QS net incomeQ3 2026-$84.48M
QS net income was -$84.48M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$105.82M a year earlier. For the full fiscal 2025 it was -$435.05M, compared with -$477.86M in fiscal 2024.
Financials · QS
QuantumScape Corporation (QS) financials
For the twelve months ended Sep 30, 2026, QuantumScape Corporation reported -$383.62M of net income.
- Net income, TTM
- -$383.62M
- Free cash flow, TTM
- -$258.79M
- EPS, diluted, TTM
- -$0.63
- Cash
- $75.60M
- Market cap
- $2.84B
FY2019FY2025
FY2019FY2025
QS revenue and earnings growth
QS EPSQ3 2026-$0.14
QS diluted EPS was -$0.14 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.18 a year earlier. For the full fiscal 2025 it was -$0.76, compared with -$0.94 in fiscal 2024.
QS free cash flowQ3 2026-$59.51M
QS free cash flow was -$59.51M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$73.31M a year earlier. For the full fiscal 2025 it was -$278.75M, compared with -$336.80M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Research and development | $375.61M | $382.97M | $347.94M | $297.44M | $151.50M | $65.10M | $45.94M |
| Selling, general and admin | $97.00M | $142.24M | $131.09M | $123.18M | $63.77M | $15.92M | $9.87M |
| Operating income | -$472.60M | -$525.21M | -$479.03M | -$420.62M | -$215.27M | -$81.02M | -$55.82M |
| Interest expense | $2.04M | $2.22M | $2.38M | $2.40M | $1.42M | $20.77M | $94.0K |
| Pre-tax income | -$433.51M | -$478.21M | -$445.06M | - | - | - | - |
| Income tax | $1.54M | -$269.0K | $20.0K | $0 | $0 | $0 | $0 |
| Net income | -$435.05M | -$477.86M | -$445.14M | -$411.91M | -$45.97M | -$1.68B | -$51.28M |
| EPS, basic | -$0.76 | -$0.94 | -$0.96 | -$0.95 | -$0.11 | -$6.67 | -$0.21 |
| EPS, diluted | -$0.76 | -$0.94 | -$0.96 | -$0.95 | -$0.52 | -$6.67 | -$0.21 |
| Diluted shares | 576.0M | 508.1M | 462.2M | 433.0M | 409.5M | 252.1M | 239.6M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $230.52M | $140.87M | $142.52M | $235.39M | $320.70M | $113.22M | $22.82M |
| Short-term investments | $740.28M | $769.90M | $928.28M | $826.34M | $1.13B | $884.34M | $107.10M |
| Current assets | $981.64M | $922.29M | $1.08B | $1.07B | $1.46B | $1.01B | $131.18M |
| Total assets | $1.31B | $1.32B | $1.50B | $1.48B | $1.72B | $1.07B | $172.38M |
| Current liabilities | $61.55M | $64.88M | $57.09M | $46.81M | $30.61M | $12.35M | $7.22M |
| Total liabilities | $139.18M | $164.55M | $161.80M | $155.86M | $107.06M | $713.29M | $21.98M |
| Shareholders' equity | $1.17B | $1.16B | $1.34B | $1.32B | $1.61B | $351.77M | $148.69M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$242.47M | -$274.56M | -$240.03M | -$218.02M | -$127.91M | -$61.26M | -$41.73M |
| Capital expenditures | $36.28M | $62.25M | $84.62M | $158.84M | $127.18M | $24.09M | $9.85M |
| Free cash flow | -$278.75M | -$336.80M | -$324.65M | -$376.87M | -$255.09M | -$85.36M | -$51.58M |
| Investing cash flow | $14.93M | $128.87M | -$152.53M | $124.12M | -$385.83M | -$802.65M | $33.30M |
| Financing cash flow | $312.81M | $144.03M | $300.21M | $8.60M | $736.56M | $953.72M | $394.0K |
| Stock-based compensation | $127.46M | $144.65M | $166.30M | $127.11M | $52.17M | $17.02M | $6.81M |
| Depreciation and amortization | $65.57M | $57.78M | $41.96M | $28.28M | $11.21M | $6.85M | $4.70M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Return on equity | -37.2% | -41.3% | -33.3% | -31.3% | -2.9% | -478.1% | -34.5% |
| Return on assets | -33.3% | -36.1% | -29.6% | -27.9% | -2.7% | -157.7% | -29.7% |
| Current ratio | 15.95 | 14.21 | 18.98 | 22.91 | 47.81 | 81.71 | 18.16 |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $73.88M | $82.53M | $84.57M | $86.77M | $92.07M | $101.18M | $95.59M | $104.38M | $96.99M | $97.75M | $83.85M | $96.40M |
| Selling, general and admin | $18.54M | $23.59M | $24.61M | $23.68M | $22.92M | $22.41M | $27.99M | $24.31M | $33.16M | $36.71M | $48.05M | $28.24M |
| Operating income | -$92.42M | -$106.13M | -$109.18M | -$110.45M | -$114.99M | -$123.59M | -$123.58M | -$128.69M | -$130.16M | -$134.46M | -$131.90M | -$124.64M |
| Interest expense | $451.0K | $466.0K | $478.0K | $492.0K | $503.0K | $516.0K | $528.0K | $540.0K | $550.0K | $562.0K | $572.0K | $582.0K |
| Pre-tax income | -$84.38M | -$98.05M | -$100.79M | -$99.75M | -$104.62M | -$114.87M | -$114.25M | - | - | - | - | - |
| Income tax | $95.0K | $193.0K | $7.0K | $350.0K | $1.20M | -$176.0K | $169.0K | -$269.0K | $0 | $0 | $0 | $20.0K |
| Net income | -$84.48M | -$98.24M | -$100.80M | -$100.11M | -$105.82M | -$114.70M | -$114.42M | -$114.66M | -$119.57M | -$122.97M | -$120.65M | -$113.36M |
| EPS, basic | -$0.14 | -$0.16 | -$0.16 | -$0.17 | -$0.18 | -$0.20 | -$0.21 | -$0.22 | -$0.23 | -$0.25 | -$0.24 | -$0.23 |
| EPS, diluted | -$0.14 | -$0.16 | -$0.16 | -$0.17 | -$0.18 | -$0.20 | -$0.21 | -$0.22 | -$0.23 | -$0.25 | -$0.24 | -$0.23 |
| Diluted shares | 620.6M | 617.1M | 611.0M | - | 588.7M | 561.7M | 548.0M | - | 509.0M | 501.2M | 496.1M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $75.60M | $132.87M | $145.07M | $230.52M | $225.83M | $172.45M | $153.56M | $140.87M | $174.71M | $196.39M | $192.32M | $142.52M |
| Short-term investments | $744.18M | $726.13M | $759.64M | $740.28M | $777.91M | $625.04M | $706.75M | $769.90M | $666.31M | $741.47M | $817.31M | $928.28M |
| Current assets | $832.71M | $869.09M | $915.88M | $981.64M | $1.02B | $806.24M | $871.48M | $922.29M | $853.71M | $973.47M | $1.05B | $1.08B |
| Total assets | $1.12B | $1.17B | $1.23B | $1.31B | $1.34B | $1.17B | $1.26B | $1.32B | $1.27B | $1.40B | $1.46B | $1.50B |
| Current liabilities | $51.84M | $47.18M | $43.77M | $61.55M | $48.04M | $49.17M | $52.31M | $64.88M | $60.69M | $112.40M | $100.67M | $57.09M |
| Total liabilities | $123.74M | $120.77M | $119.42M | $139.18M | $127.48M | $143.59M | $150.29M | $164.55M | $161.35M | $214.70M | $204.32M | $161.80M |
| Shareholders' equity | $995.34M | $1.05B | $1.11B | $1.17B | $1.22B | $1.02B | $1.11B | $1.16B | $1.11B | $1.18B | $1.26B | $1.34B |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$55.06M | -$56.75M | -$59.51M | -$56.15M | -$63.73M | -$61.84M | -$60.75M | -$58.66M | -$92.80M | -$65.15M | -$57.95M | -$57.47M |
| Capital expenditures | $4.45M | $4.62M | $9.98M | $12.28M | $9.58M | $8.59M | $5.83M | $11.16M | $18.04M | $18.92M | $14.12M | $13.92M |
| Free cash flow | -$59.51M | -$61.37M | -$69.49M | -$68.43M | -$73.31M | -$70.43M | -$66.58M | -$69.82M | -$110.84M | -$84.07M | -$72.06M | -$71.39M |
| Investing cash flow | -$19.91M | $32.09M | -$25.69M | $32.02M | -$156.38M | $77.26M | $62.03M | -$109.07M | $66.13M | $65.31M | $106.50M | -$53.97M |
| Financing cash flow | $17.71M | $12.46M | -$256.0K | $27.28M | $270.64M | $3.48M | $11.40M | $133.89M | $4.99M | $3.91M | $1.24M | $3.14M |
| Stock-based compensation | $16.30M | $27.30M | $30.51M | $31.34M | $29.20M | $26.30M | $40.64M | $34.18M | $43.40M | $47.80M | $19.29M | $37.92M |
| Depreciation and amortization | $12.70M | $13.40M | $14.76M | $13.60M | $14.20M | $19.50M | $18.34M | $17.99M | $14.90M | $12.90M | $11.98M | $10.78M |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 16.06 | 18.42 | 20.93 | 15.95 | 21.14 | 16.40 | 16.66 | 14.21 | 14.07 | 8.66 | 10.38 | 18.98 |
Source: XBRL data QuantumScape Corporation files with the SEC, latest filing dated Oct 23, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
QS peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| QS | - | - | -$383.62M | - | $2.84B |
| SLDP | $7.66M | -66.1% | -$88.26M | -1152.2% | $441.2M |
| SES | $23.46M | - | -$67.96M | -289.6% | $323.1M |
| AMPX | $109.23M | +143.6% | -$36.48M | -33.4% | $1.39B |
| ENVX | $35.88M | +34.9% | -$170.02M | -473.9% | $610.1M |
| MVST | $290.08M | -34.7% | -$24.04M | -8.3% | $238.8M |
QS FAQ
6 questionsIs QS profitable?
No. QuantumScape Corporation reported a net loss of $383.62M for the twelve months ended Sep 30, 2026.How much cash and debt does QS have?
QuantumScape Corporation reported $75.60M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is QS free cash flow?
QuantumScape Corporation generated -$258.79M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$227.47M less capital expenditures.What is QS earnings per share?
Diluted earnings per share were -$0.63 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did QS last report financial results?
The latest statements here come from QuantumScape Corporation's 10-Q filed on Oct 23, 2026, covering the period ended Sep 30, 2026.Where does this QS financial data come from?
Quantisnow builds these statements from the structured XBRL data QuantumScape Corporation files with the SEC. It is provided for information only and is not investment advice.