NASDAQ$QS
QuantumScape Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
QuantumScape reported progress in customer prototype testing, manufacturing scale up, and strategic outlook.
QuantumScape reported progress in customer prototype testing, highlighting a top-performing A0 prototype cell achieving over 1,000 full cycle equivalents with over 95% discharge energy retention. The company is focused on QSE-5 development and collaborating with a prospective automotive launch customer. They ended Q3 with over $1.1B in liquidity and forecast their cash runway will extend into 2026.
- Top-performing A0 prototype cell achieved over 1,000 full cycle equivalents with over 95% discharge energy retention.
- Collaborating with a prospective launch customer in the automotive sector for QSE-5.
- Entered into a technology evaluation agreement with a leading global consumer electronics player.
- Process qualification of Raptor equipment began on schedule.
Headline financials
Revenue & EPS history
QuantumScape · Revenue · Quarterly
$0
Forward guidance
QuantumScape maintains its full-year 2023 guidance on cash operating expenses of $225M to $275M and revises its capex guidance to $75M to $100M. The company continues to target low-volume B samples in 2024 off our Raptor process and higher-volume B samples in 2025 off our Cobra process. They now forecast that their cash runway will extend into 2026.
Tailwinds
- Targeting low-volume B samples in 2024 off Raptor process.
- Targeting higher-volume B samples in 2025 off Cobra process.
- Cash runway extended into 2026.
- Focus on process and defect control.
- Focus on equipment and data automation.
Headwinds
- Significant challenges remain in producing cells in large volumes with high quality and reliability.
- The company faces significant challenges in its attempts to develop a solid-state battery cell and produce it at high volumes.
- The Company could encounter significant delays and/or technical challenges in replicating the performance seen in its single-layer and early multilayer cells.
- The Company has encountered delays and other obstacles in acquiring, installing and operating new manufacturing equipment for automated and/or continuous-flow processes.
- Delays or difficulties in meeting technical milestones or scaling up QS-0 could cause prospective customers and joint venture 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 Q3 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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