QuantumScape Corp

Listed Company

QSCIK 0001811414NasdaqLarge AcceleratedMiscellaneous Electrical Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-435.05M

Total Assets

$1.31B

Equity

$1.17B

Shares Out

95.45M

Op. Cash Flow

$-242.47M

Business

QuantumScape Corp develops next-generation solid-state lithium-metal battery technology for electric vehicles and other applications. Its core products include a proprietary inorganic ceramic solid-state electrolyte-separator and anode-free multilayer battery cells, exemplified by its QSE-5 prototypes, along with related catholytes and cell architectures and ongoing R&D. The company is organized around a technology licensing business model while retaining options to operate manufacturing, license to partners, or enter joint ventures, and collaborates closely with automotive OEMs and PowerCo/Volkswagen. It targets automotive markets globally and also pursues opportunities in stationary storage and consumer electronics through licensing, customer sampling, pilot production, and partnerships.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	376	383	348	297	151
General and administrative	97	142	131	123	64
Total operating expenses	473	525	479	421	215
Loss from operations	−473	−525	−479	−421	−215
Interest expense	−2	−2	−2	−2	—
Interest income	39	46	36	11	2
Other income (expense)	3	3	−140,000	216,000	151,000
Loss before income taxes	−434	−478	−445	—	—
Income tax (provision) benefit	−2	269,000	−20,000	—	—
Net loss	−435	−478	−445	−412	−46
Less: Net (loss) income attributable to non-controlling interest, net of tax of $0	—	−85,000	66,000	11,000	−11,000
Net loss attributable to common stockholders	−435	−478	−445	−412	−46
Unrealized gain on marketable securities	216,000	3	15	−14	−4
Total comprehensive loss	−435	−475	−430	−426	−50
Less: Comprehensive (loss) income attributable to non-controlling interest	—	−85,000	66,000	11,000	−11,000
Comprehensive loss attributable to common stockholders	−435	−475	−430	−426	−50
Net loss per share - Basic	−0.76	−0.94	−0.96	−0.95	−0.11
Net loss per share - Diluted	−0.76	−0.94	−0.96	−0.95	−0.52
Weighted-average common shares outstanding - Basic	576	508	462	433	404
Weighted-average common shares outstanding - Diluted	576	508	462	433	410

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	231	141	143	235	321
Marketable securities	740	770	928	826	1,127
Prepaid expenses and other current assets	11	12	13	11	16
Total current assets	982	922	1,084	1,072	1,463
Property and equipment, net	251	300	313	296	166
Right-of-use assets - operating lease	34	51	56	61	37
Right-of-use assets - finance lease	19	22	25	28	31
Other assets	22	26	24	18	18
Total assets	1,308	1,322	1,502	1,475	1,716
Accounts payable	12	6	13	21	14
Accrued liabilities	15	17	10	7	6
Accrued compensation and benefits	27	32	26	13	9
Operating lease liability, short-term	5	6	5	3	1
Finance lease liability, short-term	4	3	3	1	19,000
Total current liabilities	62	65	57	47	31
Operating lease liability, long-term	34	53	58	63	37
Finance lease liability, long-term	28	32	35	38	39
Other liabilities	15	15	12	8	315,000
Total liabilities	139	165	162	156	107
Commitment and contingencies (see Note 7)	—	—	—	—	—
Preferred stock- $0.0001 par value; 100,000 shares authorized, none issued and outstanding as of December 31, 2025 and 2024	—	—	—	—	—
Common stock - $0.0001 par value; 1,250,000 shares authorized (1,000,000 Class A and 250,000 Class B); 570,128 Class A and 37,502 Class B shares issued and outstanding as of December 31, 2025, 487,883 Class A and 54,666 Class B shares issued and outstanding as of December 31, 2024	61,000	54,000	49,000	44,000	43,000
Additional paid-in-capital	4,962	4,516	4,222	3,771	3,635
Accumulated other comprehensive loss	644,000	428,000	−3	−18	−4
Accumulated deficit	−3,794	−3,359	−2,881	−2,436	−2,024
Total stockholders equity	1,169	1,158	1,338	1,318	1,607
Total liabilities and stockholders' equity	1,308	1,322	1,502	1,475	1,716

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	66	58	42	28	11
Amortization of right-of-use assets and non-cash lease expense	8	8	8	8	3
Accretion of discounts on marketable securities	−19	−29	−19	4	12
Stock-based compensation expense	128	145	166	127	52
Write-off of property and equipment	27	13	22	14	—
Other	−4	109,000	469,000	840,000	899,000
Prepaid expenses and other current assets and other assets	1	−893,000	−8	5	−5
Accounts payable, accrued liabilities and accrued compensation and benefits	−7	15	−3	6	13
Operating lease liability	−5	−5	−3	−844,000	−1
Other liabilities	−1	−213,000	−234,000	2	—
Net cash used in operating activities	−242	−275	−240	−218	−128
Purchases of property and equipment	−36	−62	−85	−159	−127
Proceeds from maturities of marketable securities	1,126	1,485	1,042	837	894
Proceeds from sales of marketable securities	—	1	1	15	224
Purchases of marketable securities	−1,077	−1,295	−1,111	−570	−1,377
Other	2	116,000	114,000	—	—
Net cash (used in) provided by investing activities	15	129	−153	124	−386
Proceeds from exercise of stock options and employee stock purchase plan	32	20	14	9	18
Proceeds from issuance of common stock	269	131	300	—	463
Principal payment for finance lease	−3	−3	−2	−809,000	6
Cash received under collaboration agreement - related party	20	—	—	—	—
Dissolution of joint venture	—	−2	—	—	—
Net cash provided by financing activities	313	144	300	9	737
Net increase (decrease) in cash, cash equivalents and restricted cash	85	−2	−92	−85	223
Cash paid for interest	2	2	2	2	330,000
Purchases of property and equipment, not yet paid	10	3	11	18	11

Filings

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