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In a dramatic return to center stage, QuantumScape (QS) has reignited Wall Street’s interest ahead of its next earnings release. On July 18, the stock soared to a fresh 52-week high of $15.03, marking a 7.7% intraday gain.
Shares have soared more than 215% in the last month, so all eyes will be on its second-quarter report after market close on Wednesday, July 23.
The initial catalyst that sparked its recent rally was the integration of its Cobra separator process into baseline cell production. News of this technical step forward prompted a 31% stock jump the very next day.
Given that QuantumScape remains in a pre‑revenue phase, the breakthrough signals tangible momentum. As capital continues to pour in, the question becomes not whether the firm can deliver, but when revenue will begin to flow. Thus, Q2 results will be watched closely.
About QuantumScape Stock
QuantumScape, headquartered in San José, California, is building the future of electric vehicle power with its next‑generation solid‑state lithium‑metal batteries. At a market cap of $7 billion, the company counts big backers including Bill Gates and the Qatar Investment Authority, while Volkswagen (VWAGY) holds a material ownership stake.
Over the past three months, QS has exploded 253%, and in the past month alone risen 220%.
That premium shows in valuation. QS now trades at roughly 7.4 times its book value, a lofty level for a pre-revenue company. But with battery breakthroughs underway and investor capital backing its runway, many believe that traditional valuations give way to future potential.
A Closer Look at QuantumScape’s Q1 Earnings
On April 23, QuantumScape unveiled its Q1 2025 earnings, which, despite its pre‑revenue status, carried encouraging developments. The company reported a net loss of $114.4 million, narrowing from $120 million in the year-ago period. Its adjusted EBITDA loss and operating losses both also narrowed year over year.
At the end of Q1, QuantumScape reported $860 million in liquidity, giving it a runway well into the second half of 2028. For a pre-revenue company in a capital-intensive industry, this is a reassuring buffer. This will also allow the company to reach key milestones, including field testing set for 2026, without raising immediate funding.
Until then, investor focus remains on technical progress and fiscal discipline. QuantumScape announced the successful integration of its proprietary Cobra separator process into baseline cell production.
The separator breakthrough enhances the reliability and manufacturability of QuantumScape’s QSE‑5 battery cells, which are being prepared for deployment through its ongoing launch program with Volkswagen’s PowerCo.
Analysts expect a Q2 2025 loss of $0.20 per share, a 20% improvement from the same period last year. Full-year 2025 losses are projected to narrow by 9.6% to $0.85, with further contraction expected in 2026 to $0.74 per share, a 12.9% reduction.
While profitability remains distant, consistent improvements on the cost side and technical achievements help maintain investor interest.
What Do Analysts Expect for QuantumScape Stock?
Analyst coverage on QS reflects the tug-of-war between long-term promise and near-term risk. The consensus rating stands at “Hold,” suggesting an even split between bulls and skeptics. Among eight analysts tracking the stock, one maintains a “Strong Buy” call, four recommend “Hold,” and three issue a “Strong Sell.”
At current levels, QS trades far above the average price target of $4.79 and well beyond even the Street-High target of $8.
