QuantumScape (QS) Operating Expenses (2020 - 2026)
QuantumScape (QS) posted Operating Expenses of $106.13 million for Q2 2026, down 14.1% from $123.59 million a year earlier and down 2.8% from the prior quarter.
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Analysis
QuantumScape (QS) Operating Expenses (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at QuantumScape was $440.75 million, down 12.9% year-over-year; for FY2025, it came in at $472.6 million, down 10.0% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 42.3% (FY2020 to FY2025).
- In prior years, QuantumScape's Operating Expenses was $525.21 million in FY2024 (+9.6%), $479.03 million in FY2023 (+13.9%), $420.62 million in FY2022 (+95.4%) and $215.27 million in FY2021 (+165.7%).
- The Q2 2026 figure stands as the lowest quarterly Operating Expenses since Q2 2022.
- On a year-over-year basis, Operating Expenses has declined in each of the last six quarters, with an average decline of 6.9% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q3 2021, with growth of 160.2%; the weakest was Q4 2025, with a decline of 14.2%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $109.18 million (Q1 2026), $110.45 million (Q4 2025) and $114.99 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 256.40 Bn | 217.48 Bn | 2.36 Bn | 1.71 Bn |
| 2 | Bloom Energy | 85.45 Bn | 77.27 Bn | 355.57 Mn | 173.34 Mn |
| 3 | First Solar | 19.01 Bn | 9.97 Bn | 605.00 Mn | 154.62 Mn |
| 4 | BWX Technologies | 12.64 Bn | 10.94 Bn | 202.31 Mn | 811.92 Mn |
| 5 | Generac Holdings | 12.53 Bn | 11.36 Bn | 521.81 Mn | 311.38 Mn |
| 6 | Nextpower | 12.03 Bn | 7.92 Bn | 335.85 Mn | 144.95 Mn |
| 7 | EnerSys | 6.62 Bn | 4.81 Bn | 313.36 Mn | 151.24 Mn |
| 8 | Enphase Energy | 4.21 Bn | -653.40 Mn | 175.01 Mn | 123.50 Mn |
| 9 | Mirion Technologies | 3.51 Bn | 1.39 Bn | 133.10 Mn | 115.20 Mn |
| 10 | QuantumScape | 2.83 Bn | 2.83 Bn | - | 106.13 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 106.13 Mn |
| Mar 31, 2026 | 109.18 Mn |
| Dec 31, 2025 | 110.45 Mn |
| Sep 30, 2025 | 114.99 Mn |
| Jun 30, 2025 | 123.59 Mn |
| Mar 31, 2025 | 123.58 Mn |
| Dec 31, 2024 | 128.69 Mn |
| Sep 30, 2024 | 130.16 Mn |
| Jun 30, 2024 | 134.46 Mn |
| Mar 31, 2024 | 131.90 Mn |
| Dec 31, 2023 | 124.64 Mn |
| Sep 30, 2023 | 120.87 Mn |
| Jun 30, 2023 | 123.54 Mn |
| Mar 31, 2023 | 109.98 Mn |
| Dec 31, 2022 | 113.43 Mn |
| Sep 30, 2022 | 120.65 Mn |
| Jun 30, 2022 | 95.87 Mn |
| Mar 31, 2022 | 90.66 Mn |
| Dec 31, 2021 | 67.14 Mn |
| Sep 30, 2021 | 53.83 Mn |
API Access
QuantumScape Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=QS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "QS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=QS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();