QuantumScape Corporation (NYSE:QS) Q1 2022 Earnings Conference Call April 26, 2022 5:00 PM ET

Company Participants

John Saager – Head-Investor Relations

Jagdeep Singh – Co-Founder, Chairman and Chief Executive Officer

Kevin Hettrich – Chief Financial Officer

Conference Call Participants

Gabe Daoud – Cowen

Srini Pajjuri – SMBC

George Gianarikas – Baird

Wendy Dong – Deutsche Bank

Chris Snyder – UBS

David Bell – Wolfe Research

Operator

Good day, and welcome to QuantumScape’s Second Quarter 2021 [Sic] [First 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 First 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 and 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 Form 10-K and other SEC filings, including uncertainties voted 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. At the end of 2020, we unveiled single-layer cell data showing a solid-state lithium metal chemistry, we believe is capable of delivering compelling performance benefit over conventional battery chemistries on key metrics such as energy density, our range and charging time. Since then, we have not only shown further advancement of this platform, including repeated 15-minute fast charge and operation with zero fly pressure, but have also demonstrated that we can scale up to multilayer cells using single-layer building blocks.

We continued the steady progress into 2022 by showing our very first 16-layer cell on our February earnings call, and are pleased to note that we have now demonstrated results over 500 cycles with 16 layers under our gold-standard test conditions with energy retention and cycling behavior similar to our single 4-layer and 10-layer cells.