Solid Power, Inc. (Nasdaq: SLDP), a leading developer of solid-state battery technology, today announced its operational and financial results for the second quarter and first half of 2026.

Recent Business Highlights

  • Improved our electrolyte performance through our work under the Joint Evaluation Agreement with Samsung SDI and BMW.

  • Advanced our discussions with industry leading partners regarding a potential joint venture for commercial-scale electrolyte production in the Republic of Korea.

  • Execution of our continuous manufacturing pilot line remains on schedule. Installation of major equipment continues to advance in preparation for equipment acceptance testing, targeted for completion in the third quarter. Plant validation and operational startup remain planned for the fourth quarter of 2026.

  • Completed Stage 1 audit of the ISO 9001 certification process in the second quarter with Stage 2 scheduled for the third quarter.

  • Successfully completed the Line Installation Agreement (LIA) with SK On, receiving the associated milestone payment. Currently in negotiations for a new collaboration agreement.

  • Continued execution of financial discipline, remaining on track to deliver cash investments within the current year guidance range of $85 to $100 million.

“During the second quarter, we made real progress against our strategic priorities, including our partner relationships, JV opportunities and operational capabilities,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “We remain on track in advancing our new continuous manufacturing line and are progressing towards ISO 9001 certification as we further strengthen our commercial readiness and quality management system. We are also encouraged by the performance of our electrolyte in the first half of the year. Together, these milestones and our strong liquidity position reinforce our confidence in our differentiated technology, our ability to execute, and our path toward commercialization.”

Second Quarter 2026 Financial Highlights

Solid Power reported revenue and grant income of ($0.3) million in the second quarter of 2026 and $2.8 million during the first half of 2026. Revenue and grant income recognized included revenue from our collaboration agreement with SK On and grant income from the assistance agreement with the U.S. Department of Energy. During the second quarter, Solid Power recorded a $1.2 million reversal of previously recognized revenue through a cumulative catch-up adjustment. The adjustment was driven by a change in our assumptions related to certain milestone payments.

Operating expenses were $30.0 million in the second quarter of 2026 compared to $29.4 million in the first quarter of 2026 with expenses remaining largely consistent. Second quarter 2026 operating loss was $30.3 million, and net loss was $23.8 million, or $0.11 per share.

Balance Sheet and Liquidity

Solid Power’s liquidity position remains strong. Total liquidity as of June 30, 2026, was $419.3 million as shown below.

 

 

 

 

 

 

 

 

(in thousands)

 

June 30, 2026

 

December 31, 2025

 

Cash and cash equivalents

 

$

24,284

 

$

21,607

 

Available-for-sale securities

 

 

395,042

 

 

314,843

 

Total liquidity

 

$

419,326

 

$

336,450

 

As of June 30, 2026, contract assets and accounts receivables were $3.2 million and total current liabilities were $17.2 million. Solid Power continues to have no debt financing.

Second quarter 2026 capital expenditures totaled $6.3 million, primarily representing costs for construction of our continuous electrolyte production pilot line.

Webcast and Conference Call

Solid Power will host a conference call at 2:30 p.m. MT (4:30 p.m. ET) today, August 4, 2026. Participating on the call will be John Van Scoter, President and Chief Executive Officer, and Linda Heller, Chief Financial Officer.

The call may be accessed through a live audio webcast on Solid Power’s Investor Relations website at www.solidpowerbattery.com/investor-relations. An audio replay will be available at the same location.

About Solid Power, Inc.

Solid Power is developing solid-state battery technology to enable the next generation of batteries for the fast-growing EV and other markets. Solid Power’s core technology is its electrolyte material, which Solid Power believes can enable extended driving range, longer battery life, improved safety, and lower cost compared to traditional lithium-ion. Solid Power’s business model – selling its electrolyte to cell manufacturers and licensing its cell designs and manufacturing processes – distinguishes the company from many of its competitors who plan to be commercial battery manufacturers. Ultimately, Solid Power endeavors to be a leading producer and distributor of sulfide-based solid electrolyte material for powering both EVs and other applications. For more information, visit http://www.solidpowerbattery.com/.

Forward-Looking Statements

All statements other than statements of present or historical fact contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including Solid Power’s or its management team’s expectations, objectives, beliefs, intentions or strategies regarding the future. When used herein, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “outlook,” “seek,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may include, but are not limited to, statements regarding potential new joint ventures and anticipated collaboration agreements, Solid Power’s technology, strategy, business model, market opportunity, operations, future prospects, and plans and objectives of management. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Readers are cautioned not to put undue reliance on forward-looking statements and Solid Power cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Solid Power, including the following factors: (i) risks relating to the uncertainty of the success of our research and development efforts, including our ability to achieve the technological objectives or results that our partners require and our ability to commercialize our technology in advance of competing technologies and our competitors; (ii) risks relating to our status as a research and development stage company with a history of financial losses with an expectation of incurring significant expenses and continuing losses for the foreseeable future, including execution of our business plan and the timing of expected business milestones; (iii) risks relating to the non-exclusive nature of our partnerships, our ability to secure new business relationships, and our ability to manage these relationships; (iv) our ability to negotiate and enter into potential joint venture arrangements and new or amended collaboration or other commercial agreements with our partners and customers on commercially reasonable terms; (v) broad market adoption of EVs and other technologies where we are able to deploy our technology, if developed successfully; (vi) our success attracting and retaining our executive officers, key employees, and other qualified personnel; (vii) our ability to protect and maintain our owned and exclusively-licensed intellectual property, including in jurisdictions outside of the United States; (viii) our ability to secure government contracts and grants, changes in government priorities with respect to our government contracts and grants or government funding reductions or delays, and the availability of government subsidies and economic incentives; (ix) delays in the construction and operation of facilities that meet our short-term research and development and long-term electrolyte production requirements; (x) changes in applicable laws or regulations, including tariffs; (xi) risks relating to, and potential liabilities resulting from, our information technology infrastructure and data security incidents, threats, breaches, or attacks; and (xii) risks relating to other economic, business, or competitive factors in the United States and other jurisdictions, including supply chain interruptions and changes in market conditions, and our ability to manage these risks and uncertainties. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the “Risk Factors” sections of Solid Power’s Annual Report on Form 10-K for the year ended December 31, 2025, Solid Power’s Quarterly Report on Form 10-Q for the quarters ended March 31 2026 and June 30, 2026, and other documents filed by Solid Power from time to time with the Securities and Exchange Commission (the “SEC”), all of which are available on the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Solid Power gives no assurance that it will achieve its expectations.

Solid Power, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except par value and number of shares)

 

 

 

 

 

 

 

 

 

 

June 30, 2026

 

 

 

 

 

 

(Unaudited)

 

December 31, 2025

 

Assets

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

24,284

 

 

$

21,607

 

 

Marketable securities

 

 

218,151

 

 

 

229,177

 

 

Accounts receivable

 

 

3,187

 

 

 

2,155

 

 

Contract assets

 

 

—

 

 

 

7,490

 

 

Prepaid expenses and other current assets

 

 

5,756

 

 

 

6,998

 

 

Total current assets

 

 

251,378

 

 

 

267,427

 

 

Long-Term Assets

 

 

 

 

 

 

 

Property, plant and equipment, net

 

 

84,207

 

 

 

86,318

 

 

Right-of-use operating lease assets, net

 

 

6,252

 

 

 

6,727

 

 

Investments

 

 

177,865

 

 

 

86,997

 

 

Intangible assets, net

 

 

2,159

 

 

 

2,166

 

 

Other assets

 

 

880

 

 

 

1,059

 

 

Loan receivable from equity method investee

 

 

4,327

 

 

 

4,398

 

 

Total long-term assets

 

 

275,690

 

 

 

187,665

 

 

Total assets

 

$

527,068

 

 

$

455,092

 

 

Liabilities, Mezzanine Equity and Stockholders’ Equity

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

Accounts payable and other accrued liabilities

 

 

7,015

 

 

 

8,521

 

 

Deferred revenue

 

 

1,161

 

 

 

198

 

 

Deferred revenue from related parties

 

 

75

 

 

 

172

 

 

Accrued compensation

 

 

6,053

 

 

 

7,043

 

 

Operating lease liabilities

 

 

913

 

 

 

861

 

 

Warrant liabilities

 

 

1,990

 

 

 

—

 

 

Total current liabilities

 

 

17,207

 

 

 

16,795

 

 

Long-Term Liabilities

 

 

 

 

 

 

 

Warrant liabilities

 

 

—

 

 

 

13,881

 

 

Operating lease liabilities

 

 

6,621

 

 

 

7,129

 

 

Other liabilities

 

 

1,091

 

 

 

1,113

 

 

Total long-term liabilities

 

 

7,712

 

 

 

22,123

 

 

Total liabilities

 

 

24,919

 

 

 

38,918

 

 

Mezzanine Equity

 

 

 

 

 

 

 

Mezzanine Equity

 

 

406

 

 

 

470

 

 

Stockholders’ Equity

 

 

 

 

 

 

 

Common Stock, $0.0001 par value; 2,000,000,000 shares authorized; 227,217,240 and 201,181,175 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively

 

 

23

 

 

 

20

 

 

Additional paid-in capital

 

 

814,957

 

 

 

690,234

 

 

Accumulated deficit

 

 

(311,632

)

 

 

(274,904

)

 

Accumulated other comprehensive income (loss)

 

 

(1,605

)

 

 

354

 

 

Total stockholders’ equity

 

 

501,743

 

 

 

415,704

 

 

Total liabilities, mezzanine equity and stockholders’ equity

 

$

527,068

 

 

$

455,092

 

 
 

Solid Power, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)

(in thousands, except number of shares and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

2026

 

2025

 

2026

 

2025

 

Revenues and Grant Income

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

(1,017

)

 

$

6,485

 

 

$

1,088

 

 

$

11,609

 

 

Grant income

 

 

749

 

 

 

1,055

 

 

 

1,717

 

 

 

1,947

 

 

Total revenue and grant income

 

 

(268

)

 

 

7,540

 

 

 

2,805

 

 

 

13,556

 

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct costs

 

 

2,119

 

 

 

8,462

 

 

 

5,667

 

 

 

11,158

 

 

Research and development

 

 

19,363

 

 

 

18,342

 

 

 

37,111

 

 

 

37,363

 

 

Selling, general and administrative

 

 

8,539

 

 

 

6,607

 

 

 

16,661

 

 

 

14,934

 

 

Total operating expenses

 

 

30,021

 

 

 

33,411

 

 

 

59,439

 

 

 

63,455

 

 

Operating Loss

 

 

(30,289

)

 

 

(25,871

)

 

 

(56,634

)

 

 

(49,899

)

 

Nonoperating Income and Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

4,172

 

 

 

3,237

 

 

 

8,184

 

 

 

6,836

 

 

Change in fair value of warrant liabilities

 

 

2,250

 

 

 

(3,216

)

 

 

11,891

 

 

 

2,663

 

 

Interest expense

 

 

(9

)

 

 

(7

)

 

 

(206

)

 

 

(15

)

 

Other expense

 

 

(93

)

 

 

(151

)

 

 

(75

)

 

 

(673

)

 

Total nonoperating income and expense

 

 

6,320

 

 

 

(137

)

 

 

19,794

 

 

 

8,811

 

 

Pretax Loss

 

$

(23,969

)

 

$

(26,008

)

 

$

(36,840

)

 

$

(41,088

)

 

Income tax expense (income)

 

 

(79

)

 

 

6

 

 

 

5

 

 

 

6

 

 

Share of net loss (income) of equity method investee

 

 

(69

)

 

 

(676

)

 

 

4

 

 

 

(606

)

 

Net Loss Attributable to Common Stockholders

 

$

(23,821

)

 

$

(25,338

)

 

$

(36,849

)

 

$

(40,488

)

 

Other Comprehensive Income (Loss)

 

 

(552

)

 

 

13

 

 

 

(1,958

)

 

 

185

 

 

Comprehensive Loss Attributable to Common Stockholders

 

$

(24,373

)

 

$

(25,325

)

 

$

(38,807

)

 

$

(40,303

)

 

Basic and diluted loss per share

 

$

(0.11

)

 

$

(0.14

)

 

$

(0.17

)

 

$

(0.22

)

 

Weighted average shares outstanding – basic and diluted

 

 

225,974,899

 

 

 

180,343,931

 

 

 

221,661,211

 

 

 

180,871,314

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Solid Power, Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

2025

 

Cash Flows from Operating Activities

 

 

 

 

 

 

 

Net loss

 

$

(36,849

)

 

$

(40,488

)

 

Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

 

9,491

 

 

 

9,142

 

 

Amortization of right-of-use assets

 

 

594

 

 

 

741

 

 

Loss on sales of property, plant and equipment, net

 

 

198

 

 

 

574

 

 

Share of net loss (income) of equity method investee

 

 

4

 

 

 

(606

)

 

Stock-based compensation expense

 

 

5,839

 

 

 

3,983

 

 

Change in fair value of warrant liabilities

 

 

(11,891

)

 

 

(2,663

)

 

Accretion of discounts on other long-term liabilities

 

 

34

 

 

 

33

 

 

Accretion of loan receivable from equity method investee

 

 

(70

)

 

 

(64

)

 

Amortization of premiums and accretion of discounts on available-for-sale securities

 

 

(1,510

)

 

 

(2,490

)

 

Loss on change in assessment of finance lease purchase options

 

 

—

 

 

 

84

 

 

Change in operating assets and liabilities that provided (used) cash and cash equivalents:

 

 

 

 

 

 

 

Accounts receivable

 

 

1,374

 

 

 

(2,816

)

 

Contract assets

 

 

7,490

 

 

 

—

 

 

Prepaid expenses and other current assets and other assets

 

 

2,891

 

 

 

1,729

 

 

Accounts payable and other accrued liabilities

 

 

(3,508

)

 

 

(2,054

)

 

Deferred revenue

 

 

963

 

 

 

(2,789

)

 

Deferred revenue from related parties

 

 

(97

)

 

 

—

 

 

Accrued compensation

 

 

(1,669

)

 

 

(2,476

)

 

Operating lease liabilities

 

 

(457

)

 

 

(574

)

 

Net cash and cash equivalents used in operating activities

 

 

(27,173

)

 

 

(40,734

)

 

Cash Flows from Investing Activities

 

 

 

 

 

 

 

Purchases of property, plant and equipment, net

 

 

(7,933

)

 

 

(5,044

)

 

Purchases of available-for-sale securities

 

 

(245,450

)

 

 

(101,690

)

 

Proceeds from sales of available-for-sale securities

 

 

163,626

 

 

 

152,453

 

 

Gain on sale of available-for-sale securities

 

 

—

 

 

 

3

 

 

Cash received on loan receivable from equity method investee

 

 

142

 

 

 

—

 

 

Purchases of intangible assets

 

 

(4

)

 

 

(649

)

 

Net cash and cash equivalents (used in) provided by investing activities

 

 

(89,619

)

 

 

45,073

 

 

Cash Flows from Financing Activities

 

 

 

 

 

 

 

Proceeds from exercise of stock options

 

 

6

 

 

 

659

 

 

Proceeds from issuance of shares of common stock under the ESPP

 

 

370

 

 

 

156

 

 

Cash paid for withholding of employee taxes related to stock-based compensation

 

 

(2,156

)

 

 

(557

)

 

Repurchase of shares of common stock

 

 

—

 

 

 

(3,592

)

 

Payments on finance lease liabilities

 

 

(96

)

 

 

(170

)

 

Proceeds from the registered direct offering, net of fees

 

 

121,345

 

 

 

—

 

 

Net cash and cash equivalents provided by (used in) financing activities

 

 

119,469

 

 

 

(3,504

)

 

 

 

 

 

 

 

 

 

Net increase in cash and cash equivalents

 

 

2,677

 

 

 

835

 

 

Cash and cash equivalents at beginning of period

 

 

21,607

 

 

 

25,413

 

 

Cash and cash equivalents at end of period

 

 

24,284

 

 

 

26,248

 

 

 

 

 

 

 

 

 

 

Supplemental information

 

 

 

 

 

 

 

Cash paid for interest

 

$

206

 

 

$

15

 

 

Accrued capital expenditures

 

 

2,144

 

 

 

1,092

 

 

Unpaid reimbursements on capital expenditures

 

 

2,407

 

 

 

417

 

 

Accrued withholding of employee taxes related to stock-based compensation

 

 

678

 

 

 

—

 

 

Accrued excise tax on stock repurchases

 

 

—

 

 

 

35

 

 

 

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