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Delisting risk

SES · NYSE · Auto - Parts

S.E.S. AI

Builds energy-storage systems, drone batteries, and advanced battery materials with AI-enabled development.

$0.5280

After-hours close+0.01 (+1.13%)

At close$0.5221(−4.80%)

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Profile

SES AI CorporationSESConsumer Discretionary

Generates product revenue from residential and commercial energy-storage systems, drone cells, and battery materials, alongside customer-specified materials-development services. Its revenue-generating units are energy storage systems, drones, and advanced materials, while financial reporting remains consolidated in one segment.

Product lines span residential and commercial energy-storage systems, Li-ion and Li-Metal drone cells, and battery materials, with services covering customer-specified materials discovery, design, and development. Management groups the commercial business around energy storage systems, drones, and advanced materials.

Molecular Universe is the AI-enabled platform supporting materials discovery, alongside AI-supported engineering, manufacturing, and battery health and safety monitoring. Research and development facilities operate in Woburn, Shanghai, and Chungju.

Commercialization depends on manufacturing products at the required quality and scale and on adoption across energy storage, drones, electric vehicles, urban air mobility, robotics, and Molecular Universe markets. Current financial reporting is managed as one reportable segment.

Company facts

CEODr. Qichao Hu

ListedFeb 4, 2022

ExchangeNYSE

HeadquartersWoburn, MA

CountryUnited States

Employees215

CIK0001819142

ISINUS78397Q1094

Key statistics

Market cap$190.3M

EPS (ttm)−$0.2045

P/E (ttm)−2.55

ROE-32.6%

P/B0.9391

P/S8.11

Dividend yield—

Beta3.19vs XLY −0.20

Year to date −72.8% · Average volume (30d) 16.6M

Analysts

Price target, next 12 months$1.10+111.5%Median of 4 analysts · vs the Aug 28 close

ConsensusHold1 of 4 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $0.5200

High$1.10+111.5%

Median$1.10+111.5%

Low$1.10+111.5%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 12, 2026	Deutsche Bank	Target		$1.40	$1.10
Apr 27, 2026	Deutsche Bank	Target		$1.50	$1.40
Nov 6, 2025	Cantor Fitzgerald	Reiterate	Overweight		$4

Earnings

EPS

Estimate−$0.04

ReportedDue Nov 11, 2026

Revenue

Estimate$7.2M

ReportedDue Nov 11, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 11, 2026Q2 FY26	−$0.04	−$0.04	+4.0%	$5.6M	$5.1M	−8.9%	+2.15%
Apr 23, 2026Q1 FY26	−$0.01	−$0.03	−200.0%	$3.7M	$6.7M	+83.8%	−4.92%
Mar 4, 2026Q4 FY25	−$0.06	−$0.04	+33.3%	$7.0M	$4.6M	−34.0%	−36.84%
Nov 5, 2025Q3 FY25	−$0.03	−$0.06	−100.0%	$4.6M	$7.1M	+55.3%	−1.79%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$5.8M	$3.5M	$7.1M	$4.6M	$6.7M	$5.1M
Gross profit	$4.6M	$2.6M	$3.6M	$514.0K	$1.2M	$1.1M
Operating income	−$23.3M	−$23.0M	−$18.6M	−$17.7M	−$17.9M	−$19.2M
Net income	−$12.4M	−$22.7M	−$20.9M	−$17.0M	−$12.1M	−$17.9M
Diluted EPS	−$0.04	−$0.07	−$0.06	−$0.05	−$0.04	−$0.05
Gross margin	78.7%	73.7%	51.1%	11.3%	18.1%	22.6%
Operating margin	-401.7%	-652.3%	-262.0%	-387.7%	-266.3%	-378.5%

Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $2.0M · FY25 $21.0M

Revenue by product · Q2 FY26

Product$5.1M · 100%

Service$7.0K · 0%

Balance sheet, Jun 30, 2026Cash & short-term investments $163.0M · Total debt $6.7M · Total assets $236.2M · Shareholders' equity $187.1M

Dividends

No dividends on record.

Ownership

Institutions 28.43%92.51M sharesInsiders 4.16%13.55M sharesOther 67.41%219.34M shares

Shares outstanding 325.40M · Float 284.82M · 87.5% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Tianqi Lithium HK Co., Ltd.	24.92M	7.80%	13G	Jan 21, 2026
BlackRock, Inc.	18.83M	5.80%	13G	Jul 30, 2026
Invesco Ltd.	10.27M	3.15%	13F	Aug 14, 2026
State Street Corp	9.62M	2.96%	13F	Aug 7, 2026
Vanguard Capital Management LLC	9.59M	2.95%	13F	Aug 13, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
May 22, 2026	Kyle Pilkington	officer: CHIEF LEGAL OFFICER	−25,000	$1.20
Mar 9, 2026	Kyle Pilkington	officer: CHIEF LEGAL OFFICER	−25,000	$1.20
Jan 23, 2026	Hong Gan	officer: CHIEF SCIENCE OFFICER	−100,000	$2.50
Jan 22, 2026	Hong Gan	officer: CHIEF SCIENCE OFFICER	−150,000	$2.50
Dec 15, 2025	Hong Gan	officer: CHIEF SCIENCE OFFICER	−100,000	$1.98