QuantumScape Narrows Third-Quarter Loss to $84.5 Million

QuantumScape narrowed its GAAP net loss in the third quarter and kept its 2026 guidance unchanged, showing a smaller reported deficit while its adjusted EBITDA loss remained near the year-earlier level.

For the quarter ended Sept. 30, 2026, net loss was $84.477 million, compared with $105.824 million in the same period a year earlier. Basic and diluted loss per share were $0.14, down from $0.18. Operating expenses fell to $92.424 million from $114.993 million.

Adjusted EBITDA loss, a non-GAAP measure, was $60.707 million. The comparable loss a year earlier was $61.427 million, a difference of less than $1 million. The adjusted EBITDA result therefore changed little as the GAAP net loss declined.

QuantumScape maintained its full-year 2026 guidance for an adjusted EBITDA loss of $250 million to $275 million and capital expenditures of $27 million to $37 million. Capital expenditures in the third quarter were $4.4 million.

Customer billings totaled $9.8 million. Billings measure the value invoiced during a period regardless of accounting treatment; they are not a substitute for revenue under U.S. GAAP. The quarter included initial billings under the Honda agreement and the first customer billings for the company’s defense, aerospace and advanced solutions business.

QuantumScape develops solid-state lithium-metal batteries for automotive and other uses. It had $819.8 million in liquidity at quarter-end.

A partnership with Muehlbauer Group covers equipment for a planned 100-megawatt-hour cell production line. Production is targeted to start in 2028, and the line is intended to extend production beyond the designed capacity of QuantumScape’s Eagle Line pilot facility.

“Eagle Line is fully operational and is producing increased volumes of QSE-5 cells for customers,” QuantumScape President and CEO Siva Sivaram and CFO Kevin Hettrich wrote.