QS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-23

• The decrease in research and development expense in the three months ended September 30, 2026 compared to the three months ended September 30, 2025 primarily resulted from a decrease of $6.8 million in impairment loss, a decrease of $6.8 million in non-cash stock-based compensation expense including…

• The decrease in research and development expense in the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025 primarily resulted from a decrease of $19.8 million in impairment loss, a decrease of $12.1 million in non-cash stock-based compensation expense including…

• The decrease in general and administrative expenses in the three months ended September 30, 2026 compared to the three months ended September 30, 2025 primarily resulted from a decrease of $6.1 million in non-cash stock-based compensation expense including the reversal of previously recognized expen…

• Interest expense remained consistent for the three and nine months ended September 30, 2026 compared to the three and nine months ended September 30, 2025.

• The decrease in interest income during the three and nine months ended September 30, 2026 compared to the three and nine months ended September 30, 2025 was mainly due to the decrease in interest rates.

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

• 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 interest income during the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 was mainly due to the decrease in interest rates.

• Other income (expense) for the three and six months ended June 30, 2026 and the three and six months ended June 30, 2025, respectively, are not material individually or in aggregate.

Text added vs the prior filing · source: 10-Q · 2026-10-23

• We and PowerCo have amended the PowerCo Collaboration Agreement in July 2025 and July 2026, including to amend the terms of the PowerCo IP License Agreement to provide PowerCo the right to produce up to an additional 5 GWh of QS battery cell technology based on QSE-5 annually, including for customer…

• our ability to manage our expansion into new markets and other industries;

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

• 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…

Text added vs the prior filing · source: 10-Q · 2026-10-23

• We are providing the following disclosures in lieu of filing a Current Report on Form 8-K relating to Item 1.01 (Entry into a Material Definitive Agreement):

• On October 21, 2026, we and PowerCo SE (“PowerCo”), a battery cell company wholly owned by the Volkswagen Group, a major investor in the Company, entered into an amendment (the “Amendment”) to the PowerCo Collaboration Agreement to, among other things, remove transition payments due from PowerCo in …

• The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.2.

Text removed 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 …