Benzinga14h ago

QuantumScape shares fall 4.77% premarket after PowerCo cuts milestone payment cap to about $75 million

QuantumScape reported a second-quarter adjusted loss of 16 cents per share, narrower than analysts’ estimate of an 18-cent loss, according to Benzinga Pro. Its adjusted EBITDA loss widened to $64.2 million, while customer billings came in at $10.8 million. The company said the maximum potential milestone payments under its revised agreement with Volkswagen’s PowerCo were reduced by 57% to about $75 million, and it ended the quarter with $859 million in liquidity.

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