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Mar 31, 2024
QuantumScape Q1 2024 Earnings Report
QuantumScape reported a net loss for Q1 2024 and continues to focus on the development and production of its solid-state battery technology.
Key Takeaways
QuantumScape reported a GAAP net loss of $120.6 million and an Adjusted EBITDA loss of $76.2 million for Q1 2024. The company started shipments of Alpha-2 prototype battery cells and is progressing with its Raptor fast separator production process and Cobra process development.
Started shipments of Alpha-2 prototype battery cells to automotive customers.
Ramping the Raptor fast separator production process.
Progressing with low-volume B0 prototype production of QSE-5.
Preparing the Cobra process to support higher volumes of QSE-5 in 2025.
Forward Guidance
QuantumScape maintains its full-year 2024 guidance for capital expenditures to be between $70M and $120M and for Adjusted EBITDA loss to be between $250M and $300M. The company expects its cash runway to extend into the second half of 2026.
Positive Outlook
- Full-year 2024 guidance for capital expenditures to be between $70M and $120M.
- Full-year 2024 guidance for Adjusted EBITDA loss to be between $250M and $300M.
- Cash runway is expected to extend into the second half of 2026.
- Focus on bringing first commercial solid-state lithium-metal battery cell to market for EV applications.
- Increasing focus on intensive collaboration with automotive partners, including prospective launch customer.
Challenges Ahead
- Faces significant challenges in scaling up a solid-state battery cell and producing it at high volumes.
- Could encounter significant delays and/or technical challenges in replicating and scaling up performance.
- May encounter delays and other obstacles in acquiring, installing, and operating new manufacturing equipment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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