--- title: "QuantumScape Stock (QS) Falls 5% after Q2 Earnings — What Spooked Investors?" type: "News" locale: "en" url: "https://longbridge.com/en/news/293614699.md" description: "QuantumScape (QS) stock fell 5% in pre-market trading following Q2 earnings. Despite a narrower-than-expected loss of $0.16 per share, investors reacted to an early-stage commercial rollout and revised Volkswagen milestone payments dropping from $131 million to $75 million. The company signed a deal with Honda, aims to double cell output by late 2026, and reported rising customer billings. TipRanks AI assigns a Neutral rating with a $5.50 price target." datetime: "2026-07-23T12:00:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293614699.md) - [en](https://longbridge.com/en/news/293614699.md) - [zh-HK](https://longbridge.com/zh-HK/news/293614699.md) --- # QuantumScape Stock (QS) Falls 5% after Q2 Earnings — What Spooked Investors? QuantumScape (QS) stock fell about 5% in pre-market trading on Thursday after the solid-state battery maker reported its second-quarter results. The company posted a loss of $0.16 per share, narrower than the $0.18 loss expected by Wall Street. While QuantumScape reported a smaller-than-expected loss, its commercial rollout is still at an early stage. Investors are waiting to see when its progress with customers will lead to larger-scale production and sales. ### Claim 55% Off TipRanks - Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions - Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks Investors may also be weighing a change to QuantumScape's deal with Volkswagen's (VWAGY) PowerCo. Under the revised agreement, potential milestone payments fell from about $131 million to $75 million. However, the company said related project costs will also fall, making the expected cash impact roughly neutral. ## **Q2 Highlights Beyond Headline Numbers** ### **QuantumScape Expands Its Automaker Deals** During the earnings update, QuantumScape highlighted its growing work with major automakers. The company recently signed a multi-year deal with Honda (HMC) to advance its solid-state battery technology. QuantumScape said the deal followed a "rigorous" review of its technology. The company also updated its licensing deal with Volkswagen's (VWAGY) PowerCo. In addition, it is working with two other top-10 automakers. QuantumScape recently shipped cells to another major carmaker for testing. With more automakers testing its batteries, QuantumScape now needs to show it can make more cells to meet this demand. ### **QuantumScape Plans to Double Cell Output** On that front, management reported progress at its Eagle Line pilot facility. Its main tools are running with uptime above 90%. QuantumScape now plans to double cell output in the second half of 2026. There are also early signs of more business activity. Customer billings reached $10.8 million in Q2 and $21.8 million in the first half. That already tops the $19.5 million recorded for all of 2025. The higher output should help QuantumScape send more cells to customers. It could also speed up testing as the company works toward wider use of its batteries. ## **What Comes Next for QS Stock?** QuantumScape ended Q2 with about $859 million in liquidity. It also lowered its 2026 capital spending forecast to between $27 million and $37 million. Its adjusted EBITDA loss forecast remains at $250 million to $275 million. Investors will now watch whether higher cell output leads to more customer deals and sales. Progress at the Eagle Line could help QuantumScape move from battery testing toward larger-scale production. ## **Is QS Stock a Strong Buy?** According to the TipRanks AI Analyst model, QS stock received a score of 45 out of 100 with a Neutral rating. Further, the AI analyst has set a price target of $5.50 on QuantumScape stock, which implies a downside of nearly 6%. ### Related Stocks - [QS.US](https://longbridge.com/en/quote/QS.US.md) - [QSX.US](https://longbridge.com/en/quote/QSX.US.md) - [QSU.US](https://longbridge.com/en/quote/QSU.US.md) - [HMC.US](https://longbridge.com/en/quote/HMC.US.md) - [VWAPY.US](https://longbridge.com/en/quote/VWAPY.US.md) - [VWAGY.US](https://longbridge.com/en/quote/VWAGY.US.md) - [VOW.DE](https://longbridge.com/en/quote/VOW.DE.md) - [VOW3.DE](https://longbridge.com/en/quote/VOW3.DE.md) - [7267.JP](https://longbridge.com/en/quote/7267.JP.md) ## Related News & Research - [Volkswagen posts presentation for annual general meeting](https://longbridge.com/en/news/295390555.md) - [Volkswagen Backer Porsche SE Calls for Faster Overhaul After $3.5 Billion Hit — Update](https://longbridge.com/en/news/295197034.md) - [Volkswagen to overhaul US strategy with planned pick-up truck, source says](https://longbridge.com/en/news/295231937.md) - [Volkswagen’s new electric era begins with reveal of ID. 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