The company said, “Based on this month’s announcement of contracts with SES AI’s (SES) OEM partners for the commercial application of AI for Science for battery material discovery and the purchase order for AI-enhanced Li-Metal and Li-ion batteries for drone applications, the Company expects to report fourth quarter revenue earlier than it originally anticipated and in the range of $1.5 million to $2.0 million. In addition, the Company anticipates that its work during the quarter to reduce expenses should result in 2024 year-end liquidity (consisting of cash and cash equivalents and short-term investments) in the range of $260 million to $265 million and no debt outstanding.”
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