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BullRush Profile picture
BullRush
@BullRush__
Deep Tech & Growth Investor | Exploring small caps and asymmetric setups. Sharing my deep dives & fundamental research on $QS, $RDDT, $ASTS, $NBIS, $NVTS, $ALM
Mar 30 • 8 tweets • 4 min read
Most people look at $QS and see: no revenue, big losses, spec stock.
They’re missing one chart.
The forward EPS curve has been climbing without interruption since 2022.
Losses per share: -$1.02 → -$0.76 → -$0.67E → -$0.57E
The stock is at $6. The consensus sees $50 by 2029.

Thread on the actual fundamentalsImage $QS ended 2025 with $970.8M in total liquidity.
Breakdown: $230.5M in cash + $740.2M in marketable securities.
Obligations? Almost none. Debt/Equity is an invisible 0.02x. Current ratio is ~15.9x. 
Let's talk dilution: Weighted average shares grew from 525.8M in Q4 2024 to 604.6M in Q4 2025.
Yes, they diluted. But they raised $264M via equity in 2025 to secure this 3-4 year runway. The infrastructure is funded.Image