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SES AI SES Operating Income

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Other financials

Income statement

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Revenue$5.1M+43.8%
Gross profit$1.1M-55.9%
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$207.57M-48.4%
Enterprise value$150.58M-62.3%
P/S8.9×-30.1×

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×

Where this comes from

Reported directly by SES AI in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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

Filed
Aug 11, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001819142-26-000045
(in thousands, except share and per share amounts)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Research and development11,36219,08722,39339,597
General and administrative8,9816,52017,03413,840
Total operating expenses20,34325,60739,42753,437
Loss from operations(19,196)(23,007)(37,065)(46,280)
Other income:
Gain (Loss) on change in fair value of Sponsor Earn-Out liabilities16(1,443)4,2246,436
Interest income1,4702,3673,1665,037
Miscellaneous (expense) income, net(63)100218396

Item 1. Financial Statements

FAQ

What is SES AI's operating income?
SES AI (SES) reported operating income of -$19.2M in Q2 2026.
How has SES AI's operating income changed year-over-year?
SES AI's operating income increased by 16.6% year-over-year, from -$23.01M to -$19.2M.
What is the long-term trend for SES AI's operating income?
Over 4 years (2021 to 2025), SES AI's operating income has grown at a 26.9% compound annual growth rate (CAGR), from -$31.85M to -$82.61M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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