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Dec 31, 2023
Solid Power Q4 2023 Earnings Report
Solid Power's full year 2023 results reflected strong execution and strategic milestones were achieved.
Key Takeaways
Solid Power reported revenue of $17.4 million for 2023, a $5.6 million increase compared to 2022. The company's operating loss was $90.6 million and net loss was $65.5 million, or $0.37 per share. Total liquidity as of December 31, 2023, was $415.6 million.
Delivered on key strategic milestones in 2023, strengthening operational, technological, and competitive positioning.
Demonstrated electrolyte production at a rate of 1.1 metric tons per month.
Successfully delivered A-1 Sample cells in October, entering the automotive qualification process.
Focus shifting to A-2 Sample cells, advancing cell development with a goal of consistently producing safer and higher performing cells.
Forward Guidance
Solid Power is committed to delivering on the following key objectives for 2024. The company 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. Included in these ranges is approximately $35 million in operational and capital investments the company deferred from 2023. Total 2024 cash investment is expected to be in the range of $100 million to $120 million. Revenue for 2024 is expected 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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