Ses Ai (SES) Operating Expenses (2020 - 2026)
Ses Ai (SES) posted Operating Expenses of $20.3 million for Q2 2026, up 6.6% on a QoQ basis from $19.1 million in Q1 2026, and down 20.56% year-over-year from $25.6 million in Q2 2025.
Analysis
Ses Ai (SES) Operating Expenses (2020 - 2026) Analysis & Trends
Ses Ai has reported Operating Expenses for 7 years, with the latest figure at $20.3 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 20.56% year-over-year to $20.3 million in Q2 2026; TTM through Jun 2026 was $79.9 million, a 32.32% decrease from a year earlier, with the FY2025 full-year figure at $93.9 million, down 15.03% from the prior year.
- Operating Expenses was $20.3 million for Q2 2026 at Ses Ai, up from $19.1 million in the prior quarter.
- The five-year high for Operating Expenses was $34.2 million in Q3 2024, with the low at $17.9 million in Q4 2023.
- Average Operating Expenses over 5 years is $22.3 million, with a median of $20.8 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses surged 332.46% in 2022, then sank 40.18% in 2025.
- Over 5 years, Operating Expenses stood at $19.6 million in 2022, then dropped by 8.53% to $17.9 million in 2023, then soared by 69.78% to $30.4 million in 2024, then plunged by 40.18% to $18.2 million in 2025, then gained by 11.78% to $20.3 million in 2026.
- The last three Operating Expenses figures came in at $20.3 million (Q2 2026), $19.1 million (Q1 2026), and $18.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | EnerSys | 6.54 Bn | 6.01 Bn | 313.36 Mn | 151.24 Mn |
| 2 | QuantumScape | 3.20 Bn | 3.20 Bn | - | 106.13 Mn |
| 3 | Eos Energy Enterprises | 1.35 Bn | 1.00 Bn | -48.80 Mn | 35.01 Mn |
| 4 | Fluence Energy | 1.34 Bn | 769.30 Mn | 33.24 Mn | 63.04 Mn |
| 5 | Energy Vault Holdings | 752.49 Mn | 645.13 Mn | 5.38 Mn | 30.04 Mn |
| 6 | Enovix | 689.37 Mn | 689.37 Mn | 1.30 Mn | 44.60 Mn |
| 7 | Amprius Technologies | 436.15 Mn | 361.63 Mn | 9.28 Mn | 13.58 Mn |
| 8 | Electrovaya | 257.13 Mn | 244.05 Mn | 6.19 Mn | 1.07 Mn |
| 9 | Microvast Holdings | 215.82 Mn | 72.70 Mn | 25.78 Mn | 27.51 Mn |
| 10 | Ses Ai | 176.50 Mn | 176.50 Mn | 1.15 Mn | 20.34 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.34 Mn |
| Mar 31, 2026 | 19.08 Mn |
| Dec 31, 2025 | 18.20 Mn |
| Sep 30, 2025 | 22.29 Mn |
| Jun 30, 2025 | 25.61 Mn |
| Mar 31, 2025 | 27.83 Mn |
| Dec 31, 2024 | 30.42 Mn |
| Sep 30, 2024 | 34.22 Mn |
| Jun 30, 2024 | 24.63 Mn |
| Mar 31, 2024 | 21.27 Mn |
| Dec 31, 2023 | 17.92 Mn |
| Sep 30, 2023 | 19.36 Mn |
| Jun 30, 2023 | 19.27 Mn |
| Mar 31, 2023 | 21.61 Mn |
| Dec 31, 2022 | 19.59 Mn |
| Sep 30, 2022 | 21.73 Mn |
| Jun 30, 2022 | 19.06 Mn |
| Mar 31, 2022 | 19.20 Mn |
| Dec 31, 2021 | 10.17 Mn |
| Sep 30, 2021 | 10.69 Mn |