AEVA earnings call summary

Prepared Highlights

• Q1 revenue $3.4 million, record product revenue driven by automotive and industrial customers (CFO)
• Non-GAAP operating loss $25.9 million, down 19% year-over-year (CFO)
• Gross cash use $31.3 million, including $30.8 million operating cash use and $0.5 million CapEx (CFO)
• Total liquidity $206 million at quarter-end: $81 million cash, equivalents, marketable securities plus $125 million undrawn facility (CFO)
• Unveiled Eve 1 high-precision laser displacement sensors targeting >$4 billion market with >2 million annual units (CEO)
• Booked first orders of over 1,000 Eve 1 sensors; initial shipments to select customers already started (CEO)
• Secured multiple strategic industrial automation customers including SICK AG and LMI Technologies (CEO)
• Sensys Gatso selected Aeva as exclusive LiDAR supplier for new mobile speed detection products in Australia (CEO)
• Announced strategic collaboration with a Global Fortune 500 company technology subsidiary; partner to invest up to $50 million ($32.5 million equity, up to $17.5 million joint development revenue/capital investments) (CEO)
• Global top 10 passenger OEM development program kicked off; first milestone around integration achieved (CEO)
• Partner selected as Tier 2 manufacturing partner for the top 10 passenger OEM program (CEO)

Official Guidance

• Full-year 2025 revenue growth: at least 80% to 100% year-over-year vs. 2024 (CFO)
• Full-year 2025 non-GAAP operating expense: plan to reduce 10% to 20% year-over-year (CFO)
• Note: Guidance does not yet incorporate the strategic collaboration announced today (CFO)

Mgmt Quotes

• “We have never been in a stronger position to continue executing on this significant interest in Aeva's unique FMCW technology.” (CEO)
• “We believe we can scale manufacturing while continuing to win additional business and lower total spend.” (CFO)
• “We continue to believe that we are at an inflection in our commercial momentum as we make significant progress with the global top 10 passenger OEM and secure major customers across an expanding list of applications.” (CEO)
• “This strategic collaboration marks another significant validation from a highly respected technology and manufacturing leader that Aeva's differentiated FMCW tech is a future for the industry.” (CEO)
• “We are very encouraged by the significant commercial momentum and positive feedback we are already receiving with leading industrial automation companies.” (CEO)

Prepared Metrics