SES AI Q1 loss $15.6M, affirms guidance; secures two B-sample JDAs, first Li-Metal line at Hyundai

SES AI Corp

2024-Q1 EPS reported -$0.05

Net loss $15.6M ($0.05/sh); operating expenses $21.3M; cash used $9.0M; capex $6.8M.
FY2024 guidance affirmed: cash from ops $90-100M, capex $20-30M; liquidity $319M.
First Li-Metal battery co with two B-sample JDAs; building line inside Hyundai's facility (Q4 2024).
Avatar AI prediction accuracy 92% (2022:60%); target 95% by year end 2024.
UAM line conversion by Sep 2024; sampling deals with top five UAM OEMs.

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 ended March 31, 2024.

Period: the fiscal quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 2, 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 ended March 31, 2024.

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SES AI Corp filing history →

Source: SEC EDGAR

accession 0001819142-24-000022

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