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Solid Power (SLDP) investor relations material
Solid Power Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved significant milestones in solid-state battery development in 2025, including joint agreements with SK On, Samsung SDI, and BMW, and progress on a pilot line with SK On.
Demonstrated solid-state battery technology in a BMW i7 test vehicle, marking a milestone in automotive partnerships.
Advanced electrolyte innovation and maintained fiscal discipline, with cash investment at the lower end of guidance.
Raised $89.4 million in net proceeds from an ATM equity offering in 2025 and started 2026 with a $130 million direct offering.
Strengthened technical foundation and positioned for next phase of growth and commercialization.
Financial highlights
2025 revenue reached $21.7 million, up $1.6 million year-over-year, mainly from SK On agreement execution.
Operating expenses were $122.6 million, down from $125.5 million in 2024, reflecting cost discipline.
Operating loss was $100.8 million; net loss was $93.4 million, or $0.51 per share.
Capital expenditures totaled $10.2 million, mainly for the continuous electrolyte production pilot line.
Total liquidity at year-end was $336.5 million, up $9 million from 2024.
Outlook and guidance
2026 cash investment expected between $85 million and $100 million, focused on advancing electrolyte development and commissioning the pilot line.
Plans to commission continuous electrolyte production line by end of 2026, expanding capacity to 75 metric tons annually.
Exploring a commercial-scale partnership in Korea for up to 500 metric tons annual electrolyte production.
$130 million raised in January 2026 to support technology advancement and commercialization efforts.
Intends to maintain financial discipline while investing in technology and process improvements.
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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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