SES AI Corporation (SES) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	23.5M	21.0M	2.0M	—	—
Cost of Revenue	17.0M	9.7M	752.0K	—	—
Gross Profit	6.5M	11.3M	1.3M	—	—
Operating Expenses
R&D Expense	49.8M	67.0M	72.1M	30.7M	28.0M
SG&A Expense	30.1M	26.9M	38.4M	47.5M	51.6M
General & Admin Expense	30.1M	26.9M	38.4M	47.5M	51.6M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	—	—	—	—	—
Total Operating Expenses	79.9M	93.9M	110.5M	78.2M	79.6M
Cost and Expenses	96.9M	103.6M	111.3M	78.2M	79.6M
Operating Income (EBIT)	(73.4M)	(82.6M)	(109.2M)	(78.2M)	(79.6M)
Non-Operating
Interest Income	7.5M	9.3M	15.0M	16.7M	6.2M
Interest Expense	—	—	—	—	—
Net Interest Income	7.5M	9.3M	15.0M	16.7M	6.2M
Other Non-Op Income/Expense	5.5M	9.8M	9.3M	23.9M	29.8M
Non-Operating Income (excl Interest)	(5.5M)	(9.8M)	(9.3M)	(23.9M)	(29.8M)
EBT (Pre-Tax Income)	(67.9M)	(72.8M)	(100.0M)	(54.3M)	(49.7M)
Income Tax Expense	105.0K	231.0K	188.0K	(853.0K)	1.3M
Bottom Line
Net Income	(68.0M)	(73.0M)	(100.2M)	(53.4M)	(51.0M)
Earnings from Cont. Ops	(68.0M)	(73.0M)	(100.2M)	(53.4M)	(51.0M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(68.0M)	(73.0M)	(100.2M)	(53.4M)	(51.0M)
Per Share
Basic EPS	($0.20)	($0.22)	($0.31)	($0.17)	($0.18)
Diluted EPS	($0.20)	($0.22)	($0.31)	($0.17)	($0.18)
Revenue Per Share	$0.07	$0.06	$0.01	$0.00	$0.00
Shares
Basic Shares Outstanding	336.3M	330.9M	321.8M	315.1M	288.3M
Diluted Shares Outstanding	336.3M	330.9M	321.8M	315.1M	288.3M
Profitability Metrics
EBITDA	(57.2M)	(62.5M)	(91.7M)	(48.7M)	(47.1M)
D&A	10.6M	10.3M	8.3M	5.5M	2.6M
EBIT	(67.9M)	(72.8M)	(100.0M)	(54.3M)	(49.7M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026