SES AI Stock Plunges 30% After Weak 2026 Revenue Guidance

SES AI Corp (NYSE:SES) shares are trading sharply lower Thursday morning after the lithium-metal battery developer posted mixed fourth-quarter results and issued a 2026 sales outlook that trailed Wall Street expectations. Here’s what investors need to know.

• SES AI shares are retreating from recent levels. Why is SES stock dropping?

Q4 Results Show Earnings Beat, Revenue Miss

For the fourth quarter, SES AI reported an adjusted loss of 4 cents per share, beating analysts' forecast for a 5-cent loss and narrowing from an 11-cent loss a year earlier. Revenue jumped to about $4.6 million from $2.0 million but fell well short of the $6.64 million consensus estimate.

For full-year 2025, revenue climbed tenfold to $21.0 million from $2.0 million in 2024, while the company trimmed both its GAAP and non-GAAP net losses. SES ended the year with approximately $200 million in liquidity, which management said should fund operations into 2028.

SES AI Revenue Guidance Misses Analyst Estimates

The main drag on sentiment was SES AI's 2026 revenue guidance. The company projected sales of $30 million to $35 million, well below the $51.67 million analysts were expecting, raising concerns about the pace of commercialization for its Energy Storage Systems, drone battery and materials businesses.

CEO Qichao Hu highlighted progress on SES's AI-driven "Molecular Universe" platform and reiterated a focus on a capex-light model, but investors appear to be largely focused on the softer outlook amid Thursday’s selloff.

SES AI Stock Erases Dramatic Surge

Over the past year, SES AI stock has experienced a dramatic surge, climbing from a low of $0.40 to a peak of $3.54 in late 2025.

However, the stock hasn't been able to hold on to those gains and has steadily declined into early 2026, dropping back below its 20-day, 50-day and 200-day simple moving averages.

SES Shares Fall Sharply Thursday Morning

SES Price Action: SES shares were down 31.58% at $1.16 at the time of publication on Thursday, according to Benzinga Pro data.

Image: Shutterstock