SES AI Projects 2026 Revenue $30M-$35M, Shares Plunge 30%
SES AI reported a fourth-quarter adjusted loss of $0.04 per share on $4.6 million revenue, beating loss estimates but missing the $6.64 million consensus. The company forecasted 2026 sales of $30 million to $35 million versus $51.7 million expected, triggering a 30% stock plunge.
1. Q4 Earnings Beat, Revenue Miss
SES AI posted an adjusted loss of $0.04 per share in the fourth quarter, outperforming the $0.05 loss analysts forecast. Revenue rose to $4.6 million from $2.0 million a year earlier but fell short of the $6.64 million consensus estimate.
2. 2026 Revenue Guidance Falls Short
Management projected 2026 sales between $30 million and $35 million, well below the $51.7 million analysts expected. The softer outlook raised concerns about the pace of commercialization for its Energy Storage Systems and drone battery businesses.
3. Cash Runway Into 2028
SES AI ended 2025 with approximately $200 million in liquidity, which management says will fund operations through 2028 under its capex-light model. This cash position underpins ongoing development of its AI-driven Molecular Universe platform.
4. Stock Performance and Reaction
Shares plunged roughly 30% on the guidance miss, erasing recent gains. The stock fell below its 20-day, 50-day and 200-day moving averages as investors reassessed growth prospects.