Solid Power, Inc. has recently released its 10-K report, detailing its operations and financial performance. The company, headquartered in Louisville, Colorado, is a leader in solid-state battery technology and manufacturing processes, focusing on developing sulfide-based solid electrolyte materials for use in lithium-ion battery cells, primarily targeting the electric vehicle (EV) market.
In the year ended December 31, 2025, Solid Power reported total revenue and grant income of $21.7 million, representing an 8% increase from the previous year. The revenue was primarily driven by performance on non-government contracts and certain government contracts. Collaborative revenue for the year ended December 31, 2025, was $15.8 million, while government revenue was $6.0 million.
Operating expenses for the same period decreased by $2.9 million compared to the previous year, primarily due to a decrease in selling, general, and administrative costs resulting from reduced external contractors and outside consultants.
Nonoperating income and expense for the year ended December 31, 2025, decreased by $2.8 million compared to the previous year, primarily due to a decrease in interest income earned and a change in other expenses.
As of December 31, 2025, Solid Power's total liquidity, including cash and cash equivalents as well as available-for-sale securities, was $336.5 million, an increase of $9.0 million compared to the previous year. The company believes its cash on hand is sufficient to meet its operating cash needs and working capital and capital expenditure requirements for at least the next 12 months.
Solid Power raised gross proceeds of $91.2 million through the sale of 18,023,085 shares of common stock during the year ended December 31, 2025, under an At-the-Market offering. Additionally, the company repurchased 3,361,396 shares of common stock at an average cost of $1.05 per share for an aggregate cost of approximately $3.53 million during the same period.
The company anticipates its total combined capital expenditures and cash flow from operations for 2026 to be between $85 million and $100 million and expects to fund its short-term liquidity requirements through its cash on hand and other liquid assets. The market has reacted to these announcements by moving the company's shares -0.53% to a price of $5.60. For more information, read the company's full 10-K submission here.
