Solid Power(SLDP) - 2025 Q1 - Quarterly Results

Solid Power First Quarter 2025 Results Business and Financial Highlights The company reported stable revenue, progressed on key operational goals, and maintained a strong liquidity position of $299.6 million - Key operational achievements in Q1 2025 include advancing the electrolyte pilot line design, nearing completion of the SK On pilot cell line, and receiving increased customer demand for electrolyte[7] - Capital expenditures for Q1 2025 totaled $2.4 million, primarily for the construction of the continuous electrolyte production pilot line[8] Q1 Financial Comparison | Financial Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $6.0 million | $6.0 million | | Operating Expenses | $30.0 million | $31.7 million | | Operating Loss | $24.0 million | $25.8 million | | Net Loss | $15.1 million | $21.2 million | | Loss Per Share | $0.08 | $0.12 | Liquidity Position | Liquidity (in thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $29,454 | $25,413 | | Available-for-sale securities | $270,134 | $302,057 | | Total liquidity | $299,588 | $327,470 | 2025 Outlook The company reaffirmed its 2025 objectives, focusing on electrolyte innovation, technology roadmap execution, and maintaining financial discipline - Key objectives for 2025 include driving electrolyte innovation, executing the technology roadmap, fulfilling partner commitments, and maintaining financial discipline while investing in technology[9][12] Forward-Looking Statements The report includes forward-looking statements subject to significant risks and uncertainties, cautioning readers against undue reliance - The report contains forward-looking statements concerning financial guidance and future performance, which are based on current expectations and not guarantees of future results[13] - The company identifies numerous risks that could cause actual results to differ, including R&D success, a history of financial losses, and delays in facility construction[13] Financial Statements The statements detail the company's financial position, with total assets of $419.4 million and a net loss of $15.2 million for Q1 2025 Condensed Consolidated Balance Sheets Balance Sheet Summary | Balance Sheet (in thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total current assets | $249,277 | $125,236 | | Total assets | $419,390 | $448,250 | | Total current liabilities | $10,429 | $19,970 | | Total liabilities | $22,275 | $37,936 | | Total stockholders' equity | $397,072 | $410,280 | Condensed Consolidated Statements of Operations Statement of Operations Summary | Statement of Operations (in thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Revenue | $6,016 | $5,953 | | Total operating expenses | $30,045 | $31,734 | | Operating Loss | $(24,029) | $(25,781) | | Net Loss | $(15,151) | $(21,207) | | Basic and diluted loss per share | $(0.08) | $(0.12) | Condensed Consolidated Statements of Cash Flows Cash Flow Summary | Cash Flows (in thousands) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(26,291) | $(29,065) | | Net cash provided by investing activities | $30,499 | $13,639 | | Net cash used in financing activities | $(167) | $(5,092) | | Net increase (decrease) in cash | $4,041 | $(20,518) | | Cash and cash equivalents at end of period | $29,454 | $14,019 |