SES AI Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw over 40% year-over-year revenue growth and improved gross margin, with broad-based contributions from ESS, drone, materials, and AI-driven Molecular Universe segments. The company reaffirmed its 2026 revenue guidance and expects margin and revenue gains in the second half as drone and materials sales ramp up.
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Q1 2026 revenue rose 47% sequentially to $6.7M, with gross margin and net loss improving. ESS led growth, supported by a $20M North American deal, while drone and materials segments advanced. Full-year guidance of $30–$35M revenue and 15% expense reduction reaffirmed.
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The company has pivoted to focus on ESS, drones, and materials, leveraging its Molecular Universe AI platform for rapid material discovery and battery management. With strong revenue growth expected, the business is targeting high-value markets and integrating hardware and software for competitive advantage.
Fiscal Year 2025
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Revenue grew nearly tenfold to $21M in 2025, driven by ESS, drones, and materials, with strong cost discipline and a $200M liquidity position. 2026 guidance targets $30–$35M revenue, led by ESS, while drone and materials ramp in H2. One-time OEM service revenue will not recur.
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Q3 2025 revenue more than doubled sequentially to $7.1 million, driven by AI strategy, UZ Energy acquisition, and Molecular Universe SaaS growth. Gross margin reached 51%, and liquidity remains strong. ESS, drones, and JV material supply are expected to drive significant growth in 2026.
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Q2 2025 saw $3.5M revenue and 74% gross margin, with strong liquidity and reduced cash burn. Acquisition of UZ Energy expands into ESS, while Molecular Universe trials grow and next release is expected in fall. Guidance for 2025 revenue remains $15–$25M.
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SES AI's Molecular Universe platform is centralizing and accelerating battery innovation, enabling faster R&D, diversified revenue, and improved margins. The new Deep Space feature offers actionable solutions, attracting strong enterprise interest and supporting rapid business growth.
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Q1 2025 revenue reached $5.8M with a 79% gross margin, driven by AI-enhanced battery contracts. The new Molecular Universe platform is set for global launch, expanding the customer base and supporting a shift to a high-margin, asset-light model.
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The discussion highlighted advances in AI-driven battery material discovery, scalable manufacturing, and a shift toward subscription-based business models. Expansion into lithium-ion and energy storage markets, especially in the U.S. and defense sectors, is accelerating revenue growth.
Fiscal Year 2024
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Achieved first revenue in Q4 2024 with a 63% gross margin, driven by AI-enhanced battery contracts and new market expansion. 2025 revenue is projected at $15–$25 million, with a focus on BESS, EV, drones, and robotics, supported by a strong liquidity position.
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Early commercial revenue achieved in UAM and drones, with industry-first safety certification for lithium-metal EV cells. AI-accelerated solutions are set to generate revenue in Q4 2024, while prudent cash management extends liquidity into 2028.
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AI is being integrated across science, manufacturing, and safety to accelerate next-gen battery adoption, leveraging unique data and expertise. Commercialization will focus on licensing, recurring revenue models, and expanding applications with current OEM partners, with broader adoption expected soon.
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Integrated AI across manufacturing, safety, and science to accelerate battery commercialization, with major progress in EV, UAM, and drone segments. Reduced 2024 cash usage guidance and maintained strong liquidity, supporting multi-year growth.
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The summit highlighted advances in lithium metal battery technology, AI-driven safety and manufacturing, and strategic partnerships with major automakers. B-sample lines are being deployed, with early UAM market entry and AI licensing seen as near-term revenue drivers.
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Advancements in lithium metal battery technology are accelerating, with deep OEM collaborations and AI-driven manufacturing and safety tools. B-sample lines are being deployed, and commercialization is targeted for UAM in early 2025 and EV in late 2025.