D-Wave, a quantum computing company founded 20 years ago, was the first to develop a quantum computer utilizing principles like superposition and entanglement. Known for its focus on annealing for business optimization, D-Wave's flagship product, the Advantage Quantum computer, is used across industries for tasks such as resource optimization and workforce scheduling. The company's cloud service, Leap, offers reliable business applications, boasting over 99.9% uptime. With impressive gross margins, D-Wave's capital-efficient model allows them to generate millions in revenue annually. The future balance between cloud and on-premises solutions will depend on customer needs. D-Wave's emphasis on execution and product development positions them well for success in the quantum computing market.