SES AI Corp (SES)
NYSEConsumer DiscretionaryAuto - PartsSnapshot 2026-09-04
$0.50-0.75%
Close 2026-09-04 · 1-day change
NYSEConsumer DiscretionaryAuto - PartsSnapshot 2026-09-04
QuarterlyIQ Insights · SES
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Reaffirm full-year 2026 revenue guidance of $30 million to $35 million, driven by growth in Energy Storage Systems, drone cells, materials, and Molecular Universe.
Stated as a priority in 3 quarters including 2025-Q4, 2026-Q1, and 2026-Q2. Revenue was $6.7M in 2026-Q1 and $5.1M in 2026-Q2, below Q1 but above 2025-Q2's $3.5M. Management consistently reaffirmed full-year 2026 revenue guidance of $30M to $35M. The trajectory shows stable commitment with mixed quarterly revenue but consistent guidance reaffirmation.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Consumer Discretionary names rated weak grew net income 56% of the time over the next year (vs 53% for the rest of the cohort, n=5213).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“We are reaffirming our 2026 revenue guidance of $30 million to $35 million.”
“We are also reaffirming our full year 2026 revenue guidance of $30 million to $35 million.”
“FY 2026 revenue projected to be in a range of $30 million to $35 million.”
Continue cost optimization to reduce operating expenses approximately 15% from 2025 levels and improve operating income.
Stated as a priority in 3 quarters including 2025-Q4, 2026-Q1, and 2026-Q2. GAAP operating expenses declined from $27.8M in 2025-Q1 to $19.1M in 2026-Q1 but increased slightly to $20.3M in 2026-Q2. Management remains confident in delivering a 15%+ reduction from 2025 levels. The trajectory shows progress with some fluctuation but overall cost reduction delivering.
“We remain confident in our ability to sustain an operating expense reduction of more than 20% year over year.”
“We remain on track to deliver approximately 15% reduction in full-year operating expenses from 2025 levels.”
“We have made progress in optimizing our cost structure and improving operating income.”
Grow ESS revenue through global expansion, new contracts, and integration of AI-driven predictive capabilities.
Stated as a priority in 2 quarters: 2026-Q1 and 2026-Q2. ESS is the largest near-term revenue driver contributing to total revenues of $6.7M in Q1 and $5.1M in Q2 2026. Management highlighted a $20M multiyear contract with ATG EPower to expand US market presence. The trajectory shows delivering commercial traction and geographic expansion.
“ESS is making great progress, especially in the US market, with certification by Sol-Ark and strong distribution partnerships.”
“We announced a $20 million, three-year agreement with ATG EPower to expand ESS in the US.”
Complete scale-up of Korea-based NDAA-compliant drone cell manufacturing to 1 million cells annually and convert qualification pipeline into commercial orders.
Stated as a priority in 2 quarters: 2026-Q1 and 2026-Q2. Management reported conversion of manufacturing line and plans to ramp to 1 million NDAA-compliant drone cells annually starting Q4 2026. Customer interest is strong with qualification pipeline progressing. The trajectory is delivering on manufacturing scale-up and market readiness.
“Expect to start producing at full capacity of 1 million NDAA-compliant cells a year starting in Q4 this year.”
“Converted manufacturing line to drone-format pouch cells with plans to ramp to over one million cells annually.”
Develop and commercialize Molecular Universe platform with new versions and enterprise deployments, converting pipeline into commercial supply agreements.
Stated as a priority in 2 quarters: 2026-Q1 and 2026-Q2. Management released version 2.5 and 3.0 of the Molecular Universe platform, secured a multiyear subscription, and expects first commercial supply agreements in second half 2026. The trajectory shows progress in platform development and early commercial validation.
“Released MU-3.0, sold Search-in-a-Box module, and expect to close first commercial supply agreement in second half of 2026.”
“Molecular Universe platform matured with version 2.5 and secured multiyear subscription with a major battery manufacturer.”
Over the trailing year it converted 1.26x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, Fed net liquidity, real (inflation-adjusted) rates, long-term interest rates (low R² over the window).
13 material management or governance events in the past 24 months, led by legal/regulatory items. Historically, Consumer Discretionary names rated volatile grew net income 59% of the time over the next year (vs 48% for the rest of the cohort, n=1937).
Not investment advice. As of 2026-09-04.