QuantumScape Corp has recently released its 10-Q report, detailing the company's focus on developing and commercializing solid-state lithium-metal batteries for electric vehicles and other applications in the United States. The company was founded in 2010 and is headquartered in San Jose, California. QuantumScape is a development-stage company with no revenue to date, having incurred a net loss from operations of approximately $123.6 million and $247.2 million for the three and six months ended June 30, 2025, respectively, with an accumulated deficit of approximately $3.6 billion from its inception through June 30, 2025.
The Management’s Discussion and Analysis of Financial Condition and Results of Operations in the 10-Q report highlights QuantumScape's key trends, opportunities, and uncertainties. The company is focused on product development, including the advancement of its solid-state lithium-metal battery technology, such as the QSE-5, with an energy density of over 800 Wh/L and <15 minute 10% to 80% fast-charging capability. QuantumScape's research and development efforts also encompass the continued improvement of the cathode, quality, consistency, and reliability, throughput, and cell design.
Moreover, QuantumScape is working on process development, specifically on its proprietary solid-state ceramic separator and anode-free architecture, aiming to reduce cost, increase throughput, and improve quality. The company is also collaborating with PowerCo, a company formed by Volkswagen, to industrialize the solid-state lithium-metal battery technology and has entered into customer sampling agreements with various OEMs for testing and validating its solid-state battery cells.
In terms of access to capital, QuantumScape believes its cash resources will last into 2029. The company has filed a shelf registration statement for the offer and sale of Class A Common Stock, preferred stock, depositary shares, debt securities, warrants, subscription rights, purchase contracts, and units in one or more offerings and in any combination for an aggregate offering price of up to $1 billion. QuantumScape has also conducted offerings of its Class A Common Stock, generating proceeds of approximately $128.5 million during the year ended December 31, 2024, and approximately $0.9 million during the six months ended June 30, 2025.
The report emphasizes that changes to QuantumScape's technology development, operating costs, and scale-up could materially impact the company and the availability of its capital resources. Additionally, the company may need additional cash resources due to changed business conditions or other developments, including unanticipated delays in negotiations with automotive OEMs and tier-one automotive suppliers. The market has reacted to these announcements by moving the company's shares -5.23% to a price of $11.97. For more information, read the company's full 10-Q submission here.
