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Jun 30, 2023
Solid Power Q2 2023 Earnings Report
Solid Power's Q2 2023 results reflected continued strong execution.
Key Takeaways
Solid Power reported a revenue of $4.9 million for Q2 2023, an increase of $2.3 million compared to Q2 2022. The operating loss was $22.2 million and net loss was $12.2 million, or $0.07 per share. The company's liquidity position remained strong with total liquidity totaling $443.4 million as of June 30, 2023.
Solid Power continued to execute on its joint development agreements and further extended its agreement with Ford.
The team completed the build-out of our electrolyte production line, started and began scaling up production, and is producing electrolyte that meets our internal performance and quality metrics.
The team has significantly improved 20 Ah cell yields and recently began scaling EV cell production.
Solid Power expects to deliver EV cells to BMW for testing in their demo car program over the coming quarters.
Forward Guidance
Solid Power's 2023 outlook and goals remained unchanged. 2023 revenue is expected to be in the range of $15 million to $20 million. Cash used in operations will be between $70 million and $80 million and capital expenditures will range from $50 million to $60 million. Total cash investment is expected to range between $120 million and $140 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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