QuantumScape Corporation (NYSE:QS) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET

Company Participants

John Saager - Head of Investor Relations

Jagdeep Singh - Co-Founder, Chief Executive Officer & Chairman

Kevin Hettrich - Chief Financial Officer

Conference Call Participants

Jordan Levy - Truist Securities

Gabe Daoud - Cowen

Winnie Dong - Deutsche Bank

Chris Snyder - UBS

Mark Delaney - Goldman Sachs

Operator

Good afternoon, and thank you for attending today's QuantumScape Corporation's Fourth Quarter 2022 Earnings Conference Call. My name is Jason, and I'll be the moderator for today's call. All line will be muted during the presentation portion of the call and opportunity for questions and answers at the end. [Operator Instructions]

I would now like to pass the conference over to our host, John Saager.

John Saager

Thank you, operator. Good afternoon, and thank you to everyone for joining QuantumScape’s fourth quarter 2022 earnings call. To supplement today’s discussion, please go to our IR website at ir.quantumscape.com to view our shareholder letter.

Before we begin, I want to call your attention to the safe harbor provision for forward-looking statements that is posted on our website as part of our quarterly update. Forward-looking statements generally relate to future events, future technology progress, or future financial or operating performance. Our expectations and beliefs regarding these matters may not materialize. Actual results and financial periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

There are risk factors that may cause actual results to differ materially from the content of our forward-looking statements for the reasons that we cite in our shareholder letter, Form 10-K and other SEC filings, including uncertainties posed by the difficulty in predicting future outcomes.

Joining us today will be QuantumScape’s Co-Founder, CEO and Chairman, Jagdeep Singh; and our CFO, Kevin Hettrich. Jagdeep will provide a strategic update on the business, and then Kevin will cover the financial results and our outlook in more detail.

With that, I’d like to turn the call over to Jagdeep.

Jagdeep Singh

Thank you, John. In 2022, we made significant advances in our technology, encountered and overcame obstacles, and ultimately achieved our major goal for the year. I'd like to briefly recap our key results in 2022 and provide an overview of our plans for 2023. Our most important goal for 2022 was to ship our first 24-layer A0 prototype battery cells to customers. To achieve this, we needed to incorporate several improvements into our system, from separator film and cathode production to cell assembly, focused on the quality, consistency, and throughput of our designs and processes.