SES AI (SES) Q4 2024 Earnings Call February 25, 2025 05:00 PM ET Company Participants Kyle Pilkington - Chief Legal OfficerQichao Hu - Founder, Chairman & CEOJing Nealis - Chief Financial OfficerMark Shooter - Sr. Associate - Energy & Sustainability Equity Research Conference Call Participants Winnie Dong - AnalystBrian Gordon - Senior Research Analyst Operator Good afternoon. Thank you for attending today's SCSAI Fourth Quarter twenty twenty four Business and Financial Results. My name is Jaylen. I'll be y ...

Financial Results - SES AI Corporation reported preliminary unaudited revenue results for Q4 2024, with figures subject to finalization[4] - The financial information provided is preliminary and based on management's estimates as of the press release date[5] - The company emphasizes that preliminary estimates should not replace full financial statements prepared in accordance with GAAP[5]

Financial Data and Key Metrics Changes - In Q3 2024, the company's GAAP operating expenses were $34.2 million, with cash used in operations amounting to $22.7 million and capital expenditures at $1.5 million [18] - The company ended Q3 with $274 million in liquidity and updated its full-year 2024 guidance, expecting total cash usage to be between $80 million to $95 million, down from a previous estimate of $100 million to $120 million [19] Business Line Data and Key Metrics Changes - The company reported early commercial revenue in urban air mobility (UAM) and drones, having completed site acceptance tests for UAM lines and signed cell supply agreements, including with SoftBank [6][7] - The B-sample lithium metal cells successfully passed the GB38031 2020 safety tests, marking a significant milestone towards commercialization for electric vehicles (EV) [8][15] Market Data and Key Metrics Changes - The UAM market is growing rapidly, particularly in China, with the company tailoring its new cell product specifically for UAM applications, which includes both passenger and large cargo drones [38] - The lithium metal cells provided by the company offer a power density of 400 watts per kg, significantly higher than the 250 watts per kg of lithium-ion cells, enhancing flight duration and payload capacity [40] Company Strategy and Development Direction - The company is focused on the commercialization of next-generation lithium metal batteries and AI solutions, with an all-in strategy on AI to enhance battery material discovery and manufacturing processes [5][10] - The establishment of an electrolyte foundry and partnerships with NVIDIA are part of the strategy to leverage advanced computing for battery material development [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of AI to transform the battery industry, with expectations of entering a revenue pipeline from AI solutions in the near future [22][16] - The company anticipates strong interest from existing and new partners for its AI solutions, with contracts expected to be signed soon [34] Other Important Information - The company has achieved a 95% prediction accuracy with its AI for safety, and when integrated with AI for manufacturing, it can achieve 100% accuracy [14][16] - The company is also focused on reducing general and administrative spending while investing in talent and GPU resources to support its AI initiatives [30] Q&A Session Summary Question: What is the revenue mechanism for AI solutions? - The revenue model will include a combination of subscription fees for using the AI model and product revenue from new electrolyte products [22] Question: How will the company grow its customer base for AI solutions? - The company is working with three OEMs as initial customers and has been approached by top electrolyte and battery manufacturers for potential projects [25] Question: What is the revenue potential associated with UAM customers? - While specific details are confidential, the project with SoftBank will kick off in November and continue into the first half of next year, with potential revenue expected throughout 2025 [32] Question: How is the company addressing cycle life requirements for EV OEMs? - The company is working on new molecules that improve cycle life by about 20% and is also optimizing charging protocols using AI tools [42]

Cell Production OSES / A 117 on Al Al for Manufacturing Al for Safety Al for Science Letter to Our Shareholders Q2 2024 "Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart." Steve Jobs Dear Shareholders, In this special letter, I want to talk about the seismic shift across any industry by generative AI and large language models (LLMs). AI represents a pivotal development of ...

Financial Performance - As of June 30, 2024, the company has not generated any revenue from sales, incurring net losses of $19.9 million for the three months ended June 30, 2024, compared to $12.9 million for the same period in 2023[94]. - For the six months ended June 30, 2024, the company incurred a net loss of $35.5 million, compared to a net loss of $29.2 million for the same period in 2023[116][117]. - Total cash outflow for the six months ended June 30, 2024, was $30.9 million, a significant decrease from $55.2 million in 2023[113]. Research and Development - Research and development expenses increased by 137% to $15.1 million for the three months ended June 30, 2024, compared to $6.3 million for the same period in 2023[97]. - The company has spent $30.9 million on gross research and development activities for the six months ended June 30, 2024, compared to $26.3 million for the same period in 2023[94]. - The company has signed joint development agreements (JDAs) with major automakers, including Hyundai, to further research and develop B-sample batteries, with plans to transition to C-sample in 2026 and commercial production in 2027[83][91]. Operating Expenses - Total operating expenses for the three months ended June 30, 2024, were $24.6 million, an increase of 28% from $19.3 million in the same period in 2023[95]. - General and administrative expenses decreased by 26% to $9.6 million for the three months ended June 30, 2024, compared to $12.9 million for the same period in 2023[102]. - The company expects to sustain substantial operating expenses without generating sufficient revenues for several years due to the capital-intensive nature of its business[111]. Cash and Investments - Cash and cash equivalents as of June 30, 2024, totaled $54.8 million, with investments in marketable debt and equity securities amounting to $239.9 million[110]. - Net cash used in operating activities was $31.1 million for the six months ended June 30, 2024, compared to $30.9 million for the same period in 2023[116][117]. - The company reported a net cash provided by investing activities of $0.5 million for the six months ended June 30, 2024, compared to a net cash used of $23.8 million in 2023[118]. Environmental Initiatives - The company is executing initiatives to improve environmental sustainability, including dry electrode technology and Li-Metal recycling[89]. Other Financial Metrics - Interest income for the three months ended June 30, 2024, was $4.0 million, slightly down from $4.1 million for the same period in 2023[105]. - The provision for income taxes for the six months ended June 30, 2024, increased to $0.3 million, compared to $0.5 million for the same period in 2023[109]. - Miscellaneous income for the six months ended June 30, 2024, was $0.3 million, a decrease from $0.4 million in 2023[108]. - Capital expenditures for the six months ended June 30, 2024, were $10.5 million, an increase from $7.8 million in 2023, primarily for lab machinery and equipment[120]. - The company has total contractual obligations of $56.4 million as of June 30, 2024, including purchase obligations and operating lease obligations[122]. Technology Development - The Avatar AI prediction accuracy improved from less than 60% in 2022 to 92% in 2023, with a target of reaching 95% by the end of 2024[87]. - The company is converting one of its EV A-sample lines to UAM cell production by the end of 2024, aiming to enhance profitability for UAM operators[85].

SES AI Corporation (NYSE:SES) Q2 2024 Earnings Conference Call July 29, 2024 5:00 PM ET Company Participants Kyle Pilkington - Chief Legal Officer Qichao Hu - Chairman & Chief Executive Officer Jing Nealis - CFO Conference Call Participants Mark Shooter - William Blair & Company Shawn Severson - Water Tower Research Operator Good afternoon. Thank you for attending today's SES AI Second Quarter 2024 Business and Financial Results. My name is Cole, and I'll be the moderator for today's call. [Operator Instruc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 001-39845 88-0641865 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.0001 par value per share SES The New York Stock Exchange Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share SES WS The New York Stock Exchange FOR ...

Table of Contents SES AI Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ...

SES AI Corporation (NYSE:SES) Q1 2024 Earnings Conference Call May 3, 2024 9:00 AM ET Company Participants Kyle Pilkington - Chief Legal Officer Qichao Hu - Founder, Chairman and CEO Jing Nealis - CFO Conference Call Participants Mark Shooter - William Blair Shawn Severson - Water Tower Research Operator Good morning, all. I would like to welcome you all to the SES First Quarter 2024 Business and Financial Results Call. My name is Brica and I will be your moderator for today's call. All lines are on mute fo ...

Exhibit 99.1 Dear Shareholders, Our mission is to power a new era of electric transportation on land and in air with Li-Metal batteries. That new era became a lot more visible in the past few weeks as we reached two milestones that we believe no Li-Metal battery manufacturer has ever reached before. We're excited to talk about those achievements in more detail as we believe these milestones reinforce our lead in the race to commercialize our Li-Metal technology for both EV and UAM applications. We have talk ...