Fri, Apr 25, 8:11 PM (16 days ago)
**QuantumScape Corporation (QS) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** No revenue reported; company is pre-revenue. - **Net Loss:** $114.4 million, a slight improvement from $120.6 million in Q1 2024. - **Operating Expenses:** $123.6 million, with R&D at $95.6 million and G&A at $28.0 million. - **Cash Position:** $860.3 million in cash and cash equivalents, down from $910.8 million in Q4 2024. **Key Trends & Uncertainties:** - **Product Development:** Focus on solid-state lithium-metal batteries; shipped B-sample cells for testing. - **Market Focus:** Collaboration with PowerCo for commercialization; agreements with multiple OEMs. - **Access to Capital:** Expect cash resources to last into 2028; ATM offering and potential equity financing. **Quarterly Performance Discussion:** - **R&D Expense Increase:** Due to depreciation and stock-based compensation. - **G&A Decrease:** Due to settlement of litigation accruals and changes in legal matters. - **Interest Income Decrease:** Due to lower interest rates. **Future Operations Impact:** - **Technology Development:** Continued investment in R&D and manufacturing. - **Operating Costs:** Expect significant expenses and losses; reliance on equity financing. - **Scale-Up:** Dependence on PowerCo collaboration and potential licensing agreements. **Profit Margins & Cash Flow:** - **Profit Margins:** Negative due to high operating expenses and no revenue. - **Cash Flow:** Negative operating cash flow of $60.7 million, offset by investing activities of $62.0 million. **Earnings Changes:** - **Earnings Per Share:** Basic and diluted net loss per share of $0.21, improved from $0.24 in Q1 2024. **Quarterly Performance Discussion:** - **Operating Expenses:** Increase in R&D due to depreciation and stock-based compensation; decrease in G&A due to litigation settlements. - **Other Income (Expense):** Decrease in interest income due to lower interest rates. **Trends & Uncertainties:** - **Product Development:** Challenges in scaling manufacturing and meeting customer specifications. - **Market Focus:** Dependence on automotive OEMs and PowerCo collaboration. - **Access to Capital:** Potential need for additional equity financing due to high operating costs. **Future Operations Impact:** - **Technology Development:** Continued investment in R&D and manufacturing. - **Operating Costs:** Expect significant expenses and losses; reliance on equity financing. - **Scale-Up:** Dependence on PowerCo collaboration and potential licensing agreements.