SES AI Corporation Class A ( (SES) ) has released its Q4 earnings. Here is a breakdown of the information SES AI Corporation Class A presented to its investors.
SES AI Corporation Class A is a technology company specializing in AI-enhanced battery solutions for electric vehicles, drones, robotics, and battery energy storage systems, aiming to revolutionize energy storage with advanced AI applications. In its latest earnings report, SES AI announced a significant milestone by generating revenue for the first time in the fourth quarter of 2024, marking its transition from a pre-revenue stage to a revenue-generating entity. The company secured $10 million in contracts for AI-enhanced EV battery development and expanded its market presence in drones, robotics, and battery energy storage systems. Key financial highlights include a reported revenue of $2.0 million with a 63% gross margin, operating expenses of $30.4 million, and a strong liquidity position of $262.5 million. Looking ahead, SES AI anticipates revenue growth between $15 million and $25 million in 2025, driven by expanding partnerships and commercialization efforts, while maintaining a focus on financial discipline and strategic investments.