The battery maker posted a narrower Q2 net loss of $98.2M as it expands beyond EV batteries into AI data centers and defense.
QuantumScape reported a second-quarter net loss of $98.2M, an improvement from the $114.7M loss in the same period last year. The company is diversifying its revenue streams by targeting AI data centers, aerospace, and defense sectors beyond its core electric vehicle battery business.
The narrower loss reflects ongoing efforts to scale production and reduce costs, though the company remains unprofitable. QuantumScape’s pivot to high-growth markets like AI and defense comes as competition in the EV battery space intensifies.
Shares slipped in after-hours trading as investors assessed the earnings report and the company’s broader strategic shift.