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SES AI Corp

SES Clue Score46
United States Fiscal year ends December CIK 0001819142
$0.78 -0.32% Close, 9 Oct 2026
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Price $0.78 −92.15% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 1 Mar 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Operating income−13.9Net income−13.9EPS, diluted−0.23Fiscal year 2021Operating income−32.0Net income−31.3EPS, diluted−0.51Fiscal year 2022Operating income−79.6Net income−51.0EPS, diluted−0.18Fiscal year 2023Operating income−78.2Net income−53.4EPS, diluted−0.17Fiscal year 2024Revenue2.0Operating income−109.2Net income−100.2EPS, diluted−0.31Fiscal year 2025Revenue21.0 +929.4%Operating income−82.6Net income−73.0EPS, diluted−0.22
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a n/a 2.0 21.0
Growth +929.4%
Operating income −13.9 −32.0 −79.6 −78.2 −109.2 −82.6
Net income −13.9 −31.3 −51.0 −53.4 −100.2 −73.0
Growth
EPS, diluted −0.23 −0.51 −0.18 −0.17 −0.31 −0.22

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Fiscal year 2021Fiscal year 2022Fiscal year 2023Fiscal year 2024Gross margin63.1%Operating margin−5,355.3%Net margin−4,911.0%Free cash flow margin−3,837.8%Fiscal year 2025Gross margin53.8%Operating margin−393.4%Net margin−347.8%Free cash flow margin−291.5%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a 63.1% 53.8%
Operating margin n/a n/a n/a n/a −5,355.3% −393.4%
Net margin n/a n/a n/a n/a −4,911.0% −347.8%
Free cash flow margin n/a n/a n/a n/a −3,837.8% −291.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−11.0Capital expenditure−1.0Free cash flow−12.0Fiscal year 2021Operating cash flow−30.0Capital expenditure−9.0Free cash flow−38.9Fiscal year 2022Operating cash flow−46.5Capital expenditure−14.7Free cash flow−61.2Fiscal year 2023Operating cash flow−56.4Capital expenditure−15.8Free cash flow−72.2Fiscal year 2024Operating cash flow−66.1Capital expenditure−12.2Free cash flow−78.3Fiscal year 2025Operating cash flow−58.4Capital expenditure−2.9Free cash flow−61.2Buybacks−1.6
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −11.0 −30.0 −46.5 −56.4 −66.1 −58.4
Capital expenditure −1.0 −9.0 −14.7 −15.8 −12.2 −2.9
Free cash flow −12.0 −38.9 −61.2 −72.2 −78.3 −61.2
Growth
Buybacks n/a n/a n/a n/a n/a −1.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2020Cash0.2Shareholders’ equity−0.0Fiscal year 2021Cash160.5Shareholders’ equity−88.3Fiscal year 2022Cash106.6Shareholders’ equity391.5Fiscal year 2023Cash85.7Shareholders’ equity359.0Fiscal year 2024Cash128.8Shareholders’ equity278.3Fiscal year 2025Cash29.5Shareholders’ equity214.8
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.2 160.5 106.6 85.7 128.8 29.5
Shareholders’ equity −0.0 −88.3 391.5 359.0 278.3 214.8

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
n/a n/a n/a n/a 2.0 21.0
Growth +929.4%
n/a n/a n/a n/a 0.8 9.7
n/a n/a n/a n/a 1.3 11.3
Growth +777.9%
9.4 15.5 28.0 30.7 72.1 67.0
4.5 16.5 51.6 47.5 38.4 26.9
−13.9 −32.0 −79.6 −78.2 −109.2 −82.6
Growth
−13.9 −31.2 −49.7 −54.3 −100.0 −72.8
0.0 0.0 1.3 −0.9 0.2 0.2
−13.9 −31.3 −51.0 −53.4 −100.2 −73.0
Growth
Per share
−0.23 −0.51 −0.18 −0.17 −0.31 −0.22
−0.23 −0.51 −0.18 −0.17 −0.31 −0.22
Growth
60.8 61.1 288.3 315.1 321.8 330.9
60.8 61.1 288.3 315.1 321.8 330.9
Growth +0.5% +371.9% +9.3% +2.1% +2.8%

† The diluted share count jumps at 2022, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 6 of 6 years on file.