SES AI (SES) Q3 FY2026 earnings: revenue $7 million, down 6.7% on the year
SES AI Corp. (SES) reported revenue of $7 million for Q3 FY2026, the quarter ended 30 September 2026, down 6.7% on the same quarter a year earlier. Net income was -$13 million, and diluted earnings per share $-0.04. The figures are the company's own, from the 10-Q it filed with the SEC on 12 November 2026.
Revenue
$7 million
-6.7% on the year · +30.9% on the quarter
Q1 FY2025Q3 FY2026
Operating margin
-277.4%
-262.0% a year earlier
Q1 FY2025Q3 FY2026
Net income
-$13 million
Q1 FY2025Q3 FY2026
Diluted EPS
-$0.04
Q1 FY2025Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 new, 1 kept.
Revenue rose 31% from second quarter: Third quarter revenue was $6.6 million, up 31% from $5.1 million in the second quarter. Nine-month revenue was $18.4 million.
GAAP net loss narrowed to $13.4 million: GAAP net loss was $13.4 million, or $0.04 per share, against $17.9 million, or $0.05, in the second quarter. Non-GAAP net loss was $10.7 million.
Pipeline exceeds fifty drone makers: The company reports more than 50 drone makers and pack integrators in its pipeline seeking NDAA cells, and about half a dozen have audited the production line.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
-15.2
-13.8
-14.3
Capital expenditure
1.5
0.7
0.4
+128.2%
+251.4%
Free cash flow
-16.7
-14.5
-14.7
Free cash flow margin
-251.5%
-285.5%
-206.9%
Cash from investing
31.0
31.5
39.5
-1.5%
-21.5%
Cash from financing
-9.2
-0.2
-1.7
Depreciation and amortisation
2.3
2.7
2.6
-13.1%
-11.2%
Share-based compensation
2.1
2.0
2.2
+5.8%
-4.3%
Diluted shares, weighted
335m
336m
331m
-0.5%
+1.0%
Shares outstanding at period end
357m
371m
365m
-3.9%
-2.3%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
166
187
228
-11.0%
-27.1%
Non-controlling interest
0.0
0.0
n/a
+300.0%
Short-term borrowings
n/a
0.4
1.9
Operating lease liabilities
4.9
5.1
6.2
-3.9%
-21.3%
Other liabilities
41.1
43.6
52.4
-5.8%
-21.6%
Total liabilities and equity
212
236
289
-10.1%
-26.5%
Fixed assets
24.3
24.2
31.0
+0.2%
-21.6%
Goodwill
13.3
13.3
12.6
0.0%
+5.2%
Intangible assets
2.7
2.7
2.9
-1.2%
-7.5%
Investments
66.6
98.9
179
-32.6%
-62.7%
Cash and equivalents
70.7
64.1
35.3
+10.2%
+100.4%
Receivables
10.1
7.7
3.4
+30.8%
+200.6%
Inventory
8.4
8.4
3.7
-0.2%
+130.2%
Other assets
16.3
16.8
21.3
-3.1%
-23.3%
Total assets
212
236
289
-10.1%
-26.5%
Questions
What was SES AI's revenue in Q3 FY2026?
SES AI (SES) reported revenue of $7 million for Q3 FY2026, the quarter ended 30 September 2026, down 6.7% on the same quarter a year earlier.
How much did SES AI earn in Q3 FY2026?
Net loss for Q3 FY2026 was $13 million, and the diluted loss per share $0.04.
When did SES AI report Q3 FY2026 results?
SES AI filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 12 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 12 November 2026: the filing.