QS Stock: Insider Activity, Filings & Research

QuantumScape Corporation (QS) — Drillr’s hub for QS insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, QS insiders filed 0 open-market buys and 13 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$4.5M

Insider trades by month Buys Sells

Dec

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May

Context3-month price +25.1%Institutions accumulating (13F)

Date	Insider	Type	Shares	Price
May 22, 2026	Hettrich Kevinofficer: CHIEF FINANCIAL OFFICER	Sell	9,800	$8.06
May 22, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Sell	92,972	$8.23
May 22, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Sell	25,445	$8.23
May 20, 2026	Sivaram Srinivasandirector, officer: CHIEF EXECUTIVE OFFICER	Tax	67,369	$7.37
May 20, 2026	Fasoli Luca Giovanniofficer: Chief Operating Officer	Tax	108,065	$7.37
May 20, 2026	Hettrich Kevinofficer: CHIEF FINANCIAL OFFICER	Tax	30,535	$7.37
May 20, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Tax	31,322	$7.37
May 20, 2026	MCCARTHY MICHAEL O IIIofficer: CHIEF LEGAL OFFICER	Tax	24,211	$7.37
May 20, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Sell	34,254	$7.50
May 20, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Sell	150,183	$7.50
May 20, 2026	Singh Mohitofficer: CHIEF DEVELOPMENT OFFICER	Tax	31,913	$7.32
May 14, 2026	Straubel Jeffrey Bdirector	Sell	27,106	$7.85
May 8, 2026	Singh Mohitofficer: CHIEF DEVELOPMENT OFFICER	Sell	50,000	$7.87
Apr 16, 2026	Holme Timothyofficer: CHIEF TECHNOLOGY OFFICER	Grant	109,792	—
Apr 16, 2026	Hettrich Kevinofficer: CHIEF FINANCIAL OFFICER	Grant	430,266	—

Source: QS SEC Form 4 filings, latest May 22, 2026. For informational purposes only — not investment advice.

Overview

QuantumScape Corporation (NYSE:QS) is a development-stage company founded in 2010 and headquartered in San Jose, California. The company went public in August 2020 through a SPAC merger. QuantumScape is focused on developing and commercializing solid-state lithium-metal battery technology primarily for electric vehicles, representing a potential breakthrough in battery technology that could address key limitations of current lithium-ion batteries used in EVs today.

Business

QuantumScape operates in the advanced battery technology sector, specifically developing solid-state lithium-metal batteries for electric vehicles and other applications. To understand what makes this significant, it's important to know that current electric vehicles use traditional lithium-ion batteries, which have several limitations including slower charging times, lower energy density, and safety concerns related to thermal runaway. The company's core product is a revolutionary battery cell design that replaces the liquid electrolyte found in conventional lithium-ion batteries with a solid ceramic separator. This solid-state approach allows the use of a lithium-metal anode instead of the graphite anodes used in traditional batteries. The result is a battery that can theoretically store more energy in less space, charge much faster, and operate safely at extreme temperatures. QuantumScape's flagship product under development is the QSE-5 cell, a 5 amp-hour battery cell that demonstrates energy density of 844 watt-hours per liter - significantly higher than conventional lithium-ion batteries. The technology enables charging from 10% to 80% capacity in just over 12 minutes, operates at temperatures as low as -30 degrees Celsius, and maintains thermal stability up to 300 degrees Celsius. The company operates as a single business segment focused entirely on this solid-state battery technology development, with no current revenue from product sales as they remain in the pre-commercial development phase.

Revenue model

QuantumScape's business model is built around technology licensing rather than traditional manufacturing and product sales. The company plans to generate revenue primarily through licensing its solid-state battery technology to automotive manufacturers and battery producers, who will then build and operate the actual manufacturing facilities. The landmark agreement with PowerCo (Volkswagen Group's battery company) exemplifies this model. QuantumScape received a $130 million royalty prepayment and will earn ongoing royalties from PowerCo's production of batteries using QuantumScape's technology. The license covers initial production capacity of 40 gigawatt-hours, expandable to 80 gigawatt-hours. This capital-light approach allows QuantumScape to focus on technology development while partners handle the capital-intensive manufacturing scale-up. The company's paying customers are expected to be large automotive original equipment manufacturers (OEMs) and battery manufacturers who need advanced battery technology to compete in the electric vehicle market. QuantumScape currently has sampling agreements with six automotive customers and is in discussions with additional OEMs beyond its PowerCo partnership. Several factors could impact QuantumScape's future margins and success. Positive factors include the growing global push toward electric vehicle adoption, increasingly stringent emissions regulations, and the automotive industry's need for better battery technology to achieve longer range and faster charging. However, the company faces risks from competing battery technologies, the challenge of scaling production while maintaining quality and reliability, potential delays in electric vehicle adoption, and the significant capital requirements of battery manufacturing partners.

Competitive moat

QuantumScape's potential moat lies in its proprietary solid-state battery technology and the significant technical barriers to entry in this field. The company has developed specialized ceramic separator materials and manufacturing processes that are protected by intellectual property, and the complexity of solid-state battery development creates high switching costs for partners who invest in the technology. However, the strength of this moat remains unproven since the company has not yet reached commercial production. The solid-state battery field is highly competitive, with major players including Toyota, Samsung, and numerous well-funded startups all pursuing similar technologies. Traditional lithium-ion battery technology continues to improve, potentially reducing the competitive advantage of solid-state alternatives. The company's partnership approach could both strengthen and weaken its moat. While licensing agreements with major automotive players like Volkswagen provide validation and market access, they also mean QuantumScape must share its technology with partners who could potentially develop competing solutions. The success of the moat will ultimately depend on QuantumScape's ability to maintain technological leadership and execute successful commercialization before competitors achieve similar breakthroughs.

Risks & safety

QuantumScape presents a mixed margin of safety profile with strong liquidity but significant operational risks. • **Cash Position**: Strong with $910.8 million in liquidity at end of 2024, providing runway into second half of 2028 • **Debt Level**: Minimal debt with debt-to-equity ratio of 0.08, indicating low financial leverage risk • **Current Ratio**: Excellent at 14.2x, showing strong ability to meet short-term obligations • **Cash Burn**: High quarterly operating cash outflow of approximately $60-70 million, though manageable given cash reserves • **Valuation Metrics**: Not meaningful given zero revenue and development stage • **Solvency Risk**: Low in near term due to strong balance sheet, but dependent on successful commercialization for long-term viability • **Other Considerations**: Company remains pre-revenue with execution risk on technology commercialization and scaling

Recent development

Over the past few years, QuantumScape has made significant progress transitioning from early-stage research to advanced prototype development and strategic partnerships. The company successfully developed its QSE-5 solid-state battery cells, achieving key performance milestones including 844 watt-hours per liter energy density and 12-minute fast charging capability. A major strategic pivot occurred with the landmark PowerCo licensing agreement in 2024, which validated the company's capital-light business model and provided $130 million in upfront payments. This partnership established a joint development team of approximately 150 experts focused on industrializing the technology for commercial production. The company has advanced its manufacturing capabilities by developing two key separator production processes: the Raptor process (currently implemented) and the more advanced Cobra process (planned for 2025). QuantumScape has also expanded its customer engagement, shipping Alpha-2 prototype cells to multiple automotive and consumer electronics customers and maintaining sampling agreements with six automotive OEMs. Recent developments include the production of B0 samples of QSE-5 cells, representing the first anode-free solid-state lithium metal cells for automotive applications. The company has also undergone leadership changes, with Dr. Siva Sivaram becoming CEO while founder Jagdeep Singh transitioned to Chairman, bringing manufacturing expertise to guide the commercialization phase.

QS company profile · for informational purposes only — not investment advice.

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