0000950170-25-103384
SEC filingAeva holds $49.8M in cash and securities, $44.7M RPO, but $227.6M net loss and $179.6M in liability-classified warrants and share subscriptions.
As of June 30, 2025, Aeva holds $21.7 million in cash and cash equivalents and $28.1 million in marketable securities, totaling $49.8 million in liquidity. The company reports a stockholders' deficit of $118.2 million, driven by $179.6 million in liability-classified warrants and share subscription liabilities (Note 3, Note 10). Inventories stand at $3.7 million, up from $2.3 million at year-end 2024, reflecting increased work-in-progress and raw materials (Note 5). Property, plant and equipment net is $12.8 million, including $4.4 million in construction in progress (Note 6). Total assets are $91.1 million versus total liabilities of $209.3 million.
The company has $44.7 million in remaining performance obligations (RPO) as of June 30, 2025, with approximately 23% expected to be recognized over the next 12 months (Note 2). Operating lease commitments total $1.9 million in undiscounted cash flows, with $1.1 million due within the remainder of 2025 and $0.7 million in 2026 (Note 15). Additionally, a litigation settlement accrual of $11.2 million remains outstanding as a current liability (Note 9, Note 15).
Aeva did not repurchase shares or pay dividends during the period. Capital expenditures totaled $1.8 million for the six months ended June 30, 2025, primarily for lab and manufacturing equipment (Note 6, cash flow statement). The company maintains a Standby Equity Purchase Agreement with Sylebra for up to $125 million in convertible preferred stock, but no advances have been drawn as of June 30, 2025 (Note 10). A strategic investment from LG Innotek via a share subscription agreement is expected to close, with a $32.5 million investment at a fixed price of $9.26 per share subject to adjustment (Note 10).
The company operates as a single operating segment (Note 16). For the six months ended June 30, 2025, revenue was $8.9 million, with 89% from North America, 6% from EMEA, and 5% from APAC (Note 2). Revenue is recognized 75% at point-in-time (product sales) and 25% over time (non-recurring engineering services). The CODM uses net loss as the primary profit measure; no segment-level operating income is disclosed.
The provided excerpt from Aeva Technologies' 10-Q does not include the Consolidated Statements of Cash Flows. The text primarily covers accounting policies, revenue disaggregation, and contract details. Therefore, no cash flow analysis can be performed.