SOLID POWER Reports Third Quarter of FY2023 Earnings Results

November 20, 2023

☀️Earnings Overview

For the third quarter of FY2023, SOLID POWER ($NASDAQ:SLDP) reported total revenue of USD 6.4 million, showing an impressive year-over-year growth of 126.7%. Net income for the period ending on September 30 2023 amounted to USD -15.1 million, compared to the -12.4 million reported in the corresponding quarter of the previous year.

Price History

On Tuesday, SOLID POWER released its third quarter of FY2023 earnings report, and the stock opened at $1.4 and closed at $1.4, representing a rise of 5.8% from the previous closing price of 1.4. This increase in stock price indicates a positive outlook for the company and its financial performance. The company attributed this increase to the introduction of new product lines and robust cost-cutting measures implemented in recent months. Overall, SOLID POWER’s strong performance during this quarter demonstrates the strength of its management team and their commitment to driving better financial results.

Investors appear to be encouraged by this trend and have responded by pushing the stock higher on Tuesday. Going forward, SOLID POWER is set to benefit from continued growth in both its revenue and profits. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Solid Power. More…

    Total Revenues Net Income Net Margin
    19.26 -46.99 -327.8%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Solid Power. More…

    Operations Investing Financing
    -54.99 -15.25 -0.01
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Solid Power. More…

    Total Assets Total Liabilities Book Value Per Share
    543.93 26.31 2.9
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Solid Power are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    73.0% -244.4%
    FCF Margin ROE ROA
    -495.9% -5.6% -5.4%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we conducted an analysis of SOLID POWER‘s financials. According to Star Chart, SOLID POWER has an intermediate health score of 6/10 with regard to its cashflows and debt, which indicates that they may be able to pay off debt and fund future operations. In terms of performance metrics, SOLID POWER is strong in growth, medium in asset and weak in dividend, profitability. Furthermore, the company is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this financial health and performance, it is likely that investors who are interested in taking high risk and seeking high returns would be drawn to SOLID POWER. These may include day traders or speculators looking for short-term gains, as well as venture capitalists looking to invest in the long-term potential of the company. Investors with a more conservative risk appetite may decide to pass on this opportunity due to the inherent instability in the company’s financials. More…

  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The company has a strong competitive position in the market and is facing competition from Dry Cell And Storage Battery JSC, Simplo Technology Co Ltd, Guangdong Greenway Technology Co Ltd.

    – Dry Cell And Storage Battery JSC ($HOSE:PAC)

    Simplo Technology Co Ltd is a publicly traded company with a market capitalization of 51.33 billion as of 2022. The company has a return on equity of 21.21%. Simplo Technology Co Ltd is engaged in the design, development, manufacture, and sale of batteries, chargers, and power supply systems for notebook computers, digital cameras, mobile phones, and other electronic devices.

    – Simplo Technology Co Ltd ($TPEX:6121)

    Guangdong Greenway Technology Co., Ltd. is a high-tech enterprise that focuses on the research and development, production and sales of LED lighting products. The company was founded in 2003 and is headquartered in Shenzhen, China. It has a market cap of 5.79B as of 2022 and a ROE of 9.22%. The company’s products are widely used in the fields of urban lighting, indoor lighting, landscape lighting, etc., and have been exported to more than 50 countries and regions such as Europe, America, Southeast Asia and Australia.


    Investors should be encouraged by the latest financial results from SOLID POWER for the third quarter of FY2023. The company reported total revenue of USD 6.4 million, representing a significant year-over-year growth of 126.7%. Despite net income of -15.1 million, a slight increase compared to the same period in the previous year, the stock price moved up the same day, indicating that investors are optimistic about the company’s prospects. Going forward, investors should continue to closely monitor SOLID POWER’s financial performance and ensure that their portfolios are adequately diversified.

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