QuantumScape
Develops QSE-5 solid-state lithium-metal battery technology for electric vehicles.
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Profile
Develops QSE-5 solid-state lithium-metal batteries and ceramic separators for electric vehicles and other applications. Its capital-light model transfers manufacturing technology to licensing partners, with PowerCo central to industrialisation.
QSE-5 is the first targeted commercial product, built around a proprietary ceramic separator for solid-state lithium-metal batteries. The development program has progressed to low-volume B-sample production, automotive customer shipments, and shipments of Cobra-based QSE-5 cells.
Engineering and pilot-line work are concentrated in San Jose, while partners are intended to scale manufacturing through technology-transfer and licensing arrangements. PowerCo is the key disclosed industrialisation partner under a prospective non-exclusive, royalty-bearing licence.
Larger-scale manufacturing depends on product quality, consistency, reliability, throughput, safety, customer qualification, and technology-transfer milestones before partners manufacture and sell QSE-5-based batteries.
Company facts
Key statistics
Year to date −49.3% · Average volume (30d) 22.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Feb 19, 2026 | HSBC | Upgrade | Reduce | Hold | ||
| Feb 18, 2026 | HSBC | Target | $10.50 | $8.30 | ||
| Feb 18, 2026 | Morgan Stanley | Reiterate | Equal Weight | $4 | $8.50 | |
| Feb 12, 2026 | Robert W. Baird | Target | $12 | |||
| Nov 24, 2025 | Evercore ISI | Target | $12 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | −$0.18 | −$0.16 | +9.5% | $2.43B | — | — | −12.78% |
| Apr 22, 2026Q1 FY26 | −$0.18 | −$0.16 | +11.1% | $1.0M | — | — | +1.37% |
| Feb 11, 2026Q4 FY25 | −$0.16 | −$0.17 | −6.3% | $1.9M | — | — | −11.90% |
| Oct 22, 2025Q3 FY25 | −$0.18 | −$0.18 | 0.0% | — | — | — | +7.95% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | −$18.3M | −$19.5M | −$14.2M | −$15.4M | −$14.8M | −$13.4M | |
| Operating income | −$123.6M | −$123.6M | −$115.0M | −$110.5M | −$109.2M | −$106.1M | |
| Net income | −$114.4M | −$114.7M | −$105.8M | −$100.1M | −$100.8M | −$98.2M | |
| Diluted EPS | −$0.21 | −$0.20 | −$0.18 | −$0.17 | −$0.16 | −$0.16 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $859.0M · Total debt $67.1M · Total assets $1.17B · Shareholders' equity $1.05B
Dividends
No dividends on record.
Ownership
Shares outstanding 615.15M · Float 503.87M · 81.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 28.56M | 4.64% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 21.12M | 3.43% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 18.73M | 3.04% | 13F | Aug 13, 2026 |
| Capricorn Investment Group LLC | 11.50M | 1.87% | 13F | Aug 14, 2026 |
| Dipender Saluja · director | 10.29M | 1.67% | Form 4 | Jun 5, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Timothy Holme | officer: CHIEF TECHNOLOGY OFFICER | −12,723 | $6.01 |
| Aug 19, 2026 | Timothy Holme | officer: CHIEF TECHNOLOGY OFFICER | −41,876 | $5.76 |
| Jul 2, 2026 | Kevin Hettrich | officer: CHIEF FINANCIAL OFFICER | −9,800 | $7.28 |
| Jul 2, 2026 | Timothy Holme | officer: CHIEF TECHNOLOGY OFFICER | −137,245 | $7.28 |
| Jun 22, 2026 | Kevin Hettrich | officer: CHIEF FINANCIAL OFFICER | −9,800 | $7.94 |
Peers
- Toyota Motor (ADR)
All-solid-state EV batteries targeted for 2027–28 commercialization
- Solid Power
Sulfide solid-electrolyte supplier and cell-design licensor for EVs
- S.E.S. AI
Li-metal battery developer for electric transportation
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| QuantumScape | $5.65 | +0.70% | $3.45B | — | — | — | — |
| Toyota Motor (ADR) | $194.76 | +0.09% | $230.30B | 8.7 | 13.7 | 0.7 | +0.1% |
| Solid Power | $2.31 | −1.07% | $524.2M | — | — | 51.2 | −115.7% |
| S.E.S. AI | $0.5280 | +1.13% | $190.3M | — | — | 8.1 | +44.6% |
| Median | 8.7 | 13.7 | 8.1 | +0.1% |





