Financial Data and Key Metrics Changes - The company ended Q1 2023 with over $1 billion in liquidity, with a cash runway extending into the second half of 2025 [76][86] - GAAP operating expenses for Q1 were $110 million, with a net loss of $105 million, and cash operating expenses expected to be between $225 million and $275 million for the full year [81][86] Business Line Data and Key Metrics Changes - The company has completed testing of the 24-layer A0 prototype cells with one automotive customer, achieving performance targets on fast charge and cycling capacity retention, with less than 1% capacity loss over 100 cycles [97][98] - The focus is on a 24-layer cell with a capacity of approximately 5 amp hours, which is expected to serve both automotive and consumer electronics markets [3][98] Market Data and Key Metrics Changes - The company sees significant opportunities in both automotive and consumer electronics sectors, with a dual-purpose design aimed at high energy density and power [98] - The automotive market is expected to require hundreds of gigawatt hours of battery capacity to meet the growing demand for electric vehicles [61] Company Strategy and Development Direction - The strategic outlook for 2023 emphasizes transitioning from technology demonstration to commercial product, focusing on improving manufacturing processes and reliability [13][75] - The company plans to leverage its 24-layer design to minimize time to market while maintaining a compelling value proposition for energy density and power capability [82][90] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges of scaling up production but remains optimistic about the demand for their technology, which is expected to outperform traditional lithium-ion batteries [61][85] - The company is focused on minimizing time to market for its first commercial product, with plans for higher throughput production processes [80][92] Other Important Information - Capital expenditures in Q1 were approximately $28 million, primarily directed towards facility spending for the QS-0 preproduction line, with full-year CapEx guidance set between $100 million and $150 million [14][76] - The company is actively working on cost-saving initiatives in both operating and capital expenditures [86] Q&A Session Summary Question: What are the next steps for the 24-layer A0 prototype testing? - The company is working on completing testing with other customers before transitioning to the next phase of sample production [9] Question: Can you provide additional details on internal cost initiatives? - The company is making progress on both OpEx and CapEx, with a commitment to prudent fund management [17][18] Question: How does the focus on the 24-layer 5-amp hour cell impact existing commercial agreements? - The company believes there will be no shortage of demand for the 5-amp hour cells, which are already used in high-volume automotive applications [21] Question: What is the timeline for scaling up production? - The company expects to have lower-volume B samples by next year and higher-volume samples by the end of 2025 [62][92] Question: How does the company view competition from new battery technologies? - The company is pleased to see industry recognition of the need for higher energy densities but emphasizes the importance of proven performance data [85]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39345 QUANTUMSCAPE CORPORATION (Exact name of registrant as specified in its Charter) | Delaware | 85-0796578 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Employe ...

QuantumScape Corporation (NYSE:QS) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET Company Participants John Saager - Head of Investor Relations Jagdeep Singh - Co-Founder, Chief Executive Officer & Chairman Kevin Hettrich - Chief Financial Officer Conference Call Participants Jordan Levy - Truist Securities Gabe Daoud - Cowen Winnie Dong - Deutsche Bank Chris Snyder - UBS Mark Delaney - Goldman Sachs Operator Good afternoon, and thank you for attending today's QuantumScape Corporation's Four ...

Financial Data and Key Metrics Changes - In Q3 2022, the company reported operating expenses of $121 million and a GAAP net loss of $118 million, which was in line with expectations [19] - Cash operating expenses for the quarter were $79 million, with a full-year guidance of $225 million to $275 million reiterated [19] - Capital expenditures (CapEx) for Q3 were approximately $54 million, primarily directed towards facility investments, with a full-year expectation on the lower end of the guidance of $175 million to $225 million [20][22] Business Line Data and Key Metrics Changes - The company is focused on the development of a 24-layer A-sample battery cell, which is a significant milestone aimed at demonstrating a commercially relevant battery cell format [6][10] - Progress has been made in reducing contaminants in the battery film, which is expected to enhance cell performance [7][10] Market Data and Key Metrics Changes - The automotive sector continues to show strong interest, while the consumer electronics market is viewed as a potential additional revenue source [15][36] - The consumer electronics market is estimated to be over $10 billion, which is smaller than the automotive market but may provide a quicker path to market [36] Company Strategy and Development Direction - The company is committed to overcoming macroeconomic challenges and is focusing on cash efficiency in both operating and capital expenditures [30][32] - A hybrid cell architecture is being developed to address the unique requirements of lithium metal batteries, which is expected to improve manufacturability and robustness [12][75] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current macroeconomic headwinds but believes the demand for energy storage remains strong and urgent [16] - The company is optimistic about achieving the A-sample goal by year-end, although it recognizes the tight timeline and potential challenges [28] Other Important Information - The company has initiated a sample campaign for the 24-layer cells and is ramping up film production to support larger volumes for testing [10][46] - The decision regarding the location of the QS-1 pilot facility will consider operational costs, input availability, and incentive packages [56] Q&A Session Summary Question: Impact of contaminant discovery on timeline - The contaminant issue required a cross-functional team to identify and fix the root cause, which increased the difficulty of achieving the A-sample goal on schedule [25][26] Question: Confidence in hitting A-sample goal by year-end - Management believes it remains possible to deliver the A-sample by year-end, but acknowledges the tight timeline and lack of margin for error [28] Question: Effect of macroeconomic uncertainty on plans - The company is focusing on cash use and exploring opportunities to reduce expenditures in both the near and long term [30][32] Question: Commonalities and differences in product development for automotive vs consumer electronics - The consumer electronics market has easier specifications but requires zero externally applied pressure, which is challenging for lithium metal anodes [34][36] Question: Importance of internal sample campaign - The internal sample campaign is crucial to ensure high product quality before delivering to customers, which will impact future milestones [60][62] Question: Impact of hybrid cell architecture on customer collaborations - The hybrid architecture is flexible and can be customized for different OEMs, allowing for adaptations based on specific needs [63][75]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39345 QUANTUMSCAPE CORPORATION (Exact name of registrant as specified in its charter) Delaware 85-0796578 (State or other jurisdic ...

Financial Data and Key Metrics Changes - In Q2 2022, the company reported operating expenses of $96 million and a GAAP net loss of $95 million, which was in line with expectations [15] - Cash operating expenses for the quarter were $60 million, with full-year expectations ranging from $225 million to $275 million [16] - Capital expenditures (CapEx) for Q2 were approximately $28 million, below the guidance range of $35 million to $65 million, leading to a revised full-year CapEx projection of $175 million to $225 million [17][18] - The company expects to enter 2023 with over $950 million in liquidity, exceeding previous guidance of over $800 million [21] Business Line Data and Key Metrics Changes - The company achieved a peak of over 5,000 weekly separator film starts during the quarter, with a goal of reaching 8,000 starts by year-end [11] - Progress was made on 24-layer prototype cells, which are crucial for automotive customer delivery [6][12] Market Data and Key Metrics Changes - The company has engaged with six prospective automotive customers, including top 10 manufacturers and luxury automakers, indicating robust demand for next-generation solid-state batteries [13][12] Company Strategy and Development Direction - The company aims to deliver 24-layer A-sample cells to automotive customers by year-end, which is essential for the automotive qualification process [14] - The operational focus includes improving cell quality and throughput, with the phase two engineering line now operational, allowing for increased production capacity [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges related to production quality and throughput but expressed optimism about progress made on 24-layer cells [7][14] - The company remains focused on strategic partnerships and customer engagement to drive technology to market [13][36] Other Important Information - The company is strategically planning fundraising and capital spending, forecasting a cash runway extending through the end of 2024 [34] - The relationship with Volkswagen is expected to remain strong despite the creation of PowerCo, with ongoing collaboration on technology development [37] Q&A Session Summary Question: Can you provide more detail on the lower CapEx spending? - The company is pushing approximately $150 million of CapEx into 2023 due to deliberate postponements and supply chain challenges [44] Question: What is required to go from A-sample to B-sample? - The A-sample is defined by OEM requirements, while the B-sample is closer to production processes, typically involving small tweaks [47] Question: What is the timeline for A, B, and C samples? - Assuming A-sample delivery by the end of this year, the C-sample is expected by late 2025 [57] Question: How does the delivery of a C-sample relate to QS-1? - The C-sample is essential for QS-1 commissioning, as it provides learnings necessary for scaling up production [65] Question: What is the significance of the gold-standard test conditions? - The gold-standard test conditions demonstrate the performance capabilities of lithium-metal cells under optimal conditions, which is a key indicator of technology progression [71]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39345 QUANTUMSCAPE CORPORATION (Exact name of registrant as specified in its charter) Delaware 85-0796578 (State or other jurisdi ...

QuantumScape Corporation (NYSE:QS) Q1 2022 Earnings Conference Call April 26, 2022 5:00 PM ET Company Participants John Saager – Head-Investor Relations Jagdeep Singh – Co-Founder, Chairman and Chief Executive Officer Kevin Hettrich – Chief Financial Officer Conference Call Participants Gabe Daoud – Cowen Srini Pajjuri – SMBC George Gianarikas – Baird Wendy Dong – Deutsche Bank Chris Snyder – UBS David Bell – Wolfe Research Operator Good day, and welcome to QuantumScape’s Second Quarter 2021 [Sic] [First Qu ...

Draft UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39345 QUANTUMSCAPE CORPORATION (Exact name of registrant as specified in its Charter) Delaware 85-0796578 (State or Other Juris ...

QuantumScape Corporation (NYSE:QS) Q4 2021 Earnings Conference Call February 16, 2022 5:00 PM ET Company Participants John Saager - Head, Investor Relations Jagdeep Singh - Co-Founder, Chief Executive Officer and Chairman Kevin Hettrich - Chief Financial Officer Conference Call Participants José Asumendi - JPMorgan Chris Snyder - UBS Gabe Daoud - Cowen George Gianarikas - Baird David Bell - Wolfe Research Operator Good day and welcome to QuantumScape’s Fourth Quarter and Full Year 2021 Earnings Call. John S ...