QuantumScape Corp has recently released its 10-Q report, revealing 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, and an accumulated deficit of approximately $3.6 billion from its inception through June 30, 2025. The company, headquartered in San Jose, California, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape is a development-stage company with no revenue to date. It has been working on developing next-generation battery technology for electric vehicles (EVs) and other applications, aiming to offer greater energy density, faster charging, and greater safety compared to conventional lithium-ion batteries.
In its 10-Q report, QuantumScape discussed its key trends, opportunities, and uncertainties, emphasizing that its performance and future success depend on several factors that present significant opportunities but also pose significant risks and challenges. The company has demonstrated capabilities of its solid-state separator and battery technology in single-layer and multilayer cell cycling data. It has also been focusing on research and development of subsequent generations of prototype samples, including the production of low volumes of its first B-sample cells, and shipping these cells for automotive customer testing. QuantumScape's research and development efforts include continued improvement of the cathode, quality, consistency, and reliability, throughput, and cell design.
The company is also focusing on process development, particularly the throughput and capability of its pilot line in San Jose, California. QuantumScape's architecture depends on its proprietary solid-state ceramic separator, and it is developing subsequent, proprietary higher-volume separator manufacturing processes to reduce cost, increase throughput, and improve quality. Additionally, the company has been working on commercialization and market focus, including entering into the PowerCo Collaboration Agreement with the goal of industrializing the solid-state lithium-metal battery technology it intends to use in its first planned product—the QSE-5. QuantumScape has also signed customer sampling agreements with a number of OEMs and intends to continue working closely with automotive OEMs to make its solid-state battery cells widely available over time.
Based on its current business plan, QuantumScape believes that 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 an ATM offering, selling shares of its Class A Common Stock for aggregate proceeds of approximately $128.5 million during the year ended December 31, 2024.
QuantumScape's ability to meet the milestones to enable the entry into the PowerCo IP License Agreement and related receipt of the initial royalty fee from PowerCo could materially impact the availability of its capital resources. The company may also 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. Following these announcements, the company's shares moved -5.23%, and are now trading at a price of $11.97. Check out the company's full 10-Q submission here.
