SES AI announces 'All-in on AI' strategy; Q2 net loss $19.9M; lowers FY cash guidance to $100-120M

SES AI Corp

Q2 GAAP operating expenses $24.6M, net loss $19.9M ($0.06/share); cash used in ops $22.1M, capex $3.7M.
Ended Q2 with $294.7M liquidity; updated FY cash usage guidance lowered to $100-120M (from $110-130M).
AI for Safety model predicted 100% of >40 battery incidents 10-30 cycles early; pre-trained on 15,000 Li-Metal cells.
UAM battery lines to start production in October; cell testing agreements signed; Hyundai B-sample line on track for Q4 2024.
Introduced Molecular Universe initiative to map molecular properties; Electrolyte Foundry operational since April 2024.

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