QuantumScape Corporation (NYSE:QS) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET

Company Participants

John Saager - Head of IR

Jagdeep Singh - Co-Founder, CEO and Chairman

Kevin Hettrich - CFO

Conference Call Participants

Chris Snyder - UBS

Wendy Dong - Deutsche Bank

Jordan Levy - Truist Securities

Ben Kallo - Baird

Operator

Good day, and welcome to QuantumScape’s Third Quarter 2022 Earnings Conference Call. John Saager, QuantumScape’s Head of Investor Relations, you may begin your conference.

John Saager

Thank you, operator. Good afternoon, and thank you to everyone for joining QuantumScape’s third 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. We're pleased to share an update on our progress since our last call. I'd like to start with progress towards our 24-layer A-sample. This sample is our next major milestone, and is intended to demonstrate our commercially relevant battery cell format and a meaningful increase in layer count relative to previous generations of customer samples.

As we discussed on our Q2 earnings call, earlier in the year, we encountered a contaminant in our material. Over this summer, our team focused on identifying the root cause. And as a result of these efforts, we're pleased to report we've dramatically reduced the level of this contaminant in our film.