"QuantumScape's technology is poised to enter a pivotal stage where PowerCo's specialized expertise, resources and global factories can help facilitate the transition to industrial-scale production," said PowerCo CEO Frank Blome. Ahead of earnings, shareholders will be able to submit any questions they have for management until July 23. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this ...

In this video, Motley Fool contributor Jason Hall breaks down the big news that has QuantumScape (QS 27.35%) surging on July 11, and what it means for investors. A big partner just gave it a massive vote of confidence. *Stock prices used were from the morning of July 11, 2024. The video was published on July 11, 2024. ...

QuantumScape (QS 30.31%) and Volkswagen today announced a new deal that has the electric vehicle (EV) battery start-up's stock soaring. A potential EV battery game changer Today, the partnership between the two companies expanded. The new agreement gives Volkswagen's battery company, PowerCo, the right to license and mass produce QuantumScape's pioneering technology. The battery maker has been progressing on its path to commercialize a proprietary technology utilizing a solidstate ceramic separator to impro ...

Electric vehicle battery technology company QuantumScape (QS 2.08%) is trading for a small fraction of its all-time high of more than $130. So while it's completely accurate to say that QuantumScape is 96% below its high, I'm not saying that sort of share price was justified or will happen again anytime soon. After all, at one point QuantumScape had a market cap of about $50 billion with no revenue and years until it would possibly produce any. Where QuantumScape stands today Specifically, QuantumScape is d ...

QuantumScape just shipped a new version of its solid-state batteries. Renewable and sustainable energy are emerging as a popular investment choice for energy investors. Electric vehicles (EV) are part of this trend. Tesla is arguably the leader in EV adoption. However, QuantumScape (QS 4.88%) has also received considerable attention since going public in 2020. The primary differentiator between Tesla and QuantumScape lies in battery technology. This all sounds great on the surface, and begs the question why ...

Electric vehicle (EV) stocks have captivated investors ever since Tesla stock skyrocketed in 2020. However, more recently the sector has floundered as demand for EVs has weakened and prices for electric vehicles have come down. One of the stocks that investors have gotten excited about is QuantumScape (QS 1.41%), a development-stage maker of solid-state batteries, which is a technology that offers greater range and faster charging times for EV batteries. How has QuantumScape performed since it went public? ...

The solid-state battery maker still has a lot to prove. QuantumScape (QS 1.41%) was one of the market's hottest investments during the meme stock rally in late 2020 and 2021. The developer of solid-state batteries went public by merging with a special purpose acquisition company (SPAC) in November 2020, and its stock opened at $24.80 before soaring to a record high of $131.67 less than a month later. At its peak, QuantumScape's market cap reached $48 billion. However, the company hadn't commercialized any o ...

The battery start-up might reach its ambitions sooner than expected.In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down the latest investor update from QuantumScape (QS 0.19%), its huge progress on reaching commercial success with its solid-state battery, and whether investors should be buying shares at this stage.*Stock prices used were from the afternoon of May 10, 2024. The video was published on May 11, 2024. ...

The solid-state battery maker still faces formidable challenges.QuantumScape (QS 5.69%), a maker of solid-state batteries for electric vehicles (EVs), initially attracted a stampede of bulls when it went public by merging with a special purpose acquisition company (SPAC) in November 2020. The combined company's stock opened at $24.80 and skyrocketed to its record high of $131.67 less than a month later.But today, QuantumScape's stock trades at about $5. The bulls retreated as the company struggled to commer ...

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) The unaudited financial statements for Q1 2024 show a net loss of **$120.6 million**, with total assets at **$1.46 billion** and increased liabilities [Condensed Consolidated Balance Sheets (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20%28Unaudited%29) Total assets decreased to **$1.46 billion** by March 31, 2024, while liabilities increased to **$204.3 million** due to litigation accruals Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $192,321 | $142,524 | | Marketable securities | $817,314 | $928,284 | | Total current assets | $1,045,035 | $1,083,517 | | Total assets | $1,463,978 | $1,501,978 | | **Liabilities & Equity** | | | | Accrued liabilities | $72,331 | $10,180 | | Total current liabilities | $100,673 | $57,095 | | Total liabilities | $204,316 | $161,801 | | Total stockholders' equity | $1,257,872 | $1,338,407 | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29%20%28Unaudited%29) Net loss for Q1 2024 increased to **$120.6 million** due to higher operating expenses, primarily general and administrative costs Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Research and development | $83,847 | $76,941 | | General and administrative | $48,054 | $33,037 | | **Total operating expenses** | **$131,901** | **$109,978** | | Loss from operations | $(131,901) | $(109,978) | | Interest income | $12,065 | $6,277 | | **Net loss** | **$(120,628)** | **$(104,631)** | | Basic and Diluted net loss per share | $(0.24) | $(0.24) | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) Net cash used in operating activities was **$57.9 million**, offset by **$106.5 million** from investing activities, resulting in a net cash increase Cash Flow Summary (in thousands) | Activity | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(57,945) | $(62,319) | | Net cash provided by investing activities | $106,499 | $64,086 | | Net cash provided by financing activities | $1,243 | $4,050 | | **Net increase in cash** | **$49,797** | **$5,817** | | Cash at end of period | $210,369 | $258,733 | [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28Unaudited%29) Notes detail accounting policies, development status, Volkswagen JV put option trigger, and a **$24.5 million** litigation accrual - The company is a development-stage entity focused on solid-state batteries and has not yet generated revenue from its principal business activities[25](index=25&type=chunk) - In April 2024, the company agreed to settle a securities class action lawsuit. A net charge of **$24.5 million** was recorded in Q1 2024, representing the gross settlement of **$47.5 million** offset by a **$23.4 million** insurance receivable[96](index=96&type=chunk) - Due to certain development milestones not being met, Volkswagen's right to exercise its put rights in the QSV joint venture has been triggered. If exercised, QuantumScape would be obligated to purchase VW's interest for its book value of approximately **$1.8 million**[39](index=39&type=chunk) - Stock-based compensation expense for Q1 2024 was **$19.3 million**, a decrease from **$38.0 million** in Q1 2023. The decrease was primarily due to a **$16.0 million** reversal of previously recognized expense for forfeited options following the former CEO's departure[125](index=125&type=chunk)[133](index=133&type=chunk)[172](index=172&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses pre-revenue status, strategic priorities, **$131.9 million** operating loss, and cash sufficient through H2 2026 - The company is a development-stage entity with no revenue, an operating loss of **$131.9 million** in Q1 2024, and an accumulated deficit of **$3.0 billion**[142](index=142&type=chunk) - Key strategic priorities include continued improvement of prototype cells (energy density, cathode, reliability), scaling manufacturing processes at the QS-0 pre-pilot line, and advancing commercialization through customer sampling (A0 prototypes) and the targeted QSE-5 product[144](index=144&type=chunk)[145](index=145&type=chunk)[149](index=149&type=chunk) - Management believes current cash and marketable securities of approximately **$1.0 billion** will be sufficient to fund operations into the second half of 2026[175](index=175&type=chunk)[179](index=179&type=chunk) Comparison of Operating Results (in thousands) | | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $83,847 | $76,941 | $6,906 | 9% | | General and administrative | $48,054 | $33,037 | $15,017 | 45% | | **Loss from operations** | **$(131,901)** | **$(109,978)** | **$(21,923)** | **20%** | - The **45%** increase in G&A expenses was primarily due to a **$24.5 million** litigation settlement accrual and **$10.6 million** in other legal costs, partially offset by a **$20.1 million** decrease in stock-based compensation expense[172](index=172&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to the company's market risk exposure occurred during the first quarter of 2024 - There have been no material changes to the Company's market risk during the three months ended March 31, 2024[196](index=196&type=chunk) [Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2024, with no material internal control changes - Based on an evaluation by management, the CEO and CFO concluded that as of March 31, 2024, the company's disclosure controls and procedures were effective[198](index=198&type=chunk) - No change in internal control over financial reporting occurred during the quarter that has materially affected, or is reasonably likely to materially affect, the company's internal control over financial reporting[199](index=199&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) Company settled Warrants and Securities Class Action Litigations in April 2024, with accruals, while derivative suits remain stayed - In April 2024, the company agreed to settle the Warrants Litigation[95](index=95&type=chunk) - In April 2024, an agreement in principle was reached to settle the Securities Class Action Litigation. A net charge of **$24.5 million** was recorded for the potential settlement[96](index=96&type=chunk) - Multiple shareholder derivative suits are ongoing but are currently stayed[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) Key risks include solid-state battery development, manufacturing scale-up, Volkswagen partnership, intense competition, and stock volatility - The company faces significant challenges in developing a solid-state battery cell and producing it at high volumes with acceptable performance, quality, consistency, and cost[206](index=206&type=chunk) - The relationship with Volkswagen is subject to risks, including the possibility of termination. Certain unmet milestones have triggered VW's right to exercise its put rights, which would terminate the joint venture and VW's purchase commitments[233](index=233&type=chunk)[239](index=239&type=chunk) - The business is capital-intensive with a history of losses. The ability to become profitable depends on controlling costs and achieving projected cost advantages at scale, which has not yet been demonstrated[223](index=223&type=chunk)[301](index=301&type=chunk) - The battery market is highly competitive, with established lithium-ion manufacturers and numerous companies, including automotive OEMs and state-backed consortiums, investing heavily in solid-state and alternative battery technologies[252](index=252&type=chunk)[253](index=253&type=chunk) - The trading price of the Class A Common Stock has been and may continue to be subject to extreme volatility, influenced by development announcements, competitor progress, and market sentiment[291](index=291&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=59&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the last fiscal quarter - None[336](index=336&type=chunk) [Other Information](index=59&type=section&id=Item%205.%20Other%20Information) Several directors and executive officers adopted Rule 10b5-1 trading plans for potential share sales during the last fiscal quarter - On March 1, 2024, Jagdeep Singh, Chairman, adopted a Rule 10b5-1 trading plan for the sale of up to **3,249,520** shares of Class A Common Stock[338](index=338&type=chunk) - On March 4, 2024, Prof. Dr. Fritz Prinz, Director, adopted a Rule 10b5-1 trading plan for the sale of up to **2,297,175** shares of Class A Common Stock[339](index=339&type=chunk) - On March 14, 2024, Dr. Tim Holme, CTO, adopted a Rule 10b5-1 trading plan for the sale of up to **2,544,600** shares of Class A Common Stock[340](index=340&type=chunk) [Exhibits](index=60&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL data files - The exhibits include certifications from the Principal Executive Officer and Principal Financial Officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act[345](index=345&type=chunk)