Investors are still waiting for a meaningful product advance from Quantumscape.Shares of QuantumScape (QS -6.93%) closed lower today as the development-stage quantum-battery stock reported first-quarter results this morning. Investors seemed to want to see faster progress in the company's battery-cell development.As a result, QuantumScape stock closed the session down 6.9%. QuantumScape still needs timeQuantumScape still has no revenue, and its operating expenses increased modestly in the quarter from $110 ...

Investors in QuantumScape (NYSE:QS) have certainly had a rough go of it lately. Shares of QS stock are down more than 25% this year and considerably more from the company’s 2020/2021 peak. Today’s downside move of more than 8% appears to be driven by the company’s recent first-quarter earnings. The results missed the mark on earnings per share, with a loss of 24 cents per share reported, relative to expectations of only 21 cents of losses for the quarter.This earnings miss led analysts at TD Cowen to lower ...

With QuantumScape’s (NYSE:QS) recent first-quarter earnings report, the devil may be in the details. Earlier, UBS slashed its price target on QS stock to $5 from $9 after the company reported an earnings miss. However, an element of QuantumScape’s core product may have spooked investors.At first glance, the red ink in QS stock appears to be a straightforward matter. On Wednesday, the company — which specializes in solid-state battery (SSB) technology for electric vehicles — reported a loss per share of 24 c ...

QuantumScape Corporation. (NYSE:QS) Q1 2024 Earnings Conference Call April 24, 2024 5:00 PM ET Company Participants John Saager - Vice President of Capital Markets and FP&A Siva Sivaram - CEO Kevin Hettrich - CFO Conference Call Participants Jordan Levy - Truist Securities Operator Good day and welcome to QuantumScape's First Quarter 2024 Earnings Conference Call. John Saager, QuantumScape's Vice President of Capital Markets and FP&A, you may begin your conference. John Saager Thank you, operator. Good afte ...

QuantumScape Q1 2024 Shareholder Letter [Progress on 2024 Goals & Alpha-2 Prototype](index=3&type=section&id=Progress%20on%202024%20Goals%20%26%20Alpha-2%20Prototype) The company achieved its first 2024 goal by shipping energy-dense Alpha-2 prototype battery cells, demonstrating strong performance for EV applications - Achieved the **first of four key goals for 2024** by starting shipments of six-layer Alpha-2 prototype battery cells to automotive customers on **March 27**[2](index=2&type=chunk)[3](index=3&type=chunk) - The Alpha-2 prototype is the core of the first commercial product, **QSE-5**, and is **more energy-dense** than the earlier 24-layer A0 prototype due to higher-loading cathodes and the FlexFrame cell format[3](index=3&type=chunk) - Alpha-2 prototypes demonstrate high discharge power, capable of up to **10C rates**, which in a 100 kWh pack would be nominally equivalent to over **1,000 horsepower**[9](index=9&type=chunk) - The cells have demonstrated the ability to fast charge from **10% to 80% state of charge** in **less than 15 minutes**, meeting the target for the QSE-5 commercial cell[12](index=12&type=chunk) - The company has reduced the externally applied pressure required for cell operation to **0.7 atm**, which is within the range of conventional EV battery pack designs and practical for real-world applications[16](index=16&type=chunk) [Production Outlook](index=7&type=section&id=Production%20Outlook) The company is scaling manufacturing, ramping up the Raptor process for Alpha-2 and QSE-5 samples, and preparing the Cobra process for higher-volume production - The **Raptor process ramp-up** will accelerate downstream cell assembly development, allow for more extensive cell testing, and enable the start of **QSE-5 B0 sample production**[20](index=20&type=chunk) - **Raptor** serves as a learning platform for the next-generation **Cobra process**, which is designed for **higher-volume QSE-5 prototype production in 2025**[22](index=22&type=chunk) - Downstream cell assembly processes are being **streamlined** by simplifying the bill of materials, consolidating process steps, and **increasing automation**[21](index=21&type=chunk) [Financial Outlook & Position](index=8&type=section&id=Financial%20Outlook%20%26%20Position) QuantumScape reported a Q1 2024 GAAP net loss of $120.6 million, maintained 2024 guidance, and ended with $1.01 billion liquidity, extending its cash runway into H2 2026 Q1 2024 Financial Metrics | Metric | Q1 2024 (in millions) | | :--- | :--- | | Capital Expenditures | $14.1 | | GAAP Operating Expenses | $131.9 | | GAAP Net Loss | $120.6 | | Adjusted EBITDA Loss | $76.2 | Full-Year 2024 Guidance | Metric | Full-Year 2024 Guidance (in millions) | | :--- | :--- | | Capital Expenditures | $70 - $120 | | Adjusted EBITDA Loss | $250 - $300 | - The company ended Q1 with **$1.01 billion** in liquidity and expects its cash runway to extend into the **second half of 2026**[24](index=24&type=chunk) [Strategic Outlook](index=8&type=section&id=Strategic%20Outlook) The company's strategy focuses on commercializing its solid-state lithium-metal battery for EVs, leveraging technology, partner collaboration, and disciplined execution - The company's primary goal is to bring its **first commercial solid-state lithium-metal battery cell** to the electric vehicle market[25](index=25&type=chunk) - The strategy is based on **three pillars**: differentiated technology, close customer engagement, and methodical execution of milestones[25](index=25&type=chunk)[26](index=26&type=chunk) [Financial Statements (Unaudited)](index=9&type=section&id=Financial%20Statements%20%28Unaudited%29) Unaudited financial statements for Q1 2024 detail the company's financial position, operations, and cash flows, including $1.46 billion in total assets [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were $1.46 billion, total liabilities $204.3 million, and total stockholders' equity $1.26 billion | Balance Sheet Item | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Total current assets | $1,045,035 | $1,083,517 | | Total assets | $1,463,978 | $1,501,978 | | 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 Loss](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q1 2024 GAAP net loss was $120.6 million, or ($0.24) per share, an increase from Q1 2023 due to higher operating expenses | Income Statement Item | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | 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) | | Net loss | ($120,628) | ($104,631) | | Basic and Diluted net loss per share | ($0.24) | ($0.24) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 saw net cash used in operations of $57.9 million, net cash provided by investing activities of $106.5 million, and a $49.8 million increase in cash | Cash Flow Item | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | 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 | [Non-GAAP Financial Measures](index=11&type=section&id=Non-GAAP%20Financial%20Measures) The company reconciles GAAP net loss to Adjusted EBITDA, a non-GAAP measure, reporting a Q1 2024 Adjusted EBITDA loss of $76.2 million Reconciliation to Adjusted EBITDA | Reconciliation Item (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | GAAP net loss attributable to Common Stockholders | ($120,648) | ($104,647) | | Stock-based compensation | $19,287 | $37,990 | | Litigation settlement accrual and legal fees, net | $24,455 | — | | Depreciation and amortization expense | $11,983 | $9,505 | | **Adjusted EBITDA** | **($76,176)** | **($62,483)** | - **Adjusted EBITDA** is defined as net loss before interest, non-controlling interest, revaluations, stock-based compensation, depreciation, and other non-recurring charges, and is used to measure **core operating performance**[32](index=32&type=chunk) [Forward-Looking Statements](index=12&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements about technology development and financial projections, highlighting risks like manufacturing scale-up challenges and supply chain disruptions - The letter contains **forward-looking statements** regarding future battery development, performance, and financial forecasts, which are based on current management expectations[35](index=35&type=chunk) - Key risks include **significant challenges in scaling up production**, potential delays in acquiring and operating new manufacturing equipment, **cost overruns**, and the ability to meet **technical milestones** required for commercialization[36](index=36&type=chunk)

Tesla (NASDAQ:TSLA) is preparing to lay off over 10% of its staff. Ford (NYSE:F) is slashing the prices on some EVs by as much as $5,500. This is a tough time to invest in EV-associated companies. With an imminent event adding an extra element of risk for QuantumScape (NYSE:QS), you don’t need to buy QuantumScape stock right now.I understand the appeal of a “forever battery” for EVs. Yet, as the company’s investors have found out the hard way, there’s a disconnect between concept and reality with QuantumSca ...

QuantumScape (NYSE: QS) stock price has retreated sharply this year, joining other companies in the EV industry that have plunged this year. As I predicted in my last article, it has dropped to its November 2023 lows and some analysts believe it has more downside to go.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.QuantumScape has made a lot of progressCopy link to sectionQauntumScape’s shares have crashed by almost 20% this year and by 60% from its ...

Technology specialist QuantumScape (NYSE:QS) — which is researching and developing solid-state batteries (SSBs) for electric vehicles — has struggled badly since peaking in December 2020. However, some developments could help potentially lift QS stock from the doldrums. A critical test will occur on April 24, when the company is scheduled to release its first-quarter earnings report.During the three months ended March 31, QuantumScape made a significant change at the top. In February, the company announced ...

QuantumScape Corporation (QS) closed the latest trading day at $5.98, indicating a +1.36% change from the previous session's end. This move outpaced the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.Coming into today, shares of the company had lost 2.16% in the past month. In that same time, the Auto-Tires-Trucks sector lost 7.62%, while the S&P 500 gained 0.48%.The investment community will be paying close attentio ...

On the surface, electric-vehicle battery manufacturer QuantumScape (NYSE:QS) offers a seemingly bulletproof upside narrative. Since the get-go, range anxiety has impeded widescale adoption of EVs. Should QuantumScape be successful in developing its solid-state battery, it could alleviate concerns due to enhanced range, quicker charging times and safer profile. Thus, QS stock is a buy or so it seems.However, the problem is, as InvestorPlace’s Thomas Yeung mentioned, “investors have become increasingly concer ...