SES AI (SES) Provides Preliminary Fourth Quarter 2024 Revenue and Liquidity Results

SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, today announced preliminary unaudited revenue results and expected liquidity for the fourth quarter ended December 31, 2024.

Based on this month’s announcement of contracts with SES AI’s OEM partners for the commercial application of AI for Science for battery material discovery and the purchase order for AI-enhanced Li-Metal and Li-ion batteries for drone applications, the Company expects to report fourth quarter revenue earlier than it originally anticipated and in the range of $1.5 million to $2.0 million. In addition, the Company anticipates that its work during the quarter to reduce expenses should result in 2024 year-end liquidity (consisting of cash and cash equivalents and short-term investments) in the range of $260 million to $265 million and no debt outstanding.

SES AI also announced that it will release its 2024 fourth quarter and full year business results as well as its initial full year 2025 guidance outlook after market close on Tuesday, February 25, 2025, and hold a conference call on Tuesday, February 25, 2025, at 5:00 p.m. ET. The 2025 guidance is expected to include the Company’s initial outlook on projected 2025 revenue, which will be based on the contracts referenced above and the recent announcement on new battery energy storage system opportunities among others, as well as an updated outlook for operating and capital expenditures.

A webcast of the live conference call will be available through SES’s Investor Relations website, https://investors.ses.ai. The following link can be used to register in advance for the call: https://events.q4inc.com/attendee/260841479 and the following link can be used by investors to submit questions in advance of the call by Friday, February 21, 2025 at 11:00 p.m. ET.

The conference call can also be accessed live over the phone by dialing the following numbers:
United States (Toll Free): +1 833-470-1428
International: +1 404-975-4839
https://events.q4inc.com/attendee/260841479

Access Code: 465136

A webcast replay will be available shortly after the call at:
https://investors.ses.ai/events-and-presentations/events/default.aspx

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