Solid State: FY25/26 revenue up 23.2% to GBP 154.1M

Solid Power, Inc. (Nasdaq: SLDP), a developer of solid-state battery technology, reported full-year 2025 financial results, showing a 23.2% increase in revenue to GBP 154.1 million compared to 2024. The growth was primarily driven by line installation agreement with SK On. Total revenue for 2025 was $21.7 million, up from $20.1 million in 2024, with grant income contributing an additional $3.8 million.

Despite the revenue increase, the company reported operating loss of $100.8 million and a net loss of $93.4 million, or $0.51 per share, for the year. Operating expenses rose to $122.6 million in 2025, reflecting ongoing research and development costs and support for SK On agreements.

Solid Power maintained a strong liquidity position, with total liquidity of $336.5 million as of December 31, 2025, including $21.6 million in cash and cash equivalents and $314.8 million in available-for-sale securities. The company raised $89.4 million in net proceeds through an at-the-market offering program in 2025, supporting its operational and capital expenditure needs.

Looking ahead, Solid Power outlined key objectives for 2026, including advancing electrolyte development, strengthening partnerships, and maintaining fiscal discipline. The company expects 2026 cash investment to range between $85 million and $100 million. Solid Power also announced a $130 million registered direct offering in January 2026, which it said will extend its financial runway and support commercialization efforts.

The company’s 2025 capital expenditures totaled $10.2 million, primarily for planned construction of a pilot line. Solid Power remains focused on commercializing its all-solid-state battery technology and has made progress with partners such as Samsung SDI and BMW.