QuantumScape (QS) stock climbed roughly 8–10% in after-hours trading after the solid-state battery developer reported a narrower-than-expected third-quarter loss and announced a new production plan aimed at AI data centers.
Q3 results: Net loss was $84.4 million, or $0.14 per share, compared with analyst expectations for a $0.17 per-share loss. Adjusted EBITDA loss was $60.7 million. Operating expenses fell to $92.4 million from $115 million, with R&D spending down to $73.9 million and general and administrative costs declining to $18.5 million. Customer billings reached $9.8 million, including the first billings under the Honda agreement and the first billings from the advanced solutions business serving defense and aerospace customers.
AI data center plan: QuantumScape announced a partnership with Germany’s Muehlbauer Group to equip a 100-megawatt-hour production line targeted to begin operations in 2028. The line is aimed at AI data centers, aerospace and defense. Equipment costs are expected to stay below $100 million. CEO Siva Sivaram said the company is exploring customer, government and partner funding and is seeking financing that would not require selling new stock. Muehlbauer CEO Josef Markus Mühlbauer said, “The Eagle Line proved to us that QuantumScape’s solid-state technology is ready to scale to the next level.”
Financial position: QuantumScape ended the quarter with $819.8 million in liquidity. It maintained its 2026 adjusted EBITDA loss forecast of $250 million to $275 million and full-year capital spending guidance of $27 million to $37 million. Wall Street rates QS a Hold with an average price target of $6.83, implying about 72% upside from around $3.98.
The company introduced the QS PowerBlock, an in-rack energy storage design for data centers, in early October. The next disclosure on next-generation batteries is expected at a Kyoto symposium on 11 November.
