Business
Aeva Reports Third Quarter 2022 Results
Aeries II driving strong growth in engagements and advancement to RFQ stage on multiple automotive and industrial programs Entered next phase with Nikon for
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nAeries II driving strong growth in engagements and advancement to RFQ stage on multiple automotive and industrial programs\n\nEntered next phase with Nikon for first product, with joint development agreement that defines milestones through to production\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced its third quarter 2022 results.\n\nKey Company Highlights\n\n\nIncreased pace of Aeries II™ production by 300% in the quarter and shipped to 25+ customers\n\n\nSignificant growth in customer engagements since introducing Aeries II, including advancing to RFQ stage on multiple automotive and industrial programs\n\n\nSigned joint development agreement with Nikon, which defines the key development plan and milestones for the first high precision product through to start of production targeting 2024\n\n\nStrengthened Board of Directors with three new members bringing leading expertise in product commercialization, strategy and public company leadership\n\n\nSurpassed 130 granted patents globally, with additional 135 patents pending, further expanding Aeva’s moat and industry-leading portfolio of Frequency Modulated Continuous Wave (FMCW) IP\n\n\n“We are making meaningful progress in scaling up Aeries II to meet the broad customer interest in Aeva’s 4D LiDAR,” said Soroush Salehian, Co-Founder and CEO at Aeva. “Importantly, this is driving significant commercial momentum, as more customers experience first-hand how the unique capabilities and scalability of Aeva’s products can enable next-generation autonomy across automotive, industrial and beyond. We continue to strategically position Aeva as the leader in FMCW technology and remain focused on further scaling manufacturing and on our mission to bring perception to everything.”\n\nThird Quarter 2022 Financial Highlights\n\n\nCash, Cash Equivalents and Marketable Securities\n\n\nCash, cash equivalents and marketable securities of $350.8 million as of September 30, 2022\n\n\n\n\nRevenue\n\n\nRevenue of $1.4 million in Q3 2022, compared to $3.5 million in Q3 2021\n\n\n\n\nGAAP and Non-GAAP Operating Loss*\n\n\nGAAP operating loss of $37.8 million in Q3 2022, compared to GAAP operating loss of $27.4 million in Q3 2021\n\n\nNon-GAAP operating loss of $31.7 million in Q3 2022, compared to non-GAAP ...