Solid Power(SLDP) - 2024 Q4 - Annual Results

Financial Performance - Solid Power reported $20.1 million in revenue for 2024, an increase of $2.7 million or approximately 15.5% compared to 2023[5]. - The net loss for 2024 was $96.5 million, or $0.54 per share, compared to a net loss of $65.5 million in 2023[7][22]. - Net loss for the year ended December 31, 2024, was $96,520, compared to a net loss of $65,549 in 2023, representing a 47% increase in losses[24]. Operating Expenses - Operating expenses rose to $125.5 million in 2024, up from $108.0 million in 2023, primarily due to increased research and development costs[7]. - Stock-based compensation expense rose to $11,972 from $10,370, marking a 15% increase year-over-year[24]. Liquidity and Cash Flow - Total liquidity as of December 31, 2024, was $327.5 million, down from $415.6 million in 2023[8]. - Cash and cash equivalents at the end of the period decreased to $25,413 from $34,537, reflecting a net decrease of $9,124[24]. - Net cash used in operating activities was $63,899, an increase from $58,261 in the previous year, indicating a 10% rise in cash outflow[24]. - Net cash provided by investing activities was $64,204, up from $42,502 in 2023, showing a 51% increase in cash inflow from investments[24]. Capital Expenditures - Capital expenditures for 2024 totaled $15.9 million, focusing on electrolyte development and production capabilities[10]. - Accrued capital expenditures at the end of the period were $1,196, compared to $814 in 2023, reflecting a 47% increase[24]. Investments and Grants - Solid Power aims for cash investment in 2025 to be between $100 million and $120 million, excluding potential benefits from a DOE grant[11]. - The company received a U.S. Department of Energy award for up to $50 million for the continuous production of sulfide-based solid electrolyte materials[6]. Asset Management - As of December 31, 2024, total assets were $448.3 million, a decrease from $532.8 million in 2023[20]. Sales and Securities - Purchases of available-for-sale securities decreased to $216,193 from $327,591, a reduction of 34%[24]. - Proceeds from sales of available-for-sale securities were $302,966, down from $405,161, indicating a 25% decline[24]. Other Financial Metrics - Cash paid for withholding of employee taxes related to stock-based compensation increased to $615 from $112, a significant rise of 450%[24]. - The company reported a loss on sales of property, plant, and equipment amounting to $1,957, with no comparable figure in the previous year[24]. - The company successfully completed 2024 milestones for multi-year agreements with SK On and extended joint development agreements with BMW and Ford[6].