Solid Power(SLDP) - 2025 Q3 - Quarterly Results

Financial Performance - Solid Power reported $4.6 million in revenue and grant income for Q3 2025, bringing year-to-date revenue to $18.1 million[4]. - Solid Power's net loss for Q3 2025 was $25.9 million, or $0.14 per share, compared to a net loss of $22.4 million in Q3 2024[18]. - Net loss for the nine months ended September 30, 2025, was $66,355 thousand, compared to a net loss of $65,900 thousand for the same period in 2024[20]. - Operating expenses decreased to $29.0 million in Q3 2025 from $33.4 million in Q2 2025, with a year-to-date operating loss of $74.3 million[5]. Cash Flow and Liquidity - The company raised net proceeds of $32.9 million through common stock sales during Q3 2025, resulting in total liquidity of $300.4 million as of September 30, 2025[7]. - Cash and cash equivalents at the end of the period increased to $47,286 thousand from $37,969 thousand year-over-year[20]. - Net cash used in operating activities was $55,002 thousand, an increase from $50,030 thousand in the prior year[20]. - Net cash provided by investing activities was $46,099 thousand, down from $62,139 thousand in the previous year[20]. - Net cash provided by financing activities was $30,776 thousand, compared to a net cash used of $8,677 thousand in the same period last year[20]. Capital Expenditures and Investments - Capital expenditures for Q3 2025 totaled $0.6 million, with year-to-date capital expenditures at $5.6 million, primarily for the continuous electrolyte production pilot line[8]. - Solid Power has revised its 2025 cash investment expectation to a range of $85 million to $95 million, focusing on innovation and operational efficiency[9]. - Purchases of available-for-sale securities totaled $158,770 thousand, down from $174,040 thousand in the previous year[20]. - Proceeds from sales of available-for-sale securities were $211,085 thousand, compared to $252,177 thousand in the prior year[20]. Assets and Liabilities - As of September 30, 2025, total current liabilities were $16.6 million, down from $19.97 million at the end of 2024[17]. - Solid Power's total assets decreased to $416.1 million as of September 30, 2025, from $448.3 million at the end of 2024[17]. Operational Updates - The company announced a Joint Evaluation Agreement with Samsung SDI and BMW to advance all-solid-state battery technology[3]. - The company is on track to complete site acceptance testing for the SK On pilot cell line by year-end 2025[6]. Expenses - Depreciation and amortization expenses increased to $13,770 thousand from $11,991 thousand year-over-year[20]. - Stock-based compensation expense decreased to $6,467 thousand from $8,987 thousand in the prior year[20]. - Cash paid for interest decreased to $21 thousand from $37 thousand year-over-year[20].