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Sep 30, 2023
Solid Power Q3 2023 Earnings Report
Solid Power's third quarter results were released, highlighted by the shipment of first A-sample EV cells for automotive qualification.
Key Takeaways
Solid Power reported a revenue increase of $3.6 million compared to Q3 2022, driven by joint development agreements. The company's operating loss was $21.5 million and net loss was $15.1 million, or $0.08 per share. They shipped their first A-sample cells to enter automotive qualification.
Shipped first A-Sample EV cells for BMW, marking a major milestone.
Began the formal automotive qualification process.
Increased electrolyte production at SP2 and phased out SP1 powder production.
Liquidity position remained strong with $422.3 million total liquidity.
Forward Guidance
Solid Power's 2023 outlook and goals remained unchanged. Cash used in operations and capital expenditures are expected to be slightly below original ranges, while revenue is still expected to be in the range of $15 million to $20 million.
Historical Earnings Impact
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