SES AI Corporation (NYSE:SES) shares are trading higher Friday after the company reported better-than-expected first-quarter financial results.
- SES AI stock is showing exceptional strength. Why is SES stock surging?
Q1 Performance, New Deal and Leadership Change
SES reported an adjusted loss of 3 cents per share, beating the consensus estimate of a 4 cent-loss. In addition, it reported revenue of $6.70 million, beating the consensus estimate of $3.65 million, and marking a 47% increase from the fourth-quarter of 2025.
"We continued to build on the positive momentum we created in 2025 with a strong start to 2026," said CEO Qichao Hu.
The company announced a $20 million multiyear distribution agreement with ATG EPower to expand its energy storage systems business in North America and reaffirmed its full-year 2026 revenue guidance of $30 million to $35 million.
SES said it completed the conversion of its manufacturing line in Chungju, South Korea, to drone-format pouch cells, ramping up to an annual production capacity of approximately one million cells, and has begun shipping sample cells to prospective defense and commercial drone customers.
The company maintained a strong liquidity position with approximately $178 million.
SES also announced that Chief Financial Officer Jing Nealis will step down effective April 27, with Yi (Ray) Liu appointed as her successor.
SES Shares Rise
SES Price Action: At the time of publication, SES shares are trading 10.62% higher at $1.35, according to data from Benzinga Pro.
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