Summary by Moomoo AI
QuantumScape Corporation, a company specializing in the development of solid-state lithium-metal battery technology, has completed and filed its annual report for the fiscal year ending December 31, 2023. The report disclosed a net loss of $445.1 million for the year, with an accumulated deficit of $2.9 billion since the company's inception. Despite the losses, QuantumScape reported having $1.1 billion in cash, cash equivalents, and marketable securities. Research and development expenses rose to $347.9 million, reflecting the company's efforts to advance prototype cells and scale up its pre-pilot production line, QS-0. General and administrative expenses also saw an increase to $131.1 million. The company successfully raised $288.2 million in net proceeds from a public offering in August 2023 and anticipates that its current cash resources...Show More