(May 12) QuantumScap fell over 6% in morning trading Wednesday. Earlier QuantumScape , a leader in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles, announced its financial results for the first quarter of 2021, which ended March 31, 2021. Whitch showed:
QuantumScape Q1 GAAP EPS of -$0.20misses by $0.13.
With the expansion of QS-0 line and the associated equity offering, the company plan to increase spending in 2021 to continue the momentum. Based on new projections, cash spend on operations and capex for the full year to be between $260M and $320M to support development activities and the higher capacity QS-0 line. Net of financing proceeds from follow-on equity offering, VW investment, and public warrant exercises to enter 2022 with greater than $1.3B in liquidity, reflecting a net increase of more than $300M compared to liquidity entering the year.
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