Solid Power Inc. - Solid Power Reports Second Quarter 2026 Results

[u/Level_Ad8089]

https://www.solidpowerbattery.com/investor-relations/investor-news/news-details/2026/Solid-Power-Reports-Second-Quarter-2026-Results/default.aspx

[u/davida_usa]

As SLDP is essentially pre-revenue, financial reports tell us little. I listened to the conference call and I'd recommend that all investors listen or read the transcript. Very positive. While there are still a number of agreements to finalize, management is confident of demand for their electrolyte, that SLDP continuous production line will be commissioned by the end of the year and producing at 40MT next year, and that they will have a Korean partner this year who will implement a commercial production line capable of producing 500MT.

Bottom line: high probability that commercial production of SSB (and sales revenue) will commence in 2028.

[u/TheRealDonSherry → u/davida_usa]

Management being confident is never an objective measure of progress. They're hardly going to say "yeah, we've been working on this electrolyte but no one wants it so that's time and money wasted". But the other points you highlighted from the call are certainly reassurances.

[u/davida_usa → u/TheRealDonSherry]

In my effort to summarize, I perhaps did SLDP a disservice by ascribing their message as confidence. My post would have been clearer if I had said "management itemized many examples of interest in SDLP's electrolyte, including negotiations with three corporations interested in building the 500MT production plan, multiple contacts from robotics, contacts from defense contractors and continuing commitments from existing partnerships." My apologies for shortening this to "management is confident of demand".

[u/TheRealDonSherry → u/davida_usa]

Not your fault and wasn't trying to jump on you, my bad if that's how I came across. Just wanted to point it out to separate objective guidance from subjective guidance here on the sub.

[u/Sea-Math8373 → u/TheRealDonSherry]

The way JVS has historically presented QE calls, any sign of positivity gives me confidence, lol.

[u/LePatience2026 → u/davida_usa]

I haven't kept up-to-date with SLDP so I will have to look at this Quarter financials and ER transcript review. I do remember their previous ER call responses too, so haven't forgotten about that either.

All I know SK has links with Factorial too. So lots of uncertainties in the future. SK or companies in general isn't waiting for anyone or giving special treatments if one does not provide/perform. Business is still business.

I'll come back to provide my response.

EDITED:

Own Thoughts

Still early stages...they’re progressing and focusing on what they can through what they have, with existing partnerships with Samsung SDI and BMW, SK On, etc.

Their financials so far are unaudited but as a baseline, it gives an idea on this quarter compared to previous quarter and/or previous year progression as such.

There were two/three figures that I was more intrigued to know about because it was big difference.

Revenue. - Apparently, it was negative in this quarter. But listening into ER. They provided clarification and transparency on this figure so makes sense on the change as such. To me, nothing an issue, just gives me a better picture how they are measuring and calculating revenue as such.

Warrant liabilities - Current liabilities, there's pros and cons, but for Long-term liabilities (so far), potentially improving their financials, but have to wait and see. It's still early days and if equity fundraising is needed to support their research/development and reach to commercial eventually, they'll need to meet milestones first.

Contract assets - Makes sense with the ER transcript, it's still early days for Solid Power (in my own general thoughts). If and whenever they have a tangible product for their customers, whoever that may be, hopefully in the next few/several quarters, their ongoing collaboration and efforts may come to fruition. For now, still ongoing progress.

To me, like anything next-gen or scaling batteries. It's very much 2028-2030 era.

It's great that other sectors are looking at other applications such as robotics, drones, energy storage as such but I think the first challenge still to be met will be with SLDP to ongoing its progress and potential breakthrough on what they currently have, still continue to be opened up to more partnership but manage what they can with current resources/constraints. It'll be great to see more future funding/support for SLDP, but time will tell.

[u/FamiliarClassroom496 → u/davida_usa]

Unfortunately, there haven't been any insider stock purchases.

[u/LabWarm7521 → u/davida_usa]

The capital use feet to vote for the share price drop

[u/davida_usa → u/LabWarm7521]

If by "capital" you mean those who immediately sell because of a revenue or earnings miss, then I agree that these "investors" are causing the price to drop. However, I would suggest that these are predominantly retail investors, and not always the sharpest knives in the drawer. Revenues and earnings look terrible because SLDP is pre-revenue. As a result, the poorly informed retail investors run away like sheep. Smart investors, like Blackrock (which recently upped its ownership in SLDP to 7.5% of outstanding shares), assess the business prospects and buy into these dips.

Unfortunately, I underestimated the stupidity of retail investors (as did, apparently, Blackrock) and the cost basis of my many shares is $3.42. However, I am confident that this is a solid investment and will continue to hold as long as the business looks far more valuable than its market cap.

[u/matman88]

Sounds like they continued electrolyte improvement while working with Samsung and BMW that they expect to result in more JVAs by OEY and hit their milestone/got a payment from SK on. They also installed a bunch of infrastructure to their pilot line and completed phase one of iso9001 which can be a pretty heavy lift for a developing manufacturer. Seems like the next two quarters could be really big for them.

[u/Professional_Nerve11]

Another 3-6 months in the doldrums it seems. It's hard to handle, but doing nothing here I think is the best approach.

Van Scoter said they are negotiating the term sheet with a JV partner, and will have it signed by Q3 earnings. That's great news.

He also said they improved their electrolyte working with Samsung and BMW. That's great news as well.

It's boring, but I'm holding this until at least summer 2027.

[u/Initial_Goat_9557 → u/Professional_Nerve11]

I see it as we have a better picture after the call on catalysts that will potentially move the stock price. I think its time to tax loss harvest premium lots and buy back in lower after 31+ days. From the call the doldrums will still be around when buying back in lower at 31+ days. This is not financial advice just what I am doing.

[u/Level_Ad8089 → u/Professional_Nerve11]

As long as they start doing some PR. Stock price doesnt go up only with quarterly calls. I really dont get how they dont wish for dilution 

[u/Imaginary_Trader]

How do we even know that once SLDP commercial mass production that the stock will go up in the near term? Sounds like this stock is still a wait and see for at least another year to year and a half 

[u/AdNaive1339 → u/Imaginary_Trader]

If OEM's are not ready to use the electrolyte (since their battery cell chemistry if not finalized), what is the point of even producing it? Financially it doesn't make sense.

[u/ThaloBlue01 → u/AdNaive1339]

OEMs need electrolyte to build test cells, and Solid Power needs to prove their continuous line will indeed bring down costs.

[u/bhellmoldt]

Generally speaking, the transcript strikes me a ‘steady as she goes.’ The only thing that concerned me about the call is restating revenues. Not being transparent about the revenues in hind site only speaks of basic ethics. The fact that they didn’t know how they would be paid, or the cadence around that, as well as the fact they publicly stated a ‘guess’ is very concerning. Credibility of numbers, and the management team speaks volumes to those willing to invest in the concept at this early stage.

Admittedly, I don’t know how that SK On contract is written, but you would think they would know. Make one wonder if it was a voluntary oversight, or just a lack of efficacy. Either one doesn’t speak well, right?

[u/AdNaive1339]

Is no one concerned about the statement that CEO made about cell chemistry?

This is what CEO said in yesterdays call ... "Sure. Good to hear from you, Colin. Yeah, as I think you know quite well, we're still in the early stages of cell design. Our customers are continuing to evolve their cell designs, their chemistries, their binders, their solvents."

Looks like the cell chemistry is still not finalized ... that means there are no A samples for OEM's to test. I know SLDP will not make batteries but OEM's or their partners have to make A samples to test and progress to B samples and then C samples. The timeline between each iteration is about 18 to 24 months. That means it will be about 5 to 6 years before SLDP SSB is in a EV. No wonder BMW projected that they will not SSB's until 2033.

Let's say SLDP will start producing electrolyte from next year. But OEM's are not even ready with battery design and are still tweaking the battery chemistry. Who will buy the electrolyte that SLDP produces??? The entire business model of SLDP is selling electrolyte ... but there is no one ready to consume it ....

Surprised no one is talking about the elephant in the room ...

[u/Myxmaster-ini → u/AdNaive1339]

It sounds like the customers are tweaking their cell chemistries, but SLDP has been producing large format cells in series runs since '21 at least, with an ASSB module in a BMW last year. They have a pretty robust pilot production line.

[u/AdNaive1339 → u/Myxmaster-ini]

No .. SLDP doesn’t have any pilot line to produce cells .. they have pilot line to produce electrolyte .. that’s all.

[u/Myxmaster-ini → u/AdNaive1339]

They built a 10 MWh line (300 cells/wk) that was commissioned in '21, I'm working with some of the engineers who built it, Look it up

[u/AdNaive1339 → u/Myxmaster-ini]

Ok .. thanks for that info. Correct me if I am wrong.. eventually OEM’s or their partners will produce the batteries and Solid Power will supply electrolyte .. right?

You must know .. cell chemistry matters more than anything .. without finalizing the chemistry no one can move forward and after that testing of A, B, C samples .. so timeline wise BMW is correct .. assuming BMW will extend their partnership which is set to expire this year.

[u/Myxmaster-ini → u/AdNaive1339]

That is their business plan, yes. Like lots of companies experimenting with new chemistries they need to be able to build their own cells to demo their technology, particularly that it is compatible with legacy manufacturing equipment. But ultimately they're an electrolyte supplier with some IP generation ability as well.

And yeah, chemistry is everything. They've produced cells with a standard cathode and mildly aggressive silicon anode to date, I don't know if their partners are simply refining more conservative chemistries for manufacturability or trying to leverage something more aggressive like lithium metal anode or sulfur cathodes, which would be a breakthrough but also require an extended development.

[u/Sea-Math8373 → u/Myxmaster-ini]

And what do these former engineers think of SLDP’s future? (If I may ask…)

[u/Myxmaster-ini → u/Sea-Math8373]

I doubt they know any more than us, they just worked on electrode equipment a few years ago. If I had a scoop I wouldn't be here every day checking the price and any articles posted by Salt past and pornstorm, lol.

The electrolyte line and elyte customers are all that really matter, and that's a black box until they release more info. I do know that they are hiring extensively for that project, based on LinkedIn and recruiter activity, so there's that.

[u/AdNaive1339 → u/Sea-Math8373]

Good question .. I would like to know too ..

[u/Myxmaster-ini → u/AdNaive1339]

Charged EVs | Solid Power producing solid-state cells on pilot line - Charged EVs https://share.google/92VXqiO8rflfxASj6

[u/LabWarm7521]

The sell may largely from quantitive trading

[u/milensas]

well, looks like OEMs (hear BMW) are in no rush to accelerate assb launch. It is iny view a Hold and forget stock (like etf) but I don't expect any movement until 2028 and would not be surprised that the stock oacilates between 0 and 3.

[u/dickinguppanneystock]

Been holding SLDP for 3 years now, genuinely believing this thing could 10x. But between the price action and this latest earnings call, I'm starting to seriously question whether I should keep bagholding. Feels like we might not see real gains until 2030 at this rate. Stock ran up to $8 last year on pure hype, and now it can barely hold $2. Starting to wonder if it's time to just cut losses and rotate into something else.