QuantumScape Corp. (QS) financial statements: income statement, balance sheet and cash flow
QuantumScape Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), QuantumScape Corp. reported net income of ($435.1M) (+9.0% year on year).
Income statement
QuantumScape Corp. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Research and development
$375.6M
$383.0M
$347.9M
$297.4M
General and administrative
$97.0M
$142.2M
$131.1M
$123.2M
Total operating expenses
$472.6M
$525.2M
$479.0M
$420.6M
Loss from operations
($472.6M)
($525.2M)
($479.0M)
($420.6M)
Interest expense
($2.0M)
($2.2M)
($2.4M)
($2.4M)
Interest income
$38.6M
$46.0M
$36.5M
$10.9M
Other income (expense)
$2.5M
$3.5M
($160.0K)
$8.7M
Loss before income taxes
($433.5M)
—
—
—
Income tax (provision) benefit
($1.5M)
—
—
—
Net loss
($435.1M)
($477.9M)
($445.1M)
($411.9M)
Net loss attributable to common stockholders
($435.1M)
($477.9M)
($445.1M)
($411.9M)
Unrealized gain on marketable securities
$216.0K
$3.3M
$15.0M
($13.7M)
Total comprehensive loss
($434.8M)
($474.6M)
($430.1M)
($425.6M)
Comprehensive loss attributable to common stockholders
($434.8M)
($474.6M)
($430.1M)
($425.6M)
Net loss per share - Basic
-$0.76
-$0.94
-$0.96
-$0.95
Net loss per share - Diluted
-$0.76
-$0.94
-$0.96
-$0.95
Weighted-average common shares outstanding - Basic
576.0M
508.1M
462.2M
433.0M
Weighted-average common shares outstanding - Diluted
576.0M
508.1M
462.2M
433.0M
QuantumScape Corp. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Research and development
$73.9M
$82.5M
$84.6M
$92.1M
General and administrative
$18.5M
$23.6M
$24.6M
$22.9M
Total operating expenses
$92.4M
$106.1M
$109.2M
$115.0M
Loss from operations
($92.4M)
($106.1M)
($109.2M)
($115.0M)
Interest expense
($451.0K)
($466.0K)
($478.0K)
($503.0K)
Interest income
$8.1M
$8.4M
$8.9M
$10.0M
Other income
$427.0K
—
—
—
Loss before income taxes
($84.4M)
($98.0M)
($100.8M)
—
Income tax provision
($95.0K)
($193.0K)
($7.0K)
—
Net loss
($84.5M)
($98.2M)
($100.8M)
($105.8M)
Unrealized gain (loss) on marketable securities
($1.1M)
($610.0K)
($1.0M)
$656.0K
Total comprehensive loss
($85.6M)
($98.8M)
($101.8M)
($105.2M)
Net loss per share - Basic
-$0.14
-$0.16
-$0.16
-$0.18
Net loss per share - Diluted
-$0.14
-$0.16
-$0.16
-$0.18
Weighted-average common shares outstanding - Basic
620.6M
617.1M
611.0M
588.7M
Weighted-average common shares outstanding - Diluted
620.6M
617.1M
611.0M
588.7M
Balance sheet
QuantumScape Corp. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$230.5M
$140.9M
$142.5M
$235.4M
Marketable securities
$740.3M
$769.9M
$928.3M
$826.3M
Prepaid expenses and other current assets
$10.8M
$11.5M
$12.7M
$10.6M
Total current assets
$981.6M
$922.3M
$1.1B
$1.1B
Property and equipment, net
$251.4M
$300.0M
$313.2M
$295.9M
Right-of-use assets - operating lease
$34.1M
$51.5M
$55.9M
$60.8M
Right-of-use assets - finance lease
$19.4M
$22.3M
$25.1M
$28.0M
Other assets
$21.6M
$26.4M
$24.3M
$18.4M
Total assets
$1.3B
$1.3B
$1.5B
$1.5B
Accounts payable
$11.8M
$6.5M
$13.0M
$21.4M
Accrued liabilities
$14.5M
$17.4M
$10.2M
$7.5M
Accrued compensation and benefits
$27.0M
$32.2M
$26.0M
$13.1M
Operating lease liability, short-term
$4.7M
$5.5M
$5.0M
$3.5M
Finance lease liability, short-term
$3.6M
$3.2M
$2.9M
$1.4M
Total current liabilities
$61.5M
$64.9M
$57.1M
$46.8M
Operating lease liability, long-term
$34.5M
$52.9M
$57.6M
$62.6M
Finance lease liability, long-term
$28.3M
$31.9M
$35.1M
$38.0M
Other liabilities
$14.9M
$14.9M
$12.0M
$8.5M
Total liabilities
$139.2M
$164.5M
$161.8M
$155.9M
Common stock - $0.0001 par value; 1,250,000 shares authorized (1,000,000 Class A and 250,000 Class B); 570,128 Class A and 37,502 Class B shares issued and outstanding as of December 31, 2025, 487,883 Class A and 54,666 Class B shares issued and outstanding as of December 31, 2024
61.0K
54.0K
49.0K
44.0K
Additional paid-in-capital
$5.0B
$4.5B
$4.2B
$3.8B
Accumulated other comprehensive loss
$644.0K
$428.0K
($2.9M)
($17.9M)
Accumulated deficit
($3.8B)
($3.4B)
($2.9B)
($2.4B)
Total stockholders’ equity
$1.2B
$1.2B
$1.3B
$1.3B
Total liabilities and stockholders' equity
$1.3B
$1.3B
$1.5B
$1.5B
QuantumScape Corp. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$75.6M
$132.9M
$145.1M
$225.8M
Marketable securities
$744.2M
$726.1M
$759.6M
$777.9M
Prepaid expenses and other current assets
$12.9M
$10.1M
$11.2M
$11.8M
Total current assets
$832.7M
$869.1M
$915.9M
$1.0B
Property and equipment, net
$219.0M
$229.4M
$240.2M
$250.3M
Right-of-use assets - operating lease
$31.0M
$32.1M
$33.2M
$35.1M
Right-of-use assets - finance lease
$21.0M
$22.5M
$23.9M
$20.1M
Other assets
$15.5M
$15.7M
$15.9M
$22.1M
Total assets
$1.1B
$1.2B
$1.2B
$1.3B
Accounts payable
$6.0M
$6.3M
$7.4M
$6.4M
Accrued liabilities
$17.0M
$15.0M
$15.4M
$14.0M
Accrued compensation and benefits
$19.8M
$17.2M
$12.5M
$19.6M
Operating lease liability, short-term
$5.1M
$5.0M
$4.9M
$4.6M
Finance lease liability, short-term
$3.9M
$3.8M
$3.7M
$3.5M
Total current liabilities
$51.8M
$47.2M
$43.8M
$48.0M
Operating lease liability, long-term
$30.7M
$32.0M
$33.3M
$35.7M
Finance lease liability, long-term
$25.4M
$26.3M
$27.3M
$29.2M
Other liabilities
$15.8M
$15.2M
$15.0M
$14.5M
Total liabilities
$123.7M
$120.8M
$119.4M
$127.5M
Common stock - $0.0001 par value; 1,250,000 shares authorized (1,000,000 Class A and 250,000 Class B); 590,244 Class A and 31,815 Class B shares issued and outstanding as of September 30, 2026, 570,128 Class A and 37,502 Class B shares issued and outstanding as of December 31, 2025
62.0K
62.0K
61.0K
60.0K
Additional paid-in-capital
$5.1B
$5.0B
$5.0B
$4.9B
Accumulated other comprehensive (loss) income
($2.1M)
($994.0K)
($384.0K)
$543.0K
Accumulated deficit
($4.1B)
($4.0B)
($3.9B)
($3.7B)
Total stockholders’ equity
$995.3M
$1.0B
$1.1B
$1.2B
Total liabilities and stockholders' equity
$1.1B
$1.2B
$1.2B
$1.3B
Cash flow statement
QuantumScape Corp. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($435.1M)
($477.9M)
($445.1M)
($411.9M)
Depreciation and amortization
$65.6M
$57.8M
$42.0M
$28.3M
Amortization of right-of-use assets and non-cash lease expense
$7.7M
$8.0M
$7.8M
$7.8M
Accretion of discounts on marketable securities
($19.0M)
($29.3M)
($18.9M)
$4.0M
Stock-based compensation expense
$127.5M
$144.7M
$166.3M
$127.1M
Write-off of property and equipment
$26.6M
$13.3M
$21.5M
$13.7M
Other
($4.0M)
$109.0K
$469.0K
$840.0K
Prepaid expenses and other current assets and other assets
$1.3M
($893.0K)
($7.5M)
$5.0M
Accounts payable, accrued liabilities and accrued compensation and benefits
($6.8M)
$15.0M
($2.9M)
$5.6M
Operating lease liability
($4.8M)
($5.1M)
($3.4M)
($844.0K)
Other liabilities
($1.3M)
($213.0K)
($234.0K)
$2.3M
Net cash used in operating activities
($242.5M)
($274.6M)
($240.0M)
($218.0M)
Purchases of property and equipment
($36.3M)
($62.1M)
($84.5M)
($158.8M)
Proceeds from maturities of marketable securities
$1.1B
$1.5B
$1.0B
$837.4M
Purchases of marketable securities
($1.1B)
($1.3B)
($1.1B)
($569.6M)
Other
$2.4M
—
—
—
Net cash (used in) provided by investing activities
$14.9M
$128.9M
($152.5M)
$124.1M
Proceeds from exercise of stock options and employee stock purchase plan
$32.3M
$20.1M
$14.0M
$9.4M
Proceeds from issuance of common stock
$268.7M
$128.5M
$288.2M
—
Common stock issuance costs paid
($4.5M)
—
—
—
Principal payment for finance lease
($3.2M)
($2.9M)
($2.0M)
—
Cash received under collaboration agreement - related party
$19.5M
—
—
—
Net cash provided by financing activities
$312.8M
$144.0M
$300.2M
$8.6M
Net increase (decrease) in cash, cash equivalents and restricted cash
$85.3M
($1.7M)
($92.3M)
($85.3M)
Cash, cash equivalents and restricted cash at beginning of period
$158.9M
$160.6M
$252.9M
$338.2M
Cash, cash equivalents and restricted cash at end of period
$244.2M
$158.9M
$160.6M
$252.9M
Cash paid for interest
$2.0M
$2.2M
$1.8M
$1.6M
Purchases of property and equipment, not yet paid
$9.7M
$3.2M
$10.6M
$18.2M
QuantumScape Corp. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net loss
($283.5M)
($199.0M)
($100.8M)
($334.9M)
Depreciation and amortization
$40.8M
$28.1M
$14.8M
$52.0M
Amortization of right-of-use assets and non-cash lease expense
$7.7M
$5.1M
$2.6M
$5.9M
Accretion of discounts on marketable securities
($11.5M)
($8.3M)
($4.5M)
($13.7M)
Stock-based compensation expense
$74.1M
$57.8M
$30.5M
$96.1M
Write-off of property and equipment
$4.6M
$1.9M
—
$24.4M
Other
($462.0K)
($232.0K)
$454.0K
($2.9M)
Prepaid expenses and other current assets and other assets
($2.0M)
$814.0K
($412.0K)
$1.1M
Accounts payable, accrued liabilities and accrued compensation and benefits
$2.1M
($111.0K)
($880.0K)
($9.0M)
Operating lease liability
($3.5M)
—
—
($3.7M)
Other liabilities
$295.0K
—
—
($1.5M)
Net cash used in operating activities
($171.3M)
($116.3M)
($59.5M)
($186.3M)
Purchases of property and equipment
($19.0M)
($14.6M)
($10.0M)
($24.0M)
Proceeds from maturities of marketable securities
$689.2M
$514.2M
$232.0M
$830.7M
Purchases of marketable securities
($684.3M)
($493.5M)
($247.8M)
($824.9M)
Other
$669.0K
$220.0K
$174.0K
—
Net cash used in investing activities
($13.5M)
$6.4M
($25.7M)
($17.1M)
Proceeds from exercise of stock options and employee stock purchase plan
$3.7M
$3.6M
—
$23.6M
Proceeds from issuance of common stock
$0
$0
—
$268.7M
Common stock issuance costs paid
$0
$0
—
($4.4M)
Principal payment for finance lease
($2.6M)
($1.8M)
($870.0K)
($2.4M)
Cash received under collaboration agreement - related party
$28.9M
$10.4M
—
—
Net cash provided by financing activities
$29.9M
$12.2M
($256.0K)
$285.5M
Net (decrease) increase in cash, cash equivalents and restricted cash
($154.9M)
($97.7M)
($85.5M)
$82.1M
Cash, cash equivalents and restricted cash at beginning of period
$244.2M
$244.2M
$244.2M
$158.9M
Cash, cash equivalents and restricted cash at end of period