QuantumScape (QS)
Market Price (3/28/2026): $6.25 | Market Cap: $3.8 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment
QuantumScape (QS)
Market Price (3/28/2026): $6.25Market Cap: $3.8 BilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24% | Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -78% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Renewable Energy Transition. Themes include Advanced Battery Components, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -473 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% | ||
| High stock price volatilityVol 12M is 104% | ||
| Key risksQS key risks include [1] the significant challenge of perfecting and scaling its unproven solid-state battery technology from prototype to high-volume commercial production, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Electric Vehicles & Autonomous Driving, and Renewable Energy Transition. Themes include Advanced Battery Components, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -78% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -473 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% |
| High stock price volatilityVol 12M is 104% |
| Key risksQS key risks include [1] the significant challenge of perfecting and scaling its unproven solid-state battery technology from prototype to high-volume commercial production, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Persistent Pre-Revenue Status and Extended Commercialization Timeline: Despite achieving its operational goals for 2025, including the establishment of the Cobra process baseline and the inauguration of its Eagle Line for pilot production, QuantumScape continues to operate without significant revenue. The company reported $19.5 million in customer billings for the full year 2025 but recorded no actual revenue. Analysts anticipate revenue of less than $1 million for 2026, with substantial commercial sales not expected until 2027 and 2028, indicating a prolonged path to market for its solid-state battery technology.
2. Weakening Broader Electric Vehicle (EV) Market Conditions: The overall market for electric vehicles has shown signs of a slowdown, contributing to negative sentiment towards companies tied to the EV sector. New EV sales experienced a 28% decline in the first quarter of 2026, reflecting a challenging demand environment that directly impacts the future prospects of battery technology suppliers like QuantumScape.
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Stock Movement Drivers
Fundamental Drivers
The -48.8% change in QS stock from 11/30/2025 to 3/27/2026 was primarily driven by a -2.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.22 | 6.26 | -48.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 589 | 605 | -2.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
11/30/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| QS | -48.8% | |
| Market (SPY) | -5.3% | 54.9% |
| Sector (XLY) | -10.4% | 34.0% |
Fundamental Drivers
The -21.1% change in QS stock from 8/31/2025 to 3/27/2026 was primarily driven by a -7.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.93 | 6.26 | -21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 562 | 605 | -7.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| QS | -21.1% | |
| Market (SPY) | 0.6% | 43.0% |
| Sector (XLY) | -8.5% | 33.1% |
Fundamental Drivers
The 33.5% change in QS stock from 2/28/2025 to 3/27/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.69 | 6.26 | 33.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 526 | 605 | -13.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2025 to 3/27/2026| Return | Correlation | |
|---|---|---|
| QS | 33.5% | |
| Market (SPY) | 9.8% | 34.0% |
| Sector (XLY) | -1.3% | 30.4% |
Fundamental Drivers
The -34.6% change in QS stock from 2/28/2023 to 3/27/2026 was primarily driven by a -27.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282023 | 3272026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.57 | 6.26 | -34.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 437 | 605 | -27.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2023 to 3/27/2026| Return | Correlation | |
|---|---|---|
| QS | -34.6% | |
| Market (SPY) | 69.4% | 32.6% |
| Sector (XLY) | 49.0% | 33.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| QS Return | -74% | -74% | 23% | -25% | 101% | -38% | -92% |
| Peers Return | 32% | -54% | -29% | -3% | 64% | 4% | -28% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| QS Win Rate | 33% | 25% | 50% | 33% | 42% | 0% | |
| Peers Win Rate | 48% | 42% | 48% | 35% | 52% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| QS Max Drawdown | -77% | -77% | -10% | -32% | -33% | -38% | |
| Peers Max Drawdown | -9% | -64% | -54% | -64% | -55% | -27% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SLDP, ENVX, AMPX, SES. See QS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
| Event | QS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -94.0% | -25.4% |
| % Gain to Breakeven | 1559.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to SLDP, ENVX, AMPX, SES
In The Past
QuantumScape's stock fell -94.0% during the 2022 Inflation Shock from a high on 1/1/2021. A -94.0% loss requires a 1559.1% gain to breakeven.
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About QuantumScape (QS)
AI Analysis | Feedback
Here are 1-3 brief analogies for QuantumScape (QS):
- The Intel of solid-state EV batteries.
- A future LG Chem or CATL, but for revolutionary EV batteries.
- A company aiming to be the Tesla of EV batteries.
AI Analysis | Feedback
```html- Solid-State Lithium-Metal Batteries: These are advanced batteries designed for electric vehicles and other applications, offering potential improvements over traditional lithium-ion batteries.
AI Analysis | Feedback
Major Customers of QuantumScape (QS)
QuantumScape Corporation is a development stage company focused on the development and commercialization of solid-state lithium-metal batteries primarily for electric vehicles. As such, their primary customers are expected to be other companies, specifically automotive manufacturers.
Their most significant strategic partner and anticipated major customer is:
-
Volkswagen Group (Public symbols: VOW.DE, VWAGY)
Volkswagen Group is a major investor and has a long-standing strategic partnership and joint venture (QS-1) with QuantumScape. Volkswagen has been actively involved in testing QuantumScape's battery cells and is expected to be an early adopter of their technology for electric vehicles.
As a development stage company, QuantumScape is still in the process of scaling up production and commercialization, and their current "customer" relationships are primarily strategic partnerships for technology validation and future integration.
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Dr. Siva Sivaram President & Chief Executive Officer
Dr. Sivaram assumed the role of CEO in February 2024, having previously served as President of QuantumScape since September 2023. His extensive background includes serving as President of Technology and Strategy at Western Digital from August 2019 to August 2023, and as Executive Vice President of Memory Technology at SanDisk. He founded and led Twin Creek Technologies, a manufacturer specializing in novel solar cells, for five years. Dr. Sivaram also held leadership positions at Intel and Matrix Semiconductor, a pioneer in 3D semiconductors. He was also an entrepreneur-in-residence at Crosslink Capital and XSeed Capital.
Kevin Hettrich Chief Financial Officer
Mr. Hettrich has served as QuantumScape's Chief Financial Officer and Head of Business Operations since September 2018, having joined the company in 2012. His prior roles at QuantumScape included Vice President of Business Operations, Senior Director of Finance and Product Management, Director of Product Management, and Manager of Product Management. Before joining QuantumScape, Mr. Hettrich worked as a Private Equity Associate at Bain Capital from September 2007 to July 2009. He also served as a Business Analyst at McKinsey & Company from September 2004 to July 2007.
Timothy Holme Co-founder & Chief Technology Officer
Dr. Holme is a Co-founder of QuantumScape and has served as its Chief Technology Officer since January 2011. Prior to co-founding QuantumScape, he was a Research Associate at Stanford University from June 2008 to January 2011. His doctoral research at Stanford focused on the materials science and electrochemistry of energy conversion and storage devices.
Mohit Singh Chief Development Officer
Dr. Singh has served as QuantumScape's Chief Development Officer since June 2015. Previously, he was the Vice President, Research and Development and Engineering from April 2014 to June 2015. From 2004 to 2007, Dr. Singh conducted post-doctorate research in Chemical Engineering at the Lawrence Berkeley National Laboratory for the University of California, Berkeley.
Michael O. McCarthy Chief Legal Officer & Head of Corporate Development
Mr. McCarthy has served as QuantumScape's Chief Legal Officer and Head of Corporate Development since March 2013. Before joining QuantumScape, he was the Chief Administrative Officer at Infinera Corporation from April 2003 to March 2013. Prior to that, he served as Senior Vice President and General Counsel of Ciena Corporation from September 1997 to April 2003. He currently serves on the boards of several privately-held companies.
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Key Risks to QuantumScape (QS)
- Commercialization and Manufacturing Challenges: QuantumScape is a development-stage company that has not yet generated significant revenue from its core operations and has accumulated substantial financial losses. The most significant risk is the challenge of scaling up the production of its solid-state batteries from laboratory settings to consistent, high-volume manufacturing for automotive applications. This involves overcoming complex technical hurdles in manufacturing its proprietary ceramic separators and ensuring overall battery assembly achieves high yield, performance, and cost-effectiveness at an industrial scale.
- Intense Competition and Risk of Technological Obsolescence: The electric vehicle battery market is highly competitive. QuantumScape faces significant competition from numerous established players (e.g., Toyota, Samsung SDI, LG Chem, BYD) and other startups that are also actively developing solid-state battery technology or rapidly advancing conventional lithium-ion battery performance. There is a risk that competitors could achieve commercial mass production sooner, offer alternative or more cost-effective solutions, or that advancements in traditional lithium-ion technology could diminish the competitive advantage of QuantumScape's solid-state batteries.
- Reliance on Partnerships and Funding: While strategic partnerships, particularly with Volkswagen (PowerCo), are critical for QuantumScape's path to commercialization and provide significant investment, there is an inherent risk in relying heavily on these relationships for technology validation, development, and eventual market penetration. As a pre-revenue company incurring ongoing losses, QuantumScape also depends on external funding to finance its extensive research, development, and scaling efforts, with continued share dilution being a potential concern for investors.
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The accelerating progress and public announcements of well-resourced competitors in the solid-state battery space. This includes major automotive OEMs (e.g., Toyota), who have recently announced significant breakthroughs and specific timelines for commercializing their own solid-state batteries (e.g., by 2027-2028). It also includes established battery giants (e.g., CATL, Samsung SDI, LG Energy Solution) and other funded solid-state startups (e.g., Solid Power, Factorial Energy) which are actively developing and securing partnerships for competing solid-state technologies, directly threatening QuantumScape's market position and ability to commercialize at scale.AI Analysis | Feedback
QuantumScape Corporation develops and commercializes solid-state lithium-metal batteries for electric vehicles and other applications. The addressable markets for their main products and services are significant and rapidly growing globally. The global solid-state battery market was valued at USD 1.81 billion in 2024 and is projected to reach USD 22.707 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 32.45% from 2025 to 2033. Another estimate indicates the global solid-state battery market is expected to grow from USD 1.67 billion in 2025 to USD 48.23 billion by 2035, with a CAGR of 39.98% from 2025-2035. Focusing specifically on electric vehicles, a primary application for QuantumScape's technology, the global electric vehicle solid-state battery market was estimated at USD 147.4 million in 2024. This market is expected to grow significantly, reaching USD 17.2 billion by 2034, at a CAGR of 51.4% from 2025 to 2034. Another projection for the global electric vehicle solid-state battery market anticipates it will be valued at USD 0.37 billion in 2025 and is projected to reach USD 1.9 billion by 2035, growing at a CAGR of 18% from 2025 to 2035. For the broader category of lithium metal solid-state batteries, the global market size was valued at USD 1.15 billion in 2024 and is projected to grow to USD 2.91 billion by 2034, with a CAGR of 16.6% during the forecast period. The overall lithium metal battery industry is anticipated to exceed US$13 billion by 2035, with electric vehicle deployments accounting for approximately 78% of this market. Beyond electric vehicles, QuantumScape's technology also has potential applications in consumer electronics and wearables. The wearable technology sector alone presents an addressable market opportunity of USD 2.7 billion by 2027 for thin, flexible battery formats. The consumer and portable electronics sub-segment accounted for the largest market share of 36.12% in the solid-state battery market. In the United States specifically, annual spending on electric batteries is projected to grow to USD 30 billion by 2032. If QuantumScape were to capture a 25% market share of the projected 4.1 million U.S. passenger EV sales by 2030, this could represent a USD 10 billion revenue opportunity for the company. The company has also projected 90 GWh of production capacity, which could generate approximately USD 11 billion in gross revenue.AI Analysis | Feedback
QuantumScape Corporation (QS) is a development-stage company focused on bringing solid-state lithium-metal batteries to market. Its future revenue growth over the next 2-3 years is primarily driven by the following factors:1. Commercialization and Adoption of QSE-5 Solid-State Batteries
The successful commercialization and broad adoption of QuantumScape's proprietary QSE-5 solid-state lithium-metal batteries are the foundational drivers of future revenue. As a pre-revenue company, generating substantial income hinges on moving from development and sampling to mass production and integration into electric vehicles and other applications.
2. Expansion of Licensing Agreements and Strategic Partnerships
QuantumScape is pursuing a capital-light licensing model, where its technology is licensed to automotive original equipment manufacturers (OEMs) and other partners for production. The existing partnership with Volkswagen's PowerCo SE, including potential milestone payments, is a key component. Expanding these licensing agreements to include additional major automotive OEMs will significantly contribute to revenue growth.
3. Scaling of Manufacturing Capabilities (Eagle Line and Cobra Process)
The successful ramp-up of the Eagle Line pilot production facility and the integration of the "Cobra" separator production process are critical for demonstrating scalable, repeatable commercial manufacturing. These advancements are essential for producing batteries at a volume and cost that meet the demands of partners, thereby enabling revenue generation from licensed production or direct sales.
4. Achievement of Performance Milestones through B-Sample Testing
Successful validation and field testing of QSE-5 cells in real-world vehicle environments ("B-samples") are vital. Meeting key performance specifications, such as high energy density (over 800 Wh/L) and rapid charging times (10% to 80% in 12 minutes), will trigger milestone payments from existing partners like PowerCo and validate the technology for other potential OEM customers, opening avenues for further revenue generation.
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Share Issuance
- QuantumScape completed underwritten public offerings in March 2021 and August 2023.
- The total shares outstanding for QuantumScape have increased by 63% since the company went public.
Inbound Investments
- Volkswagen (PowerCo) has made multiple equity investments in QuantumScape.
- In July 2025, PowerCo committed up to $131 million in milestone-based payments over the subsequent two years for the development of the QSE-5 pilot line in San Jose.
- QuantumScape recorded its first customer billings of $19.5 million in 2025, primarily from Volkswagen's PowerCo for joint development work, which were directly recorded to shareholders' equity.
Capital Expenditures
- Capital expenditures for the full year 2025 were $36.3 million.
- Projected capital expenditures for 2026 are expected to be between $40 million and $60 million.
- The primary focus of these capital expenditures is on advancing technology, acquiring facilities and equipment for the Eagle Line manufacturing prototype, and scaling the production of solid-state batteries.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02272026 | MBLY | Mobileye Global | Dip Buy | DB | Cash/EquityDip Buyer with High Net Cash % EquityBuying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation | 0.0% | 0.0% | 0.0% |
| 02202026 | SAH | Sonic Automotive | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -5.9% | -5.9% | -6.1% |
| 02132026 | MAT | Mattel | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 2.9% | 2.9% | 0.0% |
| 02132026 | SONO | Sonos | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.7% | -0.7% | -4.6% |
| 02062026 | DECK | Deckers Outdoor | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.6% | 1.6% | -0.8% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.23 |
| Mkt Cap | 1.1 |
| Rev LTM | 21 |
| Op Inc LTM | -101 |
| FCF LTM | -84 |
| FCF 3Y Avg | -86 |
| CFO LTM | -73 |
| CFO 3Y Avg | -65 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 136.8% |
| Rev Chg 3Y Avg | 87.7% |
| Rev Chg Q | 69.8% |
| QoQ Delta Rev Chg LTM | 9.4% |
| Op Mgn LTM | -464.8% |
| Op Mgn 3Y Avg | -526.6% |
| QoQ Delta Op Mgn LTM | 14.3% |
| CFO/Rev LTM | -288.7% |
| CFO/Rev 3Y Avg | -347.4% |
| FCF/Rev LTM | -324.1% |
| FCF/Rev 3Y Avg | -461.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.1 |
| P/S | 32.8 |
| P/EBIT | -8.3 |
| P/E | -7.2 |
| P/CFO | -11.9 |
| Total Yield | -13.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -8.9% |
| D/E | 0.0 |
| Net D/E | -0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -15.0% |
| 3M Rtn | -35.0% |
| 6M Rtn | -46.9% |
| 12M Rtn | 84.2% |
| 3Y Rtn | -16.4% |
| 1M Excs Rtn | -6.0% |
| 3M Excs Rtn | -28.6% |
| 6M Excs Rtn | -43.1% |
| 12M Excs Rtn | 45.2% |
| 3Y Excs Rtn | -78.4% |
Price Behavior
| Market Price | $6.26 | |
| Market Cap ($ Bil) | 3.7 | |
| First Trading Date | 08/17/2020 | |
| Distance from 52W High | -66.1% | |
| 50 Days | 200 Days | |
| DMA Price | $7.92 | $10.32 |
| DMA Trend | up | down |
| Distance from DMA | -21.0% | -39.4% |
| 3M | 1YR | |
| Volatility | 65.3% | 104.1% |
| Downside Capture | 2.31 | 1.78 |
| Upside Capture | 168.00 | 247.61 |
| Correlation (SPY) | 56.5% | 32.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.90 | 3.05 | 3.11 | 3.45 | 1.73 | 1.84 |
| Up Beta | 6.11 | 5.75 | 4.45 | 3.53 | 1.40 | 1.51 |
| Down Beta | 4.46 | 2.64 | 2.49 | 2.75 | 1.33 | 1.50 |
| Up Capture | 84% | 62% | 118% | 489% | 517% | 1235% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 6 | 14 | 24 | 53 | 116 | 333 |
| Down Capture | 481% | 366% | 375% | 274% | 151% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 15 | 27 | 37 | 70 | 130 | 401 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QS | |
|---|---|---|---|---|
| QS | 33.0% | 104.1% | 0.73 | - |
| Sector ETF (XLY) | 4.6% | 23.6% | 0.13 | 29.3% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 32.7% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 13.1% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 17.6% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 15.9% |
| Bitcoin (BTCUSD) | -21.0% | 44.0% | -0.41 | 35.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QS | |
|---|---|---|---|---|
| QS | -37.6% | 86.7% | -0.17 | - |
| Sector ETF (XLY) | 5.6% | 23.7% | 0.20 | 45.2% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 40.8% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 9.8% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 10.1% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 32.1% |
| Bitcoin (BTCUSD) | 4.7% | 56.6% | 0.30 | 30.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QS | |
|---|---|---|---|---|
| QS | -4.8% | 107.0% | 0.38 | - |
| Sector ETF (XLY) | 11.6% | 21.9% | 0.49 | 34.0% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 29.9% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 4.7% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 7.2% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 25.5% |
| Bitcoin (BTCUSD) | 66.9% | 66.8% | 1.06 | 19.3% |
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/11/2026 | -12.0% | -18.7% | -23.7% |
| 10/22/2025 | 8.0% | 16.6% | -13.7% |
| 7/23/2025 | -1.6% | -31.6% | -38.7% |
| 4/23/2025 | -0.5% | -1.8% | -0.3% |
| 2/12/2025 | 7.0% | 10.4% | -9.7% |
| 10/23/2024 | 25.5% | 2.7% | -2.7% |
| 7/24/2024 | -7.8% | -13.4% | -22.0% |
| 4/24/2024 | -6.9% | -1.3% | 0.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 6 |
| # Negative | 13 | 12 | 14 |
| Median Positive | 13.0% | 12.0% | 6.6% |
| Median Negative | -6.9% | -13.2% | -20.5% |
| Max Positive | 31.4% | 18.6% | 25.6% |
| Max Negative | -17.1% | -31.6% | -38.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 05/02/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/11/2026 | Prior: Q3 2025 Earnings Reported 10/22/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA loss | 250.00 Mil | 262.50 Mil | 275.00 Mil | ||||
| 2026 Capital Expenditures | 40.00 Mil | 50.00 Mil | 60.00 Mil | -77.8% | Lower New | Guidance: 225.00 Mil for 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Straubel, Jeffrey B | Direct | Sell | 11072025 | 16.93 | 157,171 | 2,660,415 | 4,975,385 | Form | |
| 2 | Buss, Brad W | Direct | Sell | 10312025 | 17.98 | 300,000 | 5,392,580 | 2,201,539 | Form | |
| 3 | McCarthy, Michael O Iii | CHIEF LEGAL OFFICER | Direct | Sell | 10312025 | 15.78 | 50,000 | 788,985 | 21,714,729 | Form |
| 4 | McCarthy, Michael O Iii | CHIEF LEGAL OFFICER | Direct | Sell | 10282025 | 15.26 | 46,264 | 706,040 | 21,001,074 | Form |
| 5 | Singh, Mohit | CHIEF DEVELOPMENT OFFICER | Direct | Sell | 10282025 | 15.09 | 220,000 | 3,318,854 | 21,422,509 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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