NASDAQ$QS
QuantumScape Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
QuantumScape's Q2 2023 progress was marked by shipping high cathode-loading unit cells to automotive partners and advancing manufacturing scale-up processes.
QuantumScape made progress in Q2 2023, shipping high cathode-loading unit cells to automotive partners and advancing its fast separator production process. The company is focused on transitioning from prototype to product, with initial lower-volume B0-sample production slated for next year. They ended the quarter with over $900M in liquidity and maintain their cash runway forecast into the second half of 2025.
- Shipped high cathode-loading unit cells to multiple automotive partners, aligning with the development roadmap.
- First commercial product is planned to be a ~5 Ah cell (QSE-5) with unmatched energy density and power.
- Demonstrated unit cells capable of meeting 15-minute fast-charge target with a high-loading cathode.
- A0 prototype cells successfully passed safety tests, including nail penetration, overcharge, external short circuit, and thermal stability testing up to 300 °C.
Headline financials
Revenue & EPS history
QuantumScape · Revenue · Quarterly
$0
Forward guidance
QuantumScape maintains its full-year 2023 guidance on capital expenditures of $100M to $150M and cash operating expenses of $225M to $275M. The company's cash runway is forecast to extend into the second half of 2025.
Tailwinds
- Raptor equipment is fully installed and beginning qualification, making good progress on implementing faster separator production process.
- QSE-5 product is being developed for a slimmer version of A0 packaging, allowing for an unmatched combination of energy density and power performance.
- Solid-state lithium-metal technology unlocks significant design headroom and can put EV battery development on a fundamentally new trajectory.
- Integrated in-line improvements to manufacturing processes and metrology systems, showing encouraging progress on reliability.
- Ongoing improvements throughout the year have allowed us to ship high cathode-loading unit cells to customers, in line with our development schedule.
Headwinds
- Significant challenges remain in developing a solid-state battery cell and producing it at high volumes.
- Potential delays and/or technical challenges in replicating the performance seen in single-layer and early multilayer cells.
- Risk of not achieving the high quality, consistency, reliability, safety, cost, and throughput required for commercial production and sale.
- Possible delays in acquiring, installing, and operating new manufacturing equipment for automated and/or continuous-flow processes.
- Potential inability to adequately control the costs associated with operations and the components necessary to build solid-state battery cells at competitive prices.
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 Q2 2023
-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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