Solid Power raises $121M, extends runway to 2026 despite 49% revenue drop in Q1

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~1 min read

Key Changes

• high

  Q1 2026 revenue fell 49% YoY to $3.1M due to milestone timing under SK On agreements; company expects further declines as work shifts to validation and electrolyte sampling activities.

  MD&A: Revenue verify on EDGAR →
• high

  Raised $121.3M net in January 2026 registered direct offering, boosting liquidity 45% YoY to $435.3M and extending cash runway through technology development milestones.

  MD&A: Registered Direct Offering verify on EDGAR →
• high

  Net loss improved 14% to $13.0M in Q1 2026 from $15.2M in Q1 2025, driven by $9.6M gain on warrant liability revaluation and lower operating expenses offsetting revenue decline.

  MD&A: Net Loss verify on EDGAR →