Key Highlights

  • Revenue and grant income were USD 1.2 million, and operating expenses were USD 31.1 million versus USD 30.0 million previously.
  • The net loss was USD 24.4 million, or USD 0.11 per share, and the operating loss was USD 29.8 million.
  • Total Liquidity was USD 397.6 million at September 30, 2026, and the company continues to have no debt.
  • Full-year 2026 cash Investment guidance was reduced to a range of USD 75 million to USD 85 million.

Third Quarter Financial Results

Solid Power, Inc. (NASDAQ:SLDP), the Colorado-based developer of solid-state battery technology, reported Revenue and grant income of USD 1.2 million for the third quarter of 2026. Revenue largely consisted of performance on the agreements with SK On, while the grant income was driven by the assistance agreement with the U.S. Department of Energy, which is funding a portion of the MOBIUS construction.

Operating expenses were USD 31.1 million, compared with USD 30.0 million in the second quarter of 2026, and the company attributes the increase to strategic consulting fees supporting its commercial readiness objectives. The operating loss was USD 29.8 million, and the net loss was USD 24.4 million, or USD 0.11 per share.

Cash investments in the quarter were USD 21.5 million, which brings the year-to-date total to USD 56.6 million. Capital expenditures totaled USD 4.7 million, primarily for the construction of and equipment for MOBIUS.

Analyst estimates were EPS of negative USD 0.12 against reported EPS of negative USD 0.11, and revenue of USD 1.4 million against reported revenue of USD 1.2 million.

Liquidity and Guidance

Total liquidity as of September 30, 2026, was USD 397.6 million, made up of USD 23.3 million of cash and cash equivalents and USD 374.3 million of available-for-sale securities. At December 31, 2025, total liquidity was USD 336.5 million, with cash of USD 21.6 million and securities of USD 314.8 million. Contract Assets and Accounts Receivable were USD 6.2 million, total current liabilities were USD 18.8 million, and the company reported no debt.

Management reduced its 2026 cash investment guidance to a range of USD 75 million to USD 85 million, compared with its prior range of USD 85 million to USD 100 million. The company said the revised outlook reflects its focus on driving innovation, building internal capabilities and supporting partners and customers while optimizing expenses.

Production Capacity and Customers

Solid Power introduced materials into its MOBIUS continuous electrolyte production line in the quarter, with full commissioning targeted by year-end 2026. MOBIUS adds 45 metric tons of annual electrolyte production capacity, which increases total annual capacity to 75 metric tons. The company provided electrolyte material to key customers including Samsung SDI and SK On in the third quarter, and completed Stage 2 of the ISO 9001 certification process, with certification targeted for year-end 2026.

President and Chief Executive Officer John Van Scoter said the company advanced discussions with leading battery material Manufacturing companies regarding a potential joint venture for commercial-scale electrolyte production in the Republic of Korea. He added that electrolyte for electric vehicles remains the primary focus as the company scales, and that its relationships with Tier 1 companies are creating opportunities in non-EV applications. The company expanded collaboration opportunities for its electrolyte technology into drone, defense and humanoid robotics applications, supported by its cell-testing and pilot-production capabilities.

Items to Follow

Items to follow are the full commissioning of MOBIUS, the outcome of the Korea joint venture discussions, the ISO 9001 certification and cash investments against the revised guidance.