10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001819142-23-000057 |
| Period End Date | 20230331 |
| Filing Date | 20230509 |
| Fiscal Year | 2023 |
| Fiscal Period | Q1 |
| XBRL Instance | ses-20230331x10q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
55 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$47.98M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$106.62M | USD | Point-in-time |
| Short-term investments |
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
$283.46M | USD | Point-in-time |
| Short-term investments |
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
$305.14M | USD | Point-in-time |
| Receivable from related party |
DueFromRelatedPartiesCurrent
|
$2.81M | USD | Point-in-time |
| Receivable from related party |
DueFromRelatedPartiesCurrent
|
$2.38M | USD | Point-in-time |
| Inventories |
InventoryNet
|
$502.00K | USD | Point-in-time |
| Inventories |
InventoryNet
|
$383.00K | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$3.79M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$6.36M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$362.79M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$396.64M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$27.76M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$27.91M | USD | Point-in-time |
| Long-term investments |
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
$19.54M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.44M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.47M | USD | Point-in-time |
| Right-of-use assets, net |
OperatingLeaseRightOfUseAsset
|
$11.59M | USD | Point-in-time |
| Right-of-use assets, net |
OperatingLeaseRightOfUseAsset
|
$11.36M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$4.60M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$3.21M | USD | Point-in-time |
| Total assets |
Assets
|
$440.44M | USD | Point-in-time |
| Total assets |
Assets
|
$427.87M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$6.19M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$2.79M | USD | Point-in-time |
| Operating lease liabilities, current |
OperatingLeaseLiabilityCurrent
|
$2.07M | USD | Point-in-time |
| Operating lease liabilities, current |
OperatingLeaseLiabilityCurrent
|
$1.90M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedExpensesAndOtherCurrentLiabilities
|
$11.40M | USD | Point-in-time |
| Accrued expenses and other current liabilities |
AccruedExpensesAndOtherCurrentLiabilities
|
$11.27M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$19.36M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$16.26M | USD | Point-in-time |
| Sponsor Earn-Out Liability |
DerivativeLiabilitiesNoncurrent
|
$10.96M | USD | Point-in-time |
| Sponsor Earn-Out Liability |
DerivativeLiabilitiesNoncurrent
|
$10.39M | USD | Point-in-time |
| Operating leases, non-current |
OperatingLeaseLiabilityNoncurrent
|
$10.16M | USD | Point-in-time |
| Operating leases, non-current |
OperatingLeaseLiabilityNoncurrent
|
$9.90M | USD | Point-in-time |
| Unearned government grant |
GovernmentAssistanceUnearnedGovernmentGrantNoncurrent
|
$6.43M | USD | Point-in-time |
| Unearned government grant |
GovernmentAssistanceUnearnedGovernmentGrantNoncurrent
|
$6.66M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$2.56M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$1.76M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$45.55M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$48.90M | USD | Point-in-time |
| Commitments and contingencies (Note 8) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies (Note 8) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Common stock: Class A shares, $0.0001 par value, 2,100,000,000 shares authorized as of March 31, 2023; 305,891,287 shares and 305,833,589 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class B shares, $0.0001 par value, 200,000,000 shares authorized as of March 31, 2023; 43,881,251 shares and 43,881,251 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively |
CommonStockValue
|
$35.00K | USD | Point-in-time |
| Common stock: Class A shares, $0.0001 par value, 2,100,000,000 shares authorized as of March 31, 2023; 305,891,287 shares and 305,833,589 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; Class B shares, $0.0001 par value, 200,000,000 shares authorized as of March 31, 2023; 43,881,251 shares and 43,881,251 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively |
CommonStockValue
|
$35.00K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$544.52M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$538.04M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-161.51M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-145.29M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-712.00K | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-1.25M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$391.54M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$382.33M | USD | Point-in-time |
| Total liabilities, redeemable convertible preferred stock, and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$427.87M | USD | Point-in-time |
| Total liabilities, redeemable convertible preferred stock, and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$440.44M | USD | Point-in-time |
Income Statement
35 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Research and development |
ResearchAndDevelopmentExpense
|
$8.49M | USD | 1 Quarter |
| Research and development |
ResearchAndDevelopmentExpense
|
$4.07M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$15.13M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$13.12M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$21.61M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$19.20M | USD | 1 Quarter |
| Loss from operations |
OperatingIncomeLoss
|
$-21.61M | USD | 1 Quarter |
| Loss from operations |
OperatingIncomeLoss
|
$-19.20M | USD | 1 Quarter |
| Interest income, net |
InterestIncomeExpenseNonoperatingNet
|
$23.00K | USD | 1 Quarter |
| Interest income, net |
InterestIncomeExpenseNonoperatingNet
|
$4.14M | USD | 1 Quarter |
| Other income (expense), net |
OtherNonoperatingIncomeExpense
|
$820.00K | USD | 1 Quarter |
| Other income (expense), net |
OtherNonoperatingIncomeExpense
|
$-160.00K | USD | 1 Quarter |
| Gain (loss) on change of fair value of Sponsor Earn-Out Liability, net |
DerivativeGainLossOnDerivativeNet
|
$569.00K | USD | 1 Quarter |
| Gain (loss) on change of fair value of Sponsor Earn-Out Liability, net |
DerivativeGainLossOnDerivativeNet
|
$-7.69M | USD | 1 Quarter |
| Total other income (expense), net |
NonoperatingIncomeExpense
|
$-7.83M | USD | 1 Quarter |
| Total other income (expense), net |
NonoperatingIncomeExpense
|
$5.53M | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-27.02M | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-16.08M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$143.00K | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$11.00K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-16.23M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-27.03M | USD | 1 Quarter |
| Unrealized gain on investments |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$467.00K | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$109.00K | USD | 1 Quarter |
| Foreign currency translation adjustment |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$72.00K | USD | 1 Quarter |
| Total comprehensive loss |
ComprehensiveIncomeNetOfTax
|
$-15.69M | USD | 1 Quarter |
| Total comprehensive loss |
ComprehensiveIncomeNetOfTax
|
$-26.92M | USD | 1 Quarter |
| Net loss per share attributable to common stockholders, basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.12 | USD | 1 Quarter |
| Net loss per share attributable to common stockholders, basic (in dollars per share) |
EarningsPerShareBasic
|
$-0.05 | USD | 1 Quarter |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.12 | USD | 1 Quarter |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) |
EarningsPerShareDiluted
|
$-0.05 | USD | 1 Quarter |
| Weighted-average shares outstanding, basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
313.42M | shares | 1 Quarter |
| Weighted-average shares outstanding, basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
219.18M | shares | 1 Quarter |
| Weighted-average shares outstanding, diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
313.42M | shares | 1 Quarter |
| Weighted-average shares outstanding, diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
219.18M | shares | 1 Quarter |
Cash Flow Statement
51 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-27.03M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-16.23M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$3.19M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$6.46M | USD | 1 Quarter |
| Accretion income from debt investments |
DebtSecuritiesAvailableForSaleAccretionIncomeOperatingActivities
|
$2.95M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$410.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$1.06M | USD | 1 Quarter |
| (Gain) loss from change in fair value of Sponsor Earn-Out liability |
DerivativeGainLossOnDerivativeNet
|
$569.00K | USD | 1 Quarter |
| (Gain) loss from change in fair value of Sponsor Earn-Out liability |
DerivativeGainLossOnDerivativeNet
|
$-7.69M | USD | 1 Quarter |
| Other |
OtherOperatingActivitiesCashFlowStatement
|
$-683.00K | USD | 1 Quarter |
| Receivable from related party |
IncreaseDecreaseInDueFromRelatedPartiesCurrent
|
$422.00K | USD | 1 Quarter |
| Receivable from related party |
IncreaseDecreaseInDueFromRelatedPartiesCurrent
|
$-373.00K | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$120.00K | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$2.55M | USD | 1 Quarter |
| Prepaid expenses and other assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$6.45M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$5.45M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-15.00K | USD | 1 Quarter |
| Accrued expenses and other liabilities |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$619.00K | USD | 1 Quarter |
| Accrued expenses and other liabilities |
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
$1.57M | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-14.81M | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-15.39M | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$5.97M | USD | 1 Quarter |
| Purchases of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$2.54M | USD | 1 Quarter |
| Purchases of intangibles |
PaymentsToAcquireIntangibleAssets
|
$117.00K | USD | 1 Quarter |
| Purchase of marketable securities |
PaymentsToAcquireMarketableSecurities
|
$97.12M | USD | 1 Quarter |
| Maturities of marketable securities |
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
$60.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-2.66M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-43.09M | USD | 1 Quarter |
| Proceeds from Business Combination and PIPE Financing, net of issuance costs |
ProceedsFromBusinessCombinationAndPrivateInvestmentInPublicEquityFinancingNetOfIssuanceCosts
|
$282.94M | USD | 1 Quarter |
| Proceeds from stock option exercises |
ProceedsFromStockOptionsExercised
|
$13.00K | USD | 1 Quarter |
| Proceeds from stock option exercises |
ProceedsFromStockOptionsExercised
|
$4.00K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$282.94M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$13.00K | USD | 1 Quarter |
| Effect of exchange rates on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$109.00K | USD | 1 Quarter |
| Effect of exchange rates on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-198.00K | USD | 1 Quarter |
| Net (decrease) increase in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-58.67M | USD | 1 Quarter |
| Net (decrease) increase in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$265.58M | USD | 1 Quarter |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$49.27M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$161.04M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$107.94M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$426.62M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$49.27M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$161.04M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$107.94M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$426.62M | USD | Point-in-time |
| Accounts payable and accrued expenses related to purchases of property and equipment |
CapitalExpendituresIncurredButNotYetPaid
|
$1.03M | USD | 1 Quarter |
| Accounts payable and accrued expenses related to purchases of property and equipment |
CapitalExpendituresIncurredButNotYetPaid
|
$1.98M | USD | 1 Quarter |
| Lease liabilities arising from obtaining right-of-use assets |
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
$776.00K | USD | 1 Quarter |
| Conversion of Redeemable Convertible Preferred Stock to shares of Class A Common Stock |
ConversionOfStockAmountConverted1
|
$269.94M | USD | 1 Quarter |
| Deferred offering costs included in accounts payable and accrued expenses and other liabilities |
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpensesAndOtherLiabilities
|
$-12.95M | USD | 1 Quarter |
| Liabilities of Ivanhoe acquired in the Business Combination |
LiabilitiesAssumed1
|
$387.00K | USD | 1 Quarter |
Stockholders Equity
19 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$382.33M | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$391.54M | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$392.41M | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-88.32M | USD | Point-in-time |
| Conversion of redeemable convertible preferred stock to common stock in connection with reverse recapitalization upon Business Combination |
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
$269.94M | USD | 1 Quarter |
| Business Combination and PIPE Financing, net of redemptions and transaction costs |
BusinessCombinationAndPrivateInvestmentInPublicEquityFinancingNetOfRedemptionsAndTransactionCostsValue
|
$234.52M | USD | 1 Quarter |
| Stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$3.19M | USD | 1 Quarter |
| Stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$6.46M | USD | 1 Quarter |
| Issuance of common stock upon exercise of stock options |
StockIssuedDuringPeriodValueStockOptionsExercised
|
$4.00K | USD | 1 Quarter |
| Issuance of common stock upon exercise of stock options |
StockIssuedDuringPeriodValueStockOptionsExercised
|
$13.00K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-16.23M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-27.03M | USD | 1 Quarter |
| Unrealized gain on investments |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$467.00K | USD | 1 Quarter |
| Foreign currency translation adjustments |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$109.00K | USD | 1 Quarter |
| Foreign currency translation adjustments |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
$72.00K | USD | 1 Quarter |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$382.33M | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$391.54M | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$392.41M | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$-88.32M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.