The following is a summary of the QuantumScape Corporation (QS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• QuantumScape reported Q1 2024 CapEx of $14.1 million and expects an annual figure between $70 million and $120 million.

• GAAP operating expenses and GAAP net loss noted at $131.9 million and $120.6 million, respectively. Forecasted adjusted EBITDA loss for 2024 sits between $250 million and $300 million.

• Ended the quarter with a strong liquidity position of $1.01 billion, projected to sustain until the second half of 2026.

Business Progress:

• Commenced shipments of six-layer Alpha-2 prototype battery cells to automotive customers, first of four main objectives for 2024 achieved.

• Confirmed enhanced performance of Alpha-2 prototype, highlighting its capability for fast charging and impressive energy density in varying temperatures.

• Initiated the large-scale Cobra process targeting higher volumes of QSE-5 prototype production in 2025.

• Focused on refining assembly processes and boosting cell production.

• Progress seen in Raptor and Cobra, which suggests increased throughput and improved equipment footprint per unit output.

• Remains consistently engaged with customers and maintaining their interest despite short-term market challenges.

More details: QuantumScape IR

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