QS Earnings: QuantumScape Stock Drops Despite Beating Q2 Estimates
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Further, the company ended Q2 with $797.5 million in liquidity, maintaining a cash runway into 2029.
In a major update, QuantumScape said it has achieved its first annual goal by switching to its new Cobra process for making battery separators, replacing the older Raptor method. This upgrade is expected to allow the company to start shipping B1 samples later this year.
QS Expands PowerCo Deal
QuantumScape has expanded its collaboration and licensing agreement with Volkswagen Group's (VWAGY) battery subsidiary, PowerCo. Under the upgraded deal, PowerCo will provide up to $131 million in additional milestone-based payments over the next two years to support joint commercialization efforts.
As part of the expanded agreement, PowerCo gains the right to produce up to an additional 5 GWh of QuantumScape cells annually, bringing its total potential to 85 GWh. The deal also gives PowerCo future rights to license advanced QuantumScape technology beyond the first-generation QSE-5 platform.
QS Narrows Down 2025 Outlook
Looking ahead, the company narrowed down the range of its full-year capex guidance to between $45 million and $65 million. Also, the range for adjusted EBITDA loss was narrowed between $250 million and $270 million.
Is QS Stock a Good Buy?
QS stock price target implies a 45.44% downside potential.
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