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Side-by-side financial comparison of Lifezone Metals Ltd (LZM) and SES AI Corp (SES). Click either name above to swap in a different company.
SES AI Corp is the larger business by last-quarter revenue ($4.6M vs $8.3K, roughly 552.2× Lifezone Metals Ltd). SES AI Corp runs the higher net margin — -373.5% vs -81710.7%, a 81337.3% gap on every dollar of revenue.
Lifezone Metals Ltd is a sustainable critical minerals mining firm focused on producing low-carbon, battery-grade nickel, cobalt, and related key materials. It serves the global electric vehicle and renewable energy storage sectors, with core operational projects located in East Africa, supporting decarbonization efforts across global clean energy supply chains.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
LZM vs SES — Head-to-Head
Income Statement — Q2 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.3K | $4.6M |
| Net Profit | $-6.8M | $-17.0M |
| Gross Margin | 84.2% | 11.3% |
| Operating Margin | -65084.3% | -387.7% |
| Net Margin | -81710.7% | -373.5% |
| Revenue YoY | — | — |
| Net Profit YoY | — | 50.7% |
| EPS (diluted) | $-0.09 | $-0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $4.6M | ||
| Q3 25 | — | $7.1M | ||
| Q2 25 | — | $3.5M | ||
| Q1 25 | — | $5.8M | ||
| Q2 24 | $8.3K | — |
| Q4 25 | — | $-17.0M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | — | $-22.7M | ||
| Q1 25 | — | $-12.4M | ||
| Q2 24 | $-6.8M | — |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 51.1% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 78.7% | ||
| Q2 24 | 84.2% | — |
| Q4 25 | — | -387.7% | ||
| Q3 25 | — | -262.0% | ||
| Q2 25 | — | -652.3% | ||
| Q1 25 | — | -401.7% | ||
| Q2 24 | -65084.3% | — |
| Q4 25 | — | -373.5% | ||
| Q3 25 | — | -293.9% | ||
| Q2 25 | — | -642.2% | ||
| Q1 25 | — | -214.6% | ||
| Q2 24 | -81710.7% | — |
| Q4 25 | — | $-0.05 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | — | $-0.07 | ||
| Q1 25 | — | $-0.04 | ||
| Q2 24 | $-0.09 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.5M | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $118.9M | $214.8M |
| Total Assets | $181.4M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $29.5M | ||
| Q3 25 | — | $35.3M | ||
| Q2 25 | — | $11.8M | ||
| Q1 25 | — | $56.1M | ||
| Q2 24 | $63.5M | — |
| Q4 25 | — | $214.8M | ||
| Q3 25 | — | $228.2M | ||
| Q2 25 | — | $249.2M | ||
| Q1 25 | — | $269.9M | ||
| Q2 24 | $118.9M | — |
| Q4 25 | — | $272.6M | ||
| Q3 25 | — | $288.8M | ||
| Q2 25 | — | $290.5M | ||
| Q1 25 | — | $306.0M | ||
| Q2 24 | $181.4M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-10.4M |
| Free Cash FlowOCF − Capex | — | $-11.1M |
| FCF MarginFCF / Revenue | — | -243.7% |
| Capex IntensityCapex / Revenue | — | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-10.4M | ||
| Q3 25 | — | $-14.3M | ||
| Q2 25 | — | $-10.8M | ||
| Q1 25 | — | $-22.8M | ||
| Q2 24 | — | — |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-14.7M | ||
| Q2 25 | — | $-11.6M | ||
| Q1 25 | — | $-23.7M | ||
| Q2 24 | — | — |
| Q4 25 | — | -243.7% | ||
| Q3 25 | — | -206.9% | ||
| Q2 25 | — | -329.6% | ||
| Q1 25 | — | -410.0% | ||
| Q2 24 | — | — |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 15.8% | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
