QuantumScape soars on revised adjusted EBITDA guidance

QuantumScape (NYSE:QS [https://seekingalpha.com/symbol/QS]) surged 15% in premarket trading Thursday after reporting a smaller-than-expected Q3 loss and raising its full-year adjusted EBITDA guidance.

The solid-state battery maker posted a GAAP loss of $0.18 per share, beating analyst expectations [https://seekingalpha.com/news/4507106-quantumscape-gaap-eps-of-0_18-beats-by-0_02] of a $0.20 loss. Adjusted EBITDA loss came in at $61.4 million, in line with company projections.

QuantumScape (NYSE:QS [https://seekingalpha.com/symbol/QS]) narrowed its full-year adjusted EBITDA loss guidance to $245 million–$260 million from $250 million–$270 million previously, citing continued progress on operational efficiencies tied to its capital-light licensing model.

Q3 also marked a milestone quarter for the company, with over $12 million in customer billings, showcasing early results from its capital-light development and licensing strategy.

Operating expenses declined to $115 million from $130.2 million a year earlier, while capital expenditures were $9.6 million, focused on Eagle Line facilities and equipment purchases. The company also lowered its full-year capex outlook to $30 million–$40 million.

QuantumScape (QS [https://seekingalpha.com/symbol/QS]) ended the quarter with $1.0 billion in liquidity and now projects its cash runway to extend through the end of the decade, a 12-month extension from its previous guidance of into 2029.

MORE ON QUANTUMSCAPE

* QuantumScape Corporation 2025 Q3 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4832212-quantumscape-corporation-2025-q3-results-earnings-call-presentation]
* QuantumScape Corporation (QS) Q3 2025 Earnings Call Transcript [https://seekingalpha.com/article/4832115-quantumscape-corporation-qs-q3-2025-earnings-call-transcript]
* QuantumScape: De-Risked Ascent Begins (Rating Upgrade) [https://seekingalpha.com/article/4829115-quantumscape-de-risked-ascent-begins-rating-upgrade]
* QuantumScape signals 12-month cash runway extension and $12.8M in Q3 customer billings while expanding ecosystem partnerships [https://seekingalpha.com/news/4507242-quantumscape-signals-12-month-cash-runway-extension-and-12_8m-in-q3-customer-billings-while]
* QuantumScape Q3 Earnings Preview: What to expect? [https://seekingalpha.com/news/4505302-quantumscape-q3-earnings-preview-what-to-expect]