- QuantumScape press release (NYSE:QS): Q2 GAAP EPS of -$0.22 misses by $0.01.
- Capital expenditures of $27.6M were below guidance of $35M to $65M
- This quarter, the company said it achieved a peak of greater than 5,000 weekly separator film starts
- Outlook: "While we reiterate our cash opex guidance of $225M to $275M for FY’22, we now estimate our capital expenditures to be between $175M and $225M for FY’22 (versus our prior guidance of $325M to $375M) as the drivers of lower Q2 spend also impact full year capex projections. We believe most of the reduction in our forecasted 2022 capex spend will now be pushed into 2023."
- "While we don’t expect linear increases in starts each quarter, we retain our goal of achieving peak weekly starts of 8,000 before the end of the year"