QuantumScape beats Q1 loss estimates, shares jump 10.6% on strong outlook and new customer progress

QuantumScape reported a smaller-than-expected loss of 16 cents per share for Q1, beating the consensus estimate of an 18-cent loss. The company posted an adjusted EBITDA loss of $63.2 million, in line with expectations, and maintained its full-year adjusted EBITDA loss guidance of $250-$275 million. Customer billings reached $11 million, reflecting development activities and partner payments. QuantumScape also completed technology evaluations with a second top-10 global automotive OEM, signaling progress in its electric vehicle battery technology. Following the report, QuantumScape shares rose 10.6% in after-hours trading, reflecting investor optimism about its growth prospects.