QuantumScape reports Q3 EPS (18c), consensus (20c)

The company said, “GAAP operating expenses and GAAP net loss in Q3 were $115.0M and $105.8M, respectively. Adjusted EBITDA loss was $61.4M in Q3, in line with expectations. A table reconciling GAAP net loss and Adjusted EBITDA is available in the financial statement at the end of this shareholder letter. We continue to drive operational efficiency consistent with our capital-light licensing focus and improve our full-year guidance for Adjusted EBITDA loss to $245M – $260M. Capital expenditures in the third quarter were $9.6M. Q3 capex primarily supported facilities and equipment purchases for the Eagle Line. As a result of efficiency gains and process improvements, including from the Cobra process, as well as a change in timing of certain equipment ordering, we revise the range of our full-year capex guidance to $30M – $40M.”