SES AI Reports Third Quarter 2025 Financial Results

Reports third quarter revenue of $7.1 million

Updated 2025 revenue guidance to $20 million to $25 million

Acquired UZ Energy to Expand Reach into Energy Storage Systems

Announced MU-1, the latest version of Molecular Universe software and services platform for all batteries and chemistries

Established a JV with Hisun New Materials to Commercially Supply Materials Discovered by Molecular Universe

WOBURN, Mass.--(BUSINESS WIRE)-- SES AI Corporation (“SES AI”, the “Company,” “we” or “us”) (NYSE: SES), a global leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, today announced its business results for the third quarter ended September 30, 2025 and affirmed its previously issued financial guidance for the year ending December 31, 2025.

Third Quarter 2025 Highlights:

• Revenue of $7.1 million, a $3.6 million increase over the second quarter 2025
• Gross Margin of 51%, primarily from continued strong service performance
• Recorded a GAAP net loss of $20.9 million, or $(0.06) per share, an improvement from the second quarter 2025 GAAP net loss of $22.7 million, or $(0.07) per share
• Cash used in operations was $14.3 million
• Quarter end liquidity was $214 million
• Repurchased 1,340,656 shares for $1.6 million, or roughly $1.20 per share
• Completed acquisition of UZ Energy, an established player in the ESS space
• Launched Joint Venture with Hisun New Materials to commercially supply materials discovered by Molecular Universe
• Updated 2025 revenue guidance to $20 million to $25 million

The Company posted a Letter to Our Shareholders on its Investor Relations website from Founder and CEO Dr. Qichao Hu and Chief Financial Officer Jing Nealis, which provides a business update, details on its third quarter 2025 results, and its guidance for 2025.

Qichao Hu, Founder and CEO of SES AI, noted, “The last few months have been transformative for SES AI, as we acquired UZ Energy, entered a joint venture with Hisun, and unveiled the latest version of Molecular Universe. We also increased our 2025 year-end revenue target to $20 million to $25 million to include UZ Energy’s contribution. At both the Detroit Battery Show and on our Live Demo in October, we received an overwhelmingly positive response to MU-1 from existing customers and potential new users on how it provides complete end-to-end material discovery capability and the potential to accelerate battery material discovery from years to just tens of minutes.”

“We see our Hisun JV as a new source of recurring revenue which allows us to continue a capex-light approach by leveraging Hisun’s manufacturing capacity to expand and commercialize our electrolyte materials and battery cell supply strategies for our customers. With the closing of our accretive UZ Energy acquisition, we have developed a go-to-market strategy to grow market share in ESS in not only UZ’s existing markets in Europe, Australia and Asia but also in the United States. As we close out 2025, SES AI is well positioned for deployment of our excess liquidity for future M&A opportunities, continued share repurchases, and increasing the commercialization of MU-1 by building the best AI platform for energy transition,” Hu added.

The Company will hold a conference call on Wednesday, November 5, 2025, at 5:00 p.m. ET.

A webcast of the live conference call will be available through SES’s Investor Relations website, https://investors.ses.ai.

The conference call can also be accessed live over the phone by dialing the following numbers:
United States (Toll Free): +1 833-470-1428
International: +1 646-844-6383
https://events.q4inc.com/attendee/594340716
Access Code: 932970

A webcast replay will be available shortly after the call at:
https://investors.ses.ai/events-and-presentations/events/default.aspx

About SES AI:

SES AI Corp. (NYSE: SES) is powering the future of global electric transportation on land and in the air with the world’s most advanced Li-Metal batteries. SES AI is the first battery company in the world to accelerate its pace of innovation by utilizing superintelligent AI across the spectrum of its business, from research and development; materials sourcing; cell design; engineering and manufacturing; to battery health and safety monitoring. Founded in 2012, SES AI is an Li-Metal battery developer and manufacturer headquartered in Boston and with operations in Singapore, Shanghai, and Seoul. Learn more at SES.AI.

SES AI may use its website as a distribution channel of material company information. Financial and other important information regarding SES AI is routinely posted on and accessible through the Company’s website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following SES AI’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “focus,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” “project” and “pursue” or the negative of these terms or similar expressions. These statements are based on the beliefs and assumptions of the management of the Company. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. Should one or more of a number of known and unknown risks and uncertainties materialize, or should any of our assumptions prove incorrect, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to, among other things, risks related to the integration of Shenzhen UZ Energy Co. Ltd. and its related entities (“UZ Energy”) operations into the business of the Company, risks related to the development and commercialization of SES AI’s battery technology and the timing and achievement of expected business milestones, risks relating to the uncertainty of achieving and maintaining profitability, the ability of SES to integrate its products into electric vehicles and Urban Air Mobility, drones, energy storage systems, robotics and other applications, the risk that the market for SES AI’s AI-based services, including Molecular Universe, is still emerging, and such programs may not achieve the growth potential SES AI expects, risks related to the elimination of, or uncertainty regarding government and economic incentives or subsidies available to us, end-users or OEMs, risks related to changes in U.S. and foreign government policy, including imposition or increase in tariffs and changes to existing trade agreements, risks related to our dependence on third parties for component and product manufacturing, risks related to the demand for our energy storage system products and other factors described in our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this letter speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

© 2025 SES AI Corp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251105492046/en/

For the media:

pr@ses.ai

For investors:

ir@ses.ai

Source: SES AI Corporation