SES AI reports Q3 operating loss of $21.7M; lowers 2022 cash usage guidance to $75-85M

SES AI Corp

2022-Q3 EPS reported -$0.15

Q3 2022 operating loss of $21.7M (up $11.0M YoY); net loss $0.08 per fully diluted share.
Cash and equivalents $394.7M; expects to end 2022 with >$350M cash.
Full-year 2022 cash usage guidance reduced to $75-85M from prior $95-115M; capex now $20-25M.
SES Korea pilot facility completed; Shanghai Giga operational; produced >1,000 large-format cells.
50 Ah cells received UN38.3 and IATF16949 certifications; data shared with GM, Hyundai, Honda.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

SES AI Corp reported financial results for fiscal quarter ended September 30, 2022.

Period: fiscal quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 9, 2022, SES AI Corporation (the “Company”) released a letter to its shareholders, which includes a business update and the Company’s financial results for the fiscal quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001558370-22-017175

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