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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
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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
Margins
n/a n/a n/a n/a 63.1% 53.8%
n/a n/a n/a n/a −5,355.3% −393.4%
n/a n/a n/a n/a −4,901.8% −346.7%
n/a n/a n/a n/a −4,911.0% −347.8%
n/a n/a n/a n/a −3,837.8% −291.5%
Spending
n/a n/a n/a n/a 3,536.3% 319.3%
n/a n/a n/a n/a 1,882.1% 128.0%
n/a n/a n/a n/a 598.3% 13.6%
Returns
n/a n/a −13.0% −14.9% −36.0% −34.0%
−2,418.4% −16.2% −11.6% −13.1% −30.4% −26.8%
Balance and payout
101.4% 6.1% 11.1% 11.8% 15.6% 21.2%