10-Q Filing

QUANTUMSCAPE CORP CIK: 1811414 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-054203`
Period End Date	20200930
Filing Date	20201116
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	kcac-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 26 Income Statement 17 Cash Flow Statement 22 Stockholders Equity 12

Balance Sheet 26 line items

Line Item	Tag	Value	Unit	Period
Temporary equity, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Cash	`Cash`	$1.00M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$285.08K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.29M	USD	Point-in-time
Investments held in Trust Account	`InvestmentsHeldInTrustAccount`	$230.08M	USD	Point-in-time
Total Assets	`Assets`	$231.36M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.24K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Franchise tax payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$90.55K	USD	Point-in-time
Notes payable - related party	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.34M	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionsNonCurrent`	$8.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.39M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock, $0.0001 par value; 21,697,668 shares subject to possible redemption at $10.00 per share	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$216.98M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$231.36M	USD	Point-in-time

Income Statement 17 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.43M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
Administrative expenses - related party	`AdministrativeExpensesRelatedParty`	$60.00K	USD	1 Quarter
Administrative expenses - related party	`AdministrativeExpensesRelatedParty`	$80.00K	USD	2 Qtrs
Franchise tax expense	`FranchisorCosts`	$50.00K	USD	1 Quarter
Franchise tax expense	`FranchisorCosts`	$90.55K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$1.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.54M	USD	1 Quarter
Net gain from investments held in Trust Account	`NetGainFromInvestmentsHeldInTrustAccount`	$75.60K	USD	1 Quarter
Net gain from investments held in Trust Account	`NetGainFromInvestmentsHeldInTrustAccount`	$75.60K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-62.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.53M	USD	2 Qtrs
Weighted average shares outstanding of Class A common stock	`WeightedAverageNumberOfSharesOutstandingBasic`	7.05M	shares	1 Quarter
Weighted average shares outstanding of Class A common stock	`WeightedAverageNumberOfSharesOutstandingBasic`	6.25M	shares	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter

Cash Flow Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$1.53M	USD	2 Qtrs
Net gain from investments held in Trust Account	`NetGainFromInvestmentsHeldInTrustAccount`	$75.60K	USD	1 Quarter
Net gain from investments held in Trust Account	`NetGainFromInvestmentsHeldInTrustAccount`	$75.60K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$285.08K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.24K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.07M	USD	2 Qtrs
Franchise tax payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$90.55K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-709.35K	USD	2 Qtrs
Cash deposited in Trust Account	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$230.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-230.00M	USD	2 Qtrs
Proceeds from issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	2 Qtrs
Proceeds received from note payable to related party	`ProceedsFromNotesPayable`	$75.00K	USD	2 Qtrs
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$230.00M	USD	2 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$6.58M	USD	2 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$4.96M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$231.71M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.00M	USD	2 Qtrs
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.00M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.00M	USD	Point-in-time
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpenses`	$85.00K	USD	2 Qtrs
Deferred underwriting commissions in connection with the initial public offering	`NonCashDeferredUnderwritingCommissionsInConnectionWithInitialPublicOffering`	$8.05M	USD	2 Qtrs
Initial value of common stock subject to possible redemption	`StockIssued1`	$216.98M	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	-	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$13.10M	USD	1 Quarter
Common stock subject to possible redemption	`ValueOfSharesSubjectToPossibleRedemption`	$-1.46M	USD	1 Quarter
Common stock subject to possible redemption	`ValueOfSharesSubjectToPossibleRedemption`	$218.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.53M	USD	2 Qtrs
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	-	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.