Solid Power Reports 49% Revenue Growth to $7.54 Million in Q2 2025

Solid Power, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $7.54 million, a 49% increase from $5.08 million in the same period last year. The revenue growth was primarily driven by collaborative agreements, including a significant contribution from a grant agreement with the U.S. Department of Energy (DOE), which provided $1.05 million in grant income during the quarter. For the first half of 2025, total revenue and grant income reached $13.56 million, up 23% from $11.03 million in the prior year.

Despite the increase in revenue, Solid Power reported an operating loss of $25.87 million for the second quarter, slightly improved from a loss of $26.94 million in the same quarter of 2024. The company’s total operating expenses rose marginally to $33.41 million, compared to $32.01 million in the previous year, with direct costs increasing significantly due to milestone achievements under collaboration agreements. The net loss attributable to common stockholders for the quarter was $25.34 million, compared to a loss of $22.27 million in the prior year.

In terms of strategic developments, Solid Power has made progress on its continuous electrolyte production pilot line, with detailed design work expected to be completed by the end of 2025. The company is also focused on expanding its customer base, with ongoing sampling of electrolyte materials to key strategic customers. Additionally, Solid Power has continued its partnership with SK On Co., with factory acceptance testing milestones being achieved and site acceptance testing scheduled for later this year.

Operationally, Solid Power's liquidity as of June 30, 2025, stood at $279.81 million, a decrease from $327.47 million at the end of 2024. The company has also been active in its stock repurchase program, having repurchased approximately 3.36 million shares at an average price of $1.05 per share during the first half of 2025. The total number of shares outstanding as of June 30, 2025, was 180.71 million.

Looking ahead, Solid Power remains focused on achieving its development objectives while maintaining fiscal discipline. The company anticipates continued revenue growth from its collaborative agreements and government contracts, although it acknowledges the risks associated with market adoption of electric vehicles and potential changes in government funding and regulations. Solid Power's management believes that its current cash reserves are sufficient to meet operational needs for at least the next 12 months, but it may seek additional financing if necessary to support its growth initiatives.