SES on NYSE

SES AI Corp

Miscellaneous electrical machinery company, listed on NYSE (SES). Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$21.0MRevenue, fiscal 20252
-$73.0MNet income, fiscal 20252

Compare with Solid Power, XCHG Ltd or PIONEER POWER SOLUTIONS, INC., or pick any stock.

  • TickerSES on NYSE1
  • IndustryMiscellaneous Electrical Machinery, Equipment & Supplies1
  • HeadquartersWoburn, Massachusetts1
  • Business address35 Cabot Rd., Woburn, Ma 018013
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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We are a leading developer and manufacturer of high-performance, AI-enhanced Lithium-Metal (“Li-Metal”) and Lithium-ion (“Li-ion”) rechargeable battery technologies and battery materials for Energy Storage Systems (“ESS”), Urban Air Mobility (“UAM”), drones, robotics, electric vehicles (“EVs”), and other applications. The Company’s mission is to accelerate the world’s energy transition through material discovery and battery management. SES accelerates its pace of innovation by utilizing superintelligent AI across the spectrum of our business, from research and development, materials sourcing, cell design, engineering and manufacturing, to battery health and safety monitoring .4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

53.8%Gross margin2
-393.4%Operating margin2
-347.8%Net margin2
929.4%Revenue growth, 20252
-34.0%Return on equity2
-$61.2MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 65% of the revenue SES AI Corp broke down this way in fiscal 2025.

  1. Service$13.6M265%up 607% from 2024
  2. Product$7.4M235%up 6082% from 2024
Products and services by year
Products and services20242025
Service$1.9M$13.6M
Product$120.0K$7.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue13¢$9.7M
  • Research and development87¢$67.0M
  • Income tax0¢$231.0K

Out of $21.0M in revenue.2 The company lost money this year.

Financial statements

Revenue2$21.0M in 2025+929% since 2024
0$10.0M$20.0M$30.0M2024: $2.0M$2.0M20242025: $21.0M$21.0M2025+929%
Gross profit2$11.3M in 2025+778% since 2024
0$5.0M$10.0M$15.0M2024: $1.3M$1.3M20242025: $11.3M$11.3M2025+778%
Operating income5672-$82.6M in 2025+494% since 2020
-$150.0M-$100.0M-$50.0M02020: -$13.9M-$13.9M20202021: -$32.0M-$32.0M2021+130%2022: -$79.6M-$79.6M2022+149%2023: -$78.2M-$78.2M2023−2%2024: -$109.2M-$109.2M2024+40%2025: -$82.6M-$82.6M2025−24%
Net income5672-$73.0M in 2025+426% since 2020
-$150.0M-$100.0M-$50.0M02020: -$13.9M-$13.9M20202021: -$31.3M-$31.3M2021+125%2022: -$51.0M-$51.0M2022+63%2023: -$53.4M-$53.4M2023+5%2024: -$100.2M-$100.2M2024+88%2025: -$73.0M-$73.0M2025−27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
Revenue$21.0M$2.0M
Cost of revenues$9.7M$752.0K
Gross profit$11.3M$1.3M
Research and development$67.0M$72.1M
General and administrative$26.9M$38.4M
Total operating expenses$93.9M$110.5M
Loss from operations-$82.6M-$109.2M
Interest income$9.3M$15.0M
Gain (Loss) on change in fair value of Sponsor Earn-Out liabilities$1.7M-$5.3M
Miscellaneous expense, net-$1.2M-$479.0K
Total other income, net$9.8M$9.3M
Loss before income taxes-$72.8M-$100.0M
Provision from income taxes-$231.0K-$188.0K
Net loss-$73.0M-$100.2M
Foreign currency translation gain (loss)$492.0K-$456.0K
Unrealized gain (loss) on short-term investments$15.0K-$164.0K
Total other comprehensive income (loss), net of tax$507.0K-$620.0K
Total comprehensive loss-$72.5M-$100.8M
Net loss per share attributable to common stockholders - basic (in dollars per share)-$0.22-$0.31
Net loss per share attributable to common stockholders - diluted (in dollars per share)-$0.22-$0.31
Weighted-average shares outstanding, basic (in shares)330.9M shares321.8M shares
Weighted-average shares outstanding, diluted (in shares)330.9M shares321.8M shares

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Leadership

Who has led SES AI Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Qichao Hu2022–now

Chair

  1. Qichao Hu2022–now

Chief financial officer

  1. Gary Gartner2021
  2. Jing Nealis2022–now
2025
Board members and other officers (19)

Former names

  • Ivanhoe Capital Acquisition Corp.Aug 7, 2020 to Feb 4, 20223

Timeline

  1. Feb 11, 2022New chief executive Qichao Hu becomes CEO13

Filings

433 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 60 major events, 215 insider forms, 20 large holders, 114 other. The latest 20:

  1. Oct 7, 20264 EDGAR
  2. Sep 3, 20264 EDGAR
  3. Aug 31, 202625-NSE EDGAR
  4. Aug 14, 20268-K EDGAR
  5. Aug 13, 20263 EDGAR
  6. Aug 11, 202610-Q EDGAR
  7. Aug 11, 20268-K EDGAR
  8. Jul 30, 2026SCHEDULE 13G EDGAR
  9. Jul 20, 20268-K EDGAR
  10. Jun 15, 2026144 EDGAR
  11. Jun 8, 2026144 EDGAR
  12. Jun 4, 2026144 EDGAR
  13. Jun 2, 2026144 EDGAR
  14. May 27, 2026144 EDGAR
  15. May 27, 20264 EDGAR
  16. May 22, 2026144 EDGAR
  17. May 20, 20264 EDGAR
  18. May 20, 20264 EDGAR
  19. May 20, 20264 EDGAR
  20. May 20, 20264 EDGAR

The 433 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

125 open-market trades by officers, directors and large owners since October 2021: 2 buys and 123 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 22, 2026Pilkington KyleCHIEF LEGAL OFFICERSale25,000$1.20$30.0KForm 4
Mar 9, 2026Pilkington KyleCHIEF LEGAL OFFICERSale25,000$1.20$30.0KForm 4
Jan 23, 2026Gan HongCHIEF SCIENCE OFFICERSale100,000$2.50$250.0KForm 4
Jan 22, 2026Gan HongCHIEF SCIENCE OFFICERSale150,000$2.50$375.0KForm 4
Dec 15, 2025Gan HongCHIEF SCIENCE OFFICERSale100,000$1.98$198.0KForm 4
Nov 17, 2025Gan HongCHIEF SCIENCE OFFICERSale150,000$1.90$285.0KForm 4
Feb 10, 2025Pilkington KyleCHIEF LEGAL OFFICERSale44,051$1.17$51.5KForm 4
Feb 10, 2025Li GangCHIEF MANUFACTURING OFFICERSale15,909$1.17$18.6KForm 4
Feb 10, 2025Gan HongCHIEF SCIENCE OFFICERSale51,600$1.17$60.4KForm 4
Feb 10, 2025Nealis JingCHIEF FINANCIAL OFFICERSale80,992$1.17$94.8KForm 4
Feb 10, 2025Hu QichaoCEO & CHAIRMANSale194,459$1.17$227.5KForm 4
Feb 10, 2025Xu KangCHIEF TECHNOLOGY OFFICERSale27,969$1.17$32.7KForm 4
Jan 16, 2025Nealis JingCHIEF FINANCIAL OFFICERSale50,000$1.02$51.0KForm 4
Dec 26, 2024Nealis JingCHIEF FINANCIAL OFFICERSale150,000$1.02$153.0KForm 4
Dec 18, 2024SK INC.10% ownerSale400,000$0.42$168.0KForm 4
Dec 17, 2024SK INC.10% ownerSale326,460$0.38$124.1KForm 4
Dec 16, 2024SK INC.10% ownerSale500,000$0.40$200.0KForm 4
Dec 13, 2024SK INC.10% ownerSale417,857$0.39$163.0KForm 4
Dec 12, 2024SK INC.10% ownerSale115,508$0.42$48.5KForm 4
Dec 11, 2024SK INC.10% ownerSale300,000$0.44$132.0KForm 4

All 125 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.18,946,396$18.2M0.0%+13,465,285
Artemis Investment Management LLP133,282$13.7M0.1%New
Invesco Ltd.10,265,727$9.9M0.0%+2,368,031
State Street Corp9,621,184$9.2M0.0%+6,582,374
Vanguard Capital Management LLC9,585,985$9.2M0.0%+114,877
Geode Capital Management, LLC6,619,239$6.4M0.0%+3,425,485
Two Sigma Investments, LP5,711,123$5.5M0.0%+3,721,104
Temasek Holdings (Private) Ltd3,160,712$3.0M0.0%No change
General Motors Holdings LLC2,921,950$2.8M3.5%No change
Charles Schwab Investment Management Inc2,147,594$2.1M0.0%+547,826
Northern Trust Corp1,982,414$1.9M0.0%+1,343,967
Vanguard Portfolio Management LLC1,977,420$1.9M0.0%+1,734,514
Vanguard Fiduciary Trust Co1,722,801$1.7M0.0%+213,634
Renaissance Technologies LLC1,678,042$1.6M0.0%−2,918,210
UBS Group AG865,665$831.0K0.0%−867,015
XTX Topco Ltd792,396$760.9K0.0%+332,692
Bank of New York Mellon Corp699,122$671.3K0.0%+623,501
Inspire Investing, LLC696,061$668.4K0.0%+149,284
Millennium Management LLC623,351$598.5K0.0%−2,557,304
Kestra Advisory Services, LLC618,600$594.0K0.0%+222,415
Susquehanna International Group, Llp453,368$435.3K0.0%+249,784
Mitsubishi UFJ Asset Management Co., Ltd.450,900$433.0K0.0%+253,937
FIL Ltd400,000$384.1K0.0%No change
Nuveen, LLC333,505$320.2K0.0%New
HITE Hedge Asset Management LLC306,121$293.9K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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