SES AI reports FY2023 net loss of $53.4M; enters B-sample JDA for Li-Metal batteries

SES AI Corp

2023-FY EPS reported -$0.17

Q4 2023 net loss $10.75M ($0.03 loss per share); full year net loss $53.4M vs $50.99M in 2022.
Operating expenses FY2023 $78.2M; cash used in operations $56.4M, capex $15.8M.
Ended 2023 with $332M liquidity; expects 2024 operating cash use $90-100M, capex $20-30M.
Signed world's first automotive B-sample JDA for Li-Metal with major automaker.
Avatar AI incident prediction accuracy improved to 92% in 2023; targeting 95% in 2024.

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 0.9

SES AI Corp reported financial results for the fiscal quarter and fiscal year ended December 31, 2023.

Period: the fiscal quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 26, 2024, 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 and fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001819142-24-000011

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