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SES AI Reports Third Quarter 2026 Financial Results
Unveils Flywheel corporate structure, composed of three complementary businesses
Delivered third quarter revenue of $6.6 million, up 31% from the second quarter
Completed ramp of Chungju, South Korea line to 1 million NDAA-compliant drone cells per year; expansion to 3 million cells per year planned by the end of the second quarter of 2027
Narrowed GAAP net loss to $13.4 million from $17.9 million in the second quarter
Maintained liquidity of approximately $137 million with no debt
Reiterated full year 2026 revenue guidance of $30 million to $35 million
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Reported revenue of $6.6 million in the third quarter of 2026, compared to $5.1 million in the second quarter of 2026; product revenue more than doubled from $3.2 million in the third quarter of 2025.
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GAAP net loss in the third quarter of 2026 of $13.4 million, or $0.04 per share, compared to a GAAP net loss of $17.9 million, or $0.05 loss per share, in the second quarter of 2026
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Non-GAAP net loss in the third quarter of 2026 of $10.7 million, or $0.03 loss per share, compared to a non-GAAP net loss of $13.1 million, or $0.04 loss per share, in the second quarter of 2026
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Completed the ramp of the Chungju, South Korea drone cell line to an installed capacity of 1 million NDAA-compliant cells per year, with ISO 9001 certification; the line has been running since early October
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Announced a staged expansion of the Chungju line to 3 million NDAA-compliant cells per year, planned by the end of the second quarter of 2027
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Secured PO from multiple participants and winners of the Drone Dominance Program Gauntlet challenge, with more than 50 drone makers and pack integrators in the pipeline, with half a dozen line audits completed
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Molecular Universe 4.0, delivered through the M-Lab offering, is in evaluation with several of the world’s largest battery manufacturers
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Reiterated previously issued full year 2026 revenue guidance in a range of $30 million to $35 million
WOBURN, Mass., November 12, 2026–(BUSINESS WIRE)–SES AI Corporation (“SES”) (NYSE: SES), a global developer and manufacturer of AI-enhanced high-performance Li-Metal and Li-ion batteries for drones and other unmanned systems, today announced its business results for the third quarter ended September 30, 2026, and reiterated its previously issued financial guidance for the year ending December 31, 2026.
The Company posted a Letter to Our Shareholders on its Investor Relations website, which provides a business update, details on its third quarter 2026 results, and its guidance for 2026.
