SES AI Corporation
ses.aiWhat Do They Do?
Provides battery-material design and development services to automakers and other manufacturers, and sells energy-storage systems, rechargeable battery cells and materials, and battery research software to manufacturers and battery professionals.
10-K for FY2025, filed Mar 4, 2026Service revenue generally consists of services for the discovery, design and development of Li-ion and Li-Metal battery materials in…View ↗
The Company sells ESS products to its global customer base that were contract manufactured and enhanced through the installation of the…View ↗
The Company provides services for the design and development of Li-ion and Li-Metal battery materials in accordance with the customer’s…View ↗
We also provide access to our Molecular Universe AI4Science platform, either through access to a cloud version of Molecular Universe, or…View ↗
How Do They Make Money?
Customers pay upfront and at contract milestones for battery-material design and development services as the work progresses; product buyers pay for energy-storage systems, cells and materials when delivered.
10-K for FY2025, filed Mar 4, 2026The Company sells ESS products to its global customer base that were contract manufactured and enhanced through the installation of the…View ↗
The Company provides services for the design and development of Li-ion and Li-Metal battery materials in accordance with the customer’s…View ↗
Consideration for service revenue contracts generally include up-front payments as well as further payments that become payable when the…View ↗
Deferred revenue represents situations where the cash is collected, but the related revenue has not yet been recognized. Revenue is…View ↗
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10-K for FY2025, filed Mar 4, 2026
FY2025 revenue by product or service ↗
$21M
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10-K for FY2025, filed Mar 4, 2026
$21M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service
Recurring
10-K for FY2025, filed Mar 4, 2026 |
65% |
Service, FY2025
$13.6M Sources
|
Recurring |
|
Product
Sold outright
10-K for FY2025, filed Mar 4, 2026 |
35% |
Product, FY2025
$7.4M Sources
|
Sold outright |
Who Are Their Customers?
Automotive and drone manufacturers and other companies buy battery-material design and development services; product buyers include global customers for energy-storage systems, cells and materials. Battery professionals access the research platform through cloud or on-premises deployment.
10-K for FY2025, filed Mar 4, 2026The Company sells ESS products to its global customer base that were contract manufactured and enhanced through the installation of the…View ↗
The Company provides services for the design and development of Li-ion and Li-Metal battery materials in accordance with the customer’s…View ↗
We also provide access to our Molecular Universe AI4Science platform, either through access to a cloud version of Molecular Universe, or…View ↗
10-K for FY2025, filed Mar 4, 2026
Revenue outside of the United States, based on customer billing address, was 99% and 100% of total revenue for the years ending December 31…View ↗
Do Revenues Turn Into Profits?
No. It lost $73M in FY2025.
10-K for FY2025, filed Mar 4, 2026
−$82.6MView ↗
10-K for FY2025, filed Mar 4, 2026
−$73MView ↗
10-K for FY2025, filed Mar 4, 2026
−$61.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
−$17.9MView ↗
- ▼ −21% (Loss)
- vs −$22.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 11, 2026
Open tableView ↗
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Aug 14, 2026
NYSE suspended warrant trading and began delisting proceedings
The action followed abnormally low warrant prices; SES's common stock remained listed, subject to continued compliance.
Sources
8-K, filed Aug 14, 2026
On August 13, 2026, SES AI Corporation (the “Company”) received notice from the New York Stock Exchange (the “NYSE”) that the NYSE has…View ↗
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Aug 11, 2026
SES reaffirmed 2026 revenue guidance of $30 million to $35 million
Sources
8-K, filed Aug 11, 2026
For full-year 2026, we are reaffirming our revenue guidance of $30 million to $35 million. We are focused on building on the revenue we are…View ↗
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Jul 20, 2026
NYSE cited stock-price noncompliance with its listing standard
The stock remained listed during a six-month period to regain compliance.
Sources
8-K, filed Jul 20, 2026
On July 17, 2026, SES AI Corporation (the “Company”) was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance…View ↗
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Apr 23, 2026
SES appointed a new CFO after the prior CFO stepped down
Sources
8-K, filed Apr 23, 2026
On April 23, 2026, the Company announced the appointment of Yi (Ray) Liu as Chief Financial Officer, effective April 27, 2026. Mr. Liu, 50…View ↗
Broader product range
The older report centered on lithium-metal battery technology for electric vehicles and air mobility; the latest describes lithium-metal and lithium-ion cells, energy-storage systems, battery materials, and a battery research software platform for uses including drones and robotics.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 4, 2026SES AI Corporation (“we,” “us,” “SES” or the “Company”) is a global leader in the development and production of high-performance…View ↗
We are a leading developer and manufacturer of high-performance, AI-enhanced Lithium-Metal (“Li-Metal”) and Lithium-ion (“Li-ion”)…View ↗
Through our AI-based platform, Molecular Universe, we believe we have access to multi-pronged business opportunities in fast growing…View ↗
We also provide access to our Molecular Universe AI4Science platform, either through access to a cloud version of Molecular Universe, or…View ↗
Who Do They Compete With?
Competes with FREYR Battery, Microvast Holdings, Electrovaya, Stem, Fluence Energy, Enovix, Solid Power, Sion Power, Natrion, Amprius, QuantumScape, Cuberg, C3.ai, Intecells, Zeta Energy, and Innoviz Technologies
10-K for FY2025, filed Mar 4, 2026Our prospective competitors include major manufacturers supplying the battery market, automotive and drone OEMs and potential new entrants…View ↗
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