Solid Power, Inc. Segments Disclosure
Note 15 - Segment Disclosure
The Company receives both government and collaborative revenue and earns revenue from U.S. and the Republic of Korea. The Company determined geographic area based on the country to which its legal entity is incorporated. The Company earned revenue from certain customers that each accounted for more than 10% of the Company’s total gross revenue for the years ended December 31, 2025, and 2024. The table below sets forth revenue by type, customer, and geographic area for the years ended December 31, 2025, and 2024.
For the Years Ended December 31, | |||||||
Type of Revenue | Customer | Geographic Area | 2025 | | 2024 | ||
Government | Customer A | U.S. | $ | 2,174 | $ | 2,472 | |
Government | Customer B | U.S. | — | 246 | |||
Government | Customer C | U.S. | 3,834 | — | |||
Government | Other | U.S. | (50) | 14 | |||
Total government | 5,958 | 2,732 | |||||
Collaborative | Customer D | U.S. | $ | 9,062 | $ | 3,020 | |
Collaborative | Customer D | Republic of Korea | 6,053 | 8,760 | |||
Collaborative | Customer E | U.S. | 189 | 5,410 | |||
Collaborative | Other | U.S. | 485 | 217 | |||
Total collaborative | 15,789 | 17,407 | |||||
Total revenue and grant income | $ | 21,747 | $ | 20,139 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.