QS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-24

• In 2025 we integrated our higher throughput separator production process into baseline cell production. Our Cobra separator process is intended to improve throughput, efficiency, footprint, and scalability of our separator production. We are focused on the throughput and capability of our pilot line…

• The decrease in research and development expense in the three months ended June 30, 2026 compared to the three months ended June 30, 2025 primarily resulted from a decrease of $13.6 million in impairment loss, a decrease of $5.6 million in depreciation and amortization and a decrease of $2.1 million…

• The decrease in research and development expense in the six months ended June 30, 2026 compared to the six months ended June 30, 2025 primarily resulted from a decrease of $13.0 million in impairment loss, a decrease of $8.3 million in depreciation and amortization, a decrease of $5.2 million in non…

• The increase in general and administrative expenses in the three months ended June 30, 2026 compared to the three months ended June 30, 2025 primarily resulted from an increase of $0.9 million in professional service fees and office administration costs.

• The decrease in general and administrative expenses in the six months ended June 30, 2026 compared to the six months ended June 30, 2025 primarily resulted from a decrease of $3.8 million in non-cash stock-based compensation expense, primarily offset by an increase of $1.3 million in professional se…

Text removed vs the prior filing · source: 10-Q · 2026-04-24

• We are focused on the throughput and capability of our pilot line in San Jose, California. As part of the continued expansion of our throughput we are automating our production process and purchasing higher throughput battery-cell production equipment.

• The decrease in research and development expense in the three months ended March 31, 2026 compared to the three months ended March 31, 2025 primarily resulted from a non-cash stock-based compensation expense decrease of $6.1 million primarily due to full amortization of awards, forfeitures and lower…

• The decrease in general and administrative expenses in the three months ended March 31, 2026 compared to the three months ended March 31, 2025 primarily resulted from a non-cash stock-based compensation expense decrease of $4.0 million primarily due to full amortization of awards, forfeitures and lo…

• The decrease in interest income during the three months ended March 31, 2026 compared to the three months ended March 31, 2025 was mainly due to the decrease in interest rates.

• Other income (expense) for the three months ended March 31, 2026 and the three months ended March 31, 2025, respectively, are not material individually or in aggregate.

Text added vs the prior filing · source: 10-Q · 2026-07-24

• As we expand our engagements with multiple customers, including beyond the automotive market, we may need to support different technical requirements, qualification processes, product configurations, and timelines. These activities may require significant engineering and operational resources and co…

• In July 2025, we entered into the PowerCo Amendment and a statement of work outlining the scope and responsibilities of the joint scale-up team. As part of the PowerCo Amendment, the terms of the PowerCo IP License Agreement have been amended to provide PowerCo the right to produce up to an addition…

• We face various risks related to epidemics, pandemics, and other outbreaks. Pandemics have previously and may in the future result in changes in consumer and business behavior. Epidemics, pandemics or other outbreaks have impacted and may in the future impact our potential customers and our supplier…

• The extent to which any such epidemic, pandemic or other outbreak would impact our business, prospects and results of operations will depend on future developments, which are highly uncertain and cannot be predicted. Even after any such epidemic, pandemic or other outbreak has subsided, we may conti…

Text removed vs the prior filing · source: 10-Q · 2026-04-24

• On July 17, 2025, we entered into the PowerCo Amendment and a statement of work outlining the scope and responsibilities of the joint scale-up team. PowerCo has agreed that it will contribute up to $130.7 million for the Project over the next two years, subject to the completion of certain technical…

• We face various risks related to epidemics, pandemics, and other outbreaks. Pandemics have previously and may in the future result in changes in consumer and business behavior. The spread of COVID-19, for instance, impacted our potential customers and our suppliers by disrupting the manufacturing, d…

• The extent to which any such epidemic, pandemic or other outbreak would impact our business, prospects and results of operations will depend on future developments, which are highly uncertain and cannot be predicted, including the duration and spread of any such epidemic, pandemic or other outbreak,…

Text added vs the prior filing · source: 10-Q · 2026-07-24

• On June 10, 2026, Dr. Timothy Holme, our Chief Technology Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 3,381,234 shares of our Class A Common Stock. The trading arrangement is intended to satisfy the affirmative defense in Rule …

• On June 5, 2026, Kevin Hettrich, our Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 426,000 shares of our Class A Common Stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(…

• No other officers or directors, as defined in Rule 16a-1(f), adopted and/or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the last fiscal quarter.

• We are providing the following disclosures in lieu of filing a Current Report on Form 8-K relating to Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers):

• On July 22, 2026, we and Dr. Timothy Holme, our Chief Technology Officer, agreed to a temporary modified work arrangement for the period from August 2026 through May 2027, after which he will resume his full responsibilities. The arrangement will allow Dr. Holme to spend an extended period with his …