QuantumScape Corp SEC 10-Q Report
QuantumScape Corp, a leading developer of solid-state lithium-metal battery technology, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial performance and significant strides in product development and commercialization efforts. QuantumScape continues to focus on advancing its battery technology while improving its financial metrics.
Financial Highlights
Net Loss: QuantumScape reported a net loss of $114.7 million for the three months ended June 30, 2025, reflecting a 7% improvement compared to the same period in 2024. For the six months ended June 30, 2025, the net loss was $229.1 million, showing a 6% improvement from the same period in 2024.
Loss from Operations: The company recorded a loss from operations of $123.6 million for the three months ended June 30, 2025, an 8% decrease from the same period in 2024. For the six months ended June 30, 2025, the loss from operations was $247.2 million, a 7% decrease from the same period in 2024.
Net Loss Per Share: The net loss per share was $(0.20) for the three months ended June 30, 2025, compared to $(0.25) for the same period in 2024. For the six months ended June 30, 2025, the net loss per share was $(0.41), compared to $(0.49) for the same period in 2024.
Interest Income: Interest income for the three months ended June 30, 2025, was $8.9 million, a 26% decrease from the same period in 2024. For the six months ended June 30, 2025, interest income was $18.7 million, a 22% decrease from the same period in 2024.
Interest Expense: Interest expense for the three months ended June 30, 2025, was $0.5 million, an 8% decrease from the same period in 2024. For the six months ended June 30, 2025, interest expense was $1.0 million, an 8% decrease from the same period in 2024.
Business Highlights
Product Development: QuantumScape is focused on developing its solid-state lithium-metal battery technology, with significant progress in single-layer and multilayer cell cycling data. The company shipped its first A0 prototype battery cells to multiple OEMs in 2022 and began producing low volumes of B-sample cells in 2024 for automotive customer testing.
New Product Launches: The company announced its first targeted commercial product, the QSE-5, in 2023. This cell has a capacity of approximately 5 amp-hours, an energy density of over 800 Wh/L, and a fast-charging capability of less than 15 minutes from 10% to 80%.
Process Development: QuantumScape is working on improving the quality, consistency, and reliability of its cells, including the development of proprietary higher-volume separator manufacturing processes. The company is also automating its manufacturing process and purchasing higher throughput equipment to enhance production efficiency.
Commercialization and Market Focus: The company is collaborating with PowerCo, a Volkswagen Group company, to industrialize its QSE-5 technology. QuantumScape has signed customer sampling agreements with several OEMs to test and validate its solid-state battery cells for potential inclusion in pre-production and serial production vehicles.
Future Outlook: QuantumScape plans to continue investing in research and development to improve battery cell performance and manufacturing processes. The company aims to achieve significant cost savings in battery design and manufacturing, and capture industry cost savings in materials and components.
Access to Capital: The company believes its cash resources will last into 2029. It has an ATM offering in place for the issuance and sale of Class A Common Stock, which has raised approximately $128.5 million in 2024 and $0.9 million in the first half of 2025.
Regulatory Landscape: QuantumScape operates in an industry subject to stringent environmental regulations, which are expected to provide a tailwind to its growth. The company is also navigating trade restrictions and tariffs that could impact its sales and margins.
SEC Filing: QuantumScape Corp [ QS ] - 10-Q - Jul. 25, 2025