Solidion Technology reported a return to quarterly profitability, with net income of about $244,000 and earnings of 2 cents a share for the three months ended Sept. 30, 2026, compared with a $4.1 million loss a year earlier. The battery technology company also reported stronger working capital and lower liabilities than at year-end 2025, while maintaining $26.2 million in cash.
The quarter’s update also included recent governance and capital-allocation moves: Solidion added three independent directors and authorized up to $1 million in share repurchases.
Key details
- Cash and liquidity: Cash and cash equivalents totaled $26.2 million at Sept. 30, down from $27.7 million at June 30.
- Working capital: The company reported working capital of $19.6 million, compared with a deficit of $11.2 million at Dec. 31, 2025.
- Liabilities and equity: Total liabilities fell about 40%, to $7.5 million from $12.0 million at year-end 2025. Stockholders’ equity was $23.8 million, versus a deficit of $7.2 million at that date.
- Quarterly results: Revenue was $41,638, up from $9,350 in the year-earlier quarter. Cost of revenue was $120,000, compared with $4,321. Selling, general and administrative expenses and research and development expenses totaled about $2.24 million, up from about $1.75 million.
- Other income and earnings: Total other income was about $2.56 million, compared with total other expense of about $2.35 million a year earlier. Net income was approximately $244,000, or 2 cents a share, versus a net loss of $4.1 million, or $1.33 a share.
- Board changes: On Aug. 31, Solidion appointed three independent directors: Mark Schwartz, Kimi L. Ellen and Dante W. Robinson.
- Share repurchases: On Sept. 13, the board authorized repurchases of up to $1 million of common stock. The authorization sets a maximum amount; it does not establish how much stock, if any, the company has bought.
- Use of capital: Solidion said its capital position supports continued investment in its technology portfolio and evaluation of potential strategic acquisitions.
What changes for investors
The reported figures show a substantially improved balance-sheet position compared with year-end 2025, alongside a small quarterly profit. The quarter’s reported other income was larger than net income, while revenue remained modest and below cost of revenue. The board expansion adds three independent directors, and the repurchase authorization gives the company permission to use up to $1 million for stock buybacks.