QuantumScape Reports Major Milestones in 2025 Earnings Call
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy QS?
Source: seekingalpha
- Financial Overview: QuantumScape reported GAAP operating expenses of $472.6 million and a net loss of $435.1 million for 2025, with Q4 operating expenses at $110.5 million and a net loss of $100.1 million, reflecting the company's efforts in cost control.
- Technological Advancements and Partnerships: The successful integration of the Cobra process and shipment of Cobra-based QSE-5 cells, along with expanded collaboration with PowerCo and the addition of two global automotive OEM customers, signify increased market recognition in battery technology.
- Future Outlook and Goals: Management outlined four key objectives for 2026, including demonstrating scalable production on the Eagle Line, advancing automotive commercialization, expanding into new high-value markets, and pushing technology beyond the QSE-5 platform, showcasing confidence in future growth.
- Capital Expenditures and Liquidity: Expected capital expenditures for 2026 are between $40 million and $60 million, with year-end liquidity standing at $970.8 million in 2025, indicating sufficient funding for technology development and market expansion.
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Analyst Views on QS
Wall Street analysts forecast QS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QS is 11.29 USD with a low forecast of 2.50 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
0 Buy
6 Hold
2 Sell
Hold
Current: 8.940
Low
2.50
Averages
11.29
High
16.00
Current: 8.940
Low
2.50
Averages
11.29
High
16.00
About QS
QuantumScape Corporation is developing solid-state lithium-metal battery technology for electric vehicles (EVs) and other applications. The Company’s solid-state lithium-metal battery technology is designed to offer energy density, faster charging, and enhanced safety. Its battery cells have none of the host materials used in conventional anodes. The Company's cells are anode-free in that they are manufactured without anodes in a discharged state. It has demonstrated a solid-state separator for lithium-metal batteries capable of resisting dendrite formation at higher power densities, such as those required for automotive applications and fast charging, for at least 800 cycles at around 25 degrees Celsius. The Company's solid-state electrolyte-separator is a dense, entirely inorganic ceramic. The Company's solid-state battery technology has applicability in other markets, including stationary storage and consumer electronics, such as smartphones and wearables, among others.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Beat: QuantumScape reported a Q4 loss of $0.17 per share, surpassing estimates of a $0.18 loss, indicating improved financial management that may bolster investor confidence.
- Capital Expenditures: The company incurred $12.3 million in capital expenditures in Q4, totaling $36.3 million for 2025, reflecting ongoing investments in technology development and production capacity aimed at enhancing future market competitiveness.
- Customer Billings Growth: Customer billings reached $19.5 million in 2025, showcasing positive developments in customer base and market demand, potentially laying the groundwork for future revenue growth.
- Future Strategic Goals: QuantumScape has set goals for 2026 focused on demonstrating scalable production of its solid-state battery technology while collaborating closely with global automakers, indicating the company's long-term growth potential in battery technology.
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- QuantumScape Earnings Impact: QuantumScape's stock declined 1.34% to $8.82, even though it reported a narrower-than-expected fourth-quarter loss, with shares plummeting nearly 10.5% in after-hours trading, indicating investor caution regarding its future prospects.
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- Financial Overview: QuantumScape reported GAAP operating expenses of $472.6 million and a net loss of $435.1 million for 2025, with Q4 operating expenses at $110.5 million and a net loss of $100.1 million, reflecting the company's efforts in cost control.
- Technological Advancements and Partnerships: The successful integration of the Cobra process and shipment of Cobra-based QSE-5 cells, along with expanded collaboration with PowerCo and the addition of two global automotive OEM customers, signify increased market recognition in battery technology.
- Future Outlook and Goals: Management outlined four key objectives for 2026, including demonstrating scalable production on the Eagle Line, advancing automotive commercialization, expanding into new high-value markets, and pushing technology beyond the QSE-5 platform, showcasing confidence in future growth.
- Capital Expenditures and Liquidity: Expected capital expenditures for 2026 are between $40 million and $60 million, with year-end liquidity standing at $970.8 million in 2025, indicating sufficient funding for technology development and market expansion.
See More
- Quarterly Performance Overview: QuantumScape's latest quarterly results revealed a narrowed loss per share of $0.17, improving from $0.22 in the previous quarter, although the absence of revenue from its core business highlights ongoing profitability challenges.
- Investment Plan Adjustment: The company plans to increase capital expenditures in 2026 to between $40 million and $60 million, up from $36.3 million in 2025, indicating a commitment to scaling production of solid-state batteries, yet lacking clear revenue guidance.
- Customer Billing Situation: QuantumScape's inaugural customer billings totaled $19.5 million in 2025, which, while not equivalent to actual revenue, reflects potential future cash inflows and indicates initial market progress for the company.
- Uncertain Market Outlook: Despite setting “ambitious goals” to bring its revolutionary technology to market, the lack of revenue guidance for FY26 or new OEM partnerships has led to diminished market confidence in its future growth prospects.
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