QuantumScape Corp QS
QuantumScape is a leader in developing next-generation solid-state lithium-metal battery technology for EVs and other applications. QuantumScape Battery Inc. was founded in 2010 with the mission to revolutionize energy storage to enable a sustainable future.
We are in the midst of a once-in-a-century shift in automotive powertrains, from ICE to clean EVs. After 30 years of gradual improvements in conventional lithium-ion batteries, the benefits of EVs have been demonstrated, principally in the premium passenger car market. However, there are fundamental limitations inhibiting widespread adoption of battery technology, and we believe the automotive market needs a step change in battery technology to make mass market EVs competitive with the fossil fuel alternative.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| R&D | $375.6M | $383.0M | $347.9M | $297.4M | $151.5M | $65.1M | $45.9M | — |
| SG&A | $97.0M | $142.2M | $131.1M | $123.2M | $63.8M | $15.9M | $9.9M | — |
| Total operating expenses | $472.6M | $525.2M | $479.0M | $420.6M | $215.3M | $81.0M | $55.8M | — |
| Operating income | -$472.6M | -$525.2M | -$479.0M | -$420.6M | -$215.3M | -$81.0M | -$55.8M | — |
| Interest expense | $2.0M | $2.2M | $2.4M | $2.4M | $1.4M | $20.8M | $94.0K | — |
| Pre-tax income | -$433.5M | -$478.2M | -$445.1M | -$411.9M | -$46.0M | -$1.68B | -$51.3M | — |
| Income tax | $1.5M | $269.0K | $20.0K | $0 | $0 | $0 | $0 | — |
| Net income | -$435.1M | -$477.9M | -$445.1M | -$411.9M | -$46.0M | -$1.68B | -$51.3M | — |
| EPS, basic | -0.76 | -0.94 | -0.96 | -0.95 | -0.11 | -6.67 | -0.21 | — |
| EPS, diluted | -0.76 | -0.94 | -0.96 | -0.95 | -0.52 | -6.67 | -0.21 | — |
| Shares, diluted (wtd. avg.) | 576.0M | 508.1M | 462.2M | 433.0M | 409.5M | 252.1M | 239.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $230.5M | $140.9M | $142.5M | $235.4M | $320.7M | $113.2M | $22.8M | — |
| Short-term investments | $740.3M | $769.9M | $928.3M | $826.3M | $1.13B | $884.3M | $107.1M | — |
| Total current assets | $981.6M | $922.3M | $1.08B | $1.07B | $1.46B | $1.01B | $131.2M | — |
| Property, plant and equipment | $251.4M | $300.0M | $313.2M | $295.9M | $166.2M | $43.7M | $25.5M | — |
| Total assets | $1.31B | $1.32B | $1.50B | $1.48B | $1.72B | $1.07B | $172.4M | — |
| Accounts payable | $11.8M | $6.5M | $13.0M | $21.4M | $14.2M | $5.4M | $2.9M | — |
| Total current liabilities | $61.5M | $64.9M | $57.1M | $46.8M | $30.6M | $12.3M | $7.2M | — |
| Total liabilities | $139.2M | $164.5M | $161.8M | $155.9M | $107.1M | $713.3M | $22.0M | — |
| Retained earnings | -$3.79B | -$3.36B | -$2.88B | -$2.44B | -$2.02B | -$1.98B | -$295.9M | — |
| Total equity | $1.17B | $1.16B | $1.34B | $1.32B | $1.61B | $351.8M | $148.7M | $191.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$242.5M | -$274.6M | -$240.0M | -$218.0M | -$127.9M | -$61.3M | -$41.7M | — |
| Depreciation and amortisation | $65.6M | $57.8M | $42.0M | $28.3M | $11.2M | $6.9M | $4.7M | — |
| Stock-based compensation | $127.5M | $144.7M | $166.3M | $127.1M | $52.2M | $17.0M | $6.8M | — |
| Capital expenditure | $36.3M | $62.2M | $84.6M | $158.8M | $127.2M | $24.1M | $9.8M | — |
| Investing cash flow | $14.9M | $128.9M | -$152.5M | $124.1M | -$385.8M | -$802.6M | $33.3M | — |
| Financing cash flow | $312.8M | $144.0M | $300.2M | $8.6M | $736.6M | $953.7M | $394.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-173828.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$51.3M | -$1.68B | -$46.0M | -$411.9M | -$445.1M | -$477.9M | -$435.1M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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