SES AI Corp (SES) Form 8-K — Aug 11, 2026

$SESForm 8-KItems 2.02, 5.02, 9.01Filed Aug 11, 2026, 4:10 PM ET0001819142-26-000044Original filing

SES AI reported Q2 2026 revenue of $5.1 million, up more than 40% year over year from $3.5 million, with GAAP gross margin improving to 22.6% from 18.1% in Q1 2026. The company reaffirmed its full-year 2026 revenue guidance of $30 million to $35 million and, for the first time, recorded revenue across all product lines: ESS, drone battery cells, materials, and Molecular Universe. Profitability remains distant. GAAP net loss widened sequentially to $17.8 million ($0.05 per share) from $12.1 million in Q1, driven by a bad-debt provision on a legacy EV service contract and a non-cash sponsor earn-out adjustment, while adjusted EBITDA loss was $14.6 million.

Key figures

Revenue: 5072000
Guidance: FY2026 revenue reaffirmed at $30 million to $35 million; blended gross margin expected at approximately 15%
Revenue Yoy: >40% YoY ($5.1M vs $3.5M in Q2 2025)
Cash Position: approximately $163 million (cash, cash equivalents and short-term investments)
Shares Outstanding: 327,266,996 Class A and 43,881,251 Class B shares as of June 30, 2026
Total Assets: 236213000
Total Equity: 187061000
Revenue Q1 2026: $6.7 million (sequential decline)
Atg Epower Agreement: $20 million three-year agreement (announced prior quarter)
Gross Margin Q1 2026: 18.1%
Warrant Exercise Price: 11.5
Non Gaap Net Loss Q2 2026: -$13.1 million (-$0.04 per share)
Korea Drone Cell Capacity: scaling from 200,000 to 1 million NDAA-compliant cells/year, full capacity from Q4 2026
Gross Margin Q2 2026 gaap: 22.6% (press release headline cites 22.3%)
H1 2026 Operating Cash Use: -$33.6 million
Materials Revenue Q2 2026: $1.2 million
Adjusted Ebitda Loss Q2 2026: -$14.6 million
Gaap Operating Expenses Q2 2026: $20.3 million, down 26% YoY

Price after filing

1 day: -5.4%7 days: -5.5%30 days: -7.5%

Close on the filing date to close N calendar days later (from $0.56). Historical, not a forecast.

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