QuantumScape Corporation (QS) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.837 Our expectations and beliefs regarding these matters may not materialize. 00:00:03.837 -- 00:00:08.124 Actual results and financial periods are subject to risks and uncertainties that could 00:00:08.124 -- 00:00:12.371 cause actual results to differ materially from those projected. 00:00:12.371 -- 00:00:16.838 There are risk factors that may cause actual results to differ materially from the content 00:00:16.838 -- 00:00:21.105 of our forward-looking statement for the reasons that we cite in our shareholder letter, 00:00:21.105 -- 00:00:26.393 Form 10-K, and other SEC filings, including uncertainties posed by the difficulty 00:00:26.393 -- 00:00:28.735 in predicting future outcomes. 00:00:28.735 -- 00:00:32.099 Joining us today will be QuantumScape CEO, Dr. 00:00:32.099 -- 00:00:37.124 Siva Sivaram, and our CFO, Kevin Hetrick. With that, I'd 00:00:37.124 -- 00:00:39.566 like to turn the call over to Siva. 00:00:39.566 -- 00:00:44.752 Thank you, Dan. Today, we announced an expansion of our 00:00:44.752 -- 00:00:50.117 existing collaboration and licensing agreement with Volkswagen Group's battery 00:00:50.117 -- 00:00:52.618 maker, Powerco. 00:00:52.980 -- 00:00:58.138 This upgraded deal sees Powerco contributing additional payments of 00:00:58.138 -- 00:01:03.726 up to $131 million to QS over the next two years 00:01:03.726 -- 00:01:08.329 to support our joint commercialization activities. 00:01:08.352 -- 00:01:13.639 These payments are connected with certain milestones to be achieved by the joint scale 00:01:13.639 -- 00:01:18.646 of D. The first milestones linked to expected payments of 00:01:18.646 -- 00:01:23.810 more than $10 million have already been achieved. 00:01:24.013 -- 00:01:29.088 These new payments are additional to t...