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QuantumScape Corp (NYSE:QS) shares are trading higher in extended trading Wednesday after the company reported financial results for the third quarter. QS is trending after reporting third-quarter results. Get the market research here. Q3 Highlights: QuantumScape reported a third-quarter loss of 18 cents per share, beating estimates for a loss of 21 cents per share, according to Benzinga Pro. Capital expenditures in the third quarter totaled $9.6 million, while customer billings came in at $12.8 million. QuantumScape ended the quarter with $1.08 billion in total liquidity. The company said it believes its cash runway extends through the end of the decade. “Going forward, we plan to move away from providing updates on cash runway and will begin providing updates on customer billings,” the company said. QuantumScape noted it made “substantial progress” during the quarter on expanding commercial engagement, engaging new customers and adding additional partners. “With our achievements this quarter, our vision for commercialization of our next-generation battery technology is beginning to take shape. We are executing consistently toward our key annual goals, demonstrating our technology, engaging with partners, and building out our capital-light development and licensing business model,” said Siva Sivaram, CEO of QuantumScape. QuantumScape also announced on Wednesday that it began shipping B1 samples of its QSE-5 cell, which was one of the company’s key goals for the year. The cells feature separators produced using the company’s Cobra process. QuantumScape now expects a full-year adjusted EBITDA loss between $245 million and $260 million. QuantumScape’s management team will further discuss the company’s quarterly results on an earnings call at 5 p.m. ET. QS Price Action: QuantumScape shares were up 10.68% in after-hours, trading at $15.03 at publication time on Thursday, per Benzinga Pro. Read Next: Trump Wanted Clean Energy Dead—It’s Crushing Nvidia And AI Instead Photo: Michael Vi/Shutterstock.com
