Overview
- The company reported a third-quarter net loss of $105.8 million, improving from $119.6 million a year earlier.
- Operating expenses were $114.9 million, including $92.1 million in R&D, and adjusted EBITDA loss was $61.4 million.
- Shares closed down 12.5% at $13.58 after the report, though the stock also saw intraday gains after an EPS loss of 18 cents beat the 21-cent estimate.
- QuantumScape began shipping Cobra-based QSE-5 B1 samples, with cells being field tested in Ducati’s V21L program, and installation of the automated Eagle Line pilot is underway in San Jose.
- Liquidity totaled roughly $1.0–$1.08 billion, management reiterated runway through 2030, full-year capex guidance was cut to $30–$40 million, and the company will stop runway updates in favor of billings, which were $12.8 million for Q3.