QuantumScape Q1 net loss $104.6M; technical progress on high-loading cathodes and customer testing

QuantumScape Corp

2023-Q1 EPS reported -$0.24

Net loss $104.6M ($0.24/share) vs $90.4M ($0.21) in Q1 2022; operating expenses $110M.
Cash operating expenses $63M; capex $28M; liquidity over $1B; FY2023 guidance reaffirmed.
24-layer A0 prototype testing complete at automotive customer; capacity loss <1% per 100 cycles; reliability improvements underway.
Demonstrated two-layer unit cells with >5 mAh/cm2 cathode loading cycling at 1C for >800 cycles at room temperature.
First commercial product target: 24-layer ~5 Ah cell; fast separator production first stage installation underway.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

QuantumScape Corp reported financial results for first quarter of 2023, which ended March 31.

Period: first quarter of 2023, which ended March 31
Result: reported results

Exact text from the filing

On April 26, 2023, QuantumScape Corporation (the “Company”) announced its business and financial results for its first quarter of 2023, which ended March 31.

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Source: SEC EDGAR

accession 0000950170-23-014836

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