D-Wave CFO Resigns Amid Quantum Computing Ramp-Up
QBTS sits 51% above its 52-week low of $12.75.
Summary
D-Wave Quantum announced the resignation of its Chief Financial Officer, John Markovich, who will retire effective September 2. Greg Golkov has been named acting financial chief. The departure comes just weeks after Q2 results showed flat revenue of $3.1M but a 1,120% surge in bookings to $35.5M, and follows significant insider selling by the CEO and an affiliate in June. The CFO's exit raises questions about financial stewardship during a period of heavy investment and integration costs from the Quantum Circuits acquisition. No successor or reason was disclosed, leaving uncertainty around the company's near-term financial leadership.
At the time of this announcement, QBTS was trading at $19.30 on NASDAQ in the Technology sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $12.75 to $46.75. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.