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SLDP

Solid Power, Inc.

SLDP

Solid Power, Inc. • NASDAQ
$5.20 ▲ 0.97% (+0.05)
Market Cap $944.68 M
52w High $8.86
52w Low $0.68
Dividend Yield 0%
P/E -9.63
Volume 2.68M
Outstanding Shares 181.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.732M ▼ $24.522M ▲ $-25.867M ▼ -693.114% ▼ $-0.14 $-20.266M ▲
Q2-2025 $6.485M ▲ $23.894M ▼ $-25.338M ▼ -390.717% ▼ $-0.14 ▼ $-21.27M ▼
Q1-2025 $6.016M ▲ $27.349M ▲ $-15.151M ▲ -251.845% ▲ $-0.08 ▼ $-19.488M ▲
Q4-2024 $4.46M ▼ $25.9M ▲ $-30.62M ▼ -686.547% ▼ $0.37 ▲ $-20.551M ▲
Q3-2024 $4.651M $25.269M $-22.419M -482.025% $-0.13 $-23.574M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $251.214M ▲ $416.144M ▲ $34.646M ▲ $381.498M ▲
Q2-2025 $230.933M ▼ $397.995M ▼ $27.224M ▲ $370.771M ▼
Q1-2025 $240.945M ▲ $419.39M ▼ $22.275M ▼ $397.115M ▼
Q4-2024 $118.197M ▼ $448.25M ▼ $37.936M ▲ $410.314M ▼
Q3-2024 $132.01M $470.88M $31.43M $439.45M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-25.867M ▼ $-14.268M ▲ $1.026M ▼ $34.28M ▲ $21.038M ▲ $-14.838M ▲
Q2-2025 $-25.337M ▼ $-14.443M ▲ $14.574M ▼ $-3.337M ▼ $-3.206M ▼ $-17.304M ▲
Q1-2025 $-15.151M ▲ $-26.291M ▼ $30.499M ▲ $-167K ▲ $4.041M ▲ $-29.123M ▼
Q4-2024 $-30.62M ▼ $-13.869M ▼ $2.065M ▼ $-752K ▼ $-12.556M ▼ $-18.699M ▼
Q3-2024 $-22.419M $-9.851M $17.328M $-146K $7.331M $-12.671M

Five-Year Company Overview

Income Statement

Income Statement Solid Power is still essentially a development-stage company with only token revenue so far. The income statement is dominated by research and development and other operating costs, leading to steady operating losses. Losses have widened over time as the company has scaled up its technical programs and partnerships, which is typical for a pre‑commercial technology firm. The one year of positive bottom-line results in the past appears tied more to one-off items around the listing than to any underlying profitability. Overall, the story here is about investing in future potential rather than current earnings power.

Balance Sheet

Balance Sheet The balance sheet shows a company that is asset-rich relative to its tiny revenue base, but with cash that has been drawn down meaningfully since the SPAC listing. Equity still makes up the vast majority of funding, with very little debt, which reduces financial risk but puts the focus on how long the current capital can support operations. Total assets have edged down as cash is spent faster than new capital comes in, though the company has built up physical and intellectual assets in the process. The low leverage gives Solid Power room to maneuver, but the balance sheet will likely need ongoing support if commercialization takes longer than hoped.

Cash Flow

Cash Flow Cash flows reflect a company investing heavily ahead of revenue. Operating cash flow has been consistently negative as R&D, staffing, and scaling activities outweigh limited income from collaborations. Free cash flow is even more negative because of spending on equipment and facilities needed for pilot production and electrolyte scale‑up. This means the business still relies on external funding sources—such as equity raises, partner payments, or grants—rather than self-funding growth from operations. The key question is whether upcoming milestones and partnerships can bridge the gap before additional capital is needed.

Competitive Edge

Competitive Edge Solid Power operates in a highly competitive solid-state battery landscape but has several notable advantages. Its sulfide-based electrolyte, strong patent portfolio, and close partnerships with major automakers and battery makers (such as BMW, Ford, SK On, and a joint evaluation with Samsung SDI and BMW) provide important validation and potential customer channels. A capital-light model—focusing on selling electrolyte and licensing designs rather than building massive factories—could be an advantage if partners successfully scale manufacturing. However, the company faces intense competition from larger, well-funded rivals and from incumbent lithium-ion technology that keeps improving. Execution risk is high: delays, technical setbacks, or partner strategy shifts could quickly erode its current positioning.

Innovation and R&D

Innovation and R&D Innovation is the core of Solid Power’s identity and the main use of its cash. The company is pursuing multiple solid-state architectures—starting with high-silicon cells and aiming for lithium-metal and more advanced chemistries—trying to balance performance, safety, and manufacturability. Its electrolyte is designed to work in modified existing lithium-ion production lines, which, if achieved at scale, could ease adoption. The roadmap from early “A-sample” cells to more mature “B-samples,” plus the planned expansion of electrolyte production capacity, are critical technical and commercial milestones. While partner testing and validation are encouraging, the technology is still pre‑commercial, and there is meaningful uncertainty around timelines, yields, durability in real-world use, and final costs.

Summary

Solid Power is a classic high-risk, high-uncertainty, high-potential story in next-generation EV batteries. Financially, it is pre-revenue, loss-making, and cash-burning, with a clean but gradually shrinking cash cushion and minimal debt. Strategically, it has promising technology, strong partners, and a capital-light model that, if successful, could allow it to scale without massive factory spending. The flip side is substantial technology and execution risk, dependence on large partners, and an unclear path to sustainable profitability. Anyone evaluating the company would likely focus on technical progress (especially sample milestones and durability data), partner feedback, and the evolution of its cash runway and funding options over the next several years.

NEWS

November 4, 2025 · 4:05 PM UTC

Solid Power Reports Third Quarter 2025 Results

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October 30, 2025 · 4:05 PM UTC

Solid Power Partners with Samsung SDI and BMW to Advance All-Solid-State Battery Technology

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October 21, 2025 · 4:30 PM UTC

Solid Power, Inc. Announces Timing of Third Quarter 2025 Earnings Release and Conference Call

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