QuantumScape Corporation (NYSE: QS) posted a third-quarter 2026 loss of 14 cents per share, beating the Zacks Consensus Estimate of an 18-cent loss by 22.22%.

The result marked a meaningful improvement from the 18-cent-per-share loss recorded in the same quarter of 2025, driven by reduced operating and research spending.

The company recorded customer billings of $9.8 million during the quarter, supported by automotive development activities, ecosystem partner payments and cell shipments.

Total operating expenses fell 19.6% year over year to $92.4 million, down from $115 million in the prior-year period.

Research and development expenses dropped 19.8% to $73.9 million from $92.1 million, while general and administrative expenses declined 19.1% to $18.5 million from $22.9 million.

Net loss narrowed to $84.5 million from $105.8 million, and adjusted EBITDA loss came in at $60.7 million, compared with $61.4 million in the third quarter of 2025.

QuantumScape advanced its manufacturing strategy through its Eagle Line pilot production facility, which was inaugurated in February 2026 and is producing increased volumes of QSE-5 solid-state battery cells.

The company announced a partnership with Germany-based Muehlbauer Group to supply cell assembly equipment for a planned 100-megawatt-hour production line, with production targeted to begin in 2028 for AI data centers, aerospace and defense applications.

Management expects equipment costs to remain below $100 million and is exploring nondilutive funding from customers, government programs and ecosystem partners, while continuing to pursue gigawatt-hour-scale production through partnerships with Murata, Corning and Muehlbauer.

QuantumScape launched its QS PowerBlock energy storage reference design on October 8, targeting AI data center applications using QSE-5 cells to deliver high power density and extended runtime for in-rack energy storage.

Testing demonstrated four times the power density and five times the runtime of the Open Compute Project reference specification, with thermal stability above 300 degrees Celsius versus approximately 180 degrees Celsius for conventional lithium-ion batteries.

The company recorded its first customer billings from Honda during the quarter, following a development agreement announced in June focused on integrating its solid-state battery platform into Honda’s technology roadmap.

Beyond Honda and Volkswagen PowerCo, QuantumScape’s active customer engagements include two additional top-10 automotive original equipment manufacturers, and the company also signed an agreement with another global mobility manufacturer.

The company’s advanced solutions unit, QSAS, shipped QSE-5 samples to defense, aviation and telecommunications customers and recorded its first QSAS billings during the quarter, targeting a total addressable market management estimates could reach $75 billion by 2030.

QuantumScape ended September 2026 with $819.8 million in liquidity, including $75.6 million in cash and $744.2 million in marketable securities, while net cash used in operating activities declined to $55.1 million from $63.7 million a year earlier.

Capital expenditures fell to $4.4 million from $9.6 million in the prior-year quarter, reflecting targeted investment in the company’s technology roadmap and related facilities.

For full-year 2026, management reaffirmed its adjusted EBITDA loss guidance of $250 million to $275 million and its capital expenditure guidance of $27 million to $37 million.

Elsewhere in the automotive sector, General Motors (NYSE: GM) reported third-quarter earnings per share of $3.70, up 32.2% year over year, while raising its adjusted automotive free cash flow forecast to $11.5 to $12.5 billion and authorizing a $20 billion multi-year share repurchase program.

Tesla (NASDAQ: TSLA) reported third-quarter adjusted earnings of 48 cents per share, beating estimates by 6.67%, though the figure declined 4% from the prior-year quarter as higher operating expenses weighed on results, and the company trimmed its 2026 capital expenditure outlook to approximately $20 billion from $25 billion.