Quantumscape Corporation (QS)
NASDAQ:QS
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QuantumScape
(NASDAQ:QS)
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Rating:50Neutral
Price Target:
$7.50
▲(5.63% Upside)
Action:ReiteratedDate:04/23/26
QS scores low-to-mid overall primarily due to very weak financial performance (no GAAP revenue, large ongoing losses, and heavy cash burn). Offsetting this are improving near-term technical momentum and a relatively constructive earnings-call backdrop highlighting operational milestones and strong liquidity, though valuation support remains limited given continued losses.
Positive Factors
Strong Liquidity / Runway
A cash buffer of ~$905M provides durable runway to fund cell development, Eagle Line ramp, and partner qualifications over the next several quarters. This reduces near-term financing pressure, supports iterative engineering, and preserves optionality for strategic partnerships or licensing deals.
Negative Factors
Pre-revenue with Negative Gross Profit
Persisting zero GAAP revenue and negative gross profit indicate the technology has yet to generate recurring commercial sales. This structural absence of revenue makes the business dependent on financing and partner milestones, leaving profitability and unit economics unproven.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Liquidity / Runway
A cash buffer of ~$905M provides durable runway to fund cell development, Eagle Line ramp, and partner qualifications over the next several quarters. This reduces near-term financing pressure, supports iterative engineering, and preserves optionality for strategic partnerships or licensing deals.
Read all positive factors
QuantumScape (QS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.48B
Dividend YieldN/A
Average Volume (3M)9.60M
Price to Earnings (P/E)―
Beta (1Y)2.16
Revenue GrowthN/A
EPS Growth21.23%
CountryUS
Employees800
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.16
Shares Outstanding578,338,440
10 Day Avg. Volume11,312,329
30 Day Avg. Volume9,596,239
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 Cap0.92
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-64.50
Enterprise Value/Ebitda-11.30
Forecast
1Y Price Target
$10.83Price Target Upside52.58% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.7
Revenue Forecast (FY)$55.96K
QuantumScape Business Overview & Revenue Model
Company Description
QuantumScape Corporation, together with its subsidiaries, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications in the United States. The company was founded in 2010 an...
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
Positive
7.10
Price Trends
6.98
Positive
9.00
Negative
10.43
Negative
Market Momentum
-0.05
Negative
56.43
Neutral
76.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QS, the sentiment is Positive. The current price of 7.1 is above the 20-day moving average (MA) of 6.55, above the 50-day MA of 6.98, and below the 200-day MA of 10.43, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 56.43 is Neutral, neither overbought nor oversold. The STOCH value of 76.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.31B | 26.95 | 19.69% | ― | 13.27% | 12.53% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $1.45B | -10.09 | -62.42% | ― | 37.91% | 40.36% | |
51 Neutral | $761.00M | -7.26 | -23.87% | ― | 7.98% | 6.11% | |
50 Neutral | $4.48B | -9.67 | -37.30% | ― | ― | 21.23% | |
49 Neutral | $387.75M | -6.62 | -32.48% | ― | 179.82% | 26.84% | |
48 Neutral | $143.75M | -2.52 | -73.64% | ― | 127.00% | 40.53% |
* Consumer Cyclical Sector Average
QS
QuantumScape
7.29
3.30
82.71%
XPEL
XPEL
47.62
17.75
59.42%
INVZ
Innoviz Technologies
0.67
-0.08
-10.67%
ENVX
Enovix
6.67
0.32
5.04%
SES
SES AI Corporation Class A
1.05
0.23
28.05%
SLDP
Solid Power
3.45
2.34
210.81%
QuantumScape Corporate Events
Business Operations and StrategyExecutive/Board Changes
QuantumScape Adds Defense Veteran Ross Niebergall to Board
Positive
Mar 5, 2026
On March 4, 2026, QuantumScape appointed defense-sector veteran Ross Niebergall to its board of directors for a term running until the company’s next annual shareholder meeting, adding deep aerospace and defense RD and commercialization expe...
Executive/Board Changes
QuantumScape Co-Founder Fritz Prinz Retires From Board
Neutral
Feb 10, 2026
On February 4, 2026, QuantumScape Corporation announced that Prof. Dr. Fritz Prinz, a co-founder who has served on the board of directors since the company’s founding in 2010, retired from the board effective that same day. The company state...
Business Operations and StrategyExecutive/Board Changes
QuantumScape Adds Veteran Finance Executive to Board
Positive
Jan 30, 2026
On January 29, 2026, QuantumScape Corporation appointed veteran finance and technology executive Geoffrey Ribar to its Board of Directors for a term expiring at the company’s next annual meeting of stockholders, with no committee assignments...
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.