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.
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