D-Wave Quantum shares have fallen roughly 40% in 2026, closing at $16.41 on Tuesday after a 2.50% daily decline and a recent 30-day drop of about 17%. The company reported second-quarter 2026 revenue of $3.1 million, below analyst expectations of approximately $4 million and down less than 1% year over year. Management attributed the shortfall to customer contracts that did not materialize or close during the quarter, highlighting the volatility of D-Wave’s limited-customer revenue base. D-Wave also completed a binding agreement with the U.S. Department of Commerce for up to $100 million in nondilutive funding under the CHIPS and Science Act. The company plans to showcase its annealing and gate-model quantum platforms at Quantum World Congress 2026 from September 23-25 in College Park, Maryland. TipRanks data shows 14 Strong Buy recommendations and an average price target of $35.46, implying potential upside of approximately 116%. Separately, Kessler Topaz Meltzer & Check, LLP is investigating potential federal securities-law violations involving D-Wave after its results and share-price declines. The company also announced that its CFO would resign effective September 2, 2026.