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SES AI SES Q2 2026 earnings

Reported August 11, 2026 · After market close

Revenue$5.1MMiss by $500.0K
EPS-$0.04Beat by $0.00
Revenue estimate$5.6M
EPS estimate-$0.04
SES is solving two of the most difficult challenges in energy storage – accelerating product development using AI4Materials and building a robust supply chain to manufacture these products. In the second quarter, we began seeing significant commercial milestones, and we are very excited about the path we are on. For ESS, this is our largest revenue generating unit. We are making great progress especially in the US market, we were selected by Sol-Ark as a certified battery partner, and we brought on Paul Diemer, ex-CTO of Flex Power, to our board to help guide our ESS strategy. We continue to hire a stellar team with backgrounds in leading AI data center total solutions providers to execute on and deliver our exciting ESS growth.
Dr. Qichao Hu

Next report

Nov 11, 2026 (in 2 months)
Revenue estimate$7.2M
EPS estimate-$0.04

Financials

Q2 2026

Income statement

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Revenue$5.1M+43.8%
Gross profit$1.1M-55.9%
Operating income-$19.2M+16.6%
Net income-$17.9M+21.0%
EPS (diluted)-$0.05+28.6%

Balance sheet

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Cash & equivalents$64.1M+446%
Total debt$7.1M-23.2%
Total equity$187.1M-24.9%
Total assets$236.2M-18.7%

Cash flow

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Operating cash flow-$13.8M-27.8%
CapEx$656.0K-18.4%
Free cash flow-$14.5M-24.6%

Valuation & ratios

Valuation

as of 09/17/26
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Market cap$215.5M-54.6%
Enterprise value$158.5M-66.4%
P/S9.2×-36.7×

Profitability

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Gross margin27.8%-47.7pp
Operating margin-312.8%-129pp
Net margin-289.6%-119pp
FCF margin-257.7%-99.7pp

Returns & leverage

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Return on equity-31.2%-2.7pp
Debt / equity0.0×
Current ratio6.5×-5.9×

Segments

By product

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Service$7.0K-99.8%

FAQ

When did SES AI report Q2 2026 earnings?
SES AI (SES) reported Q2 2026 earnings on August 11, 2026 after market close.
What were SES AI's Q2 2026 revenue and EPS?
SES AI reported revenue of $5.1M and eps of $-0.04 for Q2 2026.
Did SES AI beat estimates in Q2 2026?
Revenue missed the consensus estimate of $5.6M by $500.0K. EPS beat the consensus estimate of $-0.04 by $0.00.
How did SES AI's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 44.6% from $3.5M a year earlier and eps grew 42.9% from $-0.07.
Where can I find SES AI's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001819142-26-000044) and the 10-Q periodic report (0001819142-26-000045) directly on SEC EDGAR. The filing index links above go to sec.gov.