QuantumScape Reports First-Quarter Financial Results
QuantumScape Corporation (QS) released its first-quarter financial results after the market closed on Wednesday. The company reported a quarterly loss of 24 cents per share, meeting analyst expectations and remaining unchanged from the same period last year.
QuantumScape ended the first quarter with $1.01 billion in liquidity, providing a cash runway extending into the second half of 2026. The company remains focused on bringing its first commercial solid-state lithium-metal battery cell to market for electric vehicle applications. CEO Dr. Siva Sivaram emphasized the importance of differentiated technology, close customer engagement, and methodical execution of milestones in achieving this goal.
QuantumScape maintained its full-year 2024 guidance for capital expenditures between $70 million and $120 million and adjusted EBITDA loss between $250 million and $300 million. Following the earnings release, QuantumScape shares experienced a 2.55% decline in after-hours trading, settling at $5.34 at the time of publication.