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Benzinga
Benzinga
Business
Erica Kollmann

QuantumScape Announces Better-Than-Expected Q2 Results, Expands Collaboration With PowerCo

QuantumScape Quantum Powerco QS
QuantumScapeQSE-5-and-A0-Prototype-2

QuantumScape Corp. (NYSE:QS) released its second-quarter results after Wednesday's closing bell. Here's a look at the details from the report. 

The Details: QuantumScape reported quarterly losses of 20 cents per share, which beat the analyst consensus estimate for losses of 22 cents and is up from losses of 25 cents per share from the same period last year.

Read Next:  Quantum Stock Tracker: Rigetti Achieves Major Breakthrough, But Jim Cramer Names Another Stock To ‘Own’

The company also announced it has expanded its strategic and licensing arrangement with PowerCo.

Under the terms, PowerCo will provide up to $131 million in new payments over the next two years upon achieving certain milestones.

The first milestones have been achieved, and QuantumScape expects to begin receiving payments in 2025.

QS Price Action: According to data from Benzinga Pro, QuantumScape stock was up 1.40% at $13.01 in Wednesday's extended trading. 

Read Next: 

Photo: Shutterstock

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