1. QuantumScape is shifting to a leaner operational model focused on billings and EBITDA to rebuild investor confidence; 2. Q3 results show improved cash management with a 26-month runway and $12.8M in initial customer billings, marking commercialization progress; 3. Management projects cash sufficiency through 2029, expands partnerships with Ducati and a top 10 global OEM, and initiates a Buy rating with 20% upside potential.