SES AI Corporation Class A (SES)
NYSE:SES
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Earnings Data
Report Date
Aug 11, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.06Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of strong operational momentum and meaningful near-term progress alongside ongoing losses and execution risks. Positive indicators include a 47% sequential revenue increase to $6.7M, margin expansion (GAAP gross margin up to 18.1% from 11.3%), reaffirmed FY2026 guidance of $30M–$35M, a $20M three-year ATGE distribution agreement, progress converting and shipping NDA-compliant drone cells with a pipeline of customers, and growing validation of the Molecular Universe platform (v2.5 and a multiyear subscription from a major battery manufacturer). Conversely, the company remains loss-making (GAAP net loss $12.1M, adjusted EBITDA negative $12.8M), recorded significant cash burn (~$20M in Q1), faces timing/lumpiness in revenue, and has multistep qualification timelines for drones and materials that may delay larger commercial revenue. On balance, the operational progress, contract wins, margin improvements, and strong liquidity materially outweigh the ongoing losses and near-term execution risks, while still requiring continued discipline to hit profitability targets.Company Guidance
Strong Q1 Revenue Growth and Consensus Beat
Q1 2026 revenue of $6.7 million, a 47% sequential increase versus the prior comparable period (reported $4.6M), described as well above published consensus estimates. Company reaffirmed full-year 2026 revenue guidance of $30 million to $35 million.
Improving Margins
GAAP gross margin improved to 18.1% in Q1 2026 from 11.3% in the prior period; non-GAAP gross margin improved to 18.3% from 11.7%, driven by better margins in UZ ESS and higher-margin sample sales and Molecular Universe subscription revenue.
Progress Toward Reduced Operating Expenses
Company reiterated plan to deliver approximately a 15% reduction in full-year operating expenses; non-GAAP operating expenses were $14.3M in Q1 versus $13.5M prior, with expected full-quarter expense reduction visible from Q3.
Improving Profitability Metrics (Non-GAAP/EBITDA)
GAAP net loss improved to $12.1M ($0.04 per share) from $17.0M ($0.05); non-GAAP net loss improved to $11.1M ($0.03) from $11.8M ($0.04). Adjusted EBITDA loss narrowed to $12.8M from $13.8M, indicating emerging operating leverage.
Strong Liquidity and Cash Position
Exited Q1 with approximately $178 million in liquidity and reported cash used in operations of ~$20 million in the quarter, consistent with the operating plan; management emphasized a CapEx-light model and runway to fund 2026 initiatives.
Major Distribution Agreement for ESS (UZ Energy)
Signed a multiyear distribution agreement with ATGE Power to enter North America; contract valued at approximately $20 million over three years, providing immediate access to established distribution across residential, commercial and industrial segments.
Drone Cell Manufacturing Progress and Early Commercial Activity
Completed conversion of Jeongju, South Korea manufacturing line to drone-format power cells with planned ramp to >1 million annual drone cells; began shipping NDA-compliant cells from Chengdu for evaluation and qualification, with a pipeline of a few dozen customers and market pricing for NDA-compliant cells of ~$25–$35 per unit (1M units ≈ $25–$35M revenue potential).
Molecular Universe Platform Momentum
Released Molecular Universe v2.5 (fifth major iteration) with expanded AI workflows and on-premise options; a major global battery manufacturer committed to a multiyear subscription for Search-in-a-Box. Approximately half a dozen customers advanced through second-phase materials testing; Hyzon JV remains on track for commercial-scale production (150k-ton annual capacity).
Leadership and Financial Team Transition
Announced CFO transition: Jing Nealis to step down April 27 and Ray Liu appointed as new CFO (seasoned finance executive, CFA, CPA), providing continuity as company scales.
SES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SES Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $1.22 | $1.16 | -4.92% |
Mar 04, 2026 | $1.71 | $1.08 | -36.84% |
Nov 06, 2025 | $2.19 | $2.55 | +16.44% |
Aug 04, 2025 | $1.37 | $1.05 | -23.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SES AI Corporation Class A (SES) report earnings?
SES AI Corporation Class A (SES) is schdueled to report earning on Aug 11, 2026, After Close (Confirmed).
What is SES AI Corporation Class A (SES) earnings time?
SES AI Corporation Class A (SES) earnings time is at Aug 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is SES EPS forecast?
SES EPS forecast for the fiscal quarter 2026 (Q2) is -0.04.