QuantumScape Corp (NYSE:QS) reported a Q3 loss of 23 cents per share, beating estimates for a loss of 30 cents per share. Operating expenses totaled $121 million and capital expenditures were $18 million. The company maintained its full-year cash operating expense outlook of $225 million to $275 million and revised its capex guidance lower to a range of $75 million to $100 million. QuantumScape ended the quarter with about $1.1 billion in liquidity after raising $300 million and expects its cash runway to extend into 2026. Despite the positive financial results, the company's shares were trading lower.