10-K · April 15, 2026
Solidion positions itself as an advanced battery-technology developer with a broad IP portfolio (>345 active patents) and prototypes showing technical promise (305 Wh/kg cylindrical cell; 100 mAh pouch cells with…
Earnings analysis · 10-Q
STI earnings analysis
Filed May 20, 2026 · Our reading of the company's report
The latest report
Solidion Technology reported minimal revenue of $85,426 for the quarter ending March 31, 2026, a stark contrast to no revenue reported in the same quarter last year. Despite this revenue growth, the company continued to…
Read full summary
Solidion Technology reported minimal revenue of $85,426 for the quarter ending March 31, 2026, a stark contrast to no revenue reported in the same quarter last year. Despite this revenue growth, the company continued to face significant challenges, with a net loss of $1,430,668 and an EPS of -10.99. Operating expenses decreased, yet the lack of substantial sales and material weaknesses in internal controls raise concerns about the company's future viability.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-10.99
What stood out
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Revenue Growth Compared to Prior Year
The company reported revenue of $85,426 in Q1 2026, compared to $0 in Q1 2025.
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Reduced Operating Expenses
Operating expenses decreased by $1,274,646 to $1,858,023 for the three months ended March 31, 2026.
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Grants Received from U.S. Government
Solidion received three grants from U.S. government agencies, aiding its R&D efforts and potentially enhancing its financial position.
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Cash Burn Reduced in Operating Activities
Cash used in operating activities was reduced to $141,863 in Q1 2026 from $2,342,278 in the prior year.
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Strategic Partnerships for Battery Component Development
Solidion entered a non-binding MOU potentially adding $4-6 million in revenue over the next year.
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High-energy Prototype Cell Development
Successfully developed a cylindrical cell achieving 305 Wh/kg energy density, significantly higher than competitors.
What to watch
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Continued Losses and Going Concern
Accumulated deficit of $164,803,207 raises substantial doubt about the company's ability to continue operations.
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Material Weaknesses in Internal Control
Management identified material weaknesses in the internal controls that could lead to financial misstatements.
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Volatility and Uncertainty in Future Revenues
Revenue generation remains highly uncertain; significant revenue is not expected until commercialization is completed.
Management's outlook
No explicit numeric guidance provided; management discusses plans for scaling manufacturing but lacks specific forecasts.
Earlier filings 4
10-Q · November 20, 2025
Solidion reported Q3 2025 net sales of $9,350 (up from $4,000 in Q2 2025 and $0 in Q3 2024) and a GAAP loss per share of $(1.33). Gross profit was $5,029 (gross margin 53.8%), but the company recorded an operating loss…
10-Q · May 21, 2025
Solidion reported net income of $9,194,630 for the quarter ended March 31, 2025, driven by a $12,417,450 non-cash gain on the change in fair value of derivative liabilities. The company generated no revenue (Net sales…
10-Q · November 19, 2024
Solidion reported no revenue for Q3 2024 (net sales $0) and a Q3 net loss of $6,636,679 (EPS $(0.07)), driven by $4.19M of operating expenses and large non-cash derivative and equity issuance items. Balance sheet…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.