Logo

SLDPW

Solid Power, Inc.

SLDPW

Solid Power, Inc. • NASDAQ
$1.16 ▲ 1.75% (+0.02)
Market Cap $210.74 M
52w High $1.26
52w Low $0.96
Dividend Yield 0%
P/E -0.03
Volume 43.42K
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 very much a development-stage company. Revenue has been minimal and largely tied to partnerships and grants rather than broad commercial sales. Operating costs, especially for research, development, and scaling activities, are much higher than revenues, so the company has been reporting steady losses. Those losses have generally grown over time as the company invests more heavily in people, equipment, and pilot production. This pattern is typical for an early-stage technology company but means profitability is not yet in sight and depends on successful commercialization later in the decade.

Balance Sheet

Balance Sheet The balance sheet shows a company that is asset-rich relative to its size, with most funding coming from shareholders rather than lenders. Debt is very low, which limits financial pressure from interest payments, but equity has been slowly eroded by ongoing losses. Cash levels peaked shortly after the SPAC listing and have since declined as the company funds operations and capital spending. Even so, available liquidity, supported by past capital raises and government support, appears to provide a multi‑year runway, assuming spending remains disciplined and no major setbacks occur.

Cash Flow

Cash Flow Cash flow is clearly negative and has been consistently so. Day‑to‑day operations consume cash, reflecting high R&D spending and limited revenue. At the same time, the company is investing in equipment and facilities, so capital expenditures add another layer of cash outflow. As a result, free cash flow has been meaningfully negative each year. The business is therefore dependent on its existing cash reserves and future external funding until its technology moves into meaningful commercial production. The key issue to watch is whether the pace of cash burn stays in line with the company’s expected technical and commercial milestones.

Competitive Edge

Competitive Edge Solid Power is trying to carve out a leading role in solid-state batteries, a field with many ambitious competitors. Its edge lies in a sulfide-based solid electrolyte that aims to deliver higher energy density and better safety while fitting into existing lithium‑ion manufacturing methods. The company is not trying to become a massive battery producer itself; instead, it wants to supply electrolyte materials and license its designs, which could be more capital‑efficient. Strong partnerships with major automakers and battery producers, plus government backing, provide validation and industrial support. However, the competitive field is crowded, other technologies could win out, and large established battery makers have deep resources, so there is no guarantee Solid Power’s approach will dominate.

Innovation and R&D

Innovation and R&D The company is heavily focused on innovation, with most of its spending directed toward R&D and pilot‑scale manufacturing. Key efforts include developing high‑silicon and lithium‑metal anode cells, improving the sulfide electrolyte, and proving that its cells can be manufactured at scale using existing equipment. Deliveries of prototype cells and successful tests in partner vehicles indicate real technical progress, but much work remains on durability, manufacturability, and cost. Scaling electrolyte production and moving from early sample stages to production‑ready cells are critical milestones. Overall, Solid Power’s value proposition rests almost entirely on its ability to keep advancing the technology and turning laboratory success into reliable, scalable products.

Summary

Solid Power today is a classic high‑risk, high‑uncertainty, early‑stage technology story. Financially, it is loss‑making, cash‑consuming, and still pre‑commercial on a meaningful scale, supported by a relatively strong but shrinking cash cushion and very low debt. Strategically, it is positioned in a potentially transformative technology area with credible partners, a focused business model, and a solid intellectual property base. The main opportunities lie in becoming a key enabler of safer, higher‑density EV batteries without having to build its own gigafactories. The main risks are technical execution, scaling and cost challenges, intense competition from other battery technologies, and the possibility that commercialization takes longer or proves less profitable than hoped. Outcomes will likely hinge on progress against technical milestones and the company’s ability to manage its cash runway while doing so.