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    SLDP
    Earnings call· Jun 2026(Q2 FY26)

    Solid Power Q2 FY26 earnings call SLDP

    Aug 4, 2026 Source

    Executive summary

    Solid Power Q2 FY26 — Advancing Commercialization Milestones

    Solid Power continued to advance its commercialization roadmap in Q2 FY26, making significant progress on manufacturing scale-up and strategic partnerships, including a prospective South Korean joint venture. Despite a non-cash revenue reversal impacting the quarter's top line, the company maintains a robust balance sheet with substantial liquidity to fund its long-term growth initiatives and technology development.

    Highlights

    4

    • Advanced discussions for a commercial-scale electrolyte production joint venture in South Korea, on track for announcement by year-end.

    • Continuous manufacturing pilot line installation remains on schedule, with equipment acceptance testing in Q3 FY26 and operational start-up in Q4 FY26.

    • Successfully completed Stage 1 of ISO 9001 certification process and remains on track for full certification by year-end.

    • Completed Line Installation Agreement with SK ON and received the associated milestone payment.

    Concerns

    3

    • Reported negative revenue of -$300,000 in Q2 FY26, impacted by a $1.2 million reversal of Q1 revenue.

    • Operating loss for the quarter was $30.3 million.

    • Net loss was $23.8 million, or $0.11 per share.

    Guidance & targets

    5
    CategoryTargetConfidence
    Joint Venture Announcement
    Announce a joint venture
    high materiality
    High
    Continuous Manufacturing Pilot Line Equipment Acceptance Testing
    Completion of equipment acceptance testing
    medium materiality
    High
    Continuous Manufacturing Pilot Line Operational Start-up
    Plant validation and operational start-up
    high materiality
    High
    ISO 9001 Certification
    Certification expected by year-end
    medium materiality
    High
    Continuous Manufacturing Pilot Line Output
    Output from that line
    high materiality
    High

    Operational metrics

    9
    Revenue reversal
    $1.2 millionfrom Q1
    Q2 FY26

    Impacted Q2 FY26 revenue.

    Operating expenses
    $30 millioncompared to $29.4 million in Q1 2026
    Q2 FY26

    Remained well controlled and generally consistent quarter over quarter.

    Capital expenditures
    $6.3 million
    Q2 FY26

    Strategic investment for manufacturing roadmap.

    Total liquidity
    $419.3 million
    Q2 FY26

    Provides substantial financial flexibility and runway.

    Contract assets and accounts receivable
    $3.2 million
    Q2 FY26

    Balance sheet item.

    Total current liabilities
    $17.2 million
    Q2 FY26

    Balance sheet item.

    Debt
    no debt
    Q2 FY26

    Reflecting a healthy balance sheet.

    Continuous manufacturing pilot line capacity
    45 metric tons
    once fully commissioned

    Expected output from the line starting Q1 FY27.

    New customer interest
    —uptick
    past quarter

    Expressing interest in all solid-state batteries due to energy density, safety, and charge rate advantages.

    Industry KPIs

    5
    MetricValueDetails
    EPS-$0.11per share
    Revenue$2.8 million YTD, -$300,000 Q2USD
    Net income-$23.8 millionUSD
    Operating income EBIT-$30.3 millionUSD
    Cash investments balance$419.3 millionUSD

    Deals & partnerships

    4
    Samsung SDI and BMWJoint Evaluation Agreement (Phase 1)expires end of September

    Working to improve electrolyte performance and providing electrolyte shipments to support development activities. Discussions for continued collaboration are ongoing.

    SK ONLine Installation Agreement

    Represents a successful milestone in collaboration and execution of key customer commitments.

    SK ONNew collaboration agreement

    Underscores growing demand for Solid Power's technology and commitment to expanding strategic partnerships.

    Unnamed industry-leading companyCommercial-scale electrolyte production

    Advanced discussions with three parties in South Korea, with a draft term sheet under discussion with one.

    Risks & headwinds

    1
    Revenue reversal from prior quarterQ2 FY26 impact

    $1.2 million reversal of Q1 revenue

    Mitigation: Non-cash adjustment, no associated cash outflow or obligation.

    What to watch in Q3 FY26

    5

    Electrolyte production JV announcement

    By year-end (Q4 FY26)
    CurrentDraft term sheet in discussion with one party
    TargetJV announced

    Why it matters

    This joint venture is crucial for accelerating market adoption, providing manufacturing scale, and securing market access for commercial-scale electrolyte production.

    Based on the progress we've made to date, we remain on track and expect to announce a joint venture by the end of the year.

    Q&A highlights

    8

    Inquired about equipment delivery status for the continuous line and the expected ramp-up to capacity in coming quarters.

    Management confirmed all major equipment, including the rotary kiln, is in-house and being hooked up. Commissioning will start in Q4 FY26 and be completed by year-end. The line has a capacity of 45 metric tons, with output expected in Q1 FY27.

    “We do not have any major equipment outstanding. The last major piece was installed. It's the rotary kiln. That was done in the May timeframe. So, So all equipment is in-house and in the process of being commissioned or hooked up, I should say. And then commissioning, as we have indicated, will start in the fourth quarter to be completed by the end of the year. The capacity for that one line is 45 metric tons once it is fully commissioned, and we expect to output from that line in the first quarter of next year.”

    asked by Jacob Sekelsky · answered by John Van Scoter

    2 min read6 chapters

    Detailed Narrative

    01

    Electrolyte Development and Strategic Partnerships

    Solid Power continued to advance its electrolyte technology, improving performance under the Joint Evaluation Agreement with Samsung SDI and BMW. The company provided electrolyte shipments to support their development activities and is optimistic about continued collaboration. Discussions are ongoing regarding the next phase of these agreements, with Phase 1 set to expire at the end of September.

    02

    Commercial-Scale Electrolyte Production Joint Venture

    The company is actively pursuing a joint venture for commercial-scale electrolyte production in South Korea, engaging with three potential partners. Progress has been significant, with a draft term sheet currently under discussion with one party. Solid Power remains confident in announcing a joint venture by the end of the year, aiming to accelerate market adoption and secure manufacturing scale.

    03

    Continuous Manufacturing Pilot Line Progress

    Installation of major process equipment for the continuous manufacturing pilot line, including the rotary kiln, was completed in May. The company is preparing for equipment acceptance testing, which is on track for completion in Q3 FY26, followed by plant validation and operational start-up in Q4 FY26. This line is designed to demonstrate scalability and efficiency, with an expected capacity of 45 metric tons and output starting in Q1 FY27.

    04

    Operational Excellence and ISO 9001 Certification

    Solid Power successfully completed Stage 1 of its ISO 9001 certification process, with no major findings. The company is preparing for the more intense Stage 2 audit in mid-August and expects to achieve full certification by year-end. This certification will enhance quality systems, strengthen customer confidence, and support the commercial readiness of its electrolyte business.

    05

    SK ON Collaboration and New Customer Interest

    The Line Installation Agreement with SK ON was successfully completed, and the associated milestone payment received. Solid Power is now negotiating a new collaboration agreement with SK ON, reflecting continued demand for its technology. Additionally, the company noted an uptick in interest from humanoid robotic companies and some defense/aerospace markets in the US for all-solid-state batteries.

    06

    Financial Performance and Liquidity

    Q2 FY26 revenue was negative $300,000, impacted by a $1.2 million reversal of Q1 revenue related to a change in assumptions for SK ON milestone payments. Operating expenses remained controlled at $30 million, leading to an operating loss of $30.3 million and a net loss of $23.8 million, or $0.11 per share. The company maintains a strong financial position with $419.3 million in total liquidity and no debt.

    AI-generated summary of the company’s earnings call. Not investment advice.