Solid Power, Inc.
solidpowerbattery.comWhat Do They Do?
Develops and sells sulfide-based solid electrolyte material and licenses cell designs and manufacturing processes to battery manufacturers and automakers.
10-K for FY2025, filed Feb 25, 2026
How Do They Make Money?
Non-government customers pay for partner development and line-installation work as Solid Power performs it; electrolyte sales are earned when goods are delivered. Government contracts cover project costs, sometimes with an added fee, while grant income is tied to project conditions.
10-K for FY2025, filed Feb 25, 2026We recognized $15.8 million and $17.4 million of collaborative revenue for the years ended December 31, 2025 and 2024, respectively, which…View ↗
Prior to January 1, 2025, the Company recognized revenue from the Company’s collaborative arrangement, including the SK On Agreements, over…View ↗
The Company recognizes revenue from cooperative agreements with the government in cost contracts on the basis of costs incurred during the…View ↗
On January 21, 2025, Solid Power Operating, Inc., a consolidated subsidiary, entered into an assistance agreement with the U.S. Department…View ↗
For electrolyte sales, the Company recognizes revenue when the control of the goods is transferred to the customer and for the amount of…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$21.7M
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10-K for FY2025, filed Feb 25, 2026
$21.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Government
Recurring
10-K for FY2025, filed Feb 25, 2026 |
12% |
Government, FY2025
$2.1M Sources
|
Recurring |
|
Non-government
Recurring
10-K for FY2025, filed Feb 25, 2026 |
88% |
Non-government, FY2025
$15.8M Sources
|
Recurring |
Who Are Their Customers?
Tier 1 battery manufacturers and automakers that make their own cells are target buyers; Solid Power sells them electrolyte and offers licenses for cell designs and manufacturing processes.
10-K for FY2025, filed Feb 25, 2026Our commercialization strategy is to manufacture and sell electrolyte to Tier 1 battery manufacturers and automotive original equipment…View ↗
Do Revenues Turn Into Profits?
No. It lost $93.4M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$100.8MView ↗
10-K for FY2025, filed Feb 25, 2026
−$93.4MView ↗
10-K for FY2025, filed Feb 25, 2026
−$83.6MView ↗
How Are They Changing?
Growing. Revenue grew 8.0x in 4 years, from $2.7M in FY2021 to $21.7M in FY2025, about 68% a year.
Cell work supports an electrolyte focus
The older report describes cell and electrolyte development as parallel efforts. The latest report presents cell work mainly as a way to improve the electrolyte and support partners’ cell programs, with the commercial model centered on supplying electrolyte and licensing processes.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026We currently produce our solid-state cells on pre-pilot and pilot cell manufacturing lines. Our cell manufacturing processes were developed…View ↗
Our commercialization strategy is to manufacture and sell electrolyte to Tier 1 battery manufacturers and automotive original equipment…View ↗
Through the sampling process, we have seen a variety in approaches to cell designs and, accordingly, are focused on developing a strong…View ↗
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