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Solid Power (SLDP) investor relations material
Solid Power Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Entered a strategic collaboration and joint evaluation agreement with Samsung SDI and BMW to develop and supply all-solid-state battery cells for next-generation evaluation vehicles, validating technology and strategic direction.
Advanced SK On agreements, with site acceptance testing of the pilot line completed and on track for year-end completion.
Progressed design and planning for a continuous manufacturing pilot line for sulfide electrolyte production, with commissioning targeted for 2026.
Maintained focus on operational efficiency, cost reduction, and innovation while raising $32.9 million through an at-the-market equity offering.
Repurchased 3.4 million shares for $3.6 million under a $50 million stock repurchase program.
Financial highlights
Q3 2025 revenue and grant income totaled $4.6 million, nearly flat year-over-year; year-to-date revenue reached $18.1 million, up 16% year-over-year, driven by government grant income.
Operating expenses for Q3 were $29.0 million, down from $33.4 million in Q2 and 10% lower year-over-year.
Year-to-date operating loss was $74.3 million; net loss was $66.4 million or $0.37 per share.
Q3 net loss was $25.9 million ($0.14 per share); weighted average shares outstanding in Q3: 182.4 million.
Total liquidity as of September 30, 2025, was $300.4 million, bolstered by at-the-market offerings and government contracts.
Outlook and guidance
2025 cash investment guidance revised to $85–95 million, reflecting cost optimization.
Commissioning of the continuous manufacturing pilot line for sulfide electrolyte production remains on track for 2026.
Anticipate operating expenses to decrease for the remainder of the year as cost reduction efforts continue.
Cash on hand is sufficient to meet operating and capital needs for at least the next 12 months.
Focused on fulfilling partner/customer commitments and increasing electrolyte sampling.
Key milestones for BMW/Samsung SDI collaboration
What is the SP2 continuous line's strategic role?
What led to the revised 2025 cash investment?
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Next Solid Power earnings date
Q4 202524 Feb, 2026
Next Solid Power earnings date
Q4 202524 Feb, 2026
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Frequently asked questions
Solid State Batteries
Solid Power is an American company that specializes in the development and manufacturing of all-solid-state batteries, a technology poised to revolutionize the energy storage sector. Founded in 2012, this U.S.-based company focuses on creating batteries that are safer, more reliable, and capable of higher energy density compared to traditional lithium-ion batteries. These innovations are particularly relevant for electric vehicles (EVs), and Solid Power collaborates with established automotive manufacturers to integrate its technology into next-generation electric vehicles. The company is headquartered in Louisville, Colorado, and its shares are listed on the Nasdaq.
From UC Boulder to Public Listing
Solid Power was founded in 2011 by Doug Campbell, Sehee Lee, and Conrad Stoldt. The company was initially set up at the University of Colorado Boulder but was spun out into a company with funding from the Defense Advanced Research Projects Agency (DARPA). The following years were marked by research funded by grants, as well as by a contract with the US Air Force. In 2017, the company entered a partnership with BMW to develop solid-state batteries for use in high-performance EVs. The first outside round of funding came in 2018 with Samsung, Ford, and several others providing capital for Solid Power to Continue to grow. The company went public in 2021.
A Different Kind of Battery
Solid Power specializes in the development of all-solid-state batteries (ASSBs), which are distinct from traditional lithium-ion batteries. These batteries use a solid electrolyte instead of the liquid or gel electrolytes found in conventional batteries. This solid electrolyte is typically made from ceramics or other non-flammable materials, enhancing safety by reducing the risk of fire or explosion. ASSBs offer higher energy density, which translates to longer battery life and extended range for applications like electric vehicles. Furthermore, Solid Power's technology improves charging speeds and operational temperature ranges, making these batteries more versatile and robust.
The Applications
Solid Power'ASSBs find application primarily in the EV sector. Their higher energy density and enhanced safety features make them ideal for powering EVs, Additionally, these batteries hold promise for use in consumer electronics, where their improved safety and longevity could be crucial. Solid Power's technology is also being researched for use in aerospace and defense.
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