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QuantumScape Corporation
$3.4B
Market Cap
P/E
PEG
-155.6%
ROCE
-37.4%
ROE
0.05
D/E
OPM
-69.0%
% from 52W High
18
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for QS including FX impact
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📈 Price History
Ratio Health
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About

QuantumScape Corporation, together with its subsidiaries, develops solid-state lithium-metal battery technology for electric vehicles and other applications in the United States.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding QS
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 8.05M $51.4M 0.08% Mar 2026
Steve Cohen Point72 Asset Management 3.53M $22.5M 0.03% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED QuantumScape reports $11M customer billings in Q1 2026, ramps Eagle Line.
Revenue & Profitability
GAAP operating expenses in Q1 were $109.2 million, GAAP net loss was $100.8 million, and adjusted EBITDA loss was $63.2 million, in line with expectations. Customer billings for Q1 were $11 million. The company ended Q1 with $904.7 million in liquidity. Full-year 2026 adjusted EBITDA loss guidance remains between $250 million and $275 million.
Outlook
Management views the world's energy system undergoing rapid change, with electrification driving growth across electric vehicles, AI data centers, grid storage, drones, and aerospace. They noted that conventional lithium-ion technology faces safety and performance limitations, creating tailwinds for QuantumScape's solid-state technology. The speed of change in AI data centers was described as 'breathtaking,' and geopolitical disruptions and supply chain risks were cited as tailwinds for the company.
Growth Drivers
Key growth levers include the Eagle Line ramp in Q2 2026 to support customer programs across automotive and other applications; expansion into AI data centers (800V DC designs, last-meter power) and defense/aerospace markets; and continued progress with automotive customers, with four of the top 10 global OEMs now engaged (Volkswagen, two JDA partners, and one transitioning from technology evaluation to joint development). Ecosystem partnerships with Murata and Corning are also a force multiplier.
Balance Sheet & CapEx
Capital expenditures in Q1 2026 were $10 million, primarily final payments related to the Eagle Line. Full-year 2026 CapEx guidance is reiterated at $40 million to $60 million. Ecosystem partners are investing in QuantumScape's proprietary hardware and systems to produce the ceramic separator, which the company sees as a sign of commitment. Management noted the company is well-resourced for new market expansion as part of the annual operating plan.
Margins
Not discussed in this earnings call.
Key Risks
The Safe Harbor statement highlighted risks including uncertainties in future outcomes, technology progress, and financial operating performance. In Q&A, an analyst asked about the timeframe for turning JDAs into formal licensing partnerships, implying execution risk. Management noted customer billings may vary quarter to quarter due to fluctuations in activity across phases of engagement.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-22
Announced a major partnership with Honda and expanded collaboration with Volkswagen PowerCo, while establishing three business verticals and ramping up Eagle Line production. Q2 financials showed a net loss of $98.2M, with customer billings surpassing 2025 levels and liquidity at $859M.
Q1 2026 Q1 2026 2026-04-22
Eagle Line pilot production ramped up, driving progress in automotive and new markets. Q1 saw $11M in customer billings, strong liquidity, and reaffirmed 2026 guidance. Expansion into AI data centers and defense leverages technology and ecosystem partnerships.
Q4 2025 Q4 2025 2026-02-11
Achieved all 2025 operational and commercial goals, improved financial discipline, and expanded customer and partner ecosystem. 2026 guidance targets further efficiency, increased customer billings, and continued technology advancement, supported by a strong liquidity position.
Q3 2025 Q3 2025 2025-10-22
Q3 saw the launch of the Ducati V21L demo with Volkswagen, shipment of Cobra-based QSC5 samples, and $12.8M in customer billings. Operating loss and CapEx were in line with guidance, and liquidity reached $1B, extending the cash runway through decade end.
Q2 2025 Q2 2025 2025-07-23
Expanded PowerCo agreement brings up to $131M in new payments, extends cash runway into 2029, and validates the licensing business model. A new JDA with a major global OEM and the COBRA process milestone further accelerate commercialization and market traction.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
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