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Jun 30, 2023
Ses Ai Q2 2023 Earnings Report
SES AI Reported Second Quarter 2023 Earnings, Showcasing Progress in B-sample Transition and Expansion into UAM.
Key Takeaways
SES AI reported operating expenses of $19.3 million, with R&D at $6.4 million and G&A at $12.9 million. Net loss attributable to common stockholders was $0.04 per share. The company ended the quarter with $357 million in cash, cash equivalents, and marketable securities.
Made progress toward B-sample transition with existing A-sample lines expected to produce nearly 1,000 Li-Metal cells per month per line.
Preparing to build a new Line 5 dedicated to B-samples for Urban Air Mobility (UAM).
Expanding into novel techniques for material and process discovery using AI/Machine Learning.
Cash, cash equivalents, and marketable securities totaled $357 million.
Forward Guidance
The company's financial guidance for 2023 is unchanged, expecting cash usage from operations between $80 - $100 million and capital expenditures between $50 - $70 million, projecting total cash usage for the year between $130 - $170 million, trending toward the lower end.
Positive Outlook
- Preparing for the transition to B-samples.
- Making investments in more advanced equipment for Line 4.
- Expanding into the UAM market with Line 5, providing another growth opportunity.
- Liquidity is sufficient to get to commercialization.
- Trending toward the lower end of cash usage guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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