D-Wave Quantum will transfer its listing from the New York Stock Exchange to Nasdaq on Monday, July 27, following the close of trading on Friday, July 24. The company notified the NYSE on July 14 of its voluntary withdrawal decision. The transfer is administrative: shareholders retain the same QBTS ticker and common stock, with no trading disruption expected. D-Wave CEO Alan Baratz cited Nasdaq's association with technology innovation as the rationale for the move. The listing change occurs as D-Wave's first-quarter bookings reached a record $33.4 million while its stock price closed at $16.72 on July 20, approximately 36% below its December 31, 2025 close of $26.15.
D-Wave Notifies NYSE of Voluntary Withdrawal on July 14
D-Wave notified the NYSE on July 14 that it had decided to withdraw its listing voluntarily and transfer it to Nasdaq. The NYSE listing and trading will end after the market closes on Friday, July 24. QBTS will begin trading on Nasdaq when the market opens on Monday, July 27, according to the company's Form 8-K. There is no additional trading gap beyond the usual weekend closure. Nasdaq confirmed D-Wave had met its listing requirements. The company's filing describes the transfer as a board-authorized, voluntary action, not a delisting caused by failure to meet exchange rules.
QBTS Ticker and Shareholder Rights Remain Unchanged
The listing venue changes from the NYSE to Nasdaq, but the ticker does not change. Investors do not need to sell their NYSE-listed shares and purchase a separate Nasdaq security. Existing brokerage positions should continue to appear under QBTS, although the exchange identifier displayed beside the stock may change. The transfer does not alter the company's operations, contracts, management, financial statements or shareholder rights. D-Wave is moving the marketplace where its shares trade, not restructuring the business. The transfer does not guarantee admission to the Nasdaq-100 or another major index, as index inclusion has separate eligibility and selection requirements.
D-Wave Cites Nasdaq Technology Positioning
Chief Executive Alan Baratz described Nasdaq as the marketplace for companies "shaping the future of technology" and said D-Wave was aligned with the innovation associated with the exchange. Nasdaq is home to many of the technology companies and institutional investors D-Wave wants as peers and shareholders. QBTS closed at $16.72 on July 20, approximately 36% below its $26.15 close on December 31, 2025. Shares traded around $17.10 late Thursday, leaving them down roughly 35% this year.
First-Quarter Bookings Reach $33.4 Million Record
D-Wave's first-quarter bookings reached a record $33.4 million, up 1,994% from $1.6 million a year earlier. The total included a $20 million agreement for Florida Atlantic University to purchase an Advantage2 annealing quantum computer and a $10 million, two-year Quantum Computing as a Service agreement with an unnamed Fortune 100 company. Remaining performance obligations rose 563% year over year to $42.4 million. D-Wave expects approximately 54% of that amount to be recognized within 12 months. First-quarter revenue fell 81% to $2.9 million because the prior-year period included a large system sale. Operating expenses increased 125% to $56.5 million, while the adjusted EBITDA loss widened to $32.8 million. A July 22 Motley Fool analysis calculated that insiders at IonQ, Rigetti and D-Wave had recorded more than $988 million of net stock sales over five years, including $331.3 million at D-Wave.
D-Wave Scheduled to Report Second-Quarter Results August 6
D-Wave will report its second-quarter results on August 6. The company stated it expects the transition to occur without any disruption to trading.
FAQ
What happens to QBTS shares when D-Wave moves to Nasdaq on July 27?
Shareholders retain the same QBTS ticker and common stock. Investors do not need to sell their NYSE-listed shares and purchase a separate Nasdaq security. Existing brokerage positions should continue to appear under QBTS, although the exchange identifier displayed beside the stock may change. The transfer does not alter shareholder rights, financial statements, or company operations.
Why did D-Wave transfer its listing from NYSE to Nasdaq?
D-Wave CEO Alan Baratz described Nasdaq as the marketplace for companies "shaping the future of technology" and said D-Wave was aligned with the innovation associated with the exchange. The company notified the NYSE on July 14 of its voluntary withdrawal decision. Nasdaq is home to many of the technology companies and institutional investors D-Wave wants as peers and shareholders.
How did D-Wave's first-quarter financial results compare to its stock performance?
D-Wave's first-quarter bookings reached a record $33.4 million, up 1,994% from $1.6 million a year earlier. However, first-quarter revenue fell 81% to $2.9 million because the prior-year period included a large system sale. QBTS closed at $16.72 on July 20, approximately 36% below its $26.15 close on December 31, 2025.
