Solid Power Cuts 2026 Cash-Investment Outlook

The Tip Desk · November 10, 2026 · 3 min read

Revenue and grant income were $1.2 million in the third quarter as MOBIUS commissioning began and the company lowered its cash-investment range to $75 million–$85 million.

Solid Power, Inc. (SLDP), a developer of solid-state battery technology, reported revenue and grant income of $1.2 million in the third quarter of 2026, a swing from a reported ($0.3) million in the second quarter after a $1.2 million cumulative catch-up revenue reversal.

The company said revenue largely consisted of performance on the SK On agreements, while grant income was driven by an assistance agreement with the U.S. Department of Energy that is funding a portion of MOBIUS construction. It said it provided electrolyte material to Samsung SDI and SK On in the third quarter.

On a year-ago footing, revenue alone was $243 thousand in the three months ended September 30, 2026, versus $3.7 million in the year-ago quarter; grant income was $981 thousand versus $828 thousand a year earlier.

Operating expenses were $31.1 million, up from $30.0 million in the second quarter, with the increase driven by strategic consulting fees supporting commercial readiness objectives. Operating loss was $29.8 million. Net loss was $24.4 million, or $0.11 a share.

President and Chief Executive Officer John Van Scoter said the quarter was marked by continued progress on electrolyte technology and expanding strategic relationships, and that commissioning of MOBIUS, the next-generation continuous electrolyte production line, is underway. The company said materials were introduced into the line, with full commissioning expected by year-end 2026. MOBIUS will add 45 metric tons of annual electrolyte production capacity, increasing total annual capacity to 75 metric tons.

In the second-quarter update, equipment acceptance testing had been targeted for the third quarter and plant validation and operational startup planned for the fourth quarter.

The company said it furthered discussions with leading battery material manufacturing companies regarding a potential joint venture for commercial-scale electrolyte production in the Republic of Korea. It completed Stage 2 of the ISO 9001 certification process, with certification on track for year-end 2026. Van Scoter said the company is actively pursuing non-EV applications including humanoid robotics, drones and defense, while EVs remain the scaling focus.

Third-quarter capital expenditures totaled $4.7 million, primarily representing costs for construction of and equipment for MOBIUS. Cash investments during the quarter were $21.5 million, bringing the year-to-date total for cash investments to $56.6 million.

Management reduced its expected 2026 cash investment guidance to a range of $75 million to $85 million from a prior range of $85 million to $100 million. The company said the revised outlook reflects a continued focus on driving innovation, building internal capabilities and supporting partners and customers while optimizing expenses.

Total liquidity as of September 30, 2026, was $397.6 million, down from $419.3 million as of June 30, 2026. Cash and cash equivalents were $23.3 million. Contract assets and accounts receivable were $6.2 million, and total current liabilities were $18.8 million. Solid Power continues to have no debt.

The company said it is developing sulfide-based solid electrolyte material for EVs and other applications, selling electrolyte to cell manufacturers and licensing cell designs and manufacturing processes.