$QS

QuantumScape Corp

CIK:0001811414|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 82,533	$ 101,177	$ 167,103	$ 196,766
General and administrative	23,594	22,409	48,203	50,395
Total operating expenses	106,127	123,586	215,306	247,161
Loss from operations	(106,127)	(123,586)	(215,306)	(247,161)
Other income (expense):
Interest expense	(466)	(516)	(944)	(1,044)
Interest income	8,355	8,940	17,245	18,709
Other income (expense)	191	288	166	368
Loss before income taxes	(98,047)	(114,874)	(198,839)	(229,128)
Income tax (provision) benefit	(193)	176	(200)	7
Net loss	(98,240)	(114,698)	(199,039)	(229,121)
Other comprehensive income (loss):
Unrealized loss on marketable securities	(610)	(213)	(1,638)	(541)
Total comprehensive loss	$ (98,850)	$ (114,911)	$ (200,677)	$ (229,662)
Net loss per share - Basic	$ (0.16)	$ (0.2)	$ (0.32)	$ (0.41)
Net loss per share - Diluted	$ (0.16)	$ (0.2)	$ (0.32)	$ (0.41)
Weighted-average common shares outstanding - Basic	617,077	561,698	614,062	554,890
Weighted-average common shares outstanding - Diluted	617,077	561,698	614,062	554,890

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (199,039)	$ (229,121)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	28,148	37,805
Amortization of right-of-use assets and non-cash lease expense	5,132	4,114
Accretion of discounts on marketable securities	(8,254)	(9,113)
Stock-based compensation expense	57,834	66,894
Write-off of property and equipment	1,857	14,888
Other	(232)	(279)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets and other assets	814	3,108
Accounts payable, accrued liabilities and accrued compensation and benefits	(111)	(6,860)
Operating lease liability and other liabilities	(2,408)	(4,025)
Net cash used in operating activities	(116,259)	(122,589)
Investing activities
Purchases of property and equipment	(14,598)	(14,421)
Proceeds from maturities of marketable securities	514,243	537,564
Purchases of marketable securities	(493,466)	(384,132)
Other	220	278
Net cash provided by investing activities	6,399	139,289
Financing activities
Proceeds from exercise of stock options and employee stock purchase plan	3,607	15,659
Proceeds from issuance of common stock	0	1,033
Common stock issuance costs paid	0	(227)
Principal payment for finance lease	(1,752)	(1,580)
Cash received under collaboration agreement - related party	10,353	0
Net cash provided by financing activities	12,208	14,885
Net (decrease) increase in cash, cash equivalents and restricted cash	(97,652)	31,585
Cash, cash equivalents and restricted cash at beginning of period	244,179	158,914
Cash, cash equivalents and restricted cash at end of period	146,527	190,499
Supplemental disclosure:
Cash paid for interest	944	1,044
Purchases of property and equipment, not yet paid	$ 2,828	$ 7,051

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 132,872	$ 230,524
Marketable securities	726,130	740,283
Prepaid expenses and other current assets	10,083	10,835
Total current assets	869,085	981,642
Property and equipment, net	229,435	251,449
Right-of-use assets - operating lease	32,094	34,078
Right-of-use assets - finance lease	22,451	19,394
Other assets	15,680	21,593
Total assets	1,168,745	1,308,156
Current liabilities
Accounts payable	6,336	11,819
Accrued liabilities	14,961	14,521
Accrued compensation and benefits	17,153	26,969
Operating lease liability, short-term	4,963	4,653
Finance lease liability, short-term	3,768	3,584
Total current liabilities	47,181	61,546
Operating lease liability, long-term	32,043	34,481
Finance lease liability, long-term	26,344	28,282
Other liabilities	15,205	14,874
Total liabilities	120,773	139,183
Commitment and contingencies (see Note 7)
Stockholders’ equity
Preferred stock- $0.0001 par value; 100,000 shares authorized, none issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock - $0.0001 par value; 1,250,000 shares authorized (1,000,000 Class A and 250,000 Class B); 587,077 Class A and 32,032 Class B shares issued and outstanding as of June 30, 2026, 570,128 Class A and 37,502 Class B shares issued and outstanding as of December 31, 2025	62	61
Additional paid-in-capital	5,041,507	4,961,832
Accumulated other comprehensive income	(994)	644
Accumulated deficit	(3,992,603)	(3,793,564)
Total stockholders’ equity	1,047,972	1,168,973
Total liabilities and stockholders' equity	$ 1,168,745	$ 1,308,156