Solidion Technology Inc. (NASDAQ: STI) reported its first quarterly revenue of $85,426 for the three months ended March 31, 2026, according to the company's first-quarter financial results. The Dallas-based battery technology provider generated revenue from government grants and delivery of its proprietary silicon anode products.

The company posted a net loss of $1.4 million, or $0.18 per share, compared to net income of $9.2 million in the same period last year. The quarter included a non-cash gain of $561,350 related to changes in fair value of derivative liabilities, significantly lower than the $12.4 million gain recorded in the prior year period.

Operating expenses decreased to $1.9 million from $3.1 million in the first quarter of 2025, primarily due to reduced general and administrative costs and lower research and development expenses. The company reported a loss from continuing operations of $1.8 million.

Solidion announced several recent developments, including the demonstration of a 9.5Ah pouch cell for drone applications and the unveiling of its PEAK Series battery system for AI data centers. The company expects to make the pouch cell commercially available in the second quarter of 2026.

The company has received multiple government grants, including awards from ARPA-E and the U.S. Department of Energy for research projects involving graphite production, molten salt nuclear reactor materials, and fiber-based battery systems.

Solidion completed a restructuring of its August 2024 equity financing, eliminating Series C and D Pre-Funded Warrants and the corresponding derivative liability. Long-term investors Madison Bond LLC and Bayside Project LLC converted their warrant positions into common stock with a 12-month holding commitment.

The company, along with Oak Ridge National Laboratory, received a 2025 R&D 100 Award for their E-GRIMS technology, which enables more efficient production of graphite anode materials for lithium-ion batteries.