2023 Q4 Form 10-Q Financial Statement

#000155837023018110 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $2.347M $6.366M $2.813M
YoY Change -44.09% 126.31% 347.93%
Cost Of Revenue $7.377M $7.180M $3.544M
YoY Change 615.52% 102.6% 399.86%
Gross Profit -$5.030M -$820.0K -$731.0K
YoY Change -258.83% 12.18% 802.47%
Gross Profit Margin -214.32% -12.88% -25.99%
Selling, General & Admin $6.243M $6.440M $4.294M
YoY Change -9.48% 49.98% 7.35%
% of Gross Profit
Research & Development $14.36M $14.24M $9.710M
YoY Change 4.19% 46.61% 120.68%
% of Gross Profit
Depreciation & Amortization $4.157M $2.900M $1.690M
YoY Change 70.86% 71.6% 1.02%
% of Gross Profit
Operating Expenses $20.60M $27.86M $18.41M
YoY Change -0.37% 51.33% 119.19%
Operating Profit -$25.63M -$21.50M -$15.60M
YoY Change 46.37% 37.81% 427.75%
Interest Expense $5.179M $13.00K $12.00K
YoY Change -64.72% 8.33% -185.71%
% of Operating Profit
Other Income/Expense, Net $1.410M $6.355M $3.116M
YoY Change -35.82% 103.95% -155900.0%
Pretax Income -$19.04M -$15.14M -$12.48M
YoY Change 2898.74% 21.3% 46.91%
Income Tax $0.00 $0.00 -$84.00K
% Of Pretax Income
Net Earnings -$19.04M -$15.14M -$12.40M
YoY Change 3875.37% 22.12% -314.26%
Net Earnings / Revenue -811.33% -237.86% -440.77%
Basic Earnings Per Share -$0.08 -$0.07
Diluted Earnings Per Share -$0.11 -$0.08 -$0.07
COMMON SHARES
Basic Shares Outstanding 178.4M 178.4M 174.5M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.0M $193.5M $368.5M
YoY Change -45.51% -47.5% 237.27%
Cash & Equivalents $34.54M $27.46M $97.70M
Short-Term Investments $141.5M $166.0M $270.8M
Other Short-Term Assets $5.523M $3.200M $2.444M
YoY Change 91.24% 30.93% 121.58%
Inventory
Prepaid Expenses
Receivables $1.553M $8.300M $3.301M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $183.1M $205.0M $374.3M
YoY Change -44.14% -45.23% 237.14%
LONG-TERM ASSETS
Property, Plant & Equipment $99.16M $99.24M $74.38M
YoY Change 19.81% 33.42% 454.88%
Goodwill
YoY Change
Intangibles $1.650M $1.525M $921.0K
YoY Change 48.92% 65.58%
Long-Term Investments $239.6M $228.8M $139.0M
YoY Change 38.5% 64.56%
Other Assets $1.060M $1.057M $1.178M
YoY Change -7.67% -10.27%
Total Long-Term Assets $349.7M $338.9M $223.5M
YoY Change 31.14% 51.65% 1515.43%
TOTAL ASSETS
Total Short-Term Assets $183.1M $205.0M $374.3M
Total Long-Term Assets $349.7M $338.9M $223.5M
Total Assets $532.8M $543.9M $597.8M
YoY Change -10.37% -9.01% 378.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.455M $6.300M $9.946M
YoY Change -35.9% -36.66% 669.22%
Accrued Expenses $8.216M $5.400M $4.753M
YoY Change 29.73% 13.61% 150.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $379.0K $300.0K $24.00K
YoY Change 5314.29% 1150.0% -98.05%
Total Short-Term Liabilities $15.88M $11.97M $15.15M
YoY Change -23.41% -20.98% 238.18%
LONG-TERM LIABILITIES
Long-Term Debt $552.0K $500.0K $2.000K
YoY Change -8.31% 24900.0% -99.65%
Other Long-Term Liabilities $803.0K $13.80M $28.97M
YoY Change -95.47% -52.37% 10832.45%
Total Long-Term Liabilities $803.0K $14.30M $2.000K
YoY Change -95.62% 714900.0% -99.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.88M $11.97M $15.15M
Total Long-Term Liabilities $803.0K $14.30M $2.000K
Total Liabilities $29.46M $26.31M $44.83M
YoY Change -24.61% -41.3% 718.18%
SHAREHOLDERS EQUITY
Retained Earnings -$84.64M -$65.60M -$18.61M
YoY Change 343.37% 252.46% -65.76%
Common Stock $588.5M $586.4M $575.4M
YoY Change 1.89% 1.91% 439235777.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $503.3M $517.6M $553.0M
YoY Change
Total Liabilities & Shareholders Equity $532.8M $543.9M $597.8M
YoY Change -10.37% -9.01% 70.38%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$19.04M -$15.14M -$12.40M
YoY Change 3875.37% 22.12% -314.26%
Depreciation, Depletion And Amortization $4.157M $2.900M $1.690M
YoY Change 70.86% 71.6% 1.02%
Cash From Operating Activities -$6.610M -$15.35M -$7.528M
YoY Change 98.02% 103.91% -58.25%
INVESTING ACTIVITIES
Capital Expenditures $5.114M $8.510M -$17.04M
YoY Change -51.62% -149.95% 151.97%
Acquisitions
YoY Change
Other Investing Activities $18.66M $22.98M -$179.6M
YoY Change -155.49% -112.8%
Cash From Investing Activities $13.55M $14.47M -$196.6M
YoY Change -130.65% -107.36% 2807.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 142.0K -100.0K 249.0K
YoY Change -494.44% -140.16% -99.81%
NET CHANGE
Cash From Operating Activities -6.610M -15.35M -7.528M
Cash From Investing Activities 13.55M 14.47M -196.6M
Cash From Financing Activities 142.0K -100.0K 249.0K
Net Change In Cash 7.079M -980.0K -203.9M
YoY Change -114.88% -99.52% -295.5%
FREE CASH FLOW
Cash From Operating Activities -$6.610M -$15.35M -$7.528M
Capital Expenditures $5.114M $8.510M -$17.04M
Free Cash Flow -$11.72M -$23.86M $9.510M
YoY Change -15.71% -350.89% -184.38%

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259000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27458000
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2309000
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CapitalExpendituresIncurredButNotYetPaid
7818000
us-gaap Nature Of Operations
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;line-height:11pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Note 1 – Nature of Business</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:11pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';">Solid Power, Inc. (the “Company”) is developing solid state battery technology to enable the next generation of batteries for the fast-growing EV and other markets. The Company’s planned business model is to sell its sulfide-based solid electrolyte and to license its solid-state cell designs and manufacturing process. </span></p>
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FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
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0.0000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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