AEVA · Aeva Technologies, Inc.

Aeva Technologies reported first quarter 2026 results, achieving record quarterly revenue of $6.3 million, up 86% from $3.4 million in the same period last year. The revenue growth was driven by increasing commercial deployments of its perception platform and successful execution of major development milestones for top automotive OEM production programs. Gross profit improved to $1.9 million from $0.3 million a year ago, reflecting higher revenue and improved cost management. GAAP operating loss widened to $35.1 million from $30.4 million, primarily due to higher stock-based compensation and increased R&D and G&A expenses. Non-GAAP operating loss improved slightly to $25.8 million from $25.9 million, indicating underlying operational leverage. GAAP net loss per share improved to -$0.56 from -$0.64, while non-GAAP net loss per share improved to -$0.41 from -$0.45. Key business highlights include delivery of production intent Atlas sensors to Daimler Truck, first Atlas Ultra sensors to a top European passenger OEM, and growing momentum in defense, smart infrastructure, and factory automation. The company ended the quarter with total available liquidity of $224.5 million, including $99.5 million in cash and marketable securities and a $125.0 million available facility. Management expressed confidence in scaling manufacturing to meet growing demand. No forward guidance was provided in the release.