Solid Power Lowers Expectation For 2024 Revenue From $20M - $25M To $16M - $20M, Est $22.598M
Portfolio Pulse from Benzinga Newsdesk
Solid Power has revised its 2024 revenue expectations from $20M-$25M to $16M-$20M, primarily due to slower revenue recognition from SK On agreements and delays in electrolyte sales. The company still expects 2024 cash used in operations to be $60M-$70M and capital expenditures to be $40M-$50M.
August 06, 2024 | 9:42 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Solid Power has lowered its 2024 revenue expectations from $20M-$25M to $16M-$20M due to slower revenue recognition from SK On agreements and delays in electrolyte sales. Cash used in operations and capital expenditures remain unchanged.
The downward revision in revenue expectations is likely to negatively impact investor sentiment and short-term stock price. However, the unchanged cash used in operations and capital expenditures may provide some stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100