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Visual21 Nov 2025
Data center suppliers
SES AI (SES) investor relations material
SES AI Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved record Q3 2025 revenue of $7.1 million, up $3.6 million (102%) sequentially, driven by the all-in AI strategy, launch of Molecular Universe MU 1.0, and UZ Energy acquisition.
Completed the acquisition of UZ Energy, expanding into the energy storage system (ESS) market and contributing 45% of Q3 revenue.
Joint ventures established with Hyzen/Hisun New Materials to contract manufacture and supply novel electrolyte materials discovered via Molecular Universe.
SaaS and materials supply revenue streams from Molecular Universe expected to drive significant future growth.
Continued focus on AI-enhanced battery technology for EVs, UAM, and ESS, with significant investment in AI infrastructure and material discovery platforms.
Financial highlights
Q3 2025 revenue reached $7.1 million, a $3.6 million (102%) increase from Q2; nine-month revenue was $16.4 million.
Gross margin for Q3 was 51%–51.1%, with service revenue at 78% margin and product revenue at 15%.
GAAP net loss for Q3 was $20.9 million (-$0.06 per share), improved from Q2's $22.7 million (-$0.07 per share).
Cash used in operations for Q3 was $14.3 million; quarter-end liquidity was $214 million, with $35.3 million in cash and $178.7 million in marketable securities.
1.3 million Class A shares repurchased and canceled for $1.6 million during Q3.
Outlook and guidance
Full-year 2025 revenue guidance updated to $20–$25 million, reflecting UZ Energy's contribution.
Expectation to at least double or triple 2025 revenue in 2026, driven by ESS, drones, and materials supply.
Q4 earnings will provide a more definitive 2026 outlook, including SaaS, joint ventures, and commercial production for OEMs and drones.
Liquidity projected to end 2025 between $195–$200 million, with a CapEx-light model supporting growth.
Management expects continued operating losses as commercialization ramps, with sufficient liquidity for at least 12 months.
Hisun JV revenue contribution vs. MU SaaS
Explain ESS pack as Molecular Universe in box
Describe 'their own Molecular Universe' request
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Frequently asked questions
SES AI Corporation is a company focused on the development and commercialization of advanced battery technology, specifically next-generation lithium-metal batteries. The company's primary aim is to provide batteries with higher energy density, improved safety, and enhanced performance, targeting the electric vehicle (EV) market as a key area of application. SES AI's technology integrates proprietary materials and software to optimize battery performance and address the needs of EV manufacturers and other industries reliant on efficient energy storage solutions. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NYSE.
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