Logo

QS

QuantumScape Corporation

QS

QuantumScape Corporation • NYSE
$12.22 ▲ 1.16% (+0.14)
Market Cap $7.35 B
52w High $19.07
52w Low $3.40
Dividend Yield 0%
P/E -15.09
Volume 6.91M
Outstanding Shares 601.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $100.824M ▼ $-105.824M ▲ 0% $-0.18 ▲ $-91.152M ▲
Q2-2025 $0 $104.116M ▼ $-114.698M ▼ 0% $-0.2 ▲ $-94.712M ▲
Q1-2025 $0 $105.24M ▼ $-114.423M ▲ 0% $-0.21 ▲ $-95.56M ▲
Q4-2024 $0 $110.705M ▼ $-114.662M ▲ 0% $-0.23 $-96.136M ▲
Q3-2024 $0 $115.215M $-119.572M 0% $-0.23 $-104.206M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.004B ▲ $1.343B ▲ $127.484M ▼ $1.216B ▲
Q2-2025 $797.493M ▼ $1.168B ▼ $143.592M ▼ $1.025B ▼
Q1-2025 $860.309M ▼ $1.259B ▼ $150.294M ▼ $1.109B ▼
Q4-2024 $910.767M ▲ $1.322B ▲ $164.548M ▲ $1.158B ▲
Q3-2024 $841.014M $1.272B $161.352M $1.111B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-105.824M ▲ $-63.734M ▼ $-156.378M ▼ $270.639M ▲ $50.527M ▲ $-73.592M ▼
Q2-2025 $-114.698M ▼ $-61.84M ▼ $77.256M ▲ $3.48M ▼ $18.896M ▲ $-70.148M ▼
Q1-2025 $-114.423M ▲ $-60.749M ▼ $62.033M ▲ $11.405M ▼ $12.689M ▲ $-66.584M ▲
Q4-2024 $-114.662M ▲ $-58.657M ▲ $-109.073M ▼ $133.891M ▲ $-33.839M ▼ $-69.819M ▲
Q3-2024 $-119.699M $-92.802M $66.132M $4.987M $-21.683M $-110.728M

Five-Year Company Overview

Income Statement

Income Statement QuantumScape is still a pure development-stage company: it has effectively no product revenue yet, only expenses. The income statement shows steady, sizable operating losses every year as the company spends on people, labs, and equipment to advance its battery technology. Losses have grown over time as the business has scaled up R&D and early manufacturing efforts, but they have not exploded uncontrollably. This pattern is typical for a company trying to commercialize a new hard-tech platform, but it does mean the path to profitability depends entirely on successfully bringing its batteries to market and ramping volumes over time.

Balance Sheet

Balance Sheet The balance sheet looks like that of a young, well-funded technology developer. The company holds a meaningful pool of assets, largely cash and investment in facilities and equipment, supported by a strong equity base from its SPAC listing and follow-on capital raises. Debt is present but relatively modest compared with total assets and equity, so the business is not heavily leveraged. The main watchpoint is that the cash balance has been trending down as operating losses and investment continue, so financial strength today is solid but clearly tied to how long current funds can support the development plan before additional capital may be needed.

Cash Flow

Cash Flow Cash flow is consistently negative, both from operations and after capital spending. The company is burning cash each year to fund R&D, prototype lines, and pilot manufacturing, and that burn has gradually increased as activities have scaled. Capital expenditures show that QuantumScape is putting real money into physical infrastructure, not just lab work, which is necessary for eventual production but adds to cash needs. Overall, this is a classic “cash-out, no-cash-in yet” profile, meaning future funding—either from partners, capital markets, or eventual customer payments—will be a critical factor over the coming years.

Competitive Edge

Competitive Edge QuantumScape’s competitive position rests on a distinct technical approach and a deep relationship with a major automaker. Its anode‑less, all‑solid‑state lithium‑metal design, anchored by a proprietary ceramic separator, aims to deliver longer range, faster charging, and better safety than today’s lithium‑ion batteries. Extensive intellectual property and a differentiated materials stack create real technical barriers for rivals. The partnership with Volkswagen (via PowerCo) provides validation, access to automotive know‑how, and a likely first commercial customer, which is a major advantage. However, the competitive environment is intense: other start‑ups and large incumbents are also racing toward solid‑state or improved lithium‑ion solutions, and investors have limited visibility on which designs will win at scale and cost. QuantumScape’s position is promising but still unproven in mass production and in a broad customer set beyond its anchor partner.

Innovation and R&D

Innovation and R&D Innovation is the heart of QuantumScape’s story. The company is pushing a fully solid‑state architecture with no conventional anode, aiming for high energy density, rapid charging, long cycle life, and improved safety. Its ceramic separator and “Cobra” manufacturing process are central innovations designed to solve both performance and scalability challenges. R&D intensity is high, and recent progress—such as shipping A and B samples of its QSE‑5 cells to automakers and demonstrating strong test results—suggests the technology is moving through the automotive qualification process. That said, the most difficult phases still lie ahead: achieving C‑sample readiness, proving high‑volume manufacturing yields, controlling costs, and confirming long‑term durability in real‑world conditions. Innovation here is meaningful but comes with significant execution and timing risk.

Summary

Overall, QuantumScape is a classic high‑risk, high‑potential, pre‑revenue technology company. Financially, it has no operating revenue, ongoing losses, negative cash flow, and a shrinking but still meaningful cash cushion supported by a relatively clean balance sheet with limited debt. Strategically, it holds a differentiated solid‑state battery technology, a strong IP portfolio, and a strategically important partnership with Volkswagen, all of which provide a credible path toward commercialization if technical and manufacturing challenges are solved. The main uncertainties relate to technology scaling, production economics, industry adoption, competition from both start‑ups and established battery makers, and the need for continued funding before revenues arrive. How well QuantumScape navigates the transition from lab and pilot lines to reliable, cost‑effective mass production will largely determine whether its current promise translates into a sustainable, profitable business over time.

NEWS

November 20, 2025 · 6:55 AM UTC

QuantumScape Hosts Second Annual Solid-State Batteries Symposium in Japan

Read more

October 23, 2025 · 6:46 AM UTC

Tradr Debuts Leveraged ETFs on BLSH, DASH, FLY, IREN, NEM, OPEN, QS, SRPT & WULF

Read more

October 22, 2025 · 4:15 PM UTC

QuantumScape Reports Third Quarter 2025 Business and Financial Results

Read more

October 22, 2025 · 3:50 PM UTC

Halper Sadeh LLC Encourages QuantumScape Corporation Shareholders to Contact the Firm to Discuss Their Rights

Read more

October 21, 2025 · 8:30 AM UTC

Defiance Launches QSU: The First 2X Long ETF for QuantumScape Corporation

Read more