Revenue remains highly inconsistent due to milestone dependency, with quarterly figures swinging between $2.3 million and $6.5 million while gross margins collapsed to -97.4% in 2026Q1.
| Sales/Revenue | 18.8M | 21.75M | 20.14M | 17.41M | 11.79M | 2.71M | 2.1M | 2.28M |
| Revenue Growth % | -6.92% | 7.98% | 15.67% | 47.68% | 334.7% | 28.96% | -7.59% | - |
| Cost of Goods Sold | 24.02M | 20.65M | 20.28M | 27.73M | 9.59M | 3.07M | 1.67M | 1.82M |
| COGS % of Revenue | - | 94.95% | 100.72% | 159.28% | 81.36% | 113.31% | 79.41% | 80.04% |
| Gross Profit | -5.21M | 1.1M | -145K | -10.32M | 2.2M | -361K | 433K | 454.31K |
| Gross Margin % | -27.73% | 5.05% | -0.72% | -59.28% | 18.64% | -13.31% | 20.59% | 19.96% |
| Gross Profit Growth % | - | 857.24% | 98.6% | -569.78% | 708.59% | -183.37% | -4.69% | - |
| Operating Expenses | 97.93M | 101.93M | 105.19M | 80.3M | 61.32M | 26.18M | 12.03M | 9.7M |
| OpEx % of Revenue | - | 468.71% | 522.31% | 461.22% | 520.11% | 965.52% | 571.85% | 426.27% |
| Selling, General & Admin | 29.21M | 29.42M | 31.85M | 25.55M | 22.72M | 9.08M | 2.43M | 1.54M |
| SG&A % of Revenue | - | 135.27% | 158.14% | 146.75% | 192.76% | 334.92% | 115.64% | 67.84% |
| Research & Development | 71.24M | 72.51M | 73.34M | 54.75M | 38.59M | 9.59M | 7.51M | 7.24M |
| R&D % of Revenue | - | 333.44% | 364.17% | 314.47% | 327.36% | 353.76% | 357.01% | 318.16% |
| Other Operating Expenses | -1.83M | 0 | 0 | 0 | 0 | 7.51M | 2.09M | 916.57K |
| Operating Income | -103.15M | -100.83M | -105.33M | -90.62M | -59.12M | -26.55M | -11.59M | -9.25M |
| Operating Margin % | -548.55% | -463.66% | -523.03% | -520.51% | -501.48% | -978.83% | -551.26% | -406.31% |
| Operating Income Growth % | - | 4.27% | -16.24% | -53.28% | -122.7% | -128.98% | -25.37% | - |
| EBITDA | -82.86M | -81.04M | -88.87M | -78.66M | -53.94M | -24.19M | -9.53M | -7.81M |
| EBITDA Margin % | -440.66% | -372.65% | -441.28% | -451.8% | -457.57% | -891.81% | -452.97% | -343.06% |
| EBITDA Growth % | 4.19% | 8.81% | -12.98% | -45.82% | -123.03% | -153.89% | -22.01% | - |
| D&A (Non-Cash Add-back) | 20.29M | 19.79M | 16.46M | 11.96M | 5.18M | 2.36M | 2.07M | 1.44M |
| EBIT | -104.6M | -93.46M | -105.33M | -90.62M | -59.12M | -26.55M | -11.59M | -8.33M |
| Net Interest Income | 13.4M | 13.18M | 17.63M | 20.18M | 8.43M | -338K | -333K | 172.95K |
| Interest Income | 13.62M | 13.2M | 17.67M | 20.27M | 8.48M | 56K | 28K | 232.32K |
| Interest Expense | 214K | 25K | 46K | 84K | 42K | 394K | 361K | 59.37K |
| Other Income/Expense | 11.94M | 7.41M | 10.01M | 25.07M | 49.34M | 44.61M | -2.66M | 172.95K |
| Pretax Income | -91.28M | -93.48M | -95.33M | -65.55M | -9.78M | 18.07M | -14.26M | -9.07M |
| Pretax Margin % | -485.41% | -429.87% | -473.34% | -376.5% | -82.98% | 666.19% | -677.94% | -398.71% |
| Income Tax | 76K | -8K | 1.19M | 0 | -227K | -25K | 118K | 134.64K |
| Effective Tax Rate % | -0.08% | 0.01% | -1.25% | 0% | 2.32% | -0.14% | -0.83% | -1.48% |
| Net Income | -91.29M | -93.41M | -96.52M | -65.55M | -9.55M | 18.09M | -14.38M | -9.21M |
| Net Margin % | -485.47% | -429.53% | -479.27% | -376.5% | -81.05% | 667.11% | -683.55% | -404.63% |
| Net Income Growth % | -0.91% | 3.22% | -47.25% | -586.02% | -152.81% | 225.86% | -56.11% | - |
| Net Income (Continuing) | -91.29M | -93.41M | -96.52M | -65.55M | -9.55M | 18.09M | -14.38M | -9.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -420.10 | -0.51 | -0.54 | -0.37 | -0.05 | 0.08 | -0.21 | -0.06 |
| EPS Growth % | -1733.33% | 5.56% | -45.95% | -575.18% | -172.58% | 136.7% | -274% | - |
| EPS (Basic) | - | -0.51 | -0.54 | -0.37 | -0.05 | 0.08 | -0.21 | -0.06 |
| Diluted Shares Outstanding | 217.3K | 184.9M | 179.4M | 178.01M | 174.37M | 167.56M | 69.89M | 167.56M |
| Basic Shares Outstanding | 217.3K | 184.9M | 179.4M | 178.01M | 174.37M | 167.56M | 69.89M | 167.56M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Liquidity and commercialization timeline
As reported in recent financial statements, SLDP's revenue trajectory remains highly volatile, with quarterly figures fluctuating between $2.3 million and $6.5 million, reflecting a reliance on non-recurring milestone-based R&D payments rather than consistent, scalable commercial demand for its sulfide-based electrolyte materials.
The lack of a predictable revenue cadence suggests that the company is still in the early stages of its commercial transition. Investors should monitor whether future revenue growth can decouple from project-specific JDA milestones and begin to reflect sustained material supply contracts.
Based on the company's reported figures, gross margins have swung wildly from a peak of 55.2% in 2025Q1 to a low of -97.4% in 2026Q1, indicating that the firm has yet to achieve the production consistency required for stable unit economics.
This extreme margin variance appears to be a function of low-volume pilot production where small changes in output or cost allocation disproportionately impact profitability. Until the company achieves continuous-flow manufacturing, gross margins will likely remain an unreliable indicator of long-term pricing power.
According to recent SEC filings, SLDP maintains a rigid cost structure dominated by R&D expenditures that consistently exceed $17 million per quarter, creating a significant disconnect between current operational output and the capital required to sustain its technical development roadmap.
The company's inability to scale operating expenses in line with revenue suggests that the current business model is heavily front-loaded with R&D and depreciation costs. This cost discipline warrants further investigation as the company approaches critical B-sample qualification milestones.
With TTM operating losses reaching approximately $100 million against a cash position of $47.3 million, the company faces a precarious financial position that may necessitate dilutive financing or a strategic pivot to preserve capital in the near term.
The current burn rate suggests that the company's technical runway is rapidly shortening, which may force management to prioritize short-term cash preservation over long-term R&D objectives. Investors should be wary of the potential for a liquidity crisis if commercial milestones are delayed further.
Quick answers to the most common questions about buying SLDP stock.
For fiscal year 2025, Solid Power, Inc. (SLDP) reported total revenue of $21.7M. This represents a 855.6% increase compared to $2.3M in 2019.
Solid Power, Inc. (SLDP) reported a net loss of $93.4M for the fiscal year ending 2025.
Solid Power, Inc. (SLDP) reported an operating income of $-100.8M, resulting in an operating profit margin of -463.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Solid Power, Inc. (SLDP) generated $1.1M in gross profit for the year, representing a gross profit margin of 5.0%. This demonstrates the company's core pricing power and production efficiency.