QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles, reported a net loss of $119.6 million for the three months ended September 30, 2024, and $363.2 million for the nine months ended September 30, 2024. This represents an 8% and 9% increase in net loss compared to the same periods in 2023, respectively. The company's research and development expenses increased by 10% and 11% for the respective three and nine-month periods, primarily due to higher personnel costs, depreciation, and material supplies. General and administrative expenses saw a 15% increase over the nine months due to litigation settlements and other legal matters. Despite these losses, QuantumScape has a strong liquidity position with $841.0 million in cash and marketable securities as of September 30, 2024. The company has no revenue...Show More

QuantumScape, a development-stage company focusing on next-generation battery technology for electric vehicles, reported a net loss of $119.6 million for the three months ended September 30, 2024, and $363.2 million for the nine months ended September 30, 2024. This represents an 8% and 9% increase in net loss compared to the same periods in 2023, respectively. The company's research and development expenses increased by 10% and 11% for the respective three and nine-month periods, primarily due to higher personnel costs, depreciation, and material supplies. General and administrative expenses saw a 15% increase over the nine months due to litigation settlements and other legal matters. Despite these losses, QuantumScape has a strong liquidity position with $841.0 million in cash and marketable securities as of September 30, 2024. The company has no revenue to date and expects to continue incurring significant expenses and losses in the foreseeable future. QuantumScape has demonstrated capabilities of its solid-state electrolyte-separator and battery technology, shipping its first 24-layer prototype battery cells to automotive OEMs for testing in 2022. The company announced its first targeted commercial product, the QSE-5, and is investing in its pre-pilot production facility, QS-0, in San Jose, California. QuantumScape entered into a Collaboration Agreement with PowerCo, aiming to industrialize solid-state lithium-metal battery technology. The company's future plans include continued investment in research and development to improve battery cell performance and manufacturing processes, with cash resources expected to last into 2028.