What caused QBTS's earnings to rebound in late 2024?

D-Wave Quantum's (QBTS) earnings rebound in late 2024 can be attributed to several key factors: 1. **Significant Growth in Bookings**: D-Wave Quantum experienced a substantial increase in bookings, with an impressive 502% year-over-year growth in Q4 bookings, reaching $18.3 million. This significant surge in bookings indicates a strong demand for the company's quantum computing solutions and services. 2. **First Advantage System Sale**: The sale of the first Advantage system to the Julich Supercomputing Centre marked a significant business milestone. This sale not only contributed to the record bookings but also highlighted the growing acceptance and demand for D-Wave's quantum solutions. 3. **Strong Cash Position**: D-Wave Quantum's robust cash position, with a cash balance exceeding $300 million as of March 13, 2025, provides a solid foundation for the company's financial stability and future growth. This financial strength allows the company to invest in research and development, expand its enterprise adoption, and navigate potential challenges in the market. 4. **Improved Gross Margins**: The company reported an improvement in gross margin to 63.0% for fiscal 2024, up from 52.8% the previous year. This indicates enhanced financial efficiency and the potential for increased profitability. These factors, among others, have contributed to D-Wave Quantum's earnings rebound in late 2024, signaling a promising outlook for the company's financial performance and market position.