Business
Aeva Reports Fourth Quarter and Full Year 2022 Results
Selected by top-10 global OEM for vehicle development Progressing on a growing number of vehicle programs to advanced / RFQ stage Completed core development
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nSelected by top-10 global OEM for vehicle development\n\nProgressing on a growing number of vehicle programs to advanced / RFQ stage\n\nCompleted core development of LiDAR on chip perception platform for industrial automation\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced its fourth quarter and full year 2022 results.\n\nKey Company Highlights\n\n\nSuccessful launch of Aeries II, with shipments to 40+ customers in 2022\n\n\nSelected by a top-10 global OEM for development program, which defines specifications for production vehicles targeting 2025 start of production\n\n\nProgressing on a growing number of vehicle programs to the advanced or RFQ stage with leading OEMs\n\n\nCompleted core development of LiDAR on chip perception platform for existing customers and additional opportunities in industrial automation\n\n\n“Aeva achieved important commercial milestones in 2022 that are enabling us to further our momentum in 2023,” said Soroush Salehian, Co-Founder and CEO at Aeva. “It has been an exciting start to the year, with the selection by a top-10 global OEM for development towards production and meaningful progress on other customer engagements. Our focus in 2023 is on securing new wins as we continue on our vision of bringing the next generation of perception to the market.”\n\nFourth Quarter and Full Year 2022 Financial Highlights\n\n\nCash, Cash Equivalents and Marketable Securities\n\n\nCash, cash equivalents and marketable securities of $323.8 million as of December 31, 2022\n\n\n\n\nRevenue\n\n\nRevenue of $0.2 million in Q4 2022, which includes revenue of $4.1 million partially offset by an adjustment of $3.9 million for an existing customer‘s contract modification. This compares to revenue of $2.9 million in Q4 2021\n\n\nRevenue of $4.2 million for full year 2022, which includes revenue of $8.1 million partially offset by an adjustment of $3.9 million for an existing customer‘s contract modification. This compares to revenue of $9.3 million for full year 2021\n\n\n\n\nGAAP and Non-GAAP Operating Loss*\n\n\nGAAP operating loss of $44.4 million in Q4 2022, compared to GAAP operating loss of $31.9 million in Q4 2021\n\n\nGAAP operating loss of $152.0 million for full year 2022, compared to GAAP operating loss of $104.2 million ...