QuantumScape (NYSE: QS) reported Q3 EPS of ($0.18), $0.02 better than the analyst estimate of ($0.20).

Financial Outlook
GAAP operating expenses and GAAP net loss in Q3 were $115.0M and $105.8M, respectively. Adjusted EBITDA loss was $61.4M in Q3, in line with expectations. A table reconciling GAAP net loss and Adjusted EBITDA is available in the financial statement at the end of this shareholder letter. We continue to drive operational efficiency consistent with our capital-light licensing focus and improve our full-year guidance for Adjusted EBITDA loss to $245M – $260M.
Capital expenditures in the third quarter were $9.6M. Q3 capex primarily supported facilities and equipment purchases for the Eagle Line. As a result of efficiency gains and process improvements, including from the Cobra process, as well as a change in timing of certain equipment ordering, we revise the range of our full-year capex guidance to $30M – $40M.
We ended Q3 with $1.0B in liquidity and now project that our cash runway extends through the end of the decade, a 12-month extension from our previous guidance of into 2029. We completed our at-the-market equity program before our shelf registration statement expired on August 10. Going forward, we plan to move away from providing updates on cash runway and will begin providing updates on customer billings.

For earnings history and earnings-related data on QuantumScape (QS) click here.