Aeva Reports Second Quarter 2026 Results

About this update from Aeva Technologies, Inc.

Aeva ® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced its second quarter 2026 results. Key Company Highlights Launched Optical Connectivity business, using Aeva’s proprietary high-power optical source technology for next-generation AI data centers. Signed joint development agreement with major customer to use Aeva’s high-power optical source technology in a Near-Packaged Optics (NPO) solution for a hyperscaler with initial deployment targeted for second-half 2027 and production ramp targeted for 2028 Commercial vehicle ADAS leader Bendix selected Aeva’s 4D LIDAR and perception software for development of the next generation of its ADAS solution available on most major Class 8 truck platforms in North America Continued to achieve milestones for key automotive programs, including Daimler Truck, top 10 European passenger OEM and NVIDIA DRIVE Hyperion, and advance on additional opportunities for passenger vehicle and commercial vehicle applications SICK launched its first Eve powered sensor for industrial sensing applications as part of a strategic collaboration to scale Aeva’s technology across its product portfolio and also named Aeva its 2026 Supplier of the Year for Innovation and Collaboration Strengthened balance sheet with $115M follow-on offering to further position Aeva to accelerate growth “With the launch of Optical Connectivity, Aeva is expanding into another new market where we can leverage our proprietary photonics technology developed over the past decade to enable next-generation AI data centers,” said Soroush Salehian, Co-founder and CEO at Aeva. “It demonstrates how Aeva’s differentiated technology continues to open vast opportunities beyond traditional sensing, and we are off to a strong start with a first customer agreement already signed. Beyond this, we continue to make good progress on existing customers programs, securing additional opportunities across multiple markets and scaling manufacturing to meet the growing demand for Aeva’s technology.” Second Quarter 2026 Financial Highlights Total Available Liquidity Total available liquidity of $302.9 million as of June 30, 2026, consisting of $177.9 million in cash, cash equivalents and marketable securities and $125.0 million in an available facility Revenue Revenue of $6.1 million in Q2 2026, compared to revenue of $5.5 million in Q2 2025 GAAP and Non-GAAP Operating Loss* GAAP operating loss of $34.6 million in Q2 2026, compared to GAAP operating loss of $34.9 million in Q2 2025 Non-GAAP operating loss of $26.0 million in Q2 2026, compared to non-GAAP operating loss of $25.1 million in Q2 2025 GAAP and Non-GAAP Net Loss per Share* GAAP net loss per share of $1.23 in Q2 2026, compared to GAAP net loss per share of $3.49 in Q2 2025 Non-GAAP net loss per share of $0.41 in Q2 2026, compared to non-GAAP net loss per share of $0.44 in Q2 2025 Shares Outstanding Weighted average shares outstanding of 64.7 million in Q2 2026 *Tables reconciling GAAP to non-GAAP measures are provided at the end of this release. CFO Transition Following six years of service with the company, CFO Saurabh Sinha will be moving on from Aeva to pursue a new opportunity outside of the sensing industry on September 5, 2026. The company has already initiated a search for a permanent successor and will announce the appointment once finalized. Rupesh Maheshwari, Aeva’s VP Corporate Controller will serve as Interim CFO following Mr. Sinha’s departure. Mr. Maheshwari, has served as the Company’s VP Corporate Controller, since joining the company in December 2025. He brings more than 20 years of finance leadership experience, having previously held leadership roles at Waabi, Covariant, Logitech and Fundbox. Mr. Sinha will work closely with Mr. Maheshwari to ensure a seamless transition during this period. Conference Call Details Aeva will host a conference call and live webcast to discuss results at 2:00 p.m. PT / 5:00 p.m. ET today, August 5, 2026. The live webcast and replay can be accessed at investors.aeva.com. About Aeva Technologies, Inc. (Nasdaq: AEVA) Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving, manufacturing automation and smart infrastructure, to robotics and consumer devices. Aeva is accelerating autonomy with its groundbreaking perception platform that integrates lidar-on-chip technology, system-on-chip processing, and perception algorithms onto silicon leveraging silicon photonics. Aeva 4D LiDAR sensors uniquely detect velocity and position simultaneously, allowing automated devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com , or connect with us on X or LinkedIn . Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Omni, Aeva CityOS, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners. Forward looking statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements include, but are not limited to expectations about product development, product features, performance, the timing of production, and market adoption. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history, (iii) Aeva’s ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the timing of any orders for the Company’s solutions, which will not be under our control, (v) the risk that automotive OEMs may not pursue or adopt the platform as currently anticipated, if at all, (vi) the risk that markets will not accept products of automotive OEMs or of manufacturers in other industries that use our technologies, (vii) the risk that additional markets will not be receptive to Aeva’s technology, (viii) the risk that new customer contracts will not result in commercial scale shipments, (ix) supply chain and manufacturing issues, (x) unforeseen errors or defects, (xi) market acceptance of LiDAR technology and autonomous driving, (xii) general economic conditions, including tariffs, and other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Quarterly Reports on Form 10-Q and our most recent Annual Report on Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations. Non-GAAP Information In addition to our financial results determined in accordance with U.S. GAAP, we present non-GAAP operating loss and non-GAAP net loss per share. “Non-GAAP operating loss” is defined as GAAP operating loss before stock-based compensation and loss on joint development agreement. “Non-GAAP net loss per share” is defined as non-GAAP net loss divided by weighted average shares outstanding, basic and diluted. “Non-GAAP net loss” is defined as GAAP net loss before stock-based compensation, loss on joint development agreement, change in fair value of warrant liabilities and fair value loss on share subscription liability. We believe that non-GAAP operating loss and non-GAAP net loss per share, when taken together with the corresponding U.S. GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, results of operations, or outlook. We consider non-GAAP operating loss and non-GAAP net loss per share to be important measures because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations, including that they exclude certain expenses that are required under GAAP, which adjustments reflect the exercise of judgment by management. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures or ratios differently or may use other financial measures or ratios to evaluate their performance, all of which could reduce the usefulness of non-GAAP operating loss and non-GAAP net loss per share as tools for comparison. Reconciliations are provided at the end of this release to the most directly comparable financial measures in accordance with U.S. GAAP. Investors are encouraged to review our U.S. GAAP financial measures and not to rely on any single financial measure to evaluate our business.   AEVA TECHNOLOGIES, INC. Condensed Consolidated Balance Sheets (Unaudited) (In thousands)   June 30, 2026 December 31, 2025   Assets Current assets Cash and cash equivalents $ 43,235   $ 72,291   Marketable securities   134,654     49,608   Accounts receivable, net   3,712     3,363   Inventories   5,709     5,787   Other current assets   16,390     22,476   Total current assets   203,700     153,525   Operating lease right-of-use assets   4,883     5,480   Property, plant and equipment, net   12,399     12,845   Intangible assets, net   375     825   Other noncurrent assets   6,437     7,026   Total assets $ 227,794   $ 179,701   Liabilities and stockholders’ equity Current liabilities Accounts payable $ 7,298   $ 5,885   Accrued liabilities   9,483     12,063   Accrued employee costs   3,958     13,945   Lease liability, current portion   2,031     1,488   Other current liabilities   3,193     2,488   Total current liabilities   25,963     35,869   Lease liability, noncurrent portion   3,444     4,213   Convertible notes   96,896     96,693   Warrant liabilities   73,961     29,711   Total liabilities   200,264     166,486   Stockholders’ equity Common stock   7     6   Additional paid-in capital   899,503     770,502   Accumulated other comprehensive loss   (88 )   (4 ) Accumulated deficit   (871,892 )   (757,289 ) Total stockholders’ equity (deficit)   27,530     13,215   Total liabilities and stockholders’ equity $ 227,794   $ 179,701     AEVA TECHNOLOGIES, INC. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data)   Three Months Ended June 30,   Six Months Ended June 30,   2026       2025       2026       2025   Revenues:         Product $ 2,546   $ 4,203   $ 4,973   $ 6,684   Professional service   3,590     1,308     7,425     2,195   Total revenues   6,136     5,511     12,398     8,879   Cost of revenues: Product (1)   2,614     3,992     5,651     6,575   Professional service (1)   1,333     4,239     2,617     4,714   Total cost of revenues   3,947     8,231     8,268     11,289   Gross profit     2,189     (2,720 )   4,130     (2,410 ) Operating expenses: Research and development expenses (1)     24,889     22,841     47,715     44,410   General and administrative expenses (1)   10,216     7,969     22,568     15,186   Selling and marketing expenses (1)     1,644     1,393     3,543     3,335   Total operating expenses   36,749     32,203     73,826     62,931   Loss from operation   (34,560 )   (34,923 )   (69,696 )   (65,341 ) Interest income   893     619     1,770     1,626   Change in fair value of warrant liabilities   (44,700 )   (88,478 )   (44,250 )   (93,878 ) Fair value loss on share subscription liability   —     (69,996 )   —     (69,996 ) Interest expense   (1,196 )   —     (2,379 )   —   Other income, net   (3 )   106     42     107   Net loss before taxes $ (79,566 ) $ (192,672 ) $ (114,513 ) $ (227,482 ) Income tax provision   58     70     90     127   Net loss $ (79,624 ) $ (192,742 ) $ (114,603 ) $ (227,609 ) Net loss per share Basic and diluted $ (1.23 ) $ (3.49 ) $ (1.80 ) $ (4.14 ) Weighted-average shares used in computing net loss per share Basic and diluted   64,672,666     55,161,124     63,745,534     54,956,722     (1) Includes stock-based compensation as follows:   Three Months Ended June 30,   Six Months Ended June 30,   2026       2025       2025       2024   Cost of revenues $ 112   $ 32   $ 343   $ 63   Research and development expenses     4,927       3,434       8,925       6,411   General and administrative expenses   2,987     2,349     7,988     3,725   Selling and marketing expenses     487       209       622       389   Total stock-based compensation expense $ 8,513   $ 6,024   $ 17,878   $ 10,588     AEVA TECHNOLOGIES, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) Six Months Ended June 30,   2026     2025   Cash flows from operating activities: Net loss $ (114,603 ) $ (227,609 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization   2,579     2,716   Loss on joint development agreement   —     3,785   Impairment of inventories   —     134   Issuance of shares for Convertible note interest payment   2,297     —   Change in fair value of warrant liabilities   44,250     93,878   Fair value loss on share subscription liability   —     69,996   Stock-based compensation   17,878     10,588   Amortization of right-of-use assets   1,129     1,830   Amortization of premium and accretion of discount on available-for-sale securities, net   (1,024 )   (795 ) Accretion of convertible notes issuance cost   203     —   Changes in operating assets and liabilities: Accounts receivable, net   (349 )   (2,709 ) Inventories   78     (1,448 ) Other current assets   586     2,849   Other noncurrent assets   589     505   Accounts payable   1,992     (1,779 ) Accrued liabilities   (2,580 )   (2,940 ) Accrued employee costs   (9,987 )   (3,337 ) Lease liability   (758 )   (1,932 ) Other current liabilities   705     (5,820 ) Other noncurrent liabilities   —     1,472   Net cash used in operating activities   (57,015 )   (60,616 ) Cash flows from investing activities: Purchase of property, plant and equipment   (2,410 )   (1,825 ) Purchase of available-for-sale securities     (148,072 )     (23,369 ) Proceeds from maturities of available-for-sale securities   63,966     79,149   Net cash (used in) provided by investing activities   (86,516 )   53,955   Cash flows from financing activities: Proceeds from issuance of common stock in connection with public offering   114,999     —   Transaction costs related to issuance of common stock   (5,750 )   —   Proceeds from equity-related funding in connection with the JDA   5,500     —   Payments of taxes withheld on net settled vesting of restricted stock units   —     (578 ) Transaction costs related to issuance of convertible notes   (297 )   —   Proceeds from exercise of stock options   23     118   Net cash provided by (used in) financing activities     114,475       (460 ) Net decrease in cash and cash equivalents   (29,056 )   (7,121 ) Beginning cash and cash equivalents   72,291     28,864   Ending cash and cash equivalents $ 43,235   $ 21,743     AEVA TECHNOLOGIES, INC. Reconciliation of GAAP to Non-GAAP Operating Results (Unaudited) (In thousands, except share and per share data)   Reconciliation from GAAP to non-GAAP operating loss Three Months Ended June 30,   Six Months Ended June 30,   2026       2025       2026       2025     GAAP operating loss   $ (34,560 )   $ (34,923 )   $ (69,696 )   $ (65,341 ) Stock-based compensation     8,513       6,024       17,878       10,588   Loss on joint development agreement     —       3,785       —       3,785   Non-GAAP operating loss $ (26,047 ) $ (25,114 ) $ (51,818 ) $ (50,968 )   Reconciliation from GAAP to non-GAAP net loss Three Months Ended June 30,   Six Months Ended June 30,   2026       2025       2026       2025     GAAP net loss   $ (79,624 )   $ (192,742 )   $ (114,603 )   $ (227,609 ) Stock-based compensation   8,513     6,024     17,878     10,588   Loss on joint development agreement     —       3,785       —       3,785   Change in fair value of warrant liabilities   44,700     88,478     44,250     93,878   Fair value loss on share subscription liability     —       69,996       —       69,996   Non-GAAP net loss $ (26,411 ) $ (24,459 ) $ (52,475 ) $ (49,362 )   Reconciliation between GAAP and non-GAAP net loss per share Three Months Ended June 30,   Six Months Ended June 30,   2026       2025       2026       2025   Shares used in computing GAAP net loss per share:                 Basic and diluted   64,672,666     55,161,124     63,745,534     54,956,722   GAAP net loss per share                 Basic and diluted $ (1.23 ) $ (3.49 ) $ (1.80 ) $ (4.14 ) Stock-based compensation     0.13       0.11       0.29       0.19   Loss on joint development agreement   —     0.07     —     0.07   Change in fair value of warrant liabilities     0.69       1.60       0.69       1.71   Fair value loss on share subscription liability   —     1.27     —     1.27   Non-GAAP net loss per share                 Basic and Diluted $ (0.41 ) $ (0.44 ) $ (0.82 ) $ (0.90 )   View source version on businesswire.com: https://www.businesswire.com/news/home/20260805379581/en/

View stock analysis, news, and events for Aeva Technologies, Inc.