QuantumScale Corporation Narrows Q1 Net Loss to $100.8M as R&D Spending Falls 12%
The solid-state battery developer reported a net loss of $100.8 million for the three months ending March 31, 2026, compared to a $114.4 million loss in the same quarter a year earlier. The company reported no revenue for the period.
QuantumScale Corporation, a Delaware-incorporated developer of solid-state lithium-metal batteries, posted a net loss of $100.8 million for the quarter ending March 31, 2026, an improvement from the $114.4 million loss recorded in the first quarter of 2025. The company reported no revenue for either period. Read more earnings reports.
Operating expenses fell to $109.2 million from $123.6 million in the prior-year quarter, driven primarily by a reduction in research and development spending. R&D expenses declined 12% to $84.6 million from $95.6 million, while labor and related expenses edged down to $36.0 million from $37.9 million.
Cash consumption remained elevated despite the narrower loss. The company burned $59.5 million in operating activities during the quarter, roughly flat compared to $60.7 million in the first quarter of 2025. Cash from investing activities posted a negative $25.7 million, a sharp reversal from the $62.0 million inflow in the year-ago period when the company was unwinding investments.
QuantumScale's cash and cash equivalents stood at $145.1 million as of March 31, 2026, down from $230.5 million at the end of December 2025 and $153.6 million a year earlier. Short-term investments totaled $590.7 million, effectively unchanged from $590.8 million at year-end.
Total assets declined to $1.23 billion from $1.31 billion at the end of the prior quarter. Property, plant and equipment dropped to $240.2 million from $251.4 million, reflecting ongoing depreciation and minimal capital additions. Total liabilities fell to $119.4 million from $139.2 million, with accounts payable declining to $7.4 million from $11.8 million.
Stockholders' equity contracted to $1.11 billion from $1.17 billion at year-end. The company's accumulated deficit deepened to $3.89 billion from $3.79 billion as the quarterly loss added to cumulative losses. Basic and diluted loss per share improved to $0.16 from $0.21 in the prior-year quarter, based on a weighted average share count of 611.0 million shares versus 548.0 million shares.
| Financial Metric | Q1 2026 | Q1 2025 |
|---|---|---|
| Revenue | $0 | $0 |
| Operating Expenses | $109.2M | $123.6M |
| R&D Expenses | $84.6M | $95.6M |
| Operating Loss | ($109.2M) | ($123.6M) |
| Net Loss | ($100.8M) | ($114.4M) |
| Loss Per Share (Basic & Diluted) | ($0.16) | ($0.21) |
| Cash from Operations | ($59.5M) | ($60.7M) |
| Cash & Equivalents (End of Period) | $145.1M | $153.6M |
The pre-revenue company continues to invest heavily in battery technology development while managing a declining cash position. Current assets totaled $915.9 million as of March 31, 2026, down from $981.6 million at the end of 2025, providing a cushion against current liabilities of $43.8 million.