In the SES AI (ticker SESAI) Third Quarter 2024 Earnings Call, CEO Qichao Hu and CFO Jing Nealis highlighted significant advancements in lithium metal battery technology and AI solutions.
The company successfully completed safety tests for its 100 mPOWER lithium metal B-sample cells and established supply agreements, including one with SoftBank, which are expected to generate revenue from AI-accelerated battery material discovery.
Financially, SES AI reported strong liquidity of $274 million, forecasting cash usage between $80-$95 million for 2024, ensuring a robust balance sheet through 2028.
The company is committed to developing new electrolytes every six months and is focused on improving battery cycle life by 20% using AI.
Despite the positive advancements, recent market data from InvestingPro presents a more complex view of SES AI’s financial health, with a market capitalization of $169.22 million and a low price-to-book ratio of 0.51, suggesting the stock may be undervalued relative to its assets.
The earnings call did not highlight any specific concerns or underperformance, indicating a stable outlook.
SES AI aims to expand its customer base across various sectors, leveraging its innovations in battery technology and AI to capitalize on the rapidly growing urban air mobility (UAM) market, positioning the company for future growth.
