Quantumscape Corporation (QS)
NASDAQ:QS
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QuantumScape
(NASDAQ:QS)
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Rating:54Neutral
Price Target:
$9.50
▲(25.50% Upside)
Action:Reiterated
Date:06/06/26
Overall score reflects very weak financial performance (pre-revenue profile, large losses and cash burn) partially balanced by constructive near-term technical momentum and a cautiously positive earnings-call outlook driven by operational milestones and strong liquidity. Valuation remains a headwind due to negative earnings and no dividend support.
Positive Factors
Strong liquidity
A cash runway of ~$905M provides durable financing to fund R&D, Eagle Line ramp and initial commercialization efforts over the next 2–6 months, materially lowering immediate refinancing risk and enabling continued execution on product and partner milestones before large-scale revenue is required.
Negative Factors
Pre-commercial losses
Persistent, large GAAP losses with effectively no recurring product revenue mean the business remains pre-commercial. Over the medium term this erodes shareholder value and requires continued capital or rapid commercialization to reverse losses; profitability remains unproven absent sustained product sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity
A cash runway of ~$905M provides durable financing to fund R&D, Eagle Line ramp and initial commercialization efforts over the next 2–6 months, materially lowering immediate refinancing risk and enabling continued execution on product and partner milestones before large-scale revenue is required.
Read all positive factors
QuantumScape (QS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.71B
Dividend YieldN/A
Average Volume (3M)26.26M
Price to Earnings (P/E)―
Beta (1Y)2.26
Revenue GrowthN/A
EPS Growth21.23%
CountryUS
Employees800
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.71
Shares Outstanding578,338,440
10 Day Avg. Volume24,906,598
30 Day Avg. Volume26,264,980
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)5.13
Price to Sales (P/S)0.00
P/FCF Ratio-21.53
Enterprise Value/Market Cap1.16
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-85.41
Enterprise Value/Ebitda-14.96
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-0.68
Revenue Forecast (FY)$55.96K
QuantumScape Business Overview & Revenue Model
Company Description
QuantumScape Corporation, along with its affiliated entities, specializes in the advancement and market launch of innovative solid-state lithium-metal batteries. These cutting-edge power solutions are primarily engineered for electric vehicles (EV...
How the Company Makes Money
QuantumScape is primarily in a pre-commercial stage and, as a result, does not generate material recurring revenue from large-scale battery sales. When revenue is recorded, it has historically been associated with activities typical of a developme...
QuantumScape Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call communicated multiple clear technical and commercial milestones — Eagle Line installation and initial QSE-5 production, AI-enabled quality improvements, first ecosystem billings, advancing OEM engagements and strong liquidity — which indicate meaningful progress toward commercialization. At the same time, the company remains early in monetization: Q1 billings are small relative to substantial GAAP losses and ramp/partner scale-up risks remain. On balance, the transcript conveys cautious optimism driven by operational momentum and ample liquidity but acknowledges significant near-term execution and financial challenges.Positive Updates
Eagle Line Installation and Initial Production
Completed installation of the Eagle Line and commenced start-up operations in Q1; producing initial volumes of QSE-5 cells with plan to ramp production in Q2. Integrated advanced AI models into Eagle Line operations and reported substantive progress on cell quality and reliability.
Negative Updates
Large GAAP Losses and Continued Negative Adjusted EBITDA
GAAP operating expenses were $109.2 million and GAAP net loss was $100.8 million in Q1; adjusted EBITDA loss was $63.2 million in Q1 and full-year adjusted EBITDA loss guidance remains $250M–$275M, indicating continued significant operating losses while commercialization scales.
Read all updates
Q1-2026 Updates
Positive
Negative
Eagle Line Installation and Initial Production
Completed installation of the Eagle Line and commenced start-up operations in Q1; producing initial volumes of QSE-5 cells with plan to ramp production in Q2. Integrated advanced AI models into Eagle Line operations and reported substantive progress on cell quality and reliability.
Read all positive updates
Company Guidance
QuantumScape reiterated detailed financial and operational guidance: in Q1 GAAP operating expenses were $109.2M, GAAP net loss $100.8M and adjusted EBITDA loss $63.2M (in line with expectations), and for full-year 2026 management reiterated adjusted EBITDA loss guidance of $250M–$275M; Q1 capital expenditures were $10M with full-year CapEx guidance of $40M–$60M, and ending liquidity was $904.7M. Operationally, customer billings were $11M in Q1 (FY2025 billings were ~$19.5M) and the company reiterated it expects year‑over‑year billings growth in 2026; Q1 also recorded the first ecosystem partner billings, the Eagle Line installation was completed with initial QSE‑5 cell production in Q1 and a planned ramp in Q2, and PowerCo has ~5 GWh of capacity to serve markets beyond automotive.QuantumScape Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -63.79M | -73.22M | -57.78M | -41.96M | -36.12M | -14.70M |
| EBITDA | -364.16M | -358.25M | -417.94M | -400.74M | -373.37M | -29.86M |
| Net Income | -421.43M | -435.05M | -477.86M | -445.14M | -411.91M | -45.97M |
Balance Sheet | ||||||
| Total Assets | 1.23B | 1.31B | 1.32B | 1.50B | 1.48B | 1.72B |
| Cash, Cash Equivalents and Short-Term Investments | 904.70M | 970.81M | 910.77M | 1.07B | 1.06B | 1.45B |
| Total Debt | 69.18M | 71.00M | 93.54M | 100.63M | 105.42M | 77.37M |
| Total Liabilities | 119.42M | 139.18M | 164.55M | 161.80M | 155.86M | 107.06M |
| Stockholders Equity | 1.11B | 1.17B | 1.16B | 1.34B | 1.32B | 1.61B |
Cash Flow | ||||||
| Free Cash Flow | -281.66M | -278.75M | -336.69M | -324.54M | -376.87M | -255.09M |
| Operating Cash Flow | -241.24M | -242.47M | -274.56M | -240.03M | -218.02M | -127.91M |
| Investing Cash Flow | -72.79M | 14.93M | 128.87M | -152.53M | 124.12M | -385.83M |
| Financing Cash Flow | 301.14M | 312.81M | 144.03M | 300.21M | 8.60M | 736.56M |
QuantumScape Technical Analysis
Negative
7.57
Price Trends
7.49
Positive
7.75
Negative
10.11
Negative
Market Momentum
0.24
Positive
44.30
Neutral
26.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QS, the sentiment is Negative. The current price of 7.57 is below the 20-day moving average (MA) of 8.41, above the 50-day MA of 7.49, and below the 200-day MA of 10.11, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 44.30 is Neutral, neither overbought nor oversold. The STOCH value of 26.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QS.
QuantumScape Risk Analysis
QuantumScape disclosed 54 risk factors in its most recent earnings report. QuantumScape reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
QuantumScape Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.24B | 23.36 | 19.39% | ― | 12.82% | 11.76% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $413.60M | -5.13 | -32.48% | ― | 179.82% | 26.84% | |
55 Neutral | $1.60B | -9.28 | -0.28% | ― | 49.88% | 27.54% | |
54 Neutral | $4.71B | -11.11 | -37.30% | ― | ― | 21.23% | |
51 Neutral | $145.02M | -1.79 | -101.64% | ― | 29.57% | 13.83% | |
50 Neutral | $664.83M | >-0.01 | -21.56% | ― | -6.92% | 4.50% |
* Consumer Cyclical Sector Average
QS
QuantumScape
7.66
3.31
76.09%
XPEL
XPEL
44.87
7.31
19.45%
INVZ
Innoviz Technologies
0.68
-0.25
-27.16%
ENVX
Enovix
7.32
-1.27
-14.78%
SES
SES AI Corporation Class A
1.12
0.07
6.67%
SLDP
Solid Power
2.96
1.39
88.22%
QuantumScape Corporate Events
Executive/Board ChangesShareholder Meetings
QuantumScape Stockholders Approve Proposals at 2026 Annual Meeting
Positive
Jun 5, 2026
QuantumScape held its 2026 Annual Meeting of Stockholders on June 3, 2026, with holders of Class A and Class B common stock representing 76.8% of the company’s voting power present, thereby constituting a quorum. Stockholders voted as a sing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.