QuantumScape’s (QS) stock is up 10% after the battery maker reported financial results that beat Wall Street’s forecasts.
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The San Jose, California-based company that makes lithium-based batteries for electric vehicles reported an earnings per share (EPS) loss of -$0.18, which was two cents better than the consensus estimate of a -$0.20 loss.
The company also reported revenue for the third quarter of $12.8 million, which was ahead of the $10 million expected on Wall Street. QuantumScape said that its capital expenditures in the third quarter totaled $9.6 million, with most of that money being spent on facilities and equipment purchases.
QuantumScape’s income statement. Source: Main Street Data
Cash Position
Management at QuantumScape said that they ended Q3 with $1 billion of cash and forecast that the company’s cash runway will extend through the end of this decade. However, going forward, the company said that they plan to move away from providing updates on the cash position and focus instead on customer billings.
The post-earnings rally in QS stock continues a strong bull run for the stock. So far in 2025, QuantumScape’s stock has risen 162% as investors bet on the company’s role in the electric vehicle transition. Management says they are getting closer to commercial sales of their batteries.
Is QS Stock a Buy?
QuantumScape’s stock has a consensus Hold rating among four Wall Street analysts. That rating is based on one Buy, two Hold, and one Sell recommendations issued in the last three months. The average QS price target of $9 implies 33.73% downside from current levels. These ratings could change after the company’s financial results.
