SES AI reported 3Q26 revenue of $6.6M, up 31% q/q, while adjusted EBITDA losses narrowed to $12.0M from $14.6M in 2Q26, including a $2.2M noncash acquisition-related gain. Gross margin declined to 4.9% as the Company discounted legacy energy storage inventory ahead of the rollout of its upgraded 16 kWh system. SES began commercial drone-cell production and deliveries from its Chungju facility in October, securing initial orders from U.S. Drone Dominance Program participants and targeting 1M–1.5M qualified-cell deliveries in 2027. Management plans to expand annual production capacity from 1M to 3M cells by mid-2027 for approximately $5M in incremental capital spending. The Company also advanced Molecular Universe 4.0, with major battery manufacturers evaluating its M-Lab platform. Management reiterated FY26 revenue guidance of $30M–$35M, while repeat drone orders, production yields, ESS demand, and initial M-Lab commercialization remain important indicators of growth heading into 2027.