Business
Eve Holding, Inc. Reports First Quarter 2025 Results
Eve Holding, Inc. ("Eve") (NYSE: EVEX and EVEXW) reports its First Quarter 2025 Earnings Results.
About this update from Eve Holding, Inc.
[{"type":"text","content":"MELBOURNE, Fla., May 12, 2025 /PRNewswire/ -- Eve Holding, Inc. ("Eve") (NYSE: EVEX and EVEXW) reports its First Quarter 2025 Earnings Results.","length":153,"tagName":"p"},{"type":"text","content":"Financial highlights","length":20,"tagName":"p"},{"type":"text","content":"Eve Air Mobility is an aerospace company dedicated to the development of an eVTOL (electric Vertical Takeoff and Landing) aircraft and the Urban Air Mobility (UAM) ecosystem that includes aircraft development, Services & Support solutions – TechCare and Vector, an Urban Air Traffic Management (Urban ATM) system. Eve is pre-revenue; we do not expect meaningful revenues, if any, during the development phase of our aircraft, and financial results should be primarily related to costs associated with the program's development during this period.","length":554,"tagName":"p"},{"type":"text","content":"Eve reported a net loss of $48.8 million in 1Q25 versus $25.3 million in 1Q24. The increase in net loss in 1Q25 was primarily driven by higher Research & Development (R&D) expenses, which are costs and activities necessary to advance the development of our suite of products and solutions for UAM, including the Master Service Agreement (MSA) with Embraer. R&D expenses were $44.7 million in 1Q25 vs. $27.5 million in 1Q24, when R&D efforts began to intensify with advancements in the development of our eVTOL – which included purchasing parts and components and the assembling of our first full-scale prototype. Moreover, R&D demanded increased engineering engagement with Embraer, additional program development activities, and testing infrastructure. The MSA primarily drives our R&D costs with Embraer, which performs several critical developmental activities for Eve.","length":914,"tagName":"p"},{"type":"text","content":"SG&A increased to $7.9 million in 1Q25 vs. $6.5 million in 1Q24. The number of direct employees at Eve increased to approximately 180 vs 170 in 1Q24. Additionally, higher payroll-related costs reflect the recognition of Restricted Stock Units to employees, and SG&A also reflects higher outsourced services in the quarter. Lastly, Eve continues to incur pre-operating expenses for our first production site in Taubaté, Brazil. The increase in SG&A was despite the c.13% ...