D-Wave Quantum Shares Fall 8% After CFO Retirement; IonQ, Rigetti Decline

Aug 26, 2026

D-Wave Quantum's stock experienced an 8% decline to $17.79 in midday trading following the announcement of CFO John Markovich's retirement, effective September 2. This news also had a ripple effect on IonQ, which saw its shares drop 3% to $40.68, despite no specific issues reported by the company. The Defiance Quantum ETF saw a minor decrease of 0.4%, indicating that the selloff was primarily a reaction to D-Wave's news rather than a broader downturn in the quantum sector.

Year-to-date, D-Wave's stock is down 26%, making today's reaction particularly significant given the company's ongoing struggles. D-Wave's market capitalization stands at $6.57 billion, while IonQ's is at $16.48 billion. The leadership change comes at a critical time for D-Wave, which is still in the pre-profit stage and relies heavily on its financial leadership to guide its future capital raises and revenue generation.

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Greg Golkov, who has been with D-Wave since May 2023 as senior vice president of finance, will step in as acting CFO. Golkov brings over 25 years of experience in finance and accounting, having previously held positions at Butterfly Network and Kaseya. His familiarity with D-Wave's operations is expected to facilitate a smooth transition.

D-Wave's announcement clarified that Markovich's resignation was not due to any disagreements regarding the company's business or financial practices. CEO Alan Baratz acknowledged Markovich's significant contributions, particularly in taking the company public in 2022 and securing over $900 million in capital.

The importance of finance leadership is underscored by D-Wave's recent Q2 2026 results, which showed revenues of $3.08 million, falling short of the $4.03 million estimate. In contrast, IonQ reported a stronger performance with Q2 revenues of $80.05 million, exceeding expectations and raising its full-year outlook.

The market's reaction to D-Wave's leadership change reflects broader concerns about the stability and future profitability of companies in the quantum computing space. Investors may want to approach D-Wave with caution until Golkov's leadership can demonstrate a clear path forward. The next significant milestone for the company will be its Q3 2026 earnings report, where management is expected to address capital planning and revenue conversion strategies under the new CFO.