QuantumScape 10-Q: Q3 Loss Narrows to $84.5M; PowerCo Payments Paused for Renegotiation
QS is trading near its 52-week low of $3.8 (6.1% above the low).
Summary
QuantumScape's Q3 10-Q shows an $84.5 million net loss and $819.8 million in cash and marketable securities, alongside a new PowerCo amendment that cancels $7.0 million of transition payments and pauses milestone payments during renegotiation.
Key Events · Earnings and Guidance · QS
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Q3 Loss Narrows to $84.5M
Net loss was $84.5 million, or $0.14 per share, versus $105.8 million ($0.18) a year earlier; nine-month net loss was $283.5 million.
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Cash Falls to $819.8M
Cash and marketable securities were $819.8 million at September 30, 2026, down from $970.8 million at December 31, 2025, with nine-month operating cash use of $171.3 million.
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PowerCo Payments Paused
The October 21, 2026 Second Amendment removes $7.0 million of transition payments and halts milestone payments while the parties negotiate a revised scope of work, including data centers and robotics.
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PSU Reversals Cut Compensation Expense
Management reversed $8.1 million of previously recognized expense in Q3 ($9.6 million year-to-date) for Milestone PSUs deemed not probable of achievement.
Analysis · QS · Manufacturing
The quarter itself was already public, but the 10-Q confirms the cash picture and the PowerCo reset. Cash and marketable securities stand at $819.8 million, down from $970.8 million at year-end 2025, against a nine-month operating burn of $171.3 million — roughly four to five years of runway at the current pace, so there is no near-term financing pressure. The bigger change is the October 21 PowerCo amendment: $7.0 million of transition payments are removed and milestone payments stop while the two sides negotiate a new scope of work covering next-generation technology and non-automotive uses like data centers and robotics. PowerCo is the only signed path to commercializing the technology, so a pause in payments and a reopened scope is a real execution risk, even if the relationship continues.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.2% of the 1549 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.17%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, QS was trading at $4.03 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $3.80 to $18.56. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.