SES AI Corp (SES) Financial Statements
Industry: Miscellaneous Electrical Machinery, Equipment & Supplies
In fiscal 2025, SES AI reported revenue of $21.0M, up 929.4% from $2.0M the year before. Net income was -$73.0M (a -347.8% net margin), or -$0.22 per diluted share. Gross margin was 53.8% and operating margin was -393.4%. Operating activities generated -$58.4M of cash, leaving -$61.2M of free cash flow. At fiscal year end, SES AI held $272.6M in total assets against $57.9M in total liabilities, including $29.5M of cash and equivalents.
Open the full interactive SES AI financials → Quarterly statements, key ratios, valuation history and price charts.
SES AI Key Stats
| Share Price | $1.00 |
|---|---|
| Market Cap | $336.3M |
| Revenue YoY Growth | +929.4% |
| 52-Week Range | $0.50 – $3.54 |
| Shares Outstanding | 336.3 million (basic, 2026 Q2) |
SES AI Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $2.0M | $21.0M |
| Cost of Goods Sold | $7.4M | — | — | — | — |
| Gross Profit | -$7.4M | — | — | $1.3M | $11.3M |
| Operating Income | -$14.6M | -$79.6M | -$78.2M | -$109.2M | -$82.6M |
| Pre-Tax Income | -$11.5M | -$49.7M | -$54.3M | -$100.0M | -$72.8M |
| Income Tax | — | $1.3M | -$853,000 | $188,000 | $231,000 |
| Net Income | -$11.5M | -$51.0M | -$53.4M | -$100.2M | -$73.0M |
| Diluted EPS | -$0.43 | -$0.18 | -$0.17 | -$0.31 | -$0.22 |
SES AI Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $7.1M | $4.6M | $6.7M | $5.1M |
| Net Income | -$20.9M | -$17.0M | -$12.1M | -$17.9M |
| Diluted EPS | -$0.06 | -$0.05 | -$0.04 | -$0.05 |
SES AI Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash & Equivalents | $117,282 | $106.6M | $85.7M | $128.8M | $29.5M |
| Current Assets | $726,186 | $396.6M | $348.6M | $276.9M | $216.3M |
| Total Assets | $276.8M | $440.4M | $406.8M | $329.8M | $272.6M |
| Current Liabilities | $905,135 | $19.4M | $20.4M | $22.8M | $24.2M |
| Total Liabilities | $41.9M | $48.9M | $47.9M | $51.5M | $57.9M |
| Shareholders' Equity | -$41.1M | $391.5M | $358.9M | $278.3M | $214.8M |
SES AI Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash From Operations | -$2.3M | -$46.5M | -$56.4M | -$66.1M | -$58.4M |
| Cash From Investing | -$276.0M | -$296.0M | $32.7M | $108.2M | -$39.2M |
| Cash From Financing | $278.3M | $289.9M | $3.3M | $1.0M | -$2.0M |
| Free Cash Flow | — | -$61.2M | -$72.2M | -$78.3M | -$61.2M |
Figures from SES AI's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full SES AI financials page for every line item.
SES AI Company Profile
| Ticker | SES |
|---|---|
| Exchange | NYSE, OTC |
| Industry | Miscellaneous Electrical Machinery, Equipment & Supplies |
| Headquarters | Woburn, Massachusetts |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001819142 |
Frequently Asked Questions
What was SES AI's revenue in fiscal 2025?
SES AI (SES) reported revenue of $21.0M for fiscal 2025.
What is SES AI's annual revenue history?
SES AI's annual revenue by fiscal year: 2021: $0; 2022: $0; 2023: $0; 2024: $2.0M; 2025: $21.0M.
What was SES AI's net income in fiscal 2025?
SES AI reported net income of -$73.0M for fiscal 2025.
What was SES AI's earnings per share (EPS) in fiscal 2025?
SES AI's diluted EPS was -$0.22 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did SES AI generate in fiscal 2025?
SES AI generated -$61.2M of free cash flow in fiscal 2025.
What was SES AI's revenue last quarter?
In its most recent reported quarter (2026 Q2), SES AI reported revenue of $5.1M.
How many shares of SES AI are outstanding?
SES AI reported a weighted average of 336.3 million basic shares outstanding in 2026 Q2.
What is SES AI's market cap?
Based on its latest closing price, SES AI (SES) has a market capitalization of about $336.3M.
When does SES AI's fiscal year end?
SES AI's fiscal year end, as registered with the SEC, is December 31.
Where is SES AI headquartered?
SES AI lists its business address in Woburn, Massachusetts in its SEC filings.
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