Solid Power(SLDP) - 2025 Q3 - Earnings Call Transcript

Financial Data and Key Metrics Changes - In Q3 2025, the company generated revenue of $4.6 million, a decrease from $7.5 million in Q2 2025, bringing year-to-date revenue to $18.1 million, an increase of $2.4 million compared to the same period in 2024 [7][9] - Operating expenses for Q3 were $29 million, down $4.4 million from $33.4 million in Q2 2025, primarily due to labor-focused activities under the SK On agreement [8][9] - Year-to-date operating loss was $74.3 million, with a net loss of $66.4 million or $0.37 per share [9] Business Line Data and Key Metrics Changes - Revenue for Q3 was primarily driven by agreements with SK On and government contracts [7] - The company is progressing on its electrolyte development roadmap and site acceptance testing for the SK On pilot line, which is on track for completion by the end of the year [5][9] Market Data and Key Metrics Changes - Total liquidity increased to $300.4 million as of September 30, 2025, driven by proceeds from the at-the-market offering program and cash from government contracts [9] Company Strategy and Development Direction - The company announced a strategic collaboration with Samsung SDI and BMW to develop solid-state battery cells for next-generation evaluation vehicles, indicating confidence in its technology [4][5] - The company is focused on identifying long-term customers and driving innovation in solid-state battery technology [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of all solid-state battery technology and highlighted progress towards strategic objectives [11] - The expected cash investment for 2025 has been revised to $85-$95 million, reflecting a focus on fiscal discipline and operational efficiencies [10] Other Important Information - Capital expenditures for the quarter totaled $0.6 million, mainly for the construction of the continuous electrolyte production pilot line [9] Q&A Session Summary - The Q&A session was briefly mentioned, but no specific questions or answers were provided in the transcript [12]