What is the market's earnings forecast for QuantumScape next quarter?

What does QuantumScape do and what are its main business segments?

What were the key takeaways from QuantumScape's earnings call?

Did QuantumScape beat or miss consensus estimates last quarter?

What is QuantumScape's gross profit margin?

What is the revenue and EPS growth rate for QuantumScape year over year?

What is QuantumScape's latest dividend and current dividend yield?

What were the key takeaways from QuantumScape’s earnings call?

- **Ducati V21L Launch**: Showcased QSE-5 tech in a motorcycle, with field testing underway and series production targeting 2029.
- **Customer Billings Milestone**: $12.8 million in Q3, signaling commercial traction with VW PowerCo and ecosystem partners.
- **Ecosystem Expansion**: Corning and Murata join to scale ceramic separators, supporting QS's capital-light licensing model.
- **Financial Strength**: $263.5 million raised, extending cash runway to 2029; revised EBITDA guidance reflects operational efficiency.

**【CEO Summary Section】**
- Unveiled the Ducati V21L motorcycle with VW Group, showcasing QSE-5 technology in a real-world application. Field testing is the next step.
- Shipped Cobra-based QSE-5 B1 samples, completing a key 2025 goal. Remaining goal: higher-volume cell production on the Eagle Line.
- Expanded commercial engagement: deepened VW collaboration, signed a new JDA with an existing customer, and engaged a new top-10 global OEM.
- Ecosystem expansion: partnered with Corning for ceramic separator manufacturing and advanced collaboration with Murata. Customer billings reached $12.8 million in Q3.

**【CFO Financial Commentary】**
- Q3 GAAP operating expenses: $115 million; adjusted EBITDA loss: $61.4 million. Revised full-year adjusted EBITDA guidance: $245–$260 million.
- Capital expenditures: $9.6 million (Q3), revised full-year guidance: $30–$40 million. Raised $263.5 million via ATM program, extending cash runway to end-2029.
- Introduced customer billings as a key metric: $12.8 million in Q3, primarily from VW PowerCo. Payments from non-related parties will be accounted for differently.

**【Q&A Key Highlights】**
- Ducati program: field testing to gather data; target automotive-grade standards for a series production car by end-2029.
- Ecosystem strategy: Corning and Murata provide ceramic manufacturing expertise, enabling QS to focus on technology development. Third-party ecosystem partners will contribute to long-term value capture.
- Customer billings timing: cash inflows may lag billings due to payment terms and related-party accounting (e.g., VW PowerCo creates offsetting liabilities).
- VW timeline: 2029 series production target aligns with customer roadmaps; no competition with other customers, as each collaboration is tailored.
- New customer progress: active engagement with a top-10 OEM; JDAs with existing customers focus on adapting technology to their needs.

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