SES AI Q4/FY2025: Revenue $21M (10x YoY), GAAP net loss narrows to $73M; 2026 guidance $30-35M

SES AI Corp

FY2025 revenue of $21.0M, up from $2.0M in FY2024; Q4 revenue $4.6M, up 124% YoY.
GAAP net loss for FY2025 was $73.0M ($0.22 loss per share), improved from $100.2M ($0.31) in 2024.
Non-GAAP net loss of $53.2M ($0.16 per share) vs $66.4M ($0.21) in 2024; Adjusted EBITDA loss $62.6M vs $81.5M.
Ended FY2025 with $200M liquidity; FY2026 revenue guidance $30-35M (43-67% growth).
ESS unit (UZ Energy) signed a $20M distributor contract; drone cell line conversion underway; six material breakthroughs tested by 40+ customers.

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