Business Context and Reporting Period
D-Wave Quantum Inc. filed a Form 8-K reporting a material lease renewal agreement entered into on October 14, 2022. The filing was signed on December 21, 2022. D-Wave is incorporated in Delaware and its common stock and warrants trade on the New York Stock Exchange under QBTS and QBTS.WT, respectively.
Material Agreement and Key Terms
- Indirect, wholly owned subsidiary Omni Circuit Boards Ltd. renewed its lease with 0937847 B.C. Ltd.
- The lease covers approximately 7,000 square feet in Richmond, British Columbia.
- The lease termination date was extended from December 2022 to December 2024.
- Basic rent increased to CAD $139,308 per year.
- The executed Lease Renewal Agreement was filed as Exhibit 10.1.
Financial Metrics and Liquidity
This filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating financial metrics. It also does not quantify the aggregate future lease commitment beyond the stated annual basic rent.
Changes, Outlook, and Risks
The principal reported change is the two-year extension of the Richmond facility lease and the associated increase in basic rent. The filing provides no earnings guidance, business outlook, management discussion, contingencies, or unusual accounting items. The agreement creates an ongoing occupancy expense through December 2024; additional lease terms and obligations should be reviewed in Exhibit 10.1.
Investor Verification Checklist
- Review Exhibit 10.1 for renewal conditions, escalation provisions, operating costs, termination rights, and other payment obligations.
- Confirm how the lease is reflected in subsequent financial statements and disclosures.
- Verify the distinction between the October 14, 2022 report date and the December 21, 2022 signature date.
- Use the company’s periodic reports for financial performance, liquidity, debt, and broader business risks, which are not addressed in this 8-K.