Solid Power cuts 2026 cash-investment outlook to $75M–$85M
Revenue largely reflected performance on SK On agreements; a Department of Energy assistance agreement funded part of MOBIUS construction.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Solid Power, Inc. (SLDP) reported third-quarter 2026 revenue and grant income of $1.224 million, including $243,000 of revenue and $981,000 of grant income, versus $4.560 million a year earlier. Operating expenses were $31.064 million, and operating loss was $29.840 million, compared with $28.982 million and $24.422 million, respectively, in third-quarter 2025. Net loss was $24.353 million, or $0.11 per share, versus $25.867 million, or $0.14 per share.
Liquidity was $397.6 million as of September 30, 2026, and Solid Power reported no debt. Cash investments were $21.5 million in the quarter and $56.6 million year to date. Management reduced its 2026 cash-investment guidance to $75 million–$85 million from $85 million–$100 million. Net cash used in operating activities for the first nine months was $43.967 million, versus $55.002 million a year earlier. The company said commissioning of its MOBIUS™ continuous electrolyte production line is underway and that it had advanced discussions regarding a potential joint venture in the Republic of Korea.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet cash used in operating activities decreased to $43.967 million from $55.002 million for nine months.
- Minor pointNet loss narrowed to $24.353 million from $25.867 million year over year.
Negative
- Moderate pointRevenue and grant income fell to $1.224 million from $4.560 million year over year.
- Moderate pointOperating loss widened to $29.840 million from $24.422 million year over year.
Filing Explained
At
8-K Event Classification
Key Figures
Key Terms
available-for-sale securities financial
contract assets financial
equity method investee financial
warrant liabilities financial
Earnings Snapshot
2026 cash investment guidance was reduced to $75 million to $85 million from $85 million to $100 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did SLDP report in Q3 2026?
What is SLDP's cash investment guidance for 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
|
|
||
| (Address of principal executive offices) | (Zip code) |
(
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 2.02 | Results of Operations and Financial Condition. |
On November 3, 2026, Solid Power, Inc. (the “Company,” “Solid Power,” “we,” or “our”) issued a press release announcing its financial and operational results for the second quarter ended September 30, 2026. A copy of the press release is furnished with this report as Exhibit 99.1.
Such exhibit and the information set forth therein will not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor will it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.
Forward Looking Statements
All statements other than statements of present or historical fact contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including Solid Power’s or its management team’s expectations, objectives, beliefs, intentions or strategies regarding the future. When used herein, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “outlook,” “seek,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may include, but are not limited to, statements regarding potential new joint ventures and anticipated collaboration agreements, Solid Power’s technology, strategy, business model, market opportunity, operations, future prospects, and plans and objectives of management. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Readers are cautioned not to put undue reliance on forward-looking statements and Solid Power cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Solid Power, including the following factors: (i) risks relating to the uncertainty of the success of our research and development efforts, including our ability to achieve the technological objectives or results that our partners require and our ability to commercialize our technology in advance of competing technologies and our competitors; (ii) risks relating to our status as a research and development stage company with a history of financial losses with an expectation of incurring significant expenses and continuing losses for the foreseeable future, including execution of our business plan and the timing of expected business milestones; (iii) risks relating to the non-exclusive nature of our partnerships, our ability to secure new business relationships, and our ability to manage these relationships; (iv) our ability to negotiate and enter into potential joint venture arrangements and new or amended collaboration or other commercial agreements with our partners and customers on commercially reasonable terms; (v) broad market adoption of EVs and other technologies where we are able to deploy our technology, if developed successfully; (vi) our success attracting and retaining our executive officers, key employees, and other qualified personnel; (vii) our ability to protect and maintain our owned and exclusively-licensed intellectual property, including in jurisdictions outside of the United States; (viii) our ability to secure government contracts and grants, changes in government priorities with respect to our government contracts and grants or government funding reductions or delays, and the availability of government subsidies and economic incentives; (ix) delays in the construction and operation of facilities that meet our short-term research and development and long-term electrolyte production requirements; (x) changes in applicable laws or regulations, including tariffs; (xi) risks relating to, and potential liabilities resulting from, our information technology infrastructure and data security incidents, threats, breaches, or attacks; and (xii) risks relating to other economic, business, or competitive factors in the United States and other jurisdictions, including supply chain interruptions and changes in market conditions, and our ability to manage these risks and uncertainties. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the “Risk Factors” sections of Solid Power’s Annual Report on Form 10-K for the year ended December 31, 2025, Solid Power’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2026, June 30, 2026, and September 30, 2026 and other documents filed by Solid Power from time to time with the Securities and Exchange Commission (the “SEC”), all of which are available on the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Solid Power gives no assurance that it will achieve its expectations.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
See the Exhibit index below, which is incorporated herein by reference.
| Exhibit No. |
Description | |
| 99.1 | Solid Power, Inc. Press Release, dated November 3, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: November 3, 2026
| SOLID POWER, INC. | ||
| By: | /s/ Linda Heller | |
| Name: Linda Heller | ||
| Title: Chief Financial Officer, Treasurer, and Secretary | ||
Exhibit 99.1
SOLID POWER REPORTS THIRD QUARTER 2026 RESULTS
LOUISVILLE, Colo., November 3, 2026 – Solid Power, Inc. (Nasdaq: SLDP), a leading developer of solid-state battery technology, today announced its operational and financial results for the third quarter of 2026.
Recent Business Highlights
| · | Introduced materials into our MOBIUS™ continuous electrolyte production line, with full commissioning expected by year-end 2026. |
| · | MOBIUS™ will add 45 metric tons of annual electrolyte production capacity, increasing total annual capacity to 75 metric tons. |
| · | Furthered discussions with leading battery material manufacturing companies regarding a potential joint venture for commercial-scale electrolyte production in the Republic of Korea. |
| · | Provided electrolyte material to key customers including Samsung SDI and SK On in the third quarter. |
| · | Completed Stage 2 of the ISO 9001 certification process, with certification on track for year-end 2026. |
| · | Expanded collaboration opportunities for our electrolyte technology beyond EVs into drone, defense, and humanoid robotics applications, supported by our cell-testing and pilot-production capabilities. |
“The third quarter was marked by continued progress advancing our electrolyte technology and expanding our strategic relationships. We were excited to recently announce that commissioning of MOBIUS™, our next-generation continuous electrolyte production line, is underway,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “We also advanced discussions regarding a potential joint venture in the Republic of Korea as we plan to establish commercial-scale electrolyte manufacturing capabilities. While EVs will continue to be our north star as we scale up, we are also actively pursuing new markets for our technology. Our existing relationships with Tier 1 companies are helping create opportunities to expand into non-EV applications, including humanoid robotics, drones and defense.”
Third Quarter 2026 Financial Highlights
Solid Power reported revenue and grant income of $1.2 million in the third quarter of 2026. Revenue largely consisted of performance on the SK On agreements while grant income recognized was driven by our assistance agreement with the U.S. Department of Energy which is funding a portion of the MOBIUS™ construction.
Operating expenses were $31.1 million in the third quarter of 2026 compared to $30.0 million in the second quarter of 2026, with the increase driven by strategic consulting fees supporting our commercial readiness objectives. Third quarter 2026 operating loss was $29.8 million, and net loss was $24.4 million, or $0.11 per share.
Cash investments during the third quarter of 2026 were $21.5 million bringing the year-to-date total for cash investments to $56.6 million.
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Balance Sheet and Liquidity
Solid Power’s liquidity position remains strong. Total liquidity as of September 30, 2026, was $397.6 million as shown below.
| (in thousands) | September 30, 2026 | December 31, 2025 | ||||||
| Cash and cash equivalents | $ | 23,278 | $ | 21,607 | ||||
| Available-for-sale securities | 374,283 | 314,843 | ||||||
| Total liquidity | $ | 397,561 | $ | 336,450 | ||||
As of September 30, 2026, contract assets and accounts receivable were $6.2 million and total current liabilities were $18.8 million. Solid Power continues to have no debt.
Third quarter 2026 capital expenditures totaled $4.7 million, primarily representing costs for construction of and equipment for MOBIUS ™.
2026 Outlook
Management has reduced its expected 2026 cash investment guidance to be in the range of $75 million to $85 million compared to its prior range of $85 million to $100 million. The revised outlook reflects our continued focus on driving innovation, building internal capabilities and supporting our partners and customers while optimizing expenses.
Webcast and Conference Call
Solid Power will host a conference call at 2:30 p.m. MT (4:30 p.m. ET) today, November 3, 2026. Participating on the call will be John Van Scoter, President and Chief Executive Officer, and Linda Heller, Chief Financial Officer.
The call may be accessed through a live audio webcast on Solid Power’s Investor Relations website at www.solidpowerbattery.com/investor-relations. An audio replay will be available at the same location.
About Solid Power, Inc.
Solid Power is developing solid-state battery technology to enable the next generation of batteries for the fast-growing EV and other markets. Solid Power’s core technology is its electrolyte material, which Solid Power believes can enable extended driving range, longer battery life, improved safety, and lower cost compared to traditional lithium-ion. Solid Power’s business model – selling its electrolyte to cell manufacturers and licensing its cell designs and manufacturing processes – distinguishes the company from many of its competitors who plan to be commercial battery manufacturers. Ultimately, Solid Power endeavors to be a leading producer and distributor of sulfide-based solid electrolyte material for powering both EVs and other applications. For more information, visit http://www.solidpowerbattery.com/.
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Forward-Looking Statements
All statements other than statements of present or historical fact contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including Solid Power’s or its management team’s expectations, objectives, beliefs, intentions or strategies regarding the future. When used herein, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “outlook,” “seek,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may include, but are not limited to, statements regarding potential new joint ventures and anticipated collaboration agreements, Solid Power’s technology, strategy, business model, market opportunity, operations, future prospects, and plans and objectives of management. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Readers are cautioned not to put undue reliance on forward-looking statements and Solid Power cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Solid Power, including the following factors: (i) risks relating to the uncertainty of the success of our research and development efforts, including our ability to achieve the technological objectives or results that our partners require and our ability to commercialize our technology in advance of competing technologies and our competitors; (ii) risks relating to our status as a research and development stage company with a history of financial losses with an expectation of incurring significant expenses and continuing losses for the foreseeable future, including execution of our business plan and the timing of expected business milestones, and our ability to achieve profitability; (iii) risks relating to the non-exclusive nature of our partnerships, our ability to secure new business relationships, and our ability to manage these relationships; (iv) our ability to negotiate and enter into potential joint venture arrangements and new or amended collaboration or other commercial agreements with our partners and customers on commercially reasonable terms and within anticipated timeframes; (v) broad market adoption of EVs and other technologies where we are able to deploy our technology, if developed successfully; (vi) our success attracting and retaining our executive officers, key employees, and other qualified personnel; (vii) our ability to protect and maintain our owned and exclusively-licensed intellectual property, including in jurisdictions outside of the United States; (viii) our ability to secure government contracts and grants, changes in government priorities with respect to our government contracts and grants or government funding reductions or delays, and the availability of government subsidies and economic incentives; (ix) delays or difficulties in financing, permitting, constructing, commissioning, or operating facilities, whether by us or through partners or joint ventures, that meet our production requirements, or in ramping production to achieve anticipated capacity, volumes, yields, quality, and cost targets; (x) changes in applicable laws or regulations, including tariffs; (xi) risks relating to, and potential liabilities resulting from, our information technology infrastructure and data security incidents, threats, breaches, or attacks; and (xii) risks relating to other economic, business, or competitive factors in the United States and other jurisdictions, including supply chain interruptions and changes in market conditions, and our ability to manage these risks and uncertainties. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the “Risk Factors” sections of Solid Power’s Annual Report on Form 10-K for the year ended December 31, 2025, Solid Power’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026, June 30, 2026, and September 30, 2026, and other documents filed by Solid Power from time to time with the Securities and Exchange Commission (the “SEC”), all of which are available on the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Solid Power gives no assurance that it will achieve its expectations.
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Solid Power, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except par value and number of shares)
| September 30, 2026 | ||||||||
| (Unaudited) | December 31, 2025 | |||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 23,278 | $ | 21,607 | ||||
| Restricted cash | 280 | — | ||||||
| Marketable securities | 211,996 | 229,177 | ||||||
| Accounts receivable | 6,166 | 2,155 | ||||||
| Contract assets | — | 7,490 | ||||||
| Prepaid expenses and other current assets | 5,853 | 6,998 | ||||||
| Total current assets | 247,573 | 267,427 | ||||||
| Long-Term Assets | ||||||||
| Property, plant and equipment, net | 81,114 | 86,318 | ||||||
| Right-of-use operating lease assets, net | 6,023 | 6,727 | ||||||
| Investments | 163,600 | 86,997 | ||||||
| Intangible assets, net | 2,151 | 2,166 | ||||||
| Other assets | 740 | 1,059 | ||||||
| Loan receivable from equity method investee | 4,223 | 4,398 | ||||||
| Total long-term assets | 257,851 | 187,665 | ||||||
| Total assets | $ | 505,424 | $ | 455,092 | ||||
| Liabilities, Mezzanine Equity and Stockholders’ Equity | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and other accrued liabilities | 7,172 | 8,521 | ||||||
| Deferred revenue | 3,091 | 198 | ||||||
| Deferred revenue from related parties | — | 172 | ||||||
| Accrued compensation | 7,153 | 7,043 | ||||||
| Operating lease liabilities | 938 | 861 | ||||||
| Warrant liabilities | 418 | — | ||||||
| Total current liabilities | 18,772 | 16,795 | ||||||
| Long-Term Liabilities | ||||||||
| Warrant liabilities | — | 13,881 | ||||||
| Operating lease liabilities | 6,362 | 7,129 | ||||||
| Other liabilities | 1,091 | 1,113 | ||||||
| Total long-term liabilities | 7,453 | 22,123 | ||||||
| Total liabilities | 26,225 | 38,918 | ||||||
| Mezzanine Equity | ||||||||
| Mezzanine Equity | 427 | 470 | ||||||
| Stockholders’ Equity | ||||||||
| Common Stock, $0.0001 par value; 2,000,000,000 shares authorized; 228,276,970 and 201,181,175 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 23 | 20 | ||||||
| Additional paid-in capital | 817,238 | 690,234 | ||||||
| Accumulated deficit | (335,979 | ) | (274,904 | ) | ||||
| Accumulated other comprehensive income (loss) | (2,510 | ) | 354 | |||||
| Total stockholders’ equity | 478,772 | 415,704 | ||||||
| Total liabilities, mezzanine equity and stockholders’ equity | $ | 505,424 | $ | 455,092 | ||||
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Solid Power, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)
(in thousands, except number of shares and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues and Grant Income | ||||||||||||||||
| Revenue | $ | 243 | $ | 3,732 | $ | 1,331 | $ | 15,342 | ||||||||
| Grant income | 981 | 828 | 2,698 | 2,774 | ||||||||||||
| Total revenue and grant income | 1,224 | 4,560 | 4,029 | 18,116 | ||||||||||||
| Operating Expenses | ||||||||||||||||
| Direct costs | 2,530 | 3,632 | 8,197 | 14,790 | ||||||||||||
| Research and development | 18,724 | 18,276 | 55,835 | 55,639 | ||||||||||||
| Selling, general and administrative | 9,810 | 7,074 | 26,471 | 22,008 | ||||||||||||
| Total operating expenses | 31,064 | 28,982 | 90,503 | 92,437 | ||||||||||||
| Operating Loss | (29,840 | ) | (24,422 | ) | (86,474 | ) | (74,321 | ) | ||||||||
| Nonoperating Income and Expense | ||||||||||||||||
| Interest income | 3,976 | 3,050 | 12,160 | 9,887 | ||||||||||||
| Change in fair value of warrant liabilities | 1,572 | (3,464 | ) | 13,463 | (802 | ) | ||||||||||
| Interest expense | (2 | ) | (6 | ) | (209 | ) | (21 | ) | ||||||||
| Other income (expense) | 52 | (58 | ) | (23 | ) | (732 | ) | |||||||||
| Total nonoperating income and expense | 5,598 | (478 | ) | 25,391 | 8,332 | |||||||||||
| Pretax Loss | $ | (24,242 | ) | $ | (24,900 | ) | $ | (61,083 | ) | $ | (65,989 | ) | ||||
| Income tax expense (income) | 1 | 360 | 6 | 365 | ||||||||||||
| Share of net loss (income) of equity method investee | 110 | 607 | 114 | 1 | ||||||||||||
| Net Loss Attributable to Common Stockholders | $ | (24,353 | ) | $ | (25,867 | ) | $ | (61,203 | ) | $ | (66,355 | ) | ||||
| Other Comprehensive Income (Loss) | (905 | ) | 161 | (2,864 | ) | 346 | ||||||||||
| Comprehensive Loss Attributable to Common Stockholders | $ | (25,258 | ) | $ | (25,706 | ) | $ | (64,067 | ) | $ | (66,009 | ) | ||||
| Basic and diluted loss per share | $ | (0.11 | ) | $ | (0.14 | ) | $ | (0.27 | ) | $ | (0.37 | ) | ||||
| Weighted average shares outstanding – basic and diluted | 228,196,750 | 182,350,071 | 223,863,664 | 181,369,650 | ||||||||||||
5
Solid Power, Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| Cash Flows from Operating Activities | ||||||||
| Net loss | $ | (61,203 | ) | $ | (66,355 | ) | ||
| Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||||||||
| Depreciation and amortization | 14,266 | 13,770 | ||||||
| Amortization of right-of-use assets | 870 | 1,071 | ||||||
| Loss on sales of property, plant and equipment, net | 198 | 574 | ||||||
| Share of net loss (income) of equity method investee | 114 | 1 | ||||||
| Stock-based compensation expense | 8,712 | 6,467 | ||||||
| Change in fair value of warrant liabilities | (13,463 | ) | 802 | |||||
| Accretion of discounts on other long-term liabilities | 52 | 49 | ||||||
| Accretion of loan receivable from equity method investee | (107 | ) | (97 | ) | ||||
| Amortization of premiums and accretion of discounts on available-for-sale securities | (2,099 | ) | (3,579 | ) | ||||
| Loss on change in assessment of finance lease purchase options | — | 84 | ||||||
| Impairment loss on abandoned patents | — | 748 | ||||||
| Change in operating assets and liabilities that provided (used) cash and cash equivalents: | ||||||||
| Accounts receivable | 488 | (5,597 | ) | |||||
| Contract assets | 7,490 | — | ||||||
| Prepaid expenses and other current assets and other assets | 1,590 | 2,360 | ||||||
| Accounts payable and other accrued liabilities | (2,423 | ) | (121 | ) | ||||
| Deferred revenue | 2,893 | (2,714 | ) | |||||
| Deferred revenue from related parties | (172 | ) | — | |||||
| Accrued compensation | (482 | ) | (1,684 | ) | ||||
| Operating lease liabilities | (691 | ) | (781 | ) | ||||
| Net cash and cash equivalents used in operating activities | (43,967 | ) | (55,002 | ) | ||||
| Cash Flows from Investing Activities | ||||||||
| Purchases of property, plant and equipment, net | (12,609 | ) | (5,614 | ) | ||||
| Purchases of available-for-sale securities | (293,611 | ) | (158,770 | ) | ||||
| Proceeds from sales of available-for-sale securities | 233,246 | 211,085 | ||||||
| Cash received on loan receivable from equity method investee | 142 | — | ||||||
| Purchases of intangible assets | — | (602 | ) | |||||
| Net cash and cash equivalents (used in) provided by investing activities | (72,832 | ) | 46,099 | |||||
| Cash Flows from Financing Activities | ||||||||
| Proceeds from exercise of stock options | 6 | 1,866 | ||||||
| Proceeds from issuance of shares of common stock under the ESPP | 370 | 156 | ||||||
| Cash paid for withholding of employee taxes related to stock-based compensation | (2,834 | ) | (736 | ) | ||||
| Repurchase of shares of common stock | — | (3,592 | ) | |||||
| Payments on finance lease liabilities | (137 | ) | (232 | ) | ||||
| Proceeds from the ATM, net of commissions and fees | — | 33,412 | ||||||
| Offering costs for the issuance of common stock under the ATM | — | (98 | ) | |||||
| Proceeds from the registered direct offering, net of fees | 121,345 | — | ||||||
| Net cash and cash equivalents provided by financing activities | 118,750 | 30,776 | ||||||
| Net increase in cash and cash equivalents and restricted cash | 1,951 | 21,873 | ||||||
| Cash and cash equivalents and restricted cash at beginning of period | 21,607 | 25,413 | ||||||
| Cash and cash equivalents and restricted cash at end of period | 23,558 | 47,286 | ||||||
| Supplemental information | ||||||||
| Cash paid for interest | $ | 209 | $ | 21 | ||||
| Accrued capital expenditures | 1,240 | 1,933 | ||||||
| Accrued intangibles | — | 155 | ||||||
| Unpaid reimbursements on capital expenditures | 4,500 | 242 | ||||||
| Accrued offering costs for the issuance of common stock under the ATM | — | 421 | ||||||
| Accrued withholding of employee taxes related to stock-based compensation | 592 | — | ||||||
| Accrued excise tax on stock repurchases | — | 35 | ||||||
6
Contacts
investors@solidpowerbattery.com
press@solidpowerbattery.com
Source: Solid Power, Inc.
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