QuantumScape Narrows Q3 Loss to $84.5M, Taps Muehlbauer for 100-MWh Line
QS is trading near its 52-week low of $3.8 (14% above the low).
Summary
QuantumScape posted a Q3 net loss of $84.5M, or $0.14 a share, better than the $0.18 loss a year earlier and the -$0.17 analysts expected. Adjusted EBITDA loss was $60.7M with $9.8M in customer billings, and the company ended the quarter with $819.8M in liquidity while reaffirming full-year adjusted EBITDA loss guidance of $250M-$275M and capex of $27M-$37M. Alongside the numbers it named Germany's Muehlbauer Group as partner on a 100-MWh cell production line targeted for 2028 — the first commercial-scale mass production of QS cells, aimed at the QSDC and QSAS verticals. The automotive side showed first billings under the Honda partnership plus a new agreement with another mobility manufacturer, and the QS PowerBlock storage design tested at four times the power density and five times the runtime of a conventional lithium-ion reference. Shares rose 8% premarket. Further detail on the next-gen technology and automotive partnerships is due at the Solid-State Battery Symposium on November 11 in Kyoto.
At the time of this announcement, QS was trading at $4.32 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $3.80 to $18.56. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.