SES AI Reports Q3 2026 Revenue Growth Amid Strategic Shift Toward Drone Battery Market
SES AI (SES) reported third-quarter revenue of $6.6 million, a 31% increase from the previous quarter, driven primarily by demand in energy storage and materials. While total revenue grew, GAAP gross margins fell to 4.9% due to the strategic liquidation of older energy storage hardware inventory at lower prices to prepare for new product launches. The company is aggressively pivoting toward the drone and unmanned systems sector, having reached a production capacity of 1 million NDAA-compliant cells per year at its Chungju facility. Management aims to expand this capacity to 3 million cells annually by mid-2027. Despite a GAAP net loss of $13.4 million, the company narrowed its losses compared to Q2 and maintains a strong liquidity position with $137 million in cash and zero debt.
Topics: energy storage liquidity net loss narrowing revenue growth share buybacks