Solid Power Cuts 2026 Cash Investment Outlook To $75 Million-$85 Million
The solid-state battery developer posted a $24.4 million third-quarter net loss on $1.2 million of revenue and grant income.
Solid Power, which develops solid-state battery technology built around a sulfide-based electrolyte, lowered its 2026 cash investment forecast to $75 million to $85 million, from a prior range of $85 million to $100 million. The company reported the cut Tuesday alongside a third-quarter net loss of $24.4 million, or $0.11 per share, in an 8-K filing.
Thin revenue, higher spending
Third-quarter revenue and grant income totaled $1.2 million. Revenue largely reflected work on SK On agreements, while grant income came from a Department of Energy agreement that helps fund construction of the MOBIUS electrolyte production line.
Operating expenses rose to $31.1 million from $30.0 million in the second quarter, which the company attributed to strategic consulting fees supporting its commercial readiness goals. The operating loss was $29.8 million.
For the first nine months, revenue was $1.3 million, against $15.3 million a year earlier. Nine-month net loss narrowed to $61.2 million from $66.4 million.
Cash burn and a no-debt balance sheet
Cash investments were $21.5 million in the quarter and $56.6 million for the year to date, which puts the company inside its lowered range with room to spare. Management said the revised outlook reflects continued focus on innovation and supporting partners while optimizing expenses.
Total liquidity stood at $397.6 million at September 30, up from $336.5 million at the end of 2025, and the company continues to have no debt. Shares outstanding rose to 228,276,970 from 201,181,175 at year-end; the cash flow statement shows $121.3 million in net proceeds from a registered direct offering this year.
MOBIUS and the Korea joint venture
Solid Power sells its electrolyte to cell makers and licenses its cell designs and manufacturing processes, rather than planning to be a battery manufacturer itself. It currently makes electrolyte on two pilot lines.
MOBIUS will add 45 metric tons of annual capacity, lifting the total to 75 metric tons, with full commissioning expected by year-end 2026. The company supplied material to Samsung SDI and SK On in the quarter and is in talks with battery material makers about a potential joint venture for commercial-scale production in the Republic of Korea.
CEO John Van Scoter said EVs "will continue to be our north star," while the company pursues drone, defense and humanoid robotics uses.
Management hosts a conference call at 4:30 p.m. ET Tuesday to discuss the results.
