QuantumScape Corp (NASDAQ:QS) shares declined in Thursday’s premarket session after the solid-state battery developer reported fourth-quarter results on Wednesday evening.
QuantumScape reported a fourth-quarter loss of 17 cents per share, beating estimates for a loss of 18 cents per share.
The company ended the period with $970.8 million in total liquidity. Capital expenditures totaled $12.3 million in the fourth quarter and $36.3 million for the full-year 2025. Customer billings came in at $19.5 million in 2025.
Company Achieves 2025 Goals
QuantumScape said it completed all four goals set at the beginning of 2025, including the baseline of the Cobra process, shipping of Cobra-based QSE-5 cells, installation of equipment for Eagle Line, and expansion of commercial engagements.
“We believe we have a diverse group of customers and application opportunities, a robust and growing partner ecosystem, and a differentiated technology platform that is both continuously improving and capturing the benefits of increasing scale,” the company said in a letter to shareholders.
2026 Focus
The company’s core focus in 2026 will be demonstrating scalable production of its solid-state battery technology using the Eagle Line. QuantumScape also plans to work closely with global automaker customers to meet requirements and co-develop industrialization strategies.
Analyst Consensus & Recent Actions
The stock carries a Hold Rating with an average price forecast of $7.82. Recent analyst moves include:
- Morgan Stanley: Initiated with Equal-Weight (Target $12.00) (Dec. 8, 2025)
- Evercore ISI Group: Downgraded to In-Line (Raises Target to $12.00) (Nov. 24, 2025)
- HSBC: Downgraded to Reduce (Raises Target to $10.50) (Nov. 19, 2025)
QS Price Action: QuantumScape shares were down 8.05% at $8.11 during premarket trading on Thursday, according to Benzinga Pro data.
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