SES AI Corp
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
SES$0.89-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
| | | | | | |
|---|---|---|---|---|---|
| | Nine Months Ended September 30, | ||||
| (in thousands) · 2025 · 2024 | |||||
| Cash Flows From Operating Activities · · | |||||
| Net loss | $(56,003) | | $(65,640) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | ||||
| Gain from change in fair value of Sponsor Earn-Out liabilities | | (2,523) | | | (3,287) |
| Stock-based compensation | 8,864 | | 16,097 | ||
| Depreciation and amortization | 7,671 | | 5,893 | ||
| Loss on disposal of fixed assets | | 616 | | | — |
| Accretion income from available-for-sale short-term investments | | (2,421) | | | (5,988) |
| Other | | 425 | | | (997) |
| Changes in operating assets and liabilities: | | | | ||
| Receivable from related party | | — | | | 1,348 |
| Accounts receivable | | (1,283) | | | — |
| Inventories | | 368 | | | 237 |
| Prepaid expenses and other assets | (5,419) | | (3,674) | ||
| Right-of-use assets | | 1,913 | | | 2,395 |
| Accounts payable | 178 | | (354) | ||
| Lease liabilities | (2,356) | | 2,823 | ||
| Accrued expenses and other liabilities | | 2,015 | | | (2,647) |
| Net cash used in operating activities | (47,955) | | (53,794) | ||
| Cash Flows From Investing Activities | | ||||
| Purchases of property and equipment | (2,146) | | (11,973) | ||
| Acquisition of business, net of cash acquired | | 795 | | | — |
| Proceeds from the sale of short-term investments | | 4,997 | | | — |
| Purchase of short-term investments | (194,798) | | (188,873) | ||
| Proceeds from the maturities of short-term investments | 147,448 | | 235,000 | ||
| Net cash (used in) provided by investing activities | (43,704) | | 34,154 | ||
| Cash Flows From Financing Activities | | ||||
| Repurchase and retirement of Class A common stock | | (1,605) | | | — |
| Payments for taxes withheld to cover vested restricted stock | | (418) | | | — |
| Proceeds from stock option exercises | | 13 | | | 378 |
| Net cash (used in) provided by financing activities | (2,010) | | 378 | ||
| Effect of exchange rates on cash | 177 | | (291) | ||
| Net decrease in cash, cash equivalents and restricted cash | (93,492) | | (19,553) | ||
| Cash, cash equivalents and restricted cash at beginning of period (Note 6) | 129,395 | | 86,966 | ||
| Cash, cash equivalents and restricted cash at end of period (Note 6) | $35,903 | | $67,413 | ||
| | | | | | |
| Supplemental Cash and Non-Cash Information: | | ||||
| Income taxes paid | $— | | $260 | ||
| Accounts payable and accrued expenses related to purchases of property and equipment | $937 | | $2,438 | ||
| Deferred consideration payable for acquisition | $11,698 | | $— | ||
| Operating lease liabilities arising from obtaining right-of-use assets | $— | | $12 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.