QuantumScape Posts Adjusted EBITDA Loss of $60.7 Million, Maintains 2026 Guidance
Key Facts
QuantumScape reported an adjusted EBITDA loss of $60.7 million in the third quarter of 2026, saying the result was in line with expectations. The company reaffirmed its fiscal 2026 adjusted EBITDA loss guidance range of $250 million to $275 million. The figures show continued operating losses, although the company described the quarter’s result as within expectations. In the same financial context, the company ended the quarter with liquidity of $819.8 million as of September 30, 2026. That liquidity represents the resources available to the company as it continues developing its technology and industrial plans.
Capital expenditures were $4.4 million in the third quarter, and QuantumScape kept its full-year outlook at $27 million to $37 million. The company said quarterly spending was focused primarily on its technology roadmap and facility-related expenditures. This puts technology and facilities investment among the items the company continues to fund as it develops its business. Customer billings also reached $9.8 million in the quarter. The company defines this figure as the total value of invoices issued to customers and partners during the period, regardless of accounting treatment. It emphasized that customer billings are an operating metric and do not replace revenue under U.S. generally accepted accounting principles.
On manufacturing, QuantumScape said its automated Eagle Line is operating in San Jose to demonstrate scalability and is producing increasing quantities of QSE-5 cells for customers. The line represents a pilot production stage as the company continues working to expand its operations and equipment. In its statement on industrial plans, the company said Muehlbauer Group will supply cell assembly equipment. It added that engineering work is underway on higher-throughput processes and equipment. This reflects a manufacturing plan that depends on developing equipment and processes alongside cell production on the Eagle Line.
In its work with the automotive sector, the company said it issued its first customer invoices in the third quarter under a development agreement with Honda announced in June. The agreement includes integrating QuantumScape’s battery platform into Honda’s technology roadmap. The company also announced that it had signed an agreement with a new customer to advance automotive commercialization efforts. It described the new customer as a leading global mobility manufacturer, without disclosing its name. These agreements add avenues for collaboration with automotive customers to the ongoing work on technology development and production.
The company had scheduled its third-quarter results for after the market close on October 21, 2026, followed by a call at 2 p.m. Pacific time, or 5 p.m. Eastern time. In premarket trading on October 22, Investing.com reported that the stock was up about 8%, linking the move to the smaller-than-expected quarterly loss and the commercial production line plan. QS shares closed at $4.15 on October 22, according to EL7 data. Later, QuantumScape said it would present further details on its next-generation technology platform and its collaboration model with automotive customers at its third annual solid-state battery seminar in Kyoto on November 11. The update follows the financial results and the company’s disclosures on production progress and customer collaboration.