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SES AI Reports Q4 Results, Shares Volatile
Mar 15, 2023 10:20 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
SES AI Corporation (NYSE:SES) shares jumped nearly 10% on Tuesday after the company reported its Q4 results, however, it was followed by today’s 7% decline in the share price.
The company reported mixed Q4 results and more importantly provided an operational update as it continues to progress with its A-sample cell production and moving toward its target of reaching B-sample production and delivery by mid-year. Having achieved ready-to-use status for its three Asamplelines ahead of schedule last year, the company believes it is now on track to transition to B-sample development with its OEM partners this year.
The company has made meaningful progress in addressing the various quality issues with its A-sample 100Ah cells, and plans to leverage its learnings to enable a smoother ramp process as it enters B-sample development with improved volume, speed, and quality. Overall, the company is progressing on track thus far, and management also reiterated that the current cash in hand is sufficient to take it to commercialization.
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