D-Wave Quantum Inc.QBTS
NYSE•Technology•Computer Hardware
Understand cash generation quality and how management allocates capital.
Free cash flow was $-46.04M in the latest quarter (133.5% decrease YoY). FCF margin is -370.0%. Shares outstanding increased by 28.3% year-over-year, indicating dilution (potentially from stock compensation or capital raises). Free cash flow is the lifeblood of a business — it funds dividends, buybacks, debt reduction, and reinvestment without relying on external capital.
Free cash flow, earnings quality, and capital allocation