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Dec 31, 2025
Solid Power Q4 2025 Earnings Report
Solid Power reported its full year 2025 financial results, highlighting progress in electrolyte technology and partner collaborations.
Key Takeaways
Solid Power concluded 2025 with $21.7 million in total revenue, driven by its partnership with SK On. While the company reported an operating loss of $100.8 million, it maintained a strong liquidity position of $336.5 million and successfully executed on its electrolyte production roadmap, including the design of a new pilot line.
Announced a Joint Evaluation Agreement with Samsung SDI and BMW to progress all-solid-state battery development.
Completed factory acceptance testing for the line installation at SK On's facility.
Raised $89.4 million in net proceeds through an at-the-market (ATM) offering program during 2025.
Successfully designed a continuous electrolyte production pilot line with installation expected by end of 2026.
Revenue by Segment
Forward Guidance
Solid Power expects to continue its electrolyte development roadmap and maintain fiscal discipline in 2026, supported by a strong start to the year with a $130 million direct offering.
Positive Outlook
- Expects to install and commission a continuous electrolyte production pilot line by end of 2026.
- Strengthening relationships with partners BMW, Samsung SDI, and SK On.
- Started 2024 with a $130 million registered direct offering in January to extend runway.
- Focusing on promoting electrolyte product competitiveness through the Electrolyte Innovation Center.
- Continuing to explore potential partnership opportunities for commercial-scale production.
Challenges Ahead
- Anticipated 2026 cash investment remains high, estimated between $85 million and $100 million.
- Ongoing risks related to the uncertainty of research and development success.
- Potential for continued losses as a development-stage company.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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