Shares of QuantumScape Corp. (QS) surged 12.00% in pre-market trading on Thursday, following the release of its third-quarter 2025 financial results that exceeded analyst expectations and demonstrated significant progress in its commercialization efforts.
The solid-state battery developer reported a third-quarter loss of $0.18 per share, beating analyst estimates of $0.21 per share. This represents a notable improvement from the $0.23 per share loss reported in the same period last year. QuantumScape's financial performance, coupled with key operational milestones, contributed to the strong market reaction.
Siva Sivaram, CEO of QuantumScape, highlighted several achievements during the quarter. "We are executing consistently toward our key annual goals, demonstrating our technology, engaging with partners, and building out our capital-light development and licensing business model," he stated. The company unveiled its launch program with the Volkswagen Group, featuring the Ducati V21L race motorcycle at IAA Mobility in Munich, marking a significant step in real-world application of its technology.
QuantumScape also reported progress in its commercialization strategy, including the commencement of shipping COBRA-based QSC5 B1 samples and advancing partnerships with Corning and Murata for ceramic separator manufacturing. These developments underscore the company's efforts to scale its technology and build a robust ecosystem for production.
On the financial front, QuantumScape introduced a new metric, customer billings, which totaled $12.8 million in Q3. This metric reflects the company's transition towards a capital-light business model focused on development and licensing. The company also bolstered its balance sheet, ending the quarter with $1 billion in liquidity and extending its projected cash runway through the end of the decade.
Investors appear to be responding positively to QuantumScape's improved financial outlook and progress in commercializing its solid-state battery technology. The pre-market surge indicates growing confidence in the company's potential to revolutionize energy storage in the electric vehicle market.