock | Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				4
Employee stock | Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation				$ 100

Stock-based compensation - Stoc

Stock-based compensation - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of options outstanding
Balance (in shares)	15,387,546
Granted (in shares)	0
Exercised (in shares)	(672,583)
Forfeited (in shares)	(45,731)
Expired (in shares)	(26,821)
Balance (in shares)	14,642,411	15,387,546
Options exercisable (in shares)	11,919,869
Options unvested (in shares)	3,544,841
Weighted  average  exercise  price  ($)
Balance (in usd per share)	$ 1.76
Granted (in usd per share)	0
Exercised (in usd per share)	0.81
Forfeited (in usd per share)	1.14
Expired (in usd per share)	0.81
Balance (in usd per share)	1.72	$ 1.76
Options exercisable (in usd per share)	1.02
Options unvested (in usd per share)	$ 3.84
Weighted average remaining contractual term (years)
Balance	7 years 5 months 12 days	7 years 1 month 13 days
Options exercisable	6 years 8 months 1 day
Options unvested	8 years 9 months
Aggregate intrinsic value ($)
Balance		$ 8,763
Exercised	$ 40

Stock-based compensation - RSU

Stock-based compensation - RSU Activity and Related Information (Details) - RSUs - $ / shares			3 Months Ended
	Mar. 27, 2023	Jan. 05, 2023	Mar. 31, 2023	Mar. 31, 2022
Number of Outstanding
Unvested (in shares)			8,143,304
Granted (in shares)	3,349,520	143,000	3,492,520	0
Forfeited (in shares)			(130,619)
Vested (in shares)			0
Unvested (in shares)			11,505,205
Expected to vest (in shares)			10,644,546
Weighted average Grant Date Fair Value ($)
Unvested (in usd per share)			$ 5.69
Granted (in usd per share)			0.54
Forfeited (in usd per share)			0
Vested (in usd per share)			0
Unvested (in usd per share)			4.11
Expected to vest (in usd per share)			$ 4.15

Stock-based compensation - St_2

Stock-based compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 6,755	$ 783
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	377	32
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	2,760	60
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3,294	629
Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 324	$ 62

Commitments and contingencies (

Commitments and contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Nov. 30, 2020	Aug. 13, 2020
Other Commitments [Line Items]
Warrants	$ 1,254		$ 1,892
Lease cost	400	$ 400
Preferred stock warrants
Other Commitments [Line Items]
Warrants, number of shares issuable (in shares)				3,247,637
Warrants vested, percentage					40%
Warrants				$ 1,100
Warrants vested, fair value	$ 0

Net loss per share - Computatio

Net loss per share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss attributable to common stockholders - basic		$ (24,406)	$ (11,553)
Net loss attributable to common stockholders - diluted		$ (24,406)	$ (11,553)
Denominator:
Weighted-average common stock outstanding, basic (in shares)	[1]	123,144,097	125,385,841
Weighted-average common stock outstanding, diluted (in shares)	[1]	123,144,097	125,385,841
Net loss per share attributable to common stockholders - basic (in usd per share)		$ (0.20)	$ (0.09)
Net loss per share attributable to common stockholders - diluted (in usd per share)		$ (0.20)	$ (0.09)
[1]Weighted-average shares for the three months ended March 31, 2022 have been retroactively restated to give effect to the Merger.

Net loss per share - Potentiall

Net loss per share - Potentially Dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	41,969,132	17,292,166
Warrants | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	14,420,065	0
Warrants | Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	11,633,061	0
Warrants | Other Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	617,972
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
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	13,026,724	13,784,912

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event - Term Loan - Line of Credit $ in Millions	Apr. 13, 2023 USD ($)
Subsequent Event [Line Items]
Face amount	$ 50
Debt tranche one
Subsequent Event [Line Items]
Face amount	15
Debt tranche two
Subsequent Event [Line Items]
Face amount	15
Debt tranche three
Subsequent Event [Line Items]
Face amount	$ 20