QuantumScape Stock Falls On Q2 Results: Here's Why
Portfolio Pulse from Erica Kollmann
QuantumScape Corporation (NYSE:QS) reported a GAAP quarterly loss of 25 cents per share, missing analyst estimates. The company ended Q2 with $938 million in liquidity and extended its cash runway to 2028 due to a licensing deal with PowerCo. Despite maintaining its full-year 2024 guidance, QS shares fell 5.09% after-hours.
July 24, 2024 | 9:18 pm
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QuantumScape reported a GAAP quarterly loss of 25 cents per share, missing analyst estimates. The company ended Q2 with $938 million in liquidity and extended its cash runway to 2028 due to a licensing deal with PowerCo. Despite maintaining its full-year 2024 guidance, QS shares fell 5.09% after-hours.
The missed earnings estimate and the significant after-hours price drop indicate a negative short-term impact on QuantumScape's stock. The extension of the cash runway and maintained guidance provide some positive long-term outlook, but the immediate market reaction is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100