SES AI Corporation
NYSE:SES · New York Stock Exchange
+$0.01 today
Vol 13.63M · Avg 8.59M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:SES · Revenue to Net Income
Key Ratios
Analysis
$21.9M of revenue converted into -$72.7M of net income for the selected period. Gross margin is 38.5% and net margin is -372.5%, showing how much revenue survives after costs and taxes. EPS is $-0.22, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $21.0M +929.4% | $2.0M | $0 | $0 | $0 | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $9.7M +1189.0% | $752.0K | $0 | $0 | $0 | $725.6M | $804.0M | $882.4M |
| Gross Profit | $11.3M +777.9% | $1.3M | $0 | $0 | $0 | $8.9B | $7.6B | $6.2B |
| Gross Margin | 53.8% -9.3pp | 63.1% | — | — | — | 9.8% | 28.9% | 38.3% |
| Research & Development | $67.0M -7.1% | $72.1M +135.2% | $30.7M +9.7% | $28.0M +80.3% | $15.5M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $26.9M -30.0% | $38.4M -19.1% | $47.5M -8.0% | $51.6M +212.9% | $16.5M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $93.9M -15.0% | $110.5M +41.4% | $78.2M -1.8% | $79.6M +148.6% | $32.0M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $10.3M +23.9% | $8.3M +49.9% | $5.5M +113.4% | $2.6M +56.2% | $1.7M | $374.2M | $1.2B | $631.8M |
| EBITDA | -$62.5M +31.8% | -$91.7M -88.2% | -$48.7M -3.3% | -$47.1M -59.4% | -$29.6M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | -297.7% +4196.9pp | -4494.6% | — | — | — | 5.6% | 46.3% | 42.0% |
| Operating Income | -$82.6M +24.4% | -$109.2M -39.8% | -$78.2M +1.8% | -$79.6M -148.6% | -$32.0M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | -393.4% +4961.9pp | -5355.3% | — | — | — | 16.6% | 24.1% | 22.0% |
| Interest Income | $9.3M -37.9% | $15.0M -9.9% | $16.7M +169.3% | $6.2M +2398.4% | $248.0K | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $9.8M +6.0% | $9.3M -61.3% | $23.9M -19.9% | $29.8M +3744.7% | $776.0K | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$72.8M +27.2% | -$100.0M -84.3% | -$54.3M -9.1% | -$49.7M -59.3% | -$31.2M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -346.7% +4555.1pp | -4901.8% | — | — | — | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $231.0K +22.9% | $188.0K +122.0% | -$853.0K -168.0% | $1.3M +4920.0% | $25.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | -$73.0M +27.1% | -$100.2M -87.6% | -$53.4M -4.7% | -$51.0M -63.2% | -$31.3M | $4.9B | $4.8B | $4.7B |
| Net Margin | -347.8% +4563.2pp | -4911.0% | — | — | — | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$0 +29.0% | -$0 -82.4% | -$0 +5.6% | -$0 +64.7% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$0 +29.0% | -$0 -82.4% | -$0 +5.6% | -$0 +64.7% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $330.9M +2.8% | $321.8M +2.1% | $315.1M +9.3% | $288.3M +371.9% | $61.1M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $330.9M +2.8% | $321.8M +2.1% | $315.1M +9.3% | $288.3M +371.9% | $61.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Aeva Technologies, Inc.
NASDAQ:AEVA
$1.51B
Douglas Dynamics, Inc.
NYSE:PLOW
$1.14B
Sweetgreen, Inc.
NYSE:SG
$1.07B
American Axle & Manufacturing Holdings, Inc.
AXL
$1.02B
Standard Motor Products, Inc.
NYSE:SMP
$875.39M
Fox Factory Holding Corp.
NASDAQ:FOXF
$788.40M
LuxExperience B.V.
NYSE:LUXE
$761.44M
Hovnanian Enterprises, Inc.
NYSE:HOV
$673.67M
Camping World Holdings, Inc.
NYSE:CWH
$489.42M
ECARX Holdings, Inc.
NASDAQ:ECX
$361.91M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does SES generate?
SES AI Corporation (SES) reported $21.00M of revenue in fiscal 2025.
Is SES profitable?
SES AI Corporation (SES) reported -$73,040,000.00 of net income, with a net margin of -347.8%.
Explore More
Continue the stock analysis
Jump to another research area for this company.