Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
QuantumScape (QS) narrowed its net loss to -$435.1M in FY2025 (from -$477.9M), improved operating cash burn by 11.7%, and bolstered cash to $230.5M via $312.8M in financing activities, but remains a pre-revenue, R&D-stage company with no commercial product yet.
EPS (Diluted)
-$0.76
+19.15% YoY
Operating Income
-$472.6M
+10.02% YoY
Source: SEC XBRL
QuantumScape (QS) used $242.47M of cash in operations in FY2025.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | -0.16 | -0.19 | Beat +13.7% |
| Mar 2026 | -0.16 | -0.18 | Beat +12.3% |
| Dec 2025This filing | -0.17 | -0.18 | Beat +4.5% |
| Sep 2025 | -0.18 | -0.21 | Beat +12.6% |
Reported EPS of -$0.17 versus the -$0.18 analyst consensus — a +4.5% beat for Dec 2025.
Compiled by AI from this SEC filing
Operating loss improved 10.0% year-over-year to -$472.6M in FY2025 from -$525.2M in FY2024, suggesting modest cost discipline even as the company remains in the development stage with no commercial revenue.
Source: 10-K Income Statement (XBRL Financial Data)
R&D expense was $375.6M in FY2025, down slightly 1.9% from $383.0M in FY2024, representing the dominant operating cost as QuantumScape continues to develop its solid-state lithium-metal battery technology.
Source: 10-K Income Statement (XBRL Financial Data)
Cash and equivalents surged 63.6% to $230.5M at year-end FY2025, driven by $312.8M in financing cash flows (up 117.2% YoY), which offset the -$242.5M operating cash burn and provided a meaningful liquidity runway.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Basic and diluted EPS improved 19.1% to -$0.76 in FY2025 from -$0.94 in FY2024, reflecting both the smaller net loss and changes in weighted-average shares outstanding.
Source: 10-K Income Statement (XBRL Financial Data)
Current ratio stands at an exceptionally high 15.95x with current assets of $981.6M versus current liabilities of only $61.5M, and debt-to-equity of just 0.12x, indicating the company is not at near-term risk of a liquidity crisis despite ongoing cash burn.
Source: 10-K Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
QuantumScape continues to generate no product revenue and burned -$242.5M in operating cash in FY2025. Without a path to commercialization, the company must repeatedly access capital markets to fund operations, diluting existing shareholders.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Financing activities of $312.8M were the primary source of cash in FY2025, more than doubling year-over-year. This reliance on equity or debt issuance to sustain operations creates significant dilution risk and is contingent on favorable capital market conditions.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Total assets fell 1.1% to $1.31B in FY2025, reflecting the ongoing consumption of capital to fund R&D and operations. If commercialization is delayed further, the asset base will continue to erode.
Source: 10-K Balance Sheet (XBRL Financial Data)
R&D expense of $375.6M in FY2025 underscores the massive investment required to bring solid-state battery technology to market. Any technical setbacks or delays in achieving production-ready cells could extend the loss period indefinitely.
Source: 10-K Income Statement (XBRL Financial Data)
ROE of -37.2% and ROA of -33.3% in FY2025 highlight that the company is destroying value on both an equity and asset basis. These metrics are unlikely to turn positive until commercial-scale production is achieved.
Source: 10-K Key Ratios (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Income $M | -472.60 $M | -525.21 $M | +10.02% |
Net Income $M | -435.05 $M | -477.86 $M | +8.96% |
EPS (Basic) $ | -0.76 $ | -0.94 $ | +19.15% |
EPS (Diluted) $ | -0.76 $ | -0.94 $ | +19.15% |
R&D Expense $M | 375.61 $M | 382.97 $M | -1.92% |
Answers draw on this SEC filing and the data on this page
QuantumScape remained pre-revenue in Q2 FY2026, narrowed its quarterly net loss to $98.2M from $114.7M while ramping its San Jose pilot line, and reported $859.0M of cash, cash equivalents and marketable securities to fund ongoing solid-state battery development. Source: 10-Q Item 2 MD&A, pp.21-26
QuantumScape (QS) narrowed its net loss to -$100.8M in Q1 FY2026 (from -$114.4M a year ago) as R&D spending fell 11.5% YoY, while the company maintains a strong liquidity position with a current ratio above 20x and minimal debt.