SES AI reports preliminary Q2 revenue $3.5M, consensus $4.33M

Reports preliminary Q2 gross margin 74%. Qichao Hu, founder and CEO of SES AI (SES), noted, “We continued our path to profitability with revenue of $3.5 million during the second quarter, positioning us to reach our year-end revenue target of between $15 million to $25 million. With today’s separate announcement of the signing of a deal to acquire UZ Energy, we are deploying a nominal amount of our excess liquidity to pursue what we view as a tremendous opportunity to accelerate our platform strategy in the global energy storage market that will provide additional revenue growth in 2025 and beyond.”