Solid Power, Inc. reported its financial results for the first quarter of 2025, revealing a revenue of $6.0 million, a slight increase from $5.9 million in the same period of 2024. The revenue growth was attributed to collaborative agreements and government contracts, particularly from the company's ongoing partnership with SK On Co., Ltd. The company recognized $4.5 million in collaborative revenue, primarily from its research and development technology license agreement and line installation agreement with SK On. Additionally, $1.5 million was generated from government contracts, including funding from the U.S. Department of Energy for the installation of equipment necessary for continuous production of sulfide-based solid electrolyte material.
Operating expenses for the quarter decreased to $30.0 million from $31.7 million year-over-year, primarily due to a reduction in direct costs, which fell to $2.7 million from $4.3 million. This decrease was a result of shifting from using internal labor to outsourcing to strategic partner Dahae Energy Co., Ltd. Research and development expenses remained stable, while selling, general, and administrative expenses saw a slight decline due to reduced reliance on external consultants. The company reported an operating loss of $24.0 million, an improvement from the $25.8 million loss in the prior year.
In terms of liquidity, Solid Power had cash and cash equivalents of $29.5 million and available-for-sale securities totaling $270.1 million as of March 31, 2025, resulting in total liquidity of $299.6 million. This represents a decrease of $27.9 million from the end of 2024. The company anticipates that its cash on hand will be sufficient to meet its operating needs for at least the next 12 months, although it may require additional funding to support future growth and development initiatives.
The company continues to focus on its strategic objectives, including the installation of a continuous electrolyte production pilot line and enhancing its electrolyte manufacturing capabilities. Solid Power is also working to ramp up customer engagement and product sampling, with expectations of recognizing additional revenue from its agreements with SK On throughout the year. The company remains committed to fiscal discipline while investing in technology development and process improvements, aiming to position itself favorably in the evolving solid-state battery market.
About Solid Power, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.