SEC Filing Analysis: D-Wave Quantum Inc. (QBTS)

Executive Summary

• Trading Significance: Low
• Key Takeaway: An affiliate of D-Wave Quantum has filed a notice of intent to sell a small tranche of stock worth approximately $276k. While this specific transaction is immaterial, it is part of a larger, consistent selling pattern by the same individual over the past three months totaling over $12.4 million.
• Market Impact: The market impact of this individual proposed sale is expected to be negligible due to its small size.

Company Information

Field	Value
Company	D-Wave Quantum Inc.
Ticker Symbol	QBTS
CIK	0001907982
Industry	Computer Processing & Data Preparation

Insider Information

Field	Value
Name	John M. Markovich
CIK	0001453942
Title/Position	Not specified
Relationship	Affiliate

Transaction Details

Field	Value
Form Type	144 (Notice of Proposed Sale)
Transaction Date	2025-12-15 (Approximate)
Transaction Code	S (Sale)
Security Type	Common Stock
Shares Involved	11,562
Price Per Share	~$23.89 (Implied)
Total Value	$276,266.87
Shares Owned After	Not specified
Ownership Type	Not specified

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$276,266.87
% of Market Cap	0.0033%
Shares Transacted	11,562
% of Shares Outstanding	0.0033%
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: With a market capitalization of $8.27 billion, this proposed sale of $276k is financially insignificant to the company's valuation.
• Transaction Significance: The transaction represents a negligible fraction of both the market cap and shares outstanding (346,718,581), categorizing it as low significance. The primary relevance of this filing is its place within a broader selling trend.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: A transaction of this size is unlikely to have any discernible effect on the stock price or trading dynamics. It is a routine filing for a small disposition.

Volume & Sentiment

• Expected Volume Impact: Negligible. The number of shares is very small compared to typical daily trading volume for a multi-billion dollar company.
• Sentiment Indicator: Neutral. While a pattern of insider selling can be a bearish signal, this single filing is too small to influence market sentiment.

Additional Context

Transaction Notes

• Pattern of Sales: This Form 144 filing follows a series of significant sales by the same affiliate over the preceding three months:
• Oct 14: 7,994 shares for ~$350k
• Nov 13: 98,060 shares for ~$2.27M
• Nov 20: 200,000 shares for ~$4.59M
• Dec 03: 100,000 shares for ~$2.51M
• Dec 04: 100,000 shares for ~$2.76M
• Total Recent Sales: The affiliate has sold 506,054 shares for a total of approximately $12.47 million in the three months prior to this notice.