SES AI Q4 2022 net loss $0.03; 2022 cash ops $46.5M below guidance; 2023 cash usage guided $130-170M

SES AI Corp

Q4 operating expenses $20.7M (R&D $8.3M, G&A $12.4M); non-cash gain $9.0M from sponsor earn-out liability.
Full-year 2022 cash from ops $46.5M and capex $14.7M, both below prior guidance of $55-60M and $20-25M.
Cash and short-term investments $390M at Dec 31, 2022; company says sufficient to reach commercialization.
2023 guidance: cash ops $80-100M, capex $50-70M, total cash usage $130-170M; plans to double/triple headcount and hire CMO.
Transitioning from A-sample to B-sample lines in 2023; Avatar accuracy on 100Ah cells >60% (vs 0% at start of 2022).

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