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Mar 31, 2023
Solid Power Q1 2023 Earnings Report
Solid Power's financial results for Q1 2023 were announced.
Key Takeaways
Solid Power reported a revenue of $3.8 million for the first quarter of 2023, an increase of $1.6 million compared to the first quarter of 2022. The operating loss was $21.3 million and the net loss was $19.2 million, or $0.11 per share. The company's total liquidity totaled $468.2 million as of March 31, 2023.
SP2 electrolyte production facility commissioning marked a step forward towards commercialization.
Sulfide-based electrolyte is expected to advance cell development capabilities.
Improved manufacturability and yields on 20 Ah cells are positioning the company to scale up EV production and development.
Company is on track to meet 2023 objectives.
Forward Guidance
Solid Power expects cash used in operations to be between $70 million and $80 million and capital expenditures to range from $50 million to $60 million in 2023. 2023 revenue is expected to be in the range of $15 million to $20 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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