QuantumScape narrows Q1 loss 12% to $100.8M; PowerCo commits $130.7M over two years

Filed April 24, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 25, 2025 · ~2 min read

Key Changes

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  Operating loss improved $14.4M year-over-year to $109.2M in Q1 2026, driven by lower stock-based comp ($10.1M) and headcount reductions. Cash declined to $904.7M from $970.8M at year-end, reflecting $66M quarterly burn.

  MD&A: Operating Results verify on EDGAR →
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  PowerCo amended collaboration in July 2025 with up to $130.7M in milestone-based contributions over two years for joint scale-up work at San Jose pilot line, reducing near-term cash-burn risk if milestones are met.

  MD&A: PowerCo Collaboration verify on EDGAR →
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  Section 30D EV tax credit terminated September 2025 under One Big Beautiful Bill Act; Section 30C charging credit ends July 2026. Termination could materially reduce consumer EV demand and battery market growth.

  Risk Factors: Tax Policy verify on EDGAR →