QuantumScape 8-K
PositiveEarningsGuidance lowered
New Honda partnership expands automotive ties as Eagle Line ramps battery sampling and QSE-5 reaches a major U.S. defense prime.
Filed 2026-07-22 16:18 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results and business update. QuantumScape is advancing solid-state lithium-metal battery commercialization with four Top-10 automotive OEMs, including a new multi-year partnership with Honda, while pursuing AI data-center and aerospace and defense markets. The company says its Eagle Line pilot production ramp is enabling more customer samples across these markets.
Key Figures
| Metric | Q2 2026 | H1 2026 |
|---|---|---|
| Operating loss | $(106)M, narrowed 14% Y/Y | $(215)M, narrowed 13% Y/Y |
| Net loss | $(98.2)M, narrowed 14% Y/Y | $(199)M, narrowed 13% Y/Y |
| Adjusted EBITDA loss, non-GAAP | $(64.2)M, widened 1.9% Y/Y | $(127)M, narrowed 0.08% Y/Y |
| Diluted EPS | $(0.16), vs $(0.20) Y/Y | $(0.32), vs $(0.41) Y/Y |
| Operating cash flow | $(56.7)M, cash use narrowed 8.2% Y/Y | $(116)M, cash use narrowed 5.2% Y/Y |
| Customer billings | $10.8M | — |
- Customer billings are the value of invoices issued in the period, regardless of accounting treatment, and are not GAAP revenue. Q2 capital expenditures were $4.6M, primarily for the technology roadmap and related facilities; the company lowered its full-year capex outlook, citing capital discipline and savings on specific projects.
- Liquidity was $859.0M at quarter-end. Q2 adjusted EBITDA loss was described as in line with expectations.
- The company is organizing its business into QSEV for electric vehicles, QSDC for AI data centers, and QSAS for advanced applications such as aerospace and defense. QSDC is working with original design manufacturers on QSE-5, its solid-state lithium-metal cell; QSAS has shipped QSE-5 samples to a major American defense prime. QuantumScape also amended its Volkswagen PowerCo collaboration milestones and payments, works with two other Top-10 automakers under existing development agreements, and shipped cells to an additional automotive OEM.
- Eagle Line core tools had uptime above 90%, and the company said productivity metrics were meeting targets as it ramped cell volumes and shipped samples. Larger-scale safety testing replicated earlier findings, and its Cobra process demonstrated larger-area ceramic separators for higher-capacity cell designs.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Adjusted EBITDA loss, non-GAAP | FY2026 | $250M-$275M | — | Reaffirmed |
| Capital expenditures | FY2026 | $27M-$37M | — | Lowered |
| Eagle Line cell output | H2 2026 | Aim to further double output | — | — |
Investor Takeaways
- Watch Eagle Line output and customer sample shipments in H2 2026; progress toward doubling output and accelerating shipments would support the company’s production-ramp plans.
- Watch whether AI data-center and aerospace and defense customer engagements develop into further agreements or commercial commitments, as the company expands beyond automotive applications.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-27 20:04:01Z