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Quantum computing companies D-Wave Quantum, Rigetti Computing, and IonQ are poised for significant growth in the expanding market, projected to grow at a CAGR of 34.8% from 2024 to 2032. In 2024, their revenues were reported at $9 million, $11 million, and $43 million, respectively, with expected growth rates of 176%, 161%, and 96% in 2025.
D-Wave specializes in quantum annealing tools for business efficiency, Rigetti develops quantum processors and allows algorithm creation on its cloud platform, while IonQ focuses on trapped ion technology for higher fidelity. Despite their innovative approaches, all three companies remain unprofitable and trade at high valuations, with price-to-sales ratios of 68, 93, and 36 for 2027 projections.
Key customers include the U.S. Air Force Research Lab, Deloitte, and General Dynamics, highlighting their niche applications in research and commercial sectors. Their potential for mainstream adoption hinges on advancements in technology that could reduce costs and improve efficiency.
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