The following is a summary of the QuantumScape Corporation (QS) Q1 2024 Earnings Call Transcript:
Financial Performance:
QuantumScape reported Q1 2024 CapEx of $14.1 million and expects an annual figure between $70 million and $120 million.
GAAP operating expenses and GAAP net loss noted at $131.9 million and $120.6 million, respectively. Forecasted adjusted EBITDA loss for 2024 sits between $250 million and $300 million.
Ended the quarter with a strong liquidity position of $1.01 billion, projected to sustain until the second half of 2026.
Business Progress:
Commenced shipments of six-layer Alpha-2 prototype battery cells to automotive customers, first of four main objectives for 2024 achieved.
Confirmed enhanced performance of Alpha-2 prototype, highlighting its capability for fast charging and impressive energy density in varying temperatures.
Initiated the large-scale Cobra process targeting higher volumes of QSE-5 prototype production in 2025.
Focused on refining assembly processes and boosting cell production.
Progress seen in Raptor and Cobra, which suggests increased throughput and improved equipment footprint per unit output.
Remains consistently engaged with customers and maintaining their interest despite short-term market challenges.
More details: QuantumScape IR
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