SES AI Posts $12M Loss, Eyes $1M eVTOL Deal

Forward-Looking Analysis

Based on the provided news summaries, there is no specific earnings forecast, revenue projection, net income estimate, or EPS prediction available for SES AI for the 2026Q2 period. The provided text contains no analyst predictions, bank ratings, or price targets specifically for SES AI. The content includes valuation metrics for other companies, such as DaVita (P/E of 14.2x vs. fair value 25.9x), Nvidia (forward P/E of 26.9), and Check Point Software (fair value of $144.32), but these are not applicable to SES AI. Consequently, no projected financial data or analyst consensus can be extracted for SES AI from the source material.

Historical Performance Review

In 2026Q1, SES AI reported revenue of $6.71 million with a gross profit of $1.22 million. The company incurred a net loss of $12.10 million, resulting in an EPS of -$0.04. This significant negative net income relative to revenue highlights substantial operational losses during the quarter, indicating that costs significantly outweighed the generated gross profit.

Additional News

SES AI entered a framework agreement with Doroni Aerospace to design and develop a battery pack for the H1-X personal eVTOL aircraft. The agreement targets up to $1,090,000 across multiple stages in 2026 and 2027, with an initial $65,000 committed. SES AI will utilize its Molecular Universe AI platform to create high energy density cells approaching 400 Wh/kg. Additionally, satellite operator SES completed the IRIS² RDV1 milestone, securing the technical baseline for Europe’s sovereign communications network. SES expects a total capital commitment of up to €1.35 billion for the MEO segment, targeting 18 satellites for service entry in 2030. SES retains commercial rights for approximately 90% of the MEO capacity. Regarding insider activity, insiders have sold a total of 17,702,819 shares worth $6,895,678.30 over the last 24 months, with General Motors Holdings and Temasek being notable sellers.

Summary & Outlook

SES AI faces challenges with a $12.10 million net loss against $6.71 million revenue in Q1 2026, indicating high burn. However, the Doroni Aerospace eVTOL battery partnership offers a potential growth catalyst with up to $1.09 million in future revenue. The separation from the satellite operations (SES) isolates the battery business, which holds technological advantages with 400 Wh/kg density. Despite the strong technical narrative, the historical financial data shows a clear path to losses. The outlook remains cautious; while the eVTOL deal provides upside, the company must demonstrate a path to profitability to offset the high operational costs seen in Q1. The stance is neutral-to-bearish short-term due to financial health, but bullish on long-term tech potential if execution succeeds.