NASDAQ$QS
QuantumScape Corporation · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported steady progress into 2022 by showing first 16-layer results and demonstrated results over 500 cycles with 16 layers under gold-standard test conditions.
QuantumScape reported progress in Q1 2022, demonstrating 16-layer cell results with over 500 cycles under gold-standard test conditions. They also increased separator film production with new tooling, achieving average weekly starts of over 3,700 exiting Q1 2022.
- Demonstrated 16-layer cell results with over 500 cycles under gold-standard test conditions.
- Increased separator film production with new tooling, achieving average weekly starts of over 3,700 exiting Q1 2022.
- Spent $39M on capital expenditures and $57M on cash operating expenses in Q1.
- Reiterated FY'22 guidance of $325M to $375M for capex and $225M to $275M for cash opex.
Headline financials
Revenue & EPS history
QuantumScape · Revenue · Quarterly
$0
Forward guidance
QuantumScape anticipates spending $35M to $65M on capital expenditures in Q2 and expects cash operating expenses to grow sequentially over the year. They reiterate FY'22 guidance of $325M to $375M for capex and $225M to $275M for cash opex, planning to enter 2023 with over $800M in liquidity.
Tailwinds
- Complete production qualification for the majority of the tooling for the Phase 2 engineering line in Q2.
- Target delivery of A-sample cells to at least one customer in 2022.
- QS-0 pre-pilot line remains on track to produce candidate B-sample cells in 2023.
- Complete a range of critical facilities improvements and begin to take delivery of powder pre-processing and metrology automation tools for the QS-0 line in Q2.
- New continuous-flow separator manufacturing capacity has allowed us to increase average weekly starts and delivered marked improvements to the quality and consistency of our ceramic solid-electrolyte material.
Headwinds
- Battery development and manufacturing is a complex undertaking that requires grit, determination and disciplined execution.
- Building high volumes of multilayer cells in commercially relevant area and with higher layer count requires substantial development effort.
- Company could encounter significant delays and/or technical challenges in replicating the performance seen in its single-layer and early multilayer cells and in achieving the high quality, consistency and throughput required for commercial production and sale.
- Company may encounter delays in hiring the engineers it needs to expand its development and production efforts, delays in building out QS-0, and delays caused by the COVID-19 pandemic.
- Delays or difficulties in meeting technical milestones could cause prospective JV partners not to purchase cells from our pre-production line or not to proceed with a manufacturing joint venture.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.1%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-0.1%
Avg return
30 days after
40%
10 / 25 earnings
Positive
+22.6%
Q3 2024
Best reaction
-12.0%
Q4 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | -4.7% | +12.0% | |
| Q4 2026 | -12.0% | -18.4% | -23.7% | |
| Q3 2025 | +8.0% | +14.8% | -15.5% | |
| Q2 2025 | -1.6% | -27.7% | -36.4% | |
| Q1 2025 | -0.5% | -0.8% | -0.3% | |
| Q4 2024 | +7.0% | +14.7% | -9.7% | |
| Q3 2024 | +22.6% | +7.4% | -2.6% | |
| Q2 2024 | +2.6% | +2.8% | +4.8% | |
| Q1 2024 | -8.8% | -1.6% | +3.8% | |
| Q4 2023 | -3.5% | -6.4% | -23.9% | |
| Q3 2023 | -11.2% | -10.0% | -2.6% | |
| Q2 2023 | +14.4% | +42.2% | -26.2% | |
| Q1 2023 | -1.0% | -10.6% | -13.3% | |
| Q4 2022 | +9.6% | +15.2% | -16.4% | |
| Q3 2022 | -10.7% | -8.1% | -22.4% | |
| Q2 2022 | +4.8% | +3.3% | +8.7% | |
| Q1 2022 | -5.6% | -4.7% | -22.2% | |
| Q4 2021 | -7.7% | -10.9% | -2.5% | |
| Q3 2021 | -8.2% | +13.4% | +26.1% | |
| Q2 2021 | +7.2% | +1.5% | -5.8% | |
| Q1 2021 | -4.1% | -4.1% | -2.9% | |
| Q4 2019 | -8.0% | -15.2% | -29.0% | |
| Q2 2020 | -8.0% | -15.2% | -29.0% | |
| Q4 2020 | +21.7% | +13.9% | +4.3% | |
| Q3 2020 | -11.8% | +3.3% | +221.9% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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