SES AI (NYSE:SES) FY Conference Summary Company Overview - **Company**: SES AI - **Industry**: Battery Technology - **Focus**: Accelerating energy transition through AI, specializing in lithium metal battery chemistry and energy storage solutions Key Points Industry and Market Insights - The energy storage system (ESS) market is projected to be over **10 times** the size of the electric vehicle (EV) market [2][3] - The battery markets for ESS and drones are expected to experience significant growth [3] - The company is uniquely positioned due to over a decade of experience in battery technology and AI integration [2] Financial Performance - In the first three quarters of 2025, SES AI reported a revenue of **$16.4 million** and provided guidance of **$22.5 million** for the full year [3] - The company anticipates doubling its revenue in 2026 compared to 2025 [34] Product Development and Innovations - SES AI has developed a platform called **Molecular Universe**, which focuses on material discovery and battery health management [3][6] - The company has made **six breakthroughs** in battery materials, enhancing performance for various applications including EVs, drones, and consumer electronics [8][9] - The company has established three business units focusing on ESS, drones, and materials to drive revenue generation [6][12] Strategic Partnerships and Acquisitions - SES AI acquired **UZ**, a company with strong hardware capabilities, to enhance its ESS offerings [7][18] - The partnership with **HySun** aims to commercialize materials discovered through Molecular Universe [9][27] Market Opportunities - The company sees military drones and data centers as the most exciting market opportunities [13][14] - SES AI is focusing on **NDAA-compliant** cells, which are priced **2 to 3 times** higher than non-compliant cells [15][16] - The company is targeting about **100 key accounts** for NDAA-compliant cells, focusing on larger clients rather than numerous small accounts [16] Technology and Competitive Advantage - SES AI's **Molecular Universe** is the first AI for science platform that has made actual breakthroughs in material discovery, unlike other platforms that are still in development [9][11] - The company emphasizes the importance of having a combination of model, data, and domain expertise to succeed in the AI for science space [11] Future Outlook - SES AI aims to create a closed-loop system integrating hardware and software solutions for data centers and commercial applications [17][18] - The company plans to leverage its software for recurring revenue through updates and maintenance subscriptions [23] - SES AI is confident in its ability to achieve break-even cash flow within the next **one to two years** [34] Conclusion - The battery industry is undergoing a significant transition, with SES AI focusing on ESS, drones, and materials as key growth areas [34] - The integration of AI with battery technology presents a unique opportunity for SES AI to capitalize on emerging market trends and drive innovation in energy storage solutions [34]

Group 1 - The article discusses the Amplify Lithium & Battery Technology ETF (BATT) and its relevance in the current investment climate, highlighting the author's long-term experience in investment analysis and management [1] - The author emphasizes the importance of understanding market narratives and teaches subscribers how to interpret these stories for better investment decisions [1] Group 2 - There are no stock or derivative positions held by the author in any mentioned companies, nor are there plans to initiate such positions in the near future [2] - The article reflects the author's personal opinions and is not influenced by any business relationships with the companies discussed [2]

Core Insights - Solid Power (SLDP) is progressing towards commercialization, which is a primary reason for continued investment in the company despite an 18% decline in stock price since early October [1] Company Overview - Solid Power is recognized as a pioneer in solid-state battery technology, indicating its innovative position within the battery industry [1] Investment Perspective - The investment philosophy emphasizes thorough research and a long-term perspective, focusing on uncovering promising stocks that may not yet be widely recognized in the market [1]

Core Viewpoint - SES AI is a high-risk, high-reward investment opportunity in the battery-focused AI sector, with potential for significant growth but also facing substantial challenges [1]. Group 1: Company Overview - SES AI specializes in leveraging AI to enhance the discovery, development, and manufacturing of lithium-metal batteries, applicable in various sectors such as transportation, storage, robotics, and drones [2]. - The company has launched a service platform called Molecular Universe, aimed at accelerating the discovery and evolution of battery materials across industries [3]. Group 2: Financial Performance - SES AI has increased its revenue guidance for 2025 to between $20 million and $25 million, indicating positive growth prospects [3]. - In the third quarter of 2025, SES AI generated $7.1 million in revenue but reported a net loss of $20.9 million, highlighting a significant cash-burn rate [5]. - The company has $214 million in liquidity, but its operating expenses exceeded $75 million in the first nine months of 2025, raising concerns about sustainability [5]. Group 3: Market Potential - The total addressable market for battery innovations is projected to exceed $500 billion by the early 2030s, presenting a substantial opportunity for SES AI [4][7]. - The battery innovation market is forecasted to surpass $500 billion by 2030, indicating a growing demand for advanced battery technologies [7]. Group 4: Investment Considerations - SES AI's stock performance is highly influenced by market sentiment towards AI, remaining relatively flat over the past year with notable volatility [6]. - For investors with a higher risk tolerance, investing in SES AI could be considered a speculative opportunity, while more conservative investors may prefer established tech companies [6].

Core Insights - The battery supply chain has delivered exceptional returns in 2025, outperforming the focus on artificial intelligence, particularly benefiting electric vehicles and grid storage [1] Group 1: Performance Overview - The Amplify Lithium & Battery Technology ETF (BATT) returned 66% year-to-date in 2025, significantly outperforming the Nasdaq-100's 22% gain [2][3] - Battery materials outperformed finished vehicles, with Albemarle surging 78% and Freeport-McMoRan jumping 41%, while Tesla gained only 18% [3][6] Group 2: Investment Strategy - BATT's strategy involves diversified exposure across the entire battery ecosystem, including lithium miners, copper producers, battery component manufacturers, and select EV companies [2][5] - The top holdings include BHP Group (7.25%), Contemporary Amperex Technology (CATL) (6.72%), Tesla (6.35%), and BYD (4.79%), focusing on the picks-and-shovels opportunity rather than individual automakers [5] Group 3: Market Dynamics - The ETF's performance is driven by rising demand for battery materials due to accelerating EV adoption and a commodity supercycle benefiting lithium and copper producers [8] - The fund has a 74% international exposure, particularly to Asian battery manufacturers like CATL and Samsung SDI, capturing growth in the largest EV markets [8] Group 4: Fund Characteristics - BATT serves investors seeking thematic exposure to electrification while minimizing individual stock volatility, with a reasonable expense ratio of 0.59% [7] - The fund's $90.8 million asset base allows for nimbleness in accessing smaller opportunities while maintaining adequate liquidity [7]

Core Viewpoint - The company has officially changed its name to Nuclear Diamond Batteries, Inc. following the acquisition of a controlling interest in Atomiq, Inc., which holds a nuclear diamond battery patent portfolio [1][2] Group 1: Corporate Name Change - The corporate name change has been processed by FINRA and is now reflected in OTC Markets as of December 29, 2025, with trading continuing under the ticker symbol WEDG [1] - The new name aligns with the company's strategic direction and branding transition after acquiring Atomiq, Inc. [2] Group 2: Business Strategy and Technology - The company is not merely rebranding but is aligning its public identity with the assets acquired and the development roadmap being established [3] - The transition signifies the company's commitment to advancing solid-state, ultra-long-duration energy systems through Atomiq's technology, positioning it for next-generation clean energy applications [3] Group 3: Product Development - Nuclear Diamond Batteries, Inc. is developing "never charge" nuclear diamond battery systems based on betavoltaic energy conversion, which utilize radioactive decay within engineered diamond semiconductor structures [4] - These micro power sources are designed to deliver controlled electrical output for years to decades without maintenance or recharging, targeting applications in aerospace, robotics, defense, medical implants, IoT, industrial monitoring, and space [4]

Group 1 - Enovix Corporation (NASDAQ:ENVX) is recognized as one of the 10 Best EV Stocks to Buy heading into 2026 [1] - Northland analyst Gus Richard has reduced Enovix's price objective from $25 to $16 while maintaining an Outperform rating due to slower-than-expected growth in mobile phone revenue [2] - The company raised over $500 million in the third quarter, but Northland described the delay in mobile phone ramp as "disappointing" and revised its financial outlook accordingly [3] Group 2 - In the most recent quarter, Enovix reported an 85% year-over-year increase in revenue to $8 million, with a non-GAAP gross profit of $1.7 million, reflecting a 21% margin [4] - As of the end of the third quarter of 2025, Enovix had $648 million in cash and marketable securities [4] - Enovix is focused on commercializing the AI-1, the world's first consumer-ready 100% active silicon battery [5]

Core Viewpoint - Dragonfly Energy Holdings Corp. will implement a 1-for-10 reverse stock split effective December 18, 2025, to maintain Nasdaq compliance and support future growth [1][4]. Summary by Sections Reverse Stock Split Details - The reverse stock split will convert every ten pre-split shares into one share, maintaining the par value at $0.0001 per share [2]. - The total number of outstanding shares will decrease from approximately 120.8 million to about 12.1 million [3]. Company Strategy and Financial Position - The reverse stock split is part of a strategy to enhance the company's financial foundation, following recent capital raises and debt restructuring that improved liquidity [4]. - The company aims to scale revenue, deepen strategic partnerships, and invest in advanced battery technologies for long-term value creation [4]. Shareholder Approval and Implementation - The reverse stock split was approved by a majority of shareholders at the Annual Meeting on October 15, 2025, with the board deciding on a 1-for-10 ratio on December 2, 2025 [4]. Company Overview - Dragonfly Energy specializes in lithium battery technology, including cell manufacturing and battery pack assembly, and is recognized for its Battle Born Batteries® brand [6]. - The company focuses on domestic lithium battery cell production and aims to develop nonflammable, all-solid-state battery cells for various applications [6].

Core Insights - Nano One Materials Corp. has received reimbursement payments totaling US$2,841,863 from the U.S. Government for expenses incurred in Q2 and Q3 2025 [2][6] - The company raised C$6,958,700 in gross proceeds from an overnight marketed financing, which will help extend its operational runway into 2027 [3][6] - The company is positioned to leverage approximately C$26 million in future reimbursements from government funding programs in Québec and the U.S. [3][6] Financial Summary - Total reimbursements received from government support programs amount to US$2.84 million (C$3.95 million) [6] - The gross proceeds raised from financing that closed on December 10, 2025, are C$6.96 million [6] - Remaining government reimbursements expected for the 2026-27 period total C$25.8 million [6] Strategic Positioning - Nano One's One-Pot™ lithium iron phosphate (LFP) processing technology aligns with North America's emerging battery supply chain and regional industrial development strategies [4] - The company is focusing on capacity expansion, revenue generation, and production through strategic partnerships, which include collaborations with international companies like Sumitomo Metal Mining and Rio Tinto [5][4] - The U.S. National Defense Authorization Act (NDAA) and the G7 Critical Minerals Action Plan are influencing the company's operational strategies by promoting domestic sourcing of battery components [4]

Core Insights - Electrovaya (ELVA) is showing signs of profitability, indicating a potential new upward trajectory for the company [1] Group 1: Company Performance - Sustained profitability is highlighted as a key driver of returns, characterized by strong margins, stable and expanding free cash flow, and high returns on invested capital [1] - The company is positioned within a long-term investment strategy focused on undervalued growth stocks and high-quality dividend growers [1] Group 2: Investment Strategy - The investment approach emphasizes the importance of profitability over valuation alone, suggesting a more reliable basis for investment decisions [1] - The management of portfolios is conducted publicly on eToro, allowing for real-time investment decisions to be copied by others [1]