# SES AI Corporation (SES) · Edgar & Edgarette company card

> Ses Ai (SES) grew revenue 929% in FY2025 to $21 million, operating margin -393% against a -7.6% median for miscellaneous electrical machinery, equipment & supplies, equity 78.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1819142 · fiscal year ended 2025-12-31 · 2 audited years read · [page](https://www.pops4.com/boards/company/SES) · [JSON](https://www.pops4.com/boards/company/SES.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $21M |
| Revenue growth, 1 year | 929.4% |
| Revenue growth per year | — |
| Operating margin | -393.4% (prior year -5355.3%) |
| Net margin | -347.8% |
| Operating cash flow | −$58M |
| Capital spending | $3M |
| Free cash flow | −$61M |
| Cash | $30M |
| Long-term debt | — |
| Total assets | $273M |
| Total equity | $215M |
| Equity ÷ assets | 78.8% |
| Return on equity | -34.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 2.03 (grey zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; revenue is hard to predict: its 80% range is ±28%

## Edgarette's reading

Exposure: revenue $21.0M (FY2025). Experience: revenue up 929.4% on the year; operating margin -393.4%, up from -5355.3%. Soundness: equity 78.8% of assets, return on equity -34.0%. Credibility: 2 audited years, moderate weight. Range: 80% of past cases like this landed between $158.7M and $284.9M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (15 filers, $50M+ revenue, miscellaneous electrical machinery, equipment & supplies): operating margin -393.4% against a -7.6% median; growth 929.4% against 6.9%.

Range logged 2026-10-28, receipt 05640f981360e2c7, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 2, latest 2026-08-14 ([filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000047/0001819142-26-000047-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-08-11 ([filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000044/0001819142-26-000044-index.htm))

## Recent filings

- DEF 14A · filed 2026-10-27 · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000060/0001819142-26-000060-index.htm)
- 8-K · filed 2026-08-14 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000047/0001819142-26-000047-index.htm)
- 10-Q · filed 2026-08-11 · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000045/0001819142-26-000045-index.htm)
- 8-K · filed 2026-08-11 · 2.02 Results of Operations and Financial Condition; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000044/0001819142-26-000044-index.htm)
- 8-K · filed 2026-07-20 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000038/0001819142-26-000038-index.htm)
- 10-Q · filed 2026-04-24 · [filing](https://www.sec.gov/Archives/edgar/data/1819142/000181914226000026/0001819142-26-000026-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001819142.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1819142

## Cite

POPS4, Edgar & Edgarette: SES AI Corporation (SES) company card, from the company's own SEC filings, accessed 2026-10-28, https://www.pops4.com/boards/company/SES. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.