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Mar 31, 2024
Solid Power Q1 2024 Earnings Report
Solid Power's Q1 2024 results reflected continued progress towards its 2024 goals.
Key Takeaways
Solid Power reported a revenue of $6.0 million for the first quarter of 2024, an increase of $2.2 million compared to the first quarter of 2023. The increase was driven by continued execution under the company’s joint development agreements and other collaborative arrangements. The company's operating loss was $25.8 million and net loss was $21.2 million, or $0.12 per share. Total liquidity as of March 31, 2024, was $378.9 million.
Solid Power delivered $6.0 million in revenue during the first quarter of 2024, an increase of $2.2 million compared to the first quarter of 2023.
The increase in revenue was driven by continued execution under the company’s joint development agreements and other collaborative arrangements.
First quarter 2024 operating loss was $25.8 million and net loss was $21.2 million, or $0.12 per share.
Total liquidity as of March 31, 2024, was $378.9 million.
Forward Guidance
Solid Power expects 2024 cash used in operations to be in the range of $60 million to $70 million and capital expenditures to be in the range of $40 million to $50 million. The company also reiterated its expectation for 2024 revenue to be in the range of $20 million to $25 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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