NYSE$SES

Ses Ai Corp · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

SES AI reported an operating loss due to general and administrative, and research and development expenses. They ended the quarter with a solid cash position, expecting to use it to further develop Li-Metal battery technology.

SES AI Corporation reported an operating loss of $19.2 million for the first quarter of 2022, driven by general and administrative expenses of $15.1 million and research and development expenses of $4.1 million. Net loss attributable to common stockholders was $27.0 million, or a loss of $0.12 per share. The company ended the quarter with $426 million in cash and cash equivalents.

  • Closed business combination with Ivanhoe Capital Acquisition Corporation in early February.
  • Announced a joint development agreement (JDA) with Honda to develop Li-Metal batteries.
  • Formed SES Korea with plans to build a pre-production facility in South Korea.
  • Completed Phase 1 of Pilot Facility in Shanghai, providing 0.2GWh of capacity to produce Li-Metal cells.

Headline financials

Total Revenue

$0.00

No prior period
EPS (adj)

-$0.12

Previous: -$0.06-100.0%
Capital Expenditures

$2.54M

Previous: $265K+859.2%
Free Cash Flow

-$17.4M

Previous: -$3.4M-409.9%
Net Income

-$27M

Previous: -$3.6M-652.0%
Operating Income

-$19.2M

Previous: -$4.44M-332.5%
Cash & Equivalents

$426M

Previous: $134K+319022.2%
Total Assets

$474M

Previous: $278M+70.5%
Stock-Based Comp

$3.19M

Previous: $72K+4325.0%

Revenue & EPS history

Ses Ai · Revenue · Quarterly

$0

Q1 2022

Forward guidance

SES is targeting to deliver and optimize A-samples for their 3 JDA partners, begin transitioning from A-samples to B-samples, and continue to establish supply chains for key materials over the next 12 months. They estimate that in 2022, capital expenditures will range from $25 million to $35 million, and cash used in operations will be between $70 million and $80 million, resulting in an expected cash usage between $95 million and $115 million.

Tailwinds

  • Deliver and optimize A-samples for our 3 JDA partners
  • Begin to transition from A-samples to B-samples
  • Continue to establish supply chains for key materials
  • Capital expenditures will range from $25 million to $35 million
  • Cash used in operations will be between $70 million and $80 million

Headwinds

  • Use of cash for the year is expected to range between $95 million and $115 million
  • Changes in domestic and foreign business, market, financial, political and legal conditions, including but not limited to the ongoing conflict between Russia and Ukraine
  • Risks relating to the uncertainty of the projected financial information with respect to SES
  • Risks related to the development and commercialization of SES’s battery technology and the timing and achievement of expected business milestones
  • The effects of competition on SES’s business

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+1.5%

Avg return

Earnings day

-0.7%

Avg return

5 days after

-7.7%

Avg return

30 days after

57%

12 / 21 earnings

Positive

+28.4%

Q1 2022

Best reaction

-36.3%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.9%-16.4%-0.8%
Q4 2025-36.3%-25.7%-41.8%
Q3 2025-1.8%+4.0%-2.7%
Q2 2025-23.7%-17.5%-23.4%
Q1 2025+18.5%+3.5%+9.6%
Q4 2024-5.1%-31.6%-35.2%
Q3 2024-12.7%-15.7%-32.3%
Q1 2024-5.4%-6.1%-15.5%
Q4 2023+23.2%+21.7%+20.3%
Q3 2023+5.3%+2.6%+12.2%
Q2 2023+2.7%-4.3%-22.4%
Q1 2023+10.7%+2.7%+42.3%
Q4 2022+1.5%+0.4%-11.2%
Q3 2022+7.4%+5.0%-24.5%
Q2 2022+11.6%+11.2%+3.4%
Q1 2022+28.4%+50.0%-7.1%
Q4 2021+6.6%+1.9%-26.5%
Q3 2021+5.7%+0.4%-5.4%
Q2 2021+0.2%+0.4%+1.1%
Q1 2021-0.7%-0.3%-1.2%
Q4 2020-0.7%-0.3%-1.2%
Q3 2019
Q2 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro