Solid Power (SLDP) Q2 2026 earnings summary

Executive summary

• Advanced key strategic initiatives in solid-state battery technology, including improved electrolyte performance and expanded collaborations with Samsung SDI, BMW, and SK On.

• Completed installation of major equipment for the continuous manufacturing pilot line, with commissioning and operational startup targeted for Q4 2026 and output expected in Q1 next year.

• Achieved Stage 1 of ISO 9001 certification, with Stage 2 audit scheduled and certification expected by year-end.

• Maintained financial discipline, with cash investments tracking within the $85–$100 million annual guidance.

• Progressed discussions for a joint venture in South Korea for commercial scale electrolyte production, expecting an announcement by year-end.

Financial highlights

• Year-to-date revenue totaled $2.8 million, with Q2 2026 revenue and grant income at negative $0.3 million due to a $1.2 million revenue reversal related to SK On milestone payments.

• Operating expenses were $30.0 million in Q2 2026, up slightly from $29.4 million in Q1 2026.

• Operating loss for Q2 2026 was $30.3 million; net loss was $23.8 million or $0.11 per share.

• Capital expenditures reached $6.3 million in Q2 2026, mainly for the new pilot line.

• Ended the quarter with $419.3 million in liquidity and no debt.

Outlook and guidance

• Remain on track to announce a joint venture for electrolyte production in South Korea by year-end.

• Expect completion of pilot line commissioning by year-end and initial output in Q1 next year, with plant validation and operational startup planned for Q4 2026.

• ISO 9001 certification anticipated by year-end, supporting commercial readiness.

• Revenue recognition expected to decrease for the remainder of 2026 as focus shifts to pilot line construction and product delivery.

• Sufficient liquidity to meet operating and capital needs for at least the next 12 months.