--- title: "Solid Power - CW23 | 10-Q: FY2026 Q1 Revenue: USD 2.105 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285352804.md" datetime: "2026-05-06T10:09:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285352804.md) - [en](https://longbridge.com/en/news/285352804.md) - [zh-HK](https://longbridge.com/zh-HK/news/285352804.md) --- # Solid Power - CW23 | 10-Q: FY2026 Q1 Revenue: USD 2.105 M Revenue: As of FY2026 Q1, the actual value is USD 2.105 M. EPS: As of FY2026 Q1, the actual value is USD -0.06. EBIT: As of FY2026 Q1, the actual value is USD -30.16 M. #### Financial Performance for the Three Months Ended March 31, 2026, Compared to March 31, 2025 #### Revenue and Grant Income Total revenue and grant income for Solid Power decreased by 49% to $3,073 thousand in the three months ended March 31, 2026, from $6,016 thousand in the same period of 2025. This decline was primarily due to a 59% reduction in revenue, decreasing from $5,125 thousand in 2025 to $2,105 thousand in 2026. Grant income, however, increased by 9%, rising from $891 thousand in 2025 to $968 thousand in 2026. The decrease in revenue was largely attributed to the timing and nature of milestone-based work under the SK On Agreements. #### Operating Expenses Total operating expenses decreased by 2% to $29,419 thousand in the three months ended March 31, 2026, from $30,045 thousand in the comparable period of 2025. **Direct Costs**: Increased by 32% to $3,548 thousand in 2026 from $2,696 thousand in 2025, driven by the timing of milestone achievements and increased costs associated with the electrolyte product mix. **Research and Development (R&D)**: Decreased by 7% to $17,749 thousand in 2026 from $19,022 thousand in 2025, partly due to the timing of shipments and a reduction in depreciation expense. **Selling, General and Administrative (SG&A)**: Remained relatively stable, decreasing by 2% to $8,122 thousand in 2026 from $8,327 thousand in 2025. #### Operating Loss The operating loss increased by 10% to -$26,346 thousand in the three months ended March 31, 2026, compared to -$24,029 thousand in the prior year. #### Nonoperating Income and Expense Total nonoperating income and expense significantly increased by 51% to $13,474 thousand in 2026 from $8,948 thousand in 2025. This was primarily driven by an 11% increase in interest income to $4,012 thousand in 2026 from $3,599 thousand in 2025, and a gain from the change in fair value of warrant liabilities of $9,642 thousand in 2026, up from $5,879 thousand in 2025. Interest expense increased substantially to -$197 thousand in 2026 from -$8 thousand in 2025, and other income (expense) shifted from an expense of -$522 thousand in 2025 to an income of $17 thousand in 2026. #### Net Loss Attributable to Common Stockholders Solid Power reported a net loss attributable to common stockholders of -$13,028 thousand in the three months ended March 31, 2026, an improvement of 14% from the -$15,151 thousand loss in the same period of 2025. Basic and diluted loss per share improved to -$0.06 in 2026 from -$0.08 in 2025. #### Cash Flow - **Cash Flows from Operating Activities**: Net cash used in operating activities decreased by $7,537 thousand, from -$26,290 thousand in 2025 to -$18,753 thousand in 2026, driven by the timing of annual contract payments and a decrease in cash used for employee compensation. - **Cash Flows from Investing Activities**: Net cash used in investing activities increased by $122,787 thousand, from $30,499 thousand provided in 2025 to -$92,288 thousand used in 2026, primarily due to a $143,412 thousand increase in purchases of available-for-sale securities. - **Cash Flows from Financing Activities**: Net cash provided by financing activities increased significantly by $121,110 thousand, from -$167 thousand used in 2025 to $120,943 thousand provided in 2026, primarily due to $121,300 thousand in net proceeds from a registered direct offering in January 2026. #### Liquidity and Capital Resources As of March 31, 2026, total liquidity, including cash and cash equivalents and available-for-sale securities, stood at $435,272 thousand, an increase of $98,822 thousand from $336,450 thousand at December 31, 2025. Contract assets and receivables totaled $12,700 thousand, while current liabilities were $17,100 thousand. The company believes its current cash on hand is sufficient to meet operating cash needs, working capital, and capital expenditure requirements for at least the next 12 months. #### 2026 Development Objectives & Outlook Solid Power anticipates revenue recognition to decrease for the remainder of 2026 as it conducts validation activities, constructs a continuous electrolyte production pilot line, and supplies electrolyte to partners and customers. Operating expenses are expected to remain consistent for the rest of the year, and cash used in operating activities is projected to remain consistent quarterly. The company is focused on strengthening partner relationships, commissioning a continuous manufacturing pilot line for sulfide electrolyte production by the end of 2026, exploring potential partners for commercial-scale electrolyte production in the Republic of Korea, and promoting electrolyte product competitiveness. ### Related Stocks - [SLDPW.US](https://longbridge.com/en/quote/SLDPW.US.md) ## Related News & Research - [What to Expect From Coherent's Q4 2026 Earnings Report](https://longbridge.com/en/news/293614448.md) - [UniCredit S.p.A. reports Q2 results; updates FY2026 outlook](https://longbridge.com/en/news/293581489.md) - [Solventum’s Q2 2026 Earnings: What to Expect](https://longbridge.com/en/news/293459582.md) - [Thermo Fisher Scientific (NYSE:TMO) Updates FY 2026 Earnings Guidance](https://longbridge.com/en/news/293626208.md) - [Waste Connections Q2 FY26 net income rises 2.1% to USD 296.4 million; revenue climbs 6.4% to USD 2.56 billion](https://longbridge.com/en/news/293515002.md)