D-Wave Quantum vs. QuantumScape: Which Moonshot Tech Stock Is a Better Buy in 2026?
2026-09-26 14:09
•Sara Appino •The Motley Fool
••• •••••••• Axe Cap view
Quantum Stocks: D-Wave vs QuantumScape for 2026
Between D-Wave’s early revenues and QuantumScape’s deep pockets, which quantum play suits a South African investor?
D-Wave’s reported revenue growth looks good on paper but hides massive cash burn and slim prospects for profitability anytime soon. Its 1,444% negative net margin and a 516x price-to-sales ratio scream caution for anyone outside a pure tech speculator. QuantumScape, in contrast, rents a clearer path with strategic partnerships like Volkswagen and Honda, along with a significant cash buffer that can weather years without revenue. The downside? It’s still pre-revenue and depends heavily on successful battery commercialisation—an area far from guaranteed, especially as global EV demand cycles unpredictably. For South African investors, the quantum theme is exciting but distant from local market drivers, so keep an eye on USD/ZAR fluctuations which can amplify gains or losses on these US-listed plays. For a locally listed proxy, stocks like Naspers or Prosus offer safer exposure to transformative tech trends without the extreme binary bets. this is just our opinion and not financial advice
Avoid D-Wave given its steep cash burn and questionable valuation. Watch QuantumScape for a long-term speculative buy if you can tolerate volatility and currency risk against the rand. Prefer local tech proxies like Prosus for balanced exposure.
- USD/ZAR
- Prosus
- QuantumScape (QS)
- QuantumScape may miss commercial milestones
- Rand volatility could hurt dollar-denominated returns
6/10
The article compares two early-stage quantum technology companies: D-Wave Quantum, which has commercial customers and $24.6M in revenue but is burning cash rapidly with a -1,444% net margin, and QuantumScape, a pre-revenue solid-state battery developer with a stronger cash cushion and clearer path to commercialization. The author recommends QuantumScape as the better speculative bet due to its financial runway, despite both being high-risk moonshot investments years from profitability.
Our take is based on reporting first published by The Motley Fool.