QuantumScape Misses On Q2 Earnings: What Investors Need To Know

QuantumScape Corporation QS shares are trading lower in Wednesday's after-hours session on the heels of the company's second-quarter report. Here's a rundown of the results and a look at what's driving the action.

What Happened: QuantumScape reported quarterly losses of 26 cents per share, which missed the analyst consensus estimate of a loss of 20 cents.

The company ended the second quarter with over $900 million in liquidity. Its goal is to continue to look for opportunities to optimize spending and be wise with its strong balance sheet.

The company sees its cash runway extending into the second half of 2025. Any funds raised from capital markets activity, including under an ATM prospectus supplement, would further extend this cash runway, QuantumScape said. 

In a letter to shareholders, the company said, "We are happy to report that we have shipped high cathode-loading unit cells to multiple automotive partners, in line with our development roadmap. This is an important milestone because this level of cathode loading is close to our commercial-intent cathode design for energy-dense cells and represents a significant step toward delivering a commercial product.

"In our view, when combined with the 24-layer capability we have already shown in our A0 prototype cells and other planned improvements, these shipments represent a validation of our ability to achieve industry-leading energy and power performance for our first commercial product."

Related Link: eBay Stock Falls After Q2 Earnings - Here's Why

QS Price Action: QS shares were down 1.85% after hours at $9.20 at the time of publication, according to Benzinga Pro.

Image by Olaf from Pixabay.