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Sep 30, 2023
Ses Ai Q3 2023 Earnings Report
SES AI reported a net loss of $0.04 per share in Q3 2023.
Key Takeaways
SES AI is transitioning to B samples and expects to sign a joint development agreement with an OEM customer. The company reported a net loss of $0.04 per share and ended the quarter with $342 million in cash, cash equivalents, and marketable securities.
SES AI expects to sign a B-sample joint development agreement with an OEM customer in the next few weeks.
The company's advancements address safety issues in both Li-ion and Li-Metal batteries.
SES AI completed its second testing bunker to test new battery technologies.
The company is on track for the transition to B-samples by the end of this year.
Forward Guidance
SES AI updated guidance for total cash usage in 2023 is now $85 - $105 million, comprised of cash usage from operations of $65 - $75 million and for capital expenditures in the range of $20 - $30 million.
Positive Outlook
- Transitioning to B-samples
- Signing a joint development agreement with an OEM customer
- Advancements in battery safety
- Completion of the second testing bunker
- Strong liquidity position to invest in next-generation manufacturing lines
Challenges Ahead
- Net loss attributable to common stockholders was a loss of $0.04 per share
- Cash used in operations was $43.9 million year-to-date
- Capital expenditures so far this year has been $12.3 million
- Updated guidance for total cash usage in 2023 is now $85 - $105 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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