QuantumScape Files 2024 10-K, Details Battery Tech Progress
Ticker: QS · Form: 10-K · Filed: 2025-02-26T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, battery-technology, automotive
TL;DR
QS 2024 10-K is in. Still burning cash on battery tech, but progress is key.
AI Summary
QuantumScape Corp. filed its 2024 10-K on February 26, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly Kensington Capital Acquisition Corp., is focused on developing advanced battery technology. The filing details its business operations, financial condition, and risk factors, including its ongoing research and development efforts in solid-state battery technology.
Why It Matters
This filing provides investors and the public with a comprehensive overview of QuantumScape's financial health and strategic direction as it works to commercialize its next-generation solid-state batteries.
Risk Assessment
Risk Level: high — The company is in a high-risk, high-reward phase of developing a novel technology with significant capital requirements and market uncertainty.
Key Numbers
- 102 — Public Document Count (Indicates the comprehensive nature of the filing.)
- 3690 — SIC Code (Identifies the company's industry as Miscellaneous Electrical Machinery, Equipment & Supplies.)
Key Players & Entities
- QuantumScape Corp. (company) — Filer of the 10-K
- Kensington Capital Acquisition Corp. (company) — Former name of QuantumScape Corp.
- 2024-12-31 (date) — Fiscal year end
- 2025-02-26 (date) — Filing date
- 1730 TECHNOLOGY DRIVE, SAN JOSE, CA 95110 (address) — Company business and mailing address
FAQ
What is QuantumScape's primary business focus as detailed in the 10-K?
QuantumScape's primary focus is the development and commercialization of solid-state battery technology.
When did QuantumScape change its name from Kensington Capital Acquisition Corp.?
The company changed its name on May 5, 2020.
What is the company's business address?
The company's business address is 1730 Technology Drive, San Jose, CA 95110.
What is the SIC code for QuantumScape Corp.?
The SIC code for QuantumScape Corp. is 3690, which falls under Miscellaneous Electrical Machinery, Equipment & Supplies.
What is the fiscal year end reported in this 10-K filing?
The fiscal year end reported in this 10-K filing is December 31, 2024.
From the Filing
0000950170-25-027308.txt : 20250226 0000950170-25-027308.hdr.sgml : 20250226 20250226060635 ACCESSION NUMBER: 0000950170-25-027308 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 102 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250226 DATE AS OF CHANGE: 20250226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QuantumScape Corp CENTRAL INDEX KEY: 0001811414 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 850796578 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39345 FILM NUMBER: 25665927 BUSINESS ADDRESS: STREET 1: 1730 TECHNOLOGY DRIVE CITY: SAN JOSE STATE: CA ZIP: 95110 BUSINESS PHONE: (408) 452-2000 MAIL ADDRESS: STREET 1: 1730 TECHNOLOGY DRIVE CITY: SAN JOSE STATE: CA ZIP: 95110 FORMER COMPANY: FORMER CONFORMED NAME: Kensington Capital Acquisition Corp. DATE OF NAME CHANGE: 20200505 10-K 1 qs-20241231.htm 10-K 10-K false FY 0001811414 http://fasb.org/us-gaap/2024#UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember 2024-12-31 2024-12-31 0001811414 us-gaap:ConvertibleDebtSecuritiesMember 2024-12-31 0001811414 qs:ExtraordinaryPerformanceAwardProgramMember us-gaap:CommonClassAMember 2021-01-01 2021-12-31 0001811414 us-gaap:LeaseholdImprovementsMember 2024-01-01 2024-12-31 0001811414 qs:AtTheMarketOfferingMember 2023-02-28 0001811414 qs:PriorToTwoThousandEighteenMember 2024-01-01 2024-12-31 0001811414 us-gaap:CorporateJointVentureMember 2023-12-31 0001811414 qs:ExercisePriceRangeFourMember 2024-12-31 0001811414 us-gaap:CommonStockMember 2023-12-31 0001811414 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001811414 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001811414 us-gaap:RetainedEarningsMember 2021-12-31 0001811414 us-gaap:MachineryAndEquipmentMember srt:MinimumMember 2024-12-31 0001811414 srt:MaximumMember qs:ComputerEquipmentHardwareAndSoftwareMember 2024-12-31 0001811414 us-gaap:PerformanceSharesMember 2022-01-01 2022-12-31 0001811414 us-gaap:CommonClassAMember srt:MaximumMember qs:TwoThousandTwentyEquityIncentiveAwardPlanMember 2024-12-31 0001811414 us-gaap:CommonClassAMember 2024-12-31 0001811414 2023-01-01 2023-12-31 0001811414 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001811414 qs:TwoThousandTwentyEmployeeStockPurchasePlanMember us-gaap:CommonClassAMember 2024-12-31 0001811414 us-gaap:CorporateJointVentureMember 2024-09-30 0001811414 qs:ExercisePriceRangeThreeMember 2024-01-01 2024-12-31 0001811414 us-gaap:MachineryAndEquipmentMember 2024-12-31 0001811414 us-gaap:AccountingStandardsUpdate202307Member 2024-12-31 0001811414 us-gaap:GeneralAndAdministrativeExpenseMember 2024-01-01 2024-12-31 0001811414 qs:JointVentureAgreementMember 2024-01-01 2024-12-31 0001811414 qs:ExtraordinaryPerformanceAwardProgramMember qs:ShareBasedPaymentArrangementNotProbableOfAchievementMember 2024-12-31 0001811414 qs:JointVentureAgreementMember 2024-12-31 0001811414 qs:ExtraordinaryPerformanceAwardProgramMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2024-01-01 2024-12-31 0001811414 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-12-31 0001811414 us-gaap:CommonClassBMember 2023-12-31 0001811414 us-gaap:LeaseholdImprovementsMember 2023-12-31 0001811414 us-gaap:ConvertibleDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001811414 us-gaap:PerformanceSharesMember 2024-12-31 0001811414 us-gaap:RestrictedStockUnitsRSUMember 2023-01-01 2023-12-31 0001811414 qs:ExercisePriceRangeOneMember srt:MaximumMember 2024-12-31 0001811414 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0001811414 qs:ManagementTeamAndCertainOtherEmployeesMember 2024-01-01 2024-12-31 0001811414 qs:ExtraordinaryPerformanceAwardProgramMember 2021-12-01 2021-12-31 0001811414 us-gaap:EmployeeStockOptionMember 2024-01-01 2024-12-31 0001811