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Shares of QuantumScape (NYSE:QS) are falling decrease by greater than 10% after the solid-state battery (SSB) maker reported its fourth-quarter earnings. This comes after QS inventory closed greater by over 30% the earlier buying and selling day, which might have been attributed to the White Home saying funding for electrical automobile (EV) charging infrastructure or shorts overlaying forward of earnings.
For This autumn, QuantumScape reported zero {dollars} in gross sales and an earnings per share (EPS) lack of 25 cents, which beat the typical analyst estimate for a lack of 29 cents. That’s equal to a lack of $109 million, up from a lack of $67 million a yr in the past.
Zero income was not shocking, as the corporate doesn’t count on to check out its SSBs on EV platforms till 2026. Nevertheless, 2026 is manner out sooner or later, and a significant investor is now rising inpatient. Let’s get into the main points.
Khosla Ventures Cuts QS Inventory Stake
As of December 31, Khosla Ventures reported proudly owning 24.83 million shares, equal to a 6.6% possession stake. In keeping with Fintel, the enterprise capital agency final reported proudly owning 35.44 million shares, which signifies that it offered 10.61 million shares because the final replace. Khosla itself has not supplied commentary for the discount, though QuantumScape has fallen by greater than 40% in the course of the previous yr.
As of This autumn, 320 13F filers disclosed a stake in QS, up from 306 filers throughout Q3. In whole, these filers personal 126.12 million shares, up from 113.78 million shares. In the meantime, the institutional put/name ratio sits at a low 0.65, down from 1.09. That’s equal to 7.36 million places and 11.3 million calls, implying a bullish choices stance.
For QuantumScape, progress continues to steadily development up. Throughout 2022, the corporate accomplished its purpose of delivery out the primary 24-layer A0 prototype battery cells to clients. QuantumScape defined, “Whereas particular buyer testing protocols and outcomes can’t be disclosed, we are able to report that typically, most cells have carried out effectively on preliminary testing, together with quick cost and early-cycle capability retention.”
Final yr, QuantumScape additionally signed sampling agreements with three extra automakers. The corporate started delivery out 24-layer A0 pattern cells to some automakers final December.
For 2023, QuantumScape forecasts capital expenditures between $100 million and $150 million and money working bills between $225 million and $275 million. As well as, QuantumScape has sufficient money to maintain operations till Q2 of 2025, in comparison with earlier estimates of This autumn of 2024.
On the date of publication, Eddie Pan didn’t maintain (both straight or not directly) any positions within the securities talked about on this article. The opinions expressed on this article are these of the author, topic to the InvestorPlace.com Publishing Tips.
