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SES AI SES Gross margin

Gross margin at other companies

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Enovix CorporationENVX
21.5%
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24.1%-1.7pp
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Microvast Holdings, Inc.MVST
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KULR Technology GroupKULR
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American Battery Technology CompanyABAT
-42.7%-20.5pp
Albemarle logo
AlbemarleALB
23.8%+16.1pp

Other financials

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

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Market cap$196.38M-51.2%
Enterprise value$139.39M-65.1%
P/S8.4×-30.5×

Profitability

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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×

Where this comes from

Calculated from SES AI’s reported figures.

Based on trailing twelve months.

The source filing: SES AI’s 10-Q, filed August 11, 2026. Open the filing →

Filed
Aug 11, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001819142-26-000045

FAQ

What is SES AI's gross margin?
SES AI (SES) reported gross margin of 27.8% in Q2 2026.
How has SES AI's gross margin changed year-over-year?
SES AI's gross margin decreased by 63.2% year-over-year, from 75.4% to 27.8%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

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