SES AI's Q2 2025: Unraveling Contradictions in Pricing, Capacity, and AI Strategies

Molecular Universe Pricing and Revenue Model, UAM and Drone Capacity and Ramp, AI Revenue Model and Ramp Strategy, AI Model Improvements and Data Impact, M&A Strategy and Focus are the key contradictions discussed in SES AI's latest 2025Q2 earnings call.



Revenue Growth and Strategic Acquisitions:
- SES AI reported revenue of $3.5 million for the second quarter, with a 74% gross margin.
- The growth was driven by contracts with automotive OEM customers and the strategic acquisition of UZ Energy, which is expected to exponentially increase revenue in the ESS market.

Reduction in Cash Usage:
- The company utilized $10.8 million in cash for operations in Q2, a 51% decrease from Q2 2024 and 53% decrease from Q1 2025.
- This reduction is a result of executing operational discipline and effectively deploying capital.

AI Platform and Material Discovery:
- Over 30 companies have begun trial testing the Molecular Universe platform, with more in the pipeline.
- The platform's success is attributed to its unique access to high-quality battery data and the integration of AI with physical systems, reducing product development time significantly.