QuantumScape Earnings Call Transcripts
Fiscal Year 2026
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Solid-state lithium-metal battery technology is advancing toward commercialization, with key milestones including a 200x process speed improvement, a 2024 product launch, and strong partnerships with major automotive OEMs. Expansion into aerospace, defense, and data centers is underway, supported by robust liquidity and increasing customer billings.
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The meeting approved all board, auditor, and executive compensation proposals. Leadership changes were highlighted, with new directors joining and a former director moving to a strategic advisory role. Strategic focus remains on automotive commercialization, with expansion into defense and data center markets.
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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.
Fiscal Year 2025
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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.
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Solid-state lithium metal battery technology is advancing toward commercialization, with major milestones including a Ducati vehicle demonstration and expanded licensing with VW PowerCo. Manufacturing innovations and partnerships with Murata and Corning support a capital-light, scalable model. Commercialization is targeted before 2030, with applications in automotive and beyond.
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Q3 saw a major tech demo with Volkswagen Group, $12.8M in customer billings, and strong progress on ecosystem partnerships. Adjusted EBITDA loss was $61.4M, with liquidity at $1.0B and a cash runway through decade's end.
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A next-generation solid-state battery platform was showcased in a high-performance motorcycle, highlighting unique ceramic separator technology and a capital-light, licensing-driven business model. Strategic partnerships, especially with VW, and a strong balance sheet position the company for scalable growth and market leadership.
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Expanded PowerCo partnership brings up to $131 million in new milestone payments and extends the cash runway into 2029. New joint development agreements with major OEMs and Murata Manufacturing highlight the scalability of the licensing model and operational progress.
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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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Q1 2025 saw progress on product launches, with QSC-5 samples shipped and the Cobra process ahead of schedule. Financials were in line with guidance, and liquidity remains strong. Strategic partnerships and a licensing model are driving global scale-up and customer engagement.
Fiscal Year 2024
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Achieved all 2024 operational goals, advanced QSE-5 cell technology, and deepened partnership with PowerCo for industrialization and licensing. Ended 2024 with $910.8M liquidity, guiding for lower spend in 2025 as focus shifts to higher-volume B1 sample production and expanded licensing.
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Achieved a major milestone with the first B-sample shipments of QSE-5 solid-state batteries, featuring high energy density and fast charging. Collaboration with PowerCo accelerates industrialization, while a capital-light model and strong liquidity extend the cash runway to 2028.
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Solid-state lithium metal battery development is progressing, with B-sample qualification targeted for 2024 and a major licensing deal with VW extending the cash runway to 2028. The technology offers superior energy density and performance, with strong validation from VW and a focus on automotive commercialization.
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A major licensing deal with PowerCo extends the cash runway into 2028 and accelerates gigawatt-scale commercialization of solid-state batteries. Q2 saw $18.9M in CapEx, a $123M net loss, and $938M liquidity, with robust customer engagement and continued focus on innovation.
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Solid-state lithium metal battery technology is advancing toward commercialization, with B-sample milestones and strong OEM partnerships, including Volkswagen. The new CEO has shifted the company to an execution-focused culture, and a robust cash position supports ongoing development.