What is Solid Power's operating income?

Solid Power's total operating income in 2025 was -$100.83 million, based on the following breakdown: Total Gross Profit: $21.75 million Total Operating Expenses: $122.58 million

Solid Power (SLDP) Financials

$2.02 +0.03 (+1.25%)

As of 12:22 PM Eastern

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Annual Income Statements for Solid Power

This table shows Solid Power's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-14	13	-9.56	-66	-97	-93
Consolidated Net Income / (Loss)	-14	18	-9.56	-66	-97	-93
Net Income / (Loss) Continuing Operations	-14	18	-9.56	-66	-96	-93
Total Pre-Tax Income	-14	18	-9.78	-66	-95	-93
Total Operating Income	-12	-27	-59	-91	-105	-101
Total Gross Profit	2.10	2.71	12	17	20	22
Total Revenue	2.10	2.71	12	17	20	22
Operating Revenue	2.10	2.71	12	17	20	22
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	14	29	71	108	125	123
Selling, General & Admin Expense	1.23	5.66	23	26	32	29
Research & Development Expense	9.59	17	39	55	73	73
Other Operating Expenses / (Income)	1.67	3.07	9.59	28	20	21
Total Other Income / (Expense), net	-2.66	45	49	25	10	7.41
Interest Expense	-0.56	0.39	0.04	0.08	0.05	0.03
Interest & Investment Income	0.03	0.06	8.48	20	18	13
Other Income / (Expense), net	-3.25	45	41	4.89	-7.49	-5.83
Income Tax Expense	0.12	-0.03	-0.23	0.00	1.19	-0.01
Basic Earnings per Share	($0.21)	$0.13	($0.05)	($0.37)	($0.54)	($0.51)
Weighted Average Basic Shares Outstanding	69.23M	95.48M	174.37M	178.01M	179.40M	184.90M
Diluted Earnings per Share	($0.21)	$0.11	($0.05)	($0.37)	($0.54)	($0.51)
Weighted Average Diluted Shares Outstanding	69.23M	114.91M	174.37M	178.01M	179.40M	184.90M
Weighted Average Basic & Diluted Shares Outstanding	-	172.65M	176.78M	181.09M	181.99M	220.58M

This table shows Solid Power's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-15	-19	-21	-22	-22	-31	-15	-25	-26	-27	-13
Consolidated Net Income / (Loss)	-15	-19	-21	-22	-22	-31	-15	-25	-26	-27	-13
Net Income / (Loss) Continuing Operations	-15	-19	-21	-22	-22	-31	-15	-25	-26	-27	-13
Total Pre-Tax Income	-15	-38	-21	-22	-22	-51	-15	-26	-25	-27	-13
Total Operating Income	-21	-26	-26	-27	-28	-25	-24	-26	-24	-27	-26
Total Gross Profit	6.37	2.35	5.95	5.08	4.65	4.46	6.02	7.54	4.56	3.63	3.07
Total Revenue	6.37	2.35	5.95	5.08	4.65	4.46	6.02	7.54	4.56	3.63	3.07
Operating Revenue	6.37	2.35	5.95	5.08	4.65	4.46	6.02	7.54	4.56	3.63	3.07
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	28	28	32	32	32	29	30	33	29	30	29
Selling, General & Admin Expense	6.44	6.25	8.57	8.05	7.95	7.28	8.33	6.61	7.07	7.41	8.12
Research & Development Expense	14	14	19	19	17	19	19	18	18	17	18
Other Operating Expenses / (Income)	7.18	7.38	4.29	5.44	6.97	3.58	2.70	8.46	3.63	5.86	3.55
Total Other Income / (Expense), net	6.36	6.59	4.57	5.17	5.55	-5.16	8.95	-0.14	-0.48	-0.92	13
Interest Expense	0.01	0.05	0.04	0.05	0.01	-0.06	0.01	0.01	0.01	0.00	0.20
Interest & Investment Income	5.21	5.22	5.12	4.52	4.25	3.78	3.60	3.24	3.05	3.45	4.01
Other Income / (Expense), net	1.16	1.41	-0.50	0.70	1.31	-9.00	5.36	-3.37	-3.52	-4.30	9.66
Income Tax Expense	0.00	-	-	0.51	0.38	-	0.00	0.01	0.36	-	0.08
Other Gains / (Losses), net	-	-	-	-	-	-	-0.07	0.68	-0.61	-	-0.07
Basic Earnings per Share	($0.08)	($0.11)	($0.12)	($0.13)	($0.13)	($0.16)	($0.08)	($0.14)	($0.14)	($0.15)	($0.06)
Weighted Average Basic Shares Outstanding	178.39M	178.01M	180.78M	177.59M	179.16M	179.40M	181.40M	180.34M	182.35M	184.90M	217.30M
Diluted Earnings per Share	($0.08)	($0.11)	($0.12)	($0.13)	($0.13)	($0.16)	($0.08)	($0.14)	($0.14)	($0.15)	($0.06)
Weighted Average Diluted Shares Outstanding	178.39M	178.01M	180.78M	177.59M	179.16M	181.99M	181.40M	181.28M	191.02M	184.90M	217.30M
Weighted Average Basic & Diluted Shares Outstanding	178.44M	181.09M	177.05M	178.96M	180.39M	181.99M	179.36M	181.28M	191.02M	220.58M	224.98M

This table details how cash moves in and out of Solid Power's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-5.66	508	-463	-16	-9.12	-3.81
Net Cash From Operating Activities	-10.00	-25	-34	-58	-64	-73
Net Cash From Continuing Operating Activities	-10.00	-25	-34	-58	-64	-73
Net Income / (Loss) Continuing Operations	-14	18	-9.56	-66	-97	-93
Consolidated Net Income / (Loss)	-14	18	-9.56	-66	-97	-93
Depreciation Expense	2.07	2.36	5.18	12	16	18
Amortization Expense	0.00	0.00	-2.37	-10	-6.91	-3.32
Non-Cash Adjustments To Reconcile Net Income	2.45	-46	-34	5.94	19	7.90
Changes in Operating Assets and Liabilities, net	-0.14	0.23	6.56	-0.41	3.68	-2.99
Net Cash From Investing Activities	-1.06	-89	-430	43	64	-20
Net Cash From Continuing Investing Activities	-1.06	-89	-430	43	64	-20
Purchase of Property, Plant & Equipment	-1.02	-13	-58	-35	-16	-10
Acquisitions	-0.04	-0.38	-0.50	-0.56	-1.09	-0.87
Purchase of Investments	0.00	-76	-562	-328	-216	-278
Sale of Property, Plant & Equipment	-	-	-	0.00	0.08	0.02
Sale and/or Maturity of Investments	0.00	0.00	190	405	303	269
Other Investing Activities, net	-	-	-	0.00	-5.61	0.00
Net Cash From Financing Activities	5.40	623	0.49	0.17	-9.43	89
Net Cash From Continuing Financing Activities	5.40	623	0.49	0.17	-9.43	89
Repurchase of Common Equity	0.00	-4.51	-	0.00	-9.07	-3.59
Issuance of Common Equity	-	-	0.00	0.43	0.41	-0.26
Other Financing Activities, net	0.02	495	0.61	-0.25	-0.77	93
Cash Interest Paid	0.35	0.14	0.04	0.08	0.05	0.03

This table details how cash moves in and out of Solid Power's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.98	7.08	-21	17	7.33	-13	4.04	-3.21	21	-26	9.90
Net Cash From Operating Activities	-15	-6.61	-29	-11	-9.85	-14	-26	-14	-14	-18	-19
Net Cash From Continuing Operating Activities	-15	-6.61	-29	-11	-9.85	-14	-26	-14	-14	-18	-19
Net Income / (Loss) Continuing Operations	-15	-19	-21	-22	-22	-31	-15	-25	-26	-27	-13
Consolidated Net Income / (Loss)	-15	-19	-21	-22	-22	-31	-15	-25	-26	-27	-13
Depreciation Expense	2.90	4.16	3.91	4.07	4.02	4.47	4.54	4.60	4.63	4.65	4.73
Amortization Expense	-2.59	-2.48	-2.22	-1.90	-1.50	-1.31	-1.04	-0.71	-0.76	-0.81	-0.50
Non-Cash Adjustments To Reconcile Net Income	-0.65	7.43	-9.35	4.29	11	13	-3.66	2.63	4.51	4.87	-7.92
Changes in Operating Assets and Liabilities, net	0.13	3.33	-0.20	4.71	-1.20	0.98	-11	4.37	3.22	-0.05	-2.04
Net Cash From Investing Activities	14	14	14	31	17	2.07	30	15	1.03	-66	-92
Net Cash From Continuing Investing Activities	14	14	14	31	17	2.07	30	15	1.03	-66	-92
Purchase of Property, Plant & Equipment	-8.34	-4.99	-4.05	-4.41	-2.78	-4.71	-2.35	-2.69	-0.57	-4.60	-1.67
Acquisitions	-0.17	-0.13	-0.15	-0.12	-0.04	-0.78	-0.48	-0.17	0.05	-0.27	0.00
Purchase of Investments	-82	-71	-61	-38	-74	-42	-42	-60	-57	-119	-185
Sale and/or Maturity of Investments	105	90	79	77	96	51	75	77	59	58	95
Net Cash From Financing Activities	-0.10	0.14	-5.09	-3.44	-0.15	-0.75	-0.17	-3.34	34	59	121
Net Cash From Continuing Financing Activities	-0.10	0.14	-5.09	-3.44	-0.15	-0.75	-0.17	-3.34	34	59	121
Issuance of Common Equity	-	0.22	-	-	-	0.17	0.00	-	-0.10	-0.32	121
Other Financing Activities, net	-0.10	-0.08	-0.18	-0.32	-0.15	-0.13	-0.17	0.10	34	59	-0.40
Cash Interest Paid	0.01	0.05	0.04	0.05	-0.05	0.01	0.01	0.01	0.01	0.01	0.00

This table presents Solid Power's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	14	618	594	533	448	455
Total Current Assets	5.48	594	328	183	125	267
Cash & Equivalents	4.97	513	50	35	25	22
Short-Term Investments	0.00	76	273	142	93	229
Accounts Receivable	-	-	-	-	1.39	2.16
Prepaid Expenses	0.23	4.22	2.89	5.52	5.65	7.00
Other Current Assets	0.28	0.83	1.84	1.55	0.00	7.49
Plant, Property, & Equipment, net	8.48	22	83	99	97	86
Total Noncurrent Assets	0.25	1.22	184	251	226	101
Long-Term Investments	-	0.00	173	240	210	87
Noncurrent Note & Lease Receivables	-	0.00	0.92	1.09	4.27	4.40
Intangible Assets	0.25	0.62	1.11	1.65	2.07	2.17
Other Noncurrent Operating Assets	0.00	0.60	8.87	8.21	9.07	7.79
Total Liabilities & Shareholders' Equity	14	618	594	533	448	455
Total Liabilities	10	59	39	29	38	39
Total Current Liabilities	1.84	8.37	21	16	20	17
Accounts Payable	0.26	6.60	11	6.46	8.41	8.52
Current Deferred Revenue	0.04	0.50	4.05	0.83	3.15	0.37
Current Employee Benefit Liabilities	0.30	1.15	4.53	7.59	7.58	7.04
Other Current Liabilities	-	0.00	0.82	1.01	0.83	0.86
Total Noncurrent Liabilities	8.49	51	18	14	18	22
Other Noncurrent Operating Liabilities	3.14	50	18	13	18	22
Redeemable Noncontrolling Interest	-	-	-	0.00	0.03	0.47
Total Equity & Noncontrolling Interests	3.87	559	555	503	410	416
Total Preferred & Common Equity	3.87	559	555	503	410	416
Total Common Equity	3.87	559	555	503	410	416
Common Stock	31	568	578	589	591	690
Retained Earnings	-28	-9.54	-19	-85	-181	-275
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-3.16	-0.56	0.04	0.35

This table presents Solid Power's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	558	544	516	493	471	419	398	416	555
Total Current Assets	230	205	171	161	140	249	240	262	275
Cash & Equivalents	28	27	14	31	38	29	26	47	32
Short-Term Investments	193	166	133	110	94	211	205	204	224
Accounts Receivable	-	-	-	-	-	-	-	2.07	4.22
Prepaid Expenses	3.49	3.21	9.66	7.96	5.28	6.11	4.11	3.73	6.63
Other Current Assets	5.22	8.29	14	12	2.61	2.22	4.63	5.16	8.48
Plant, Property, & Equipment, net	95	99	100	100	100	95	92	89	85
Total Noncurrent Assets	233	240	246	232	231	75	66	65	195
Long-Term Investments	222	229	232	218	216	60	51	50	181
Noncurrent Note & Lease Receivables	0.94	1.01	1.03	0.97	0.91	4.30	4.33	4.36	4.43
Intangible Assets	1.36	1.53	1.80	1.91	1.95	2.54	2.71	2.06	2.16
Other Noncurrent Operating Assets	8.53	8.36	11	11	12	8.87	8.53	8.12	7.45
Total Liabilities & Shareholders' Equity	558	544	516	493	471	419	398	416	555
Total Liabilities	29	26	37	36	31	22	27	35	29
Total Current Liabilities	13	12	18	23	20	10	12	17	17
Accounts Payable	8.07	6.28	7.87	7.29	7.03	6.42	6.12	9.45	12
Current Deferred Revenue	0.02	0.00	3.08	10	6.74	0.00	0.36	0.44	0.37
Current Employee Benefit Liabilities	4.08	4.75	6.27	4.56	5.56	3.14	5.10	5.89	3.31
Other Current Liabilities	0.89	0.95	1.02	1.03	1.02	0.87	0.81	0.84	0.89
Total Noncurrent Liabilities	16	14	19	13	11	12	15	18	12
Other Noncurrent Operating Liabilities	15	14	13	13	11	12	15	18	12
Redeemable Noncontrolling Interest	-	-	-	-	-	0.04	0.14	0.30	0.40
Total Equity & Noncontrolling Interests	529	518	479	457	439	397	371	381	525
Total Preferred & Common Equity	529	518	479	457	439	397	371	381	525
Total Common Equity	529	518	479	457	439	397	371	381	525
Common Stock	583	586	586	586	589	593	592	629	814
Retained Earnings	-50	-66	-106	-128	-151	-196	-222	-248	-288
Accumulated Other Comprehensive Income / (Loss)	-3.37	-3.16	-1.14	-1.15	0.91	0.21	0.23	0.39	-1.05

This table displays calculated financial ratios and metrics derived from Solid Power's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	28.96%	334.70%	47.68%	15.67%	7.98%
EBITDA Growth	0.00%	262.48%	-174.23%	-444.83%	-22.99%	11.33%
EBIT Growth	0.00%	223.96%	-198.97%	-370.63%	-31.60%	5.46%
NOPAT Growth	0.00%	-227.57%	-55.68%	-53.28%	-16.24%	4.27%
Net Income Growth	0.00%	225.86%	-152.81%	-586.02%	-47.25%	3.22%
EPS Growth	0.00%	152.38%	-145.45%	-640.00%	-45.95%	5.56%
Operating Cash Flow Growth	0.00%	-154.53%	-32.96%	-72.25%	-9.68%	-14.86%
Free Cash Flow Firm Growth	0.00%	0.00%	-1,526.38%	29.61%	31.63%	-0.13%
Invested Capital Growth	0.00%	-681.99%	294.27%	48.81%	-11.97%	-4.07%
Revenue Q/Q Growth	0.00%	0.00%	36.54%	-9.61%	11.73%	-3.67%
EBITDA Q/Q Growth	0.00%	0.00%	-147.29%	-27.74%	-8.76%	4.07%
EBIT Q/Q Growth	0.00%	0.00%	-161.57%	-29.31%	-9.51%	2.92%
NOPAT Q/Q Growth	0.00%	0.00%	16.13%	-9.84%	0.57%	-1.50%
Net Income Q/Q Growth	0.00%	0.00%	-128.20%	-39.51%	-13.63%	3.68%
EPS Q/Q Growth	0.00%	0.00%	-114.71%	-42.31%	-10.20%	1.92%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	10.74%	-5.95%	-12.82%	-6.57%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	14.19%	9.75%	-16.57%
Invested Capital Q/Q Growth	0.00%	0.00%	29.11%	-7.91%	-15.25%	-1.83%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-607.70%	765.67%	-130.74%	-482.34%	-512.85%	-421.03%
Operating Margin	-551.26%	-978.83%	-501.48%	-520.51%	-523.03%	-463.66%
EBIT Margin	-705.99%	678.65%	-154.52%	-492.42%	-560.20%	-490.47%
Profit (Net Income) Margin	-683.55%	667.11%	-81.05%	-376.50%	-479.27%	-429.53%
Tax Burden Percent	100.83%	100.14%	97.68%	100.00%	101.39%	99.92%
Interest Burden Percent	96.03%	98.16%	53.70%	76.46%	84.38%	87.64%
Effective Tax Rate	0.00%	-0.14%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-154.66%	0.00%	-287.50%	-85.95%	-88.84%	-88.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-609.93%	0.00%	-293.37%	-85.49%	-82.74%	-81.32%
Return on Net Nonoperating Assets (RNNOA)	-216.59%	0.00%	285.79%	73.57%	67.71%	65.56%
Return on Equity (ROE)	-371.26%	6.43%	-1.72%	-12.38%	-21.13%	-22.60%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-221.23%	-125.18%	-76.11%	-84.02%
Operating Return on Assets (OROA)	-104.50%	5.83%	-3.01%	-15.21%	-23.00%	-23.62%
Return on Assets (ROA)	-101.18%	5.73%	-1.58%	-11.63%	-19.68%	-20.68%
Return on Common Equity (ROCE)	-371.26%	6.43%	-1.72%	-12.38%	-21.13%	-22.59%
Return on Equity Simple (ROE_SIMPLE)	-371.26%	3.24%	-1.72%	-13.02%	-23.53%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.12	-27	-41	-63	-74	-71
NOPAT Margin	-385.88%	-980.19%	-351.03%	-364.35%	-366.12%	-324.56%
Net Nonoperating Expense Percent (NNEP)	455.27%	15.20%	5.87%	-0.46%	-6.10%	-6.85%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-12.59%	-17.96%	-16.98%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	58.35%	208.52%	192.76%	146.75%	158.14%	135.27%
R&D to Revenue	456.21%	630.60%	327.36%	314.47%	364.17%	333.44%
Operating Expenses to Revenue	651.26%	1,078.83%	601.48%	620.51%	623.03%	563.66%
Earnings before Interest and Taxes (EBIT)	-15	18	-18	-86	-113	-107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-13	21	-15	-84	-103	-92
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	90.39	0.68	0.80	0.51	0.83	1.95
Price to Tangible Book Value (P/TBV)	96.58	0.69	0.80	0.52	0.84	1.96
Price to Revenue (P/Rev)	166.43	140.99	37.61	14.86	16.93	37.33
Price to Earnings (P/E)	0.00	30.21	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.31%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	66.96	0.00	0.00	0.00	0.16	6.05
Enterprise Value to Revenue (EV/Rev)	167.08	0.00	0.00	0.00	0.63	21.82
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	1.64	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	1.32	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.36	-1.05	-0.97	-0.86	-0.82	-0.81
Leverage Ratio	3.67	1.12	1.09	1.06	1.07	1.09
Compound Leverage Factor	3.52	1.10	0.58	0.81	0.91	0.96
Debt to Total Capital	62.07%	0.02%	0.00%	0.11%	0.06%	0.00%
Short-Term Debt to Total Capital	12.10%	0.02%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	49.97%	0.00%	0.00%	0.11%	0.06%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.01%	0.11%
Common Equity to Total Capital	37.93%	99.98%	100.00%	99.89%	99.93%	99.89%
Debt to EBITDA	-0.50	0.01	0.00	-0.01	0.00	0.00
Net Debt to EBITDA	-0.11	-28.37	32.18	4.94	3.18	0.00
Long-Term Debt to EBITDA	-0.40	0.00	0.00	-0.01	0.00	0.00
Debt to NOPAT	-0.78	0.00	0.00	-0.01	0.00	0.00
Net Debt to NOPAT	-0.17	22.16	11.99	6.54	4.45	0.00
Long-Term Debt to NOPAT	-0.63	0.00	0.00	-0.01	0.00	0.00
Altman Z-Score	14.60	5.11	7.30	4.93	4.32	11.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	2.97	71.05	15.81	11.53	6.27	15.92
Quick Ratio	2.70	70.44	15.58	11.09	5.92	15.06
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	9.20	-131	-92	-63	-67
Operating Cash Flow to CapEx	-979.90%	-201.63%	-58.02%	-168.81%	-402.77%	-720.32%
Free Cash Flow to Firm to Interest Expense	0.00	23.35	-3,124.89	-1,099.86	-1,373.26	-2,690.34
Operating Cash Flow to Interest Expense	0.00	-64.57	-805.33	-693.58	-1,389.11	-2,935.72
Operating Cash Flow Less CapEx to Interest Expense	0.00	-96.59	-2,193.33	-1,104.44	-1,734.00	-3,343.28
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.15	0.01	0.02	0.03	0.04	0.05
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	12.26
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.25	0.18	0.22	0.19	0.21	0.24
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	29.77
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	29.77
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	5.25	-31	59	88	78	78
Invested Capital Turnover	0.40	-0.21	0.82	0.24	0.24	0.27
Increase / (Decrease) in Invested Capital	0.00	-36	90	29	-11	-3.32
Enterprise Value (EV)	351	-207	-53	-156	13	475
Market Capitalization	350	382	443	259	341	812
Book Value per Share	$0.06	$12.77	$3.18	$2.82	$2.27	$2.18
Tangible Book Value per Share	$0.05	$12.76	$3.18	$2.81	$2.26	$2.16
Total Capital	10	559	555	504	411	416
Total Debt	6.34	0.13	0.01	0.55	0.27	0.00
Total Long-Term Debt	5.10	0.01	0.00	0.55	0.27	0.00
Net Debt	1.36	-589	-496	-415	-328	-338
Capital Expenditures (CapEx)	1.02	13	58	35	16	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.11	-3.20	-16	-8.80	-13	-0.15
Debt-free Net Working Capital (DFNWC)	4.87	586	307	167	105	251
Net Working Capital (NWC)	3.63	586	307	167	105	251
Net Nonoperating Expense (NNE)	6.26	-45	-32	2.12	23	23
Net Nonoperating Obligations (NNO)	1.38	-589	-496	-415	-333	-338
Total Depreciation and Amortization (D&A)	2.07	2.36	2.80	1.76	9.54	15
Debt-free, Cash-free Net Working Capital to Revenue	-4.99%	-118.03%	-135.70%	-50.56%	-64.21%	-0.70%
Debt-free Net Working Capital to Revenue	231.53%	21,612.50%	2,604.82%	960.59%	522.70%	1,152.49%
Net Working Capital to Revenue	172.80%	21,608.08%	2,604.76%	960.59%	522.70%	1,152.49%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.13	($0.05)	($0.37)	($0.54)	($0.51)
Adjusted Weighted Average Basic Shares Outstanding	0.00	95.48M	174.37M	178.01M	179.40M	184.90M
Adjusted Diluted Earnings per Share	$0.00	$0.11	($0.05)	($0.37)	($0.54)	($0.51)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	114.91M	174.37M	178.01M	181.99M	184.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	172.65M	176.78M	181.09M	181.99M	220.58M
Normalized Net Operating Profit after Tax (NOPAT)	-8.12	-19	-41	-63	-74	-71
Normalized NOPAT Margin	-385.88%	-685.18%	-351.03%	-364.35%	-366.12%	-324.56%
Pre Tax Income Margin	-677.94%	666.19%	-82.98%	-376.50%	-472.68%	-429.87%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	46.71	-433.71	-1,020.60	-2,452.57	-4,266.48
NOPAT to Interest Expense	0.00	-67.47	-985.32	-755.17	-1,602.89	-2,823.30
EBIT Less CapEx to Interest Expense	0.00	14.69	-1,821.71	-1,431.45	-2,797.46	-4,674.04
NOPAT Less CapEx to Interest Expense	0.00	-99.49	-2,373.32	-1,166.02	-1,947.78	-3,230.86
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	24.93%	0.00%	0.00%	-9.40%	-3.85%

This table displays calculated financial ratios and metrics derived from Solid Power's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	178,390,443.00	178,437,367.00	178,437,367.00	177,045,891.00	178,962,858.00	-	181,992,040.00	179,362,078.00	181,284,380.00	-	220,578,327.00
DEI Adjusted Shares Outstanding	178,390,443.00	178,437,367.00	178,437,367.00	177,045,891.00	178,962,858.00	-	181,992,040.00	179,362,078.00	181,284,380.00	-	220,578,327.00
DEI Earnings Per Adjusted Shares Outstanding	-0.08	-0.11	-0.12	-0.13	-0.13	-	-0.08	-0.14	-0.14	-	-0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	126.31%	-44.12%	56.99%	3.44%	-26.94%	90.11%	1.06%	48.57%	-1.96%	-18.59%	-48.92%
EBITDA Growth	-32.82%	-423.38%	-1.42%	-40.31%	-18.64%	-36.89%	38.33%	-5.31%	-1.32%	12.53%	17.89%
EBIT Growth	-30.41%	-405.49%	-9.60%	-52.66%	-29.21%	-40.44%	28.96%	-11.45%	-6.32%	9.44%	10.63%
NOPAT Growth	-37.81%	-46.37%	-20.94%	-21.49%	-28.35%	2.38%	6.80%	3.96%	11.49%	-5.94%	-9.64%
Net Income Growth	-22.12%	-3,875.78%	-10.70%	-82.50%	-48.06%	-60.79%	28.56%	-13.76%	-15.38%	11.65%	14.01%
EPS Growth	-14.29%	0.00%	-9.09%	-85.71%	-62.50%	-45.45%	33.33%	-7.69%	-7.69%	6.25%	25.00%
Operating Cash Flow Growth	-103.87%	-98.02%	-48.06%	33.34%	35.81%	-109.82%	9.54%	-29.95%	-44.84%	-32.61%	28.67%
Free Cash Flow Firm Growth	-127.21%	54.08%	53.23%	56.71%	76.68%	85.17%	73.71%	70.99%	65.35%	-39.05%	11.15%
Invested Capital Growth	108.63%	48.81%	40.55%	13.73%	-4.34%	-11.97%	-4.38%	-9.35%	-12.92%	-4.07%	-7.70%
Revenue Q/Q Growth	29.76%	-63.15%	153.75%	-14.75%	-8.35%	-4.11%	34.89%	25.33%	-39.52%	-20.37%	-15.37%
EBITDA Q/Q Growth	-16.74%	-12.55%	-9.10%	2.13%	1.29%	-29.86%	50.84%	-67.12%	5.03%	-12.02%	53.82%
EBIT Q/Q Growth	-18.37%	-19.08%	-8.50%	0.18%	-0.19%	-29.43%	45.11%	-56.59%	4.43%	-10.25%	45.84%
NOPAT Q/Q Growth	3.04%	-19.24%	-0.58%	-4.48%	-2.43%	9.30%	3.98%	-7.67%	5.60%	-8.55%	0.62%
Net Income Q/Q Growth	-24.06%	-25.77%	-11.36%	-5.03%	-0.65%	-36.58%	50.52%	-67.24%	-2.09%	-4.59%	51.84%
EPS Q/Q Growth	-14.29%	-37.50%	-9.09%	-8.33%	0.00%	-23.08%	50.00%	-75.00%	0.00%	-7.14%	60.00%
Operating Cash Flow Q/Q Growth	7.95%	56.93%	-339.71%	61.76%	11.36%	-40.79%	-89.57%	45.06%	1.21%	-28.90%	-1.97%
Free Cash Flow Firm Q/Q Growth	8.47%	27.81%	-0.55%	34.85%	50.69%	54.10%	-78.31%	28.13%	41.10%	-190.19%	27.68%
Invested Capital Q/Q Growth	10.88%	-7.91%	14.29%	-2.55%	-6.74%	-15.25%	24.14%	-7.62%	-10.41%	-1.83%	13.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-314.61%	-960.87%	-413.14%	-474.31%	-510.88%	-691.86%	-252.13%	-336.19%	-527.96%	-742.74%	-405.30%
Operating Margin	-337.68%	-1,092.63%	-433.08%	-530.78%	-593.23%	-561.08%	-399.42%	-343.12%	-535.57%	-730.10%	-857.34%
EBIT Margin	-319.54%	-1,032.52%	-441.49%	-516.93%	-565.10%	-762.76%	-310.37%	-387.77%	-612.81%	-848.47%	-543.02%
Profit (Net Income) Margin	-237.86%	-811.76%	-356.24%	-438.90%	-482.03%	-686.55%	-251.85%	-336.05%	-567.26%	-745.08%	-423.95%
Tax Burden Percent	100.00%	49.85%	100.00%	102.35%	101.71%	59.59%	100.46%	97.42%	103.88%	98.40%	101.21%
Interest Burden Percent	74.44%	157.71%	80.69%	82.96%	83.87%	151.05%	80.77%	88.95%	89.11%	89.24%	77.14%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-64.21%	-180.43%	-68.72%	-79.38%	-79.82%	-95.30%	-57.24%	-58.09%	-98.67%	-138.83%	-121.66%
ROIC Less NNEP Spread (ROIC-NNEP)	-64.19%	-180.18%	-67.97%	-78.53%	-79.01%	-91.79%	-57.73%	-55.83%	-95.97%	-136.28%	-123.12%
Return on Net Nonoperating Assets (RNNOA)	55.69%	155.06%	56.45%	63.81%	63.52%	75.12%	44.73%	43.18%	75.92%	109.88%	98.36%
Return on Equity (ROE)	-8.52%	-25.36%	-12.27%	-15.57%	-16.29%	-20.18%	-12.51%	-14.90%	-22.76%	-28.95%	-23.29%
Cash Return on Invested Capital (CROIC)	-151.84%	-125.18%	-110.80%	-88.49%	-74.64%	-76.11%	-68.99%	-66.75%	-67.27%	-84.02%	-69.83%
Operating Return on Assets (OROA)	-10.78%	-31.89%	-15.87%	-19.42%	-20.07%	-31.32%	-13.40%	-19.74%	-31.19%	-40.85%	-20.96%
Return on Assets (ROA)	-8.03%	-25.08%	-12.80%	-16.49%	-17.12%	-28.19%	-10.88%	-17.11%	-28.88%	-35.87%	-16.37%
Return on Common Equity (ROCE)	-8.52%	-25.36%	-12.27%	-15.57%	-16.29%	-20.18%	-12.51%	-14.90%	-22.75%	-28.93%	-23.28%
Return on Equity Simple (ROE_SIMPLE)	-9.08%	0.00%	-14.10%	0.00%	0.00%	0.00%	-22.78%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-18	-18	-19	-19	-18	-17	-18	-17	-19	-18
NOPAT Margin	-236.38%	-764.84%	-303.15%	-371.54%	-415.26%	-392.75%	-279.59%	-240.18%	-374.90%	-511.07%	-600.14%
Net Nonoperating Expense Percent (NNEP)	-0.02%	-0.24%	-0.75%	-0.85%	-0.81%	-3.51%	0.49%	-2.26%	-2.70%	-2.55%	1.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.56%	-3.76%	-4.12%	-4.39%	-4.27%	-4.24%	-4.89%	-4.48%	-4.46%	-3.51%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	101.23%	266.20%	143.98%	158.60%	170.93%	163.16%	138.41%	87.63%	155.13%	204.05%	264.30%
R&D to Revenue	223.63%	611.98%	317.03%	365.04%	372.37%	417.56%	316.19%	243.26%	400.79%	464.69%	577.58%
Operating Expenses to Revenue	437.68%	1,192.63%	533.08%	630.78%	693.23%	661.08%	499.42%	443.12%	635.57%	830.10%	957.34%
Earnings before Interest and Taxes (EBIT)	-20	-24	-26	-26	-26	-34	-19	-29	-28	-31	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-23	-25	-24	-24	-31	-15	-25	-24	-27	-12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.70	0.51	0.76	0.64	0.55	0.83	0.48	1.06	1.65	1.95	1.26
Price to Tangible Book Value (P/TBV)	0.70	0.52	0.76	0.64	0.55	0.84	0.48	1.07	1.66	1.96	1.27
Price to Revenue (P/Rev)	18.71	14.86	18.51	14.80	13.40	16.93	9.46	17.33	27.86	37.33	35.19
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.16	0.00	1.25	4.10	6.05	2.53
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.63	0.00	4.91	14.52	21.82	12.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.87	-0.86	-0.83	-0.81	-0.80	-0.82	-0.77	-0.77	-0.79	-0.81	-0.80
Leverage Ratio	1.07	1.06	1.07	1.07	1.06	1.07	1.07	1.08	1.08	1.09	1.06
Compound Leverage Factor	0.79	1.68	0.86	0.88	0.89	1.62	0.86	0.96	0.96	0.98	0.81
Debt to Total Capital	0.11%	0.11%	0.10%	0.08%	0.07%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.11%	0.11%	0.10%	0.08%	0.07%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.04%	0.08%	0.11%	0.08%
Common Equity to Total Capital	99.90%	99.89%	99.90%	99.92%	99.93%	99.93%	99.99%	99.96%	99.92%	99.89%	99.92%
Debt to EBITDA	-0.01	-0.01	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	6.42	4.94	4.49	3.93	3.66	3.18	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-0.01	-0.01	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.01	-0.01	-0.01	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	7.30	6.54	5.69	5.13	4.69	4.45	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-0.01	-0.01	-0.01	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	8.39	5.31	5.84	4.73	4.32	4.90	5.08	8.38	10.60	12.16	13.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.04%	0.06%	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	17.12	11.53	9.35	7.01	6.88	6.27	23.90	19.33	15.78	15.92	16.11
Quick Ratio	16.16	11.09	8.04	6.12	6.49	5.92	23.10	18.63	15.25	15.06	15.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-65	-47	-47	-31	-15	-6.95	-12	-8.91	-5.25	-15	-11
Operating Cash Flow to CapEx	-183.97%	-132.57%	-716.95%	-252.25%	-354.86%	-294.71%	-1,116.86%	-536.91%	-2,503.16%	-400.24%	-1,122.26%
Free Cash Flow to Firm to Interest Expense	-4,996.99	-1,042.16	-1,122.75	-627.02	-1,377.15	0.00	-1,549.91	-1,273.10	-874.90	-3,808.25	-55.92
Operating Cash Flow to Interest Expense	-1,180.54	-146.89	-692.02	-226.82	-895.55	0.00	-3,286.38	-2,063.29	-2,378.00	-4,597.75	-95.19
Operating Cash Flow Less CapEx to Interest Expense	-1,822.23	-257.69	-788.55	-316.73	-1,147.91	0.00	-3,580.63	-2,447.57	-2,473.00	-5,746.50	-103.68
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.04
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.26	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.22	0.19	0.21	0.20	0.18	0.21	0.21	0.24	0.24	0.24	0.21
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.77	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.77	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	96	88	101	98	92	78	96	89	80	78	89
Invested Capital Turnover	0.27	0.24	0.23	0.21	0.19	0.24	0.20	0.24	0.26	0.27	0.20
Increase / (Decrease) in Invested Capital	50	29	29	12	-4.17	-11	-4.42	-9.20	-12	-3.32	-7.43
Enterprise Value (EV)	-61	-156	-16	-66	-106	13	-110	111	328	475	226
Market Capitalization	360	259	362	292	242	341	191	393	629	812	662
Book Value per Share	$2.90	$2.82	$2.65	$2.58	$2.46	$2.27	$2.18	$2.07	$2.10	$2.18	$2.38
Tangible Book Value per Share	$2.89	$2.81	$2.64	$2.57	$2.44	$2.26	$2.17	$2.05	$2.09	$2.16	$2.37
Total Capital	518	504	480	457	440	411	397	371	381	416	525
Total Debt	0.54	0.55	0.46	0.38	0.32	0.27	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.54	0.55	0.46	0.38	0.32	0.27	0.00	0.00	0.00	0.00	0.00
Net Debt	-422	-415	-378	-358	-348	-328	-301	-282	-302	-338	-436
Capital Expenditures (CapEx)	8.34	4.99	4.05	4.41	2.78	4.71	2.35	2.69	0.57	4.60	1.67
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.48	-8.80	5.68	-2.64	-12	-13	-2.10	-3.66	-5.65	-0.15	2.28
Debt-free Net Working Capital (DFNWC)	193	167	152	138	120	105	239	227	246	251	258
Net Working Capital (NWC)	193	167	152	138	120	105	239	227	246	251	258
Net Nonoperating Expense (NNE)	0.09	1.10	3.16	3.42	3.11	13	-1.67	7.23	8.77	8.50	-5.41
Net Nonoperating Obligations (NNO)	-422	-415	-378	-358	-348	-333	-301	-282	-302	-338	-436
Total Depreciation and Amortization (D&A)	0.31	1.68	1.69	2.16	2.52	3.16	3.50	3.89	3.87	3.84	4.23
Debt-free, Cash-free Net Working Capital to Revenue	-2.47%	-50.56%	29.03%	-13.39%	-69.08%	-64.21%	-10.38%	-16.15%	-25.02%	-0.70%	12.14%
Debt-free Net Working Capital to Revenue	1,002.04%	960.59%	778.29%	698.47%	663.29%	522.70%	1,182.30%	1,002.66%	1,087.73%	1,152.49%	1,370.41%
Net Working Capital to Revenue	1,002.04%	960.59%	778.29%	698.47%	663.29%	522.70%	1,182.30%	1,002.66%	1,087.73%	1,152.49%	1,370.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	($0.11)	($0.12)	($0.13)	($0.13)	($0.16)	($0.08)	($0.14)	($0.14)	($0.15)	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	178.39M	178.01M	180.78M	177.59M	179.16M	179.40M	181.40M	180.34M	182.35M	184.90M	217.30M
Adjusted Diluted Earnings per Share	($0.08)	($0.11)	($0.12)	($0.13)	($0.13)	($0.16)	($0.08)	($0.14)	($0.14)	($0.15)	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	178.39M	178.01M	180.78M	177.59M	179.16M	181.99M	181.40M	181.28M	191.02M	184.90M	217.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	178.44M	181.09M	177.05M	178.96M	180.39M	181.99M	179.36M	181.28M	191.02M	220.58M	224.98M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-18	-18	-19	-19	-18	-17	-18	-17	-19	-18
Normalized NOPAT Margin	-236.38%	-764.84%	-303.15%	-371.54%	-415.26%	-392.75%	-279.59%	-240.18%	-374.90%	-511.07%	-600.14%
Pre Tax Income Margin	-237.86%	-1,628.39%	-356.24%	-428.83%	-473.94%	-1,152.17%	-250.68%	-344.93%	-546.05%	-757.20%	-418.87%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1,564.77	-538.29	-625.76	-535.39	-2,389.36	0.00	-2,334.00	-4,176.86	-4,657.33	-7,702.00	-84.71
NOPAT to Interest Expense	-1,157.53	-398.74	-429.68	-384.81	-1,755.79	0.00	-2,102.54	-2,587.10	-2,849.23	-4,639.25	-93.62
EBIT Less CapEx to Interest Expense	-2,206.46	-649.09	-722.29	-625.31	-2,641.73	0.00	-2,628.25	-4,561.14	-4,752.33	-8,850.75	-93.19
NOPAT Less CapEx to Interest Expense	-1,799.22	-509.54	-526.21	-474.73	-2,008.15	0.00	-2,396.79	-2,971.39	-2,944.23	-5,788.00	-102.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-7.27%	-10.65%	-9.74%	-9.40%	-4.60%	-4.69%	-4.53%	-3.85%	0.00%

Financials Breakdown Chart

Key Financial Trends

Solid Power (NASDAQ: SLDP) continues to operate with a sizable cash cushion, but the latest quarter shows the company is still burning cash and depending on financing to support its business. For Q1 2026, revenue came in at $3.1 million, down from $3.6 million in Q4 2025 and $4.6 million in Q3 2025. The company reported a net loss of $13.0 million, an improvement from $27.1 million in Q4 2025, while operating cash flow remained negative at ($18.8 million).

Over the last several years, Solid Power has shown a pattern of high R&D spending, limited revenue, and recurring losses. That said, the balance sheet remains a key strength: as of March 31, 2026, the company held $31.5 million in cash and $223.9 million in short-term investments, plus $181.0 million in long-term investments. Total liquidity is substantial for now, which helps offset ongoing operating losses.

Here are the most important trends investors should watch:

Strong liquidity position: Solid Power ended Q1 2026 with $255.4 million in cash and short-term investments, plus another $181.0 million in long-term investments.
Net loss improved sequentially: Q1 2026 loss of $13.0 million was narrower than the $27.1 million loss in Q4 2025.
Cash balance increased in Q1 2026: Net change in cash and equivalents was + $9.9 million, helped by financing inflows and investment activity.
Revenue is still being generated: Q1 2026 revenue of $3.1 million shows the company is not pre-revenue, though the scale is still very small.
Operating capital requirements are modest relative to assets: Total current liabilities were only $17.1 million against $274.7 million in current assets.
Investment portfolio is a major source of liquidity: The company relies heavily on investments, with large purchases and maturities influencing cash flow each quarter.
Heavy R&D remains the core expense: Q1 2026 R&D spending was $17.7 million, reflecting continued development-stage investment.
Operating cash flow remains negative: Q1 2026 operating cash flow was ($18.8 million), consistent with prior periods.
Revenue declined year over year: Q1 2026 revenue of $3.1 million was below $6.0 million in Q1 2025 and $5.9 million in Q1 2024.
Recurring losses continue: The company has posted losses every quarter shown, including Q1 2025 and Q4 2024 losses near or above $15 million to $30 million.

Longer-term, the trend is clear: Solid Power has maintained a large cash and investment reserve, but it has not yet translated its technology efforts into consistent revenue growth or profitability. Quarterly revenue has generally hovered in the low single-digit millions, while quarterly operating losses have remained substantial. The company’s future will likely depend on converting its R&D investment into commercial traction before its liquidity runway gets meaningfully reduced.

Bottom line: Solid Power’s balance sheet gives it breathing room, but the business still looks like a development-stage story. Investors should focus on whether revenue begins to scale and whether quarterly cash burn starts to come down in a durable way.

07/30/26 12:22 PM ETAI Generated. May Contain Errors.

Solid Power Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Solid Power's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Solid Power's net income appears to be on an upward trend, with a most recent value of -$93.41 million in 2025, rising from -$14.38 million in 2020. The previous period was -$96.52 million in 2024. View Solid Power's forecast to see where analysts expect Solid Power to go next.

Solid Power's total operating income in 2025 was -$100.83 million, based on the following breakdown:

Total Gross Profit: $21.75 million
Total Operating Expenses: $122.58 million

Over the last 5 years, Solid Power's total revenue changed from $2.10 million in 2020 to $21.75 million in 2025, a change of 934.1%.

Solid Power's total liabilities were at $38.92 million at the end of 2025, a 2.6% increase from 2024, and a 276.6% increase since 2020.

In the past 5 years, Solid Power's cash and equivalents has ranged from $4.97 million in 2020 to $513.45 million in 2021, and is currently $21.61 million as of their latest financial filing in 2025.

Over the last 5 years, Solid Power's book value per share changed from 0.06 in 2020 to 2.18 in 2025, a change of 3,793.0%.

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Financial statements for NASDAQ:SLDP last updated on 5/26/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Solid Power (SLDP) Financials

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Solid Power Financials - Frequently Asked Questions

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Solid Power (SLDP) Financials

Annual Income Statements for Solid Power

Quarterly Income Statements for Solid Power

Annual Cash Flow Statements for Solid Power

Quarterly Cash Flow Statements for Solid Power

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Quarterly Balance Sheets for Solid Power

Annual Metrics And Ratios for Solid Power

Quarterly Metrics And Ratios for Solid Power

Financials Breakdown Chart

Key Financial Trends

Solid Power Financials - Frequently Asked Questions

When does Solid Power's financial year end?

How has Solid Power's net income changed over the last 5 years?

What is Solid Power's operating income?

How has Solid Power's revenue changed over the last 5 years?

How much debt does Solid Power have?

How much cash does Solid Power have?

How has Solid Power's book value per share changed over the last 5 years?

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