QuantumScape Corporation (NYSE:QS) reported its first-quarter financial results after the bell Wednesday. Here's a look at the details.
The Details: QuantumScape reported quarterly losses of 24 cents per share which met the analyst consensus estimate and was unchanged from the same period last year.
The company ended the first quarter with $1.01 billion in liquidity and expects its cash runway to extend into the second half of 2026.
"We remain tightly focused on a singular goal: bringing our first commercial solid-state lithium-metal
battery cell to market for electric vehicle applications. Achieving this ambitious goal requires three
major elements: differentiated technology, close customer engagement and methodical execution of
our milestones," said QuantumScape CEO Dr. Siva Sivaram.
Outlook: The company maintained its full-year 2024 guidance for capital expenditures to be between $70 million and $120 million and for adjusted EBITDA loss to be between $250 million and $300 million.
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QS Price Action: According to Benzinga Pro, QuantumScape shares are down 2.55% after-hours at $5.34 at the time of publication Wednesday.
Image: Courtesy of QuantumScape Corporation