Solid Power, Inc. SLDP
Solid Power is a U.S.-based leader in solid-state battery technology and manufacturing processes. Our core technology is a sulfide-based solid electrolyte material, which replaces the liquid or gel electrolyte used in traditional lithium-ion battery cells. We believe our electrolyte technology has the potential to enable a step-change improvement in battery cell performance beyond what is currently achievable in conventional lithium-ion battery cells, including improved energy density, battery life, and safety performance. We are currently targeting the battery electric vehicle ("EV") market due to the size and perceived demand for next generation battery technology but believe our technologies can have a broader application as the technologies mature.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $17.9M | $20.1M | $17.4M | $11.8M | $2.7M | $2.1M | — |
| R&D | $72.5M | $73.3M | $54.7M | $38.6M | $17.1M | $9.6M | — |
| SG&A | $29.4M | $31.8M | $25.6M | $22.7M | $5.7M | $1.2M | — |
| Total operating expenses | $122.6M | $125.5M | $108.0M | $70.9M | $29.3M | $13.7M | — |
| Operating income | -$100.8M | -$105.3M | -$90.6M | -$59.1M | -$26.5M | -$11.6M | — |
| Interest expense | $25.0K | $46.0K | $84.0K | $42.0K | $394.0K | $361.0K | — |
| Pre-tax income | -$93.5M | -$95.2M | -$65.5M | -$9.8M | $18.1M | -$14.3M | — |
| Income tax | $8.0K | $1.2M | $2.0K | $227.0K | $25.0K | $118.0K | — |
| Net income | -$93.4M | -$96.5M | -$65.5M | -$9.6M | $18.1M | -$14.4M | — |
| EPS, basic | -0.51 | -0.54 | -0.37 | -0.05 | 0.13 | -0.21 | — |
| EPS, diluted | -0.51 | -0.54 | -0.37 | -0.05 | 0.11 | -0.21 | — |
| Shares, diluted (wtd. avg.) | $184.9M | $179.4M | $178.0M | $174.4M | $95.5M | $69.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $21.6M | $25.4M | $34.5M | $50.1M | $513.4M | $5.0M | $10.6M |
| Short-term investments | $229.2M | $92.8M | $141.5M | $273.0M | $75.9M | $0 | — |
| Receivables | $2.2M | $1.4M | — | — | — | — | — |
| Total current assets | $267.4M | $125.2M | $183.1M | $327.8M | $594.4M | $5.5M | — |
| Property, plant and equipment | $86.3M | $97.2M | $99.2M | $82.8M | $22.1M | $8.5M | — |
| Goodwill | — | — | — | $0 | — | — | — |
| Other intangibles | $2.2M | $2.1M | $1.6M | $1.1M | $619.0K | $248.0K | — |
| Total assets | $455.1M | $448.2M | $532.8M | $594.4M | $617.7M | $14.2M | — |
| Short-term debt | — | — | — | $7.0K | $120.0K | $1.2M | — |
| Total current liabilities | $16.8M | $20.0M | $15.9M | $20.7M | $8.4M | $1.8M | — |
| Long-term debt | — | — | — | $7.0K | $10.0K | $1.5M | — |
| Total liabilities | $38.9M | $37.9M | $29.5M | $39.1M | $59.0M | $10.3M | — |
| Retained earnings | -$274.9M | -$181.2M | -$84.6M | -$19.1M | -$9.5M | -$27.6M | — |
| Total equity | $415.7M | $410.3M | $503.3M | $555.4M | $558.7M | $3.9M | -$16.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$73.4M | -$63.9M | -$58.3M | -$33.8M | -$25.4M | -$10.0M | — |
| Depreciation and amortisation | $18.4M | $16.5M | $12.0M | $5.2M | $2.4M | $2.1M | — |
| Stock-based compensation | $9.0M | $12.0M | $10.4M | $8.7M | $2.7M | $182.0K | — |
| Capital expenditure | $10.2M | $15.9M | $34.5M | $58.3M | $12.6M | $1.0M | — |
| Investing cash flow | -$19.9M | $64.2M | $42.5M | -$430.0M | -$88.9M | -$1.1M | — |
| Financing cash flow | $89.5M | -$9.4M | $173.0K | $485.0K | $622.8M | $5.4M | — |
| Buybacks | $3.6M | $9.1M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041131.
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