QuantumScape Reports Q2 2025 Financial Results with $114.7 Million Net Loss

QuantumScape Corporation reported its financial results for the second quarter of 2025, revealing a net loss of $114.7 million, a decrease from a loss of $123.0 million in the same period last year. For the first half of 2025, the company recorded a net loss of $229.1 million, compared to a loss of $243.6 million in the first half of 2024. The company continues to operate without generating revenue from its core business activities, maintaining an accumulated deficit of approximately $3.6 billion since its inception.

Total operating expenses for the second quarter of 2025 were $123.6 million, down 8% from $134.5 million in the prior year. Research and development expenses increased by 4% to $101.2 million, primarily due to a $13.7 million write-off of fixed assets and higher depreciation costs. Conversely, general and administrative expenses saw a significant decline of 39%, totaling $22.4 million, attributed to reduced legal and professional fees and a decrease in stock-based compensation expenses.

In terms of operational developments, QuantumScape has made strides in its product development, particularly with its QSE-5 solid-state lithium-metal battery technology. The company has shipped prototype cells to multiple original equipment manufacturers (OEMs) for testing and is focused on improving the quality and reliability of its products. As of June 30, 2025, the company had not yet derived revenue from its principal business activities, but it continues to engage with automotive OEMs to validate its battery technology for future commercial applications.

The company’s cash and cash equivalents stood at $172.5 million as of June 30, 2025, a rise from $140.9 million at the end of 2024. Marketable securities decreased to $625.0 million from $769.9 million during the same period. QuantumScape has indicated that it expects its cash resources to last into 2029, bolstered by a recent collaboration agreement with PowerCo, which includes a commitment of up to $130.7 million for the development of its battery technology, contingent on meeting specific technical milestones.

Looking ahead, QuantumScape remains focused on advancing its solid-state battery technology and scaling up production capabilities. The company is actively working on improving its manufacturing processes and aims to achieve significant cost savings as it transitions from research and development to commercial operations. However, it acknowledges that achieving these goals will require substantial investment and may be subject to various market and operational risks.