NYSE$SES
Ses Ai Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
SES AI reported an operating loss in Q3 2022 and continued to focus on developing Li-Metal battery technology.
SES AI Corporation reported an operating loss of $21.7 million for the third quarter of 2022, driven by increased general and administrative, and research and development expenses. The company focused on the development of Li-Metal battery technology and AI-powered safety software. They also made progress on mid-2023 milestones, including delivering "A-sample" batteries and transitioning to "B-sample" batteries.
- SES Korea pilot facility was completed and ready-to-use in September, producing about 100 large Apollo-based cells.
- Shanghai Giga facility was fully operational in Q3 and has produced about 1,000 Apollo-based cells since January.
- The company shared 50 Ah cell data with OEM JDA partners and began shipping cells to some partners.
- The ability to predict failures in large 50 and 100 Ah cells has increased from 0 to approximately 60% in the past few months.
Headline financials
Revenue & EPS history
Ses Ai · Revenue · Quarterly
$0
Forward guidance
SES AI is focused on achieving mid-2023 milestones and leveraging the Inflation Reduction Act. They are working to deliver and optimize "A-sample" batteries, transition to "B-sample" batteries, and establish supply chains for key materials. The company expects to use cash to support the development of Li-Metal battery technology and AI-powered safety software.
Tailwinds
- Attractive tax credits and incentives for battery manufacturing and supply chain build-out in North America from the Inflation Reduction Act.
- Good progress on mid-2023 milestones, including delivering "A-sample" batteries and transitioning to "B-sample" batteries.
- Continued development of all aspects of Li-Metal battery technology and AI-powered safety software platform Avatar.
- Expect to end the year with over $350 million of cash.
- Topics at Battery World will include data and performance of our large format cells, AI-based battery health monitoring developments, and further thoughts on our supply chain initiatives.
Headwinds
- The development and building large 50 and 100 Ah cells has been incredibly difficult and, candidly, much harder than we expected.
- Encountered complex problems, including poor pressed density of wide format lithium-metal foils.
- Powder arising from using lasers to cut our anodes that can lead to cells shorting.
- Optimizing pressure distribution over a larger area.
- Developing accurate health monitoring algorithms for large cells without any data initially
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 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
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2024 | — | — | — | |
| 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 | — | — | — |
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