Filing Flows › SES AI (SES) › Q4 2025
SES AI (SES) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
SES AI (SES) reported revenue of $4.6M for the fourth quarter 2025 (Q4 2025) and -36% from the quarter before. Operating margin was -387.7%, net loss $17.0M (373.5% of revenue).
SES AI, Q4 2025: revenue $4.6M, operating margin -387.7%, net loss $17.0M, operating cash flow −$10.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6M | -36% | — |
| Operating profit | −$17.7M | — | — |
| Net earnings | −$17.0M | — | — |
| Operating cash flow | −$10.4M | — | — |
What changed
Revenue was $4.6M in Q4 2025, down 36% from the previous quarter. Product was the largest line at 92% of revenue.
Gross margin was 11.3%. Operating costs exceeded revenue by $17.7M, an operating margin of -387.7%. The quarter ended with a net loss of $17.0M, narrower than the previous quarter's $20.9M loss.
Operating cash flow was −$10.4M. Non-cash charges added back $2.6M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $1.9M. Capital expenditures of $712K exceeded it, leaving free cash flow of −$11.1M.
Questions
What was SES AI's revenue in the fourth quarter 2025?
SES AI (SES) reported revenue of $4.6M for the fourth quarter 2025 (Q4 2025) and -36% from the quarter before.
Was SES AI profitable in the fourth quarter 2025?
Operating loss was $17.7M (-387.7% of revenue) and net loss $17.0M.
Source: SES AI 10-K on SEC EDGAR.