Earnings Releases·Nov 12, 2026, 8:15 AM ET

SES AI Corporation — Q3 2026 Earnings Summary

Q3 revenue rose 31% sequentially to $6.6 million, while GAAP net loss narrowed to $13.4 million ($0.04/share) from $17.9 million ($0.05/share) in Q2; however, GAAP gross margin declined to 4.9% from 22.6% due to lower-margin inventory sales.
Full-year 2026 revenue guidance remains unchanged at $30 million to $35 million, implying Q4 revenue of $11.6 million to $16.6 million, with meaningful drone business revenue expected to begin in Q4 as sample orders convert to mass production.
Capital allocation included a $9.2 million share repurchase (16.2 million shares) in September, with $19.1 million remaining under authorization, alongside a filed proxy for a reverse stock split to support NYSE listing eligibility.
Strategic milestones include the completion of the Chungju line ramp to 1 million NDAA-compliant cells annually, ISO 9001 certification for drone cells, and the launch of Molecular Universe 4.0, while capacity expansion to 3 million cells is targeted for end of Q2 2027.