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How SES AI (SES) makes money

SES AI (SES) made $5.1M of revenue in the second quarter 2026 (Q2 2026), +44% from a year earlier. Product brought in $5.1M (100%); Service brought in $7K (0%).

Drawing the Sankey…

SES AI revenue by segment, Q2 2026SES AI revenue by segment, Q2 2026Product$5.1MService$7K
SES AI: revenue by line, Q4 2025 to Q2 2026SES AI: revenue by line, Q4 2025 to Q2 2026ProductServiceProduct: $5.1M latest$5.1MService: $7K latestQ4 2025Q1 2026Q2 2026
Service went from 8% of revenue in Q4 2025 to 0% in Q2 2026, the largest shift in the mix.
SES AI revenue by quarterSES AI revenue by quarter$5.8MQ1 2025$3.5MQ2 2025$7.1MQ3 2025$4.6MQ4 2025$6.7MQ1 2026$5.1MQ2 2026
SES AI: where each dollar of revenue goesSES AI: where each dollar of revenue goesIncome tax3¢

Revenue by segment, Q2 2026

SegmentRevenueShareQ/QY/Y
Product$5.1M99.9%-21%—
Service$7K0.1%-97%-100%

Where each dollar of revenue goes

LineQ2 2026% of revenue
Revenue$5.1M100.0%
Income tax$132K2.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 2026$5.1M+44%
Q1 2026$6.7M+16%
Q4 2025$4.6M—
Q3 2025$7.1M—
Q2 2025$3.5M—
Q1 2025$5.8M—

From SES AI's 10-Q filed Aug 11, 2026 (on EDGAR).

Questions

How does SES AI make money?

SES AI (SES) made $5.1M of revenue in the second quarter 2026 (Q2 2026), +44% from a year earlier. Product brought in $5.1M (100%); Service brought in $7K (0%).

What is SES AI's biggest business?

Product: $5.1M in the second quarter 2026, 100% of revenue.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.