QuantumScape Reports $19.5M Q4 Billings, Narrows Loss to $100.1M
QuantumScape reported Q4 2025 customer billings of $19.5M—all in Q4—recorded to equity under US GAAP, with EPS improving to -$0.17 from -$0.22 and net loss narrowing to $100.1M from $114.7M. It guided 2026 adjusted EBITDA loss of $250–275M and capital expenditures of $40–60M.
1. Q4 and Full-Year 2025 Financial Results
QuantumScape delivered $19.5 million in customer billings, all in Q4, recorded to equity under US GAAP. EPS improved to -$0.17 from -$0.22 and Q4 net loss narrowed to $100.1 million from $114.7 million, while full-year loss improved 9% to $435.1 million.
2. Cost Discipline Measures
The company reduced losses through value engineering on its Eagle Line prototype, optimizing its real estate footprint and enforcing capital efficiency measures, all achieved without slowing technical development of its solid-state lithium-metal batteries.
3. 2026 Guidance and Outlook
QuantumScape forecasts a 2026 adjusted EBITDA loss of $250–275 million, roughly flat to modestly better than 2025, and expects capital expenditures to rise to $40–60 million from $36.3 million in 2025.