SES AI Corp reported Q2 2024 financial results, with research and development expenses increasing 137% year-over-year to $15.1 million. Net loss widened to $19.9 million from $12.9 million in Q2 2023. The company cited reduced reimbursements from joint development agreement partners and higher personnel costs as key factors driving the increased R&D spending.Revenue generation remains a future goal as SES continues to focus on developing its lithium-metal battery technology. The company highlighted progress in manufacturing 50Ah and 100Ah automotive lithium-metal cells, as well as advancements in its artificial intelligence initiatives for battery safety and material development.SES ended Q2 with $54.8 million in cash and $239.9 million in marketable securities. Management believes current funds are sufficient to reach commercialization, though additional capital may be required. The company aims to transition to C-Sample development in 2026 and begin commercial production in 2027, which is expected to significantly increase cash utilization.

SES AI Corp reported Q2 2024 financial results, with research and development expenses increasing 137% year-over-year to $15.1 million. Net loss widened to $19.9 million from $12.9 million in Q2 2023. The company cited reduced reimbursements from joint development agreement partners and higher personnel costs as key factors driving the increased R&D spending.Revenue generation remains a future goal as SES continues to focus on developing its lithium-metal battery technology. The company highlighted progress in manufacturing 50Ah and 100Ah automotive lithium-metal cells, as well as advancements in its artificial intelligence initiatives for battery safety and material development.SES ended Q2 with $54.8 million in cash and $239.9 million in marketable securities. Management believes current funds are sufficient to reach commercialization, though additional capital may be required. The company aims to transition to C-Sample development in 2026 and begin commercial production in 2027, which is expected to significantly increase cash utilization.