SES AI Corporation (SES) Revenue History
Annual and quarterly revenue from 2008 to present
SES Revenue Over Time (2008–2025)
SES Revenue Growth History
6 of 12 years with positive growth- FY2008 revenue growth
- N/A
- FY2009 revenue growth
- +536.4%
- FY2010 revenue growth
- +342.9%
- FY2011 revenue growth
- +9.2%
- FY2012 revenue growth
- -69.9%
- FY2013 revenue growth
- -81.0%
- FY2014 revenue growth
- +2919.0%
- FY2015 revenue growth
- -11.4%
- FY2016 revenue growth
- -95.8%
- FY2017 revenue growth
- -76.8%
- FY2018 revenue growth
- +898.0%
- FY2019 revenue growth
- -100.0%
- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- N/A
- FY2022 revenue growth
- N/A
- FY2023 revenue growth
- N/A
- FY2024 revenue growth
- N/A
- FY2025 revenue growth
- +929.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $6.7M | +15.8% |
| Q4 2025 | $4.6M | +123.6% |
| Q3 2025 | $7.1M | — |
| Q2 2025 | $3.5M | — |
| Q1 2025 | $5.8M | — |
| Q4 2024 | $2.0M | — |
| Q3 2024 | $0 | — |
| Q2 2024 | $0 | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SES's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SES Revenue Analysis (2008–2025)
Current Revenue & Growth
As of June 21, 2026, SES AI Corporation (SES) generated trailing twelve-month (TTM) revenue of $21.9 million, reflecting strong growth of +15.8% year-over-year. The most recent quarter (Q1 2026) recorded $6.7 million in revenue, up 47.1% sequentially.
Historical Growth Trajectory
SES's historical revenue data shows various trends over time. SES AI Corporation's highest annual revenue of $21.0 million was recorded in 2025, an all-time high.
Revenue by Segment
SES's revenue is primarily driven by Service (65%), and Product (35%). With over half of revenue concentrated in Service, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including SLDP (-6.9% YoY), MVST (-10.4% YoY), and CBAT (+50.5% YoY) — SES has underperformed the peer group in revenue growth. Compare SES vs SLDP →
SES Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SESCurrent | $22M | +15.8% | - | -393.4% | |
 SLDP | $22M | -6.9% | +59.6% | -463.7% | |
 MVST | $428M | -10.4% | +31.8% | 9.5% | |
 CBAT | $195M | +50.5% | +39.0% | -9.6% | |
 AMPX | $73M | +172.6% | +73.2% | -63.9% |
SES Historical Revenue Data (2008–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.0M | +929.4% | $11.3M | 53.8% | $-82,614,000 | -393.4% |
| 2024 | $2.0M | - | $1.3M | 63.1% | $-109,248,000 | -5355.3% |
| 2023 | $0 | - | $-5,541,000 | - | $-78,158,000 | - |
| 2022 | $0 | - | $-2,596,000 | - | $-79,573,000 | - |
| 2021 | $0 | - | $-1,662,000 | - | $-32,006,000 | - |
| 2020 | $0 | - | $0 | - | $-13,903,000 | - |
| 2019 | $0 | -100.0% | $0 | - | $-15,290,000 | - |
| 2018 | $1.5M | +898.0% | $1.1M | 72.6% | $-8,864,000 | -588.2% |
| 2017 | $151K | -76.8% | $9K | 6.0% | $-26,923,000 | -17829.8% |
| 2016 | $650K | -95.8% | $439K | 67.5% | $-22,633,000 | -3482.0% |
| 2015 | $15.5M | -11.4% | $-4,196,000 | -27.0% | $-37,510,000 | -241.7% |
| 2014 | $17.5M | +2919.0% | $150K | 0.9% | $-13,859,000 | -79.1% |
| 2013 | $580K | -81.0% | $-170,000 | -29.3% | $-19,628,000 | -3384.1% |
| 2012 | $3.1M | -69.9% | $-1,710,000 | -55.9% | $-21,710,000 | -709.5% |
| 2011 | $10.2M | +9.2% | $1.0M | 10.2% | $-16,160,000 | -159.1% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
18+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SES — Frequently Asked Questions
Quick answers to the most common questions about buying SES stock.
Is SES's revenue growth accelerating or slowing?
SES revenue growth is accelerating. TTM revenue reached $22M, up +15.8% year-over-year — ahead of the 5-year CAGR of N/A. This indicates the business is expanding faster than its historical baseline.
What is SES's revenue history from 2008 to 2026?
SES AI Corporation (SES) revenue history spans 2008 to 2026. TTM revenue as of 2026 is $22M, growing at +15.8% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SES's long-term revenue growth rate (CAGR)?
SES AI Corporation's 5-year revenue CAGR of N/A reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +15.8% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SES.
Why does SES's quarterly revenue fluctuate?
SES quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. SES AI Corporation's revenue data from 2008 to 2026 shows full historical quarterly detail on this page.
How is SES's revenue distributed by segment?
SES reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SES's revenue compare to industry peers?
SES AI Corporation (SES) with TTM revenue of $22M and +15.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.