MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, announced today that one of the top global automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for its series production vehicle program. To Aeva’s knowledge, the production win represents one of the largest automotive series production awards in its class. The selection positions Aeva to become a trusted direct Tier 1 supplier to automotive OEMs globally. “ This win is a defin ...

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Aeva reported total assets of $265,700 thousand, a $104,400 thousand net loss for nine months, and increased cash used in operations, with recent financing bolstering liquidity [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Aeva's balance sheet shows total assets decreased to $265,658 thousand, driven by reduced cash and marketable securities, with corresponding declines in liabilities and equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $40,550 | $67,420 | | Marketable securities | $193,141 | $256,392 | | Total current assets | $242,772 | $335,123 | | Total assets | $265,658 | $356,632 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $14,729 | $21,827 | | Total liabilities | $19,252 | $26,706 | | Total stockholders' equity | $246,406 | $329,926 | | Total liabilities and stockholders' equity | $265,658 | $356,632 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Aeva's statements of operations show Q3 2023 revenue decreased 41% to $810 thousand with a $33,238 thousand net loss, and a $104,367 thousand net loss for the nine-month period Statement of Operations Summary (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $810 | $1,374 | $2,701 | $4,004 | | Gross Loss | $(1,715) | $(1,391) | $(5,014) | $(1,127) | | Operating Loss | $(35,496) | $(37,802) | $(110,943) | $(107,560) | | Net Loss | $(33,238) | $(36,503) | $(104,367) | $(104,631) | | Net Loss Per Share | $(0.15) | $(0.17) | $(0.47) | $(0.48) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased to $246,406 thousand, primarily due to a $104,367 thousand net loss, partially offset by stock-based compensation - Total stockholders' equity decreased by **$83,500 thousand** during the first nine months of 2023, from **$329,900 thousand** to **$246,400 thousand**[16](index=16&type=chunk) - The primary drivers of the change in equity were a net loss of **$104,400 thousand** and stock-based compensation of **$18,200 thousand** for the nine months ended September 30, 2023[16](index=16&type=chunk)[59](index=59&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flow statements show net cash used in operating activities increased to **$91,492 thousand**, with a net decrease in cash and cash equivalents of **$26,870 thousand** for the nine-month period Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(91,492) | $(83,093) | | Net cash provided by investing activities | $64,532 | $134,479 | | Net cash (used in) provided by financing activities | $90 | $(311) | | **Net (decrease) increase in cash** | **$(26,870)** | **$51,075** | | **Ending cash and cash equivalents** | **$40,550** | **$117,885** | [Notes to the Condensed Financial Statements (Unaudited)](index=9&type=section&id=Notes%20to%20the%20Condensed%20Financial%20Statements%20(Unaudited)) Notes detail Aeva's FMCW 4D LiDAR technology, liquidity assessment, revenue concentration, and subsequent financing events including a **$21,400 thousand** private placement and **$125,000 thousand** standby equity agreement - The company designs a 4D LiDAR-on-chip using Frequency Modulated Continuous Wave (FMCW) sensing technology for applications in automated driving, industrial automation, and consumer electronics[22](index=22&type=chunk) - Management believes existing cash, cash equivalents, and marketable securities of **$233,700 thousand** are sufficient to fund operations and capital expenditures for at least 12 months from the financial statement issuance date[29](index=29&type=chunk) - In Q3 2023, two customers accounted for **40%** and **11%** of revenue, respectively. For the nine-month period, two customers accounted for **27%** and **13%** of revenue[36](index=36&type=chunk)[37](index=37&type=chunk) - In November 2023, the company raised **$21,400 thousand** through a private placement of common stock with Sylebra Capital and Adage Capital Management[69](index=69&type=chunk) - The company entered into a Standby Equity Purchase Agreement with Sylebra, providing the right to sell up to **$125,000 thousand** of preferred stock, contingent on achieving certain commercial milestones[70](index=70&type=chunk)[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **41%** Q3 2023 revenue decline due to reduced engineering services, widened gross loss, and slightly lower operating expenses, with liquidity bolstered by **$233,700 thousand** in cash and recent financing [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Q3 2023 revenue decreased **41%** to **$810 thousand** due to reduced engineering services, while the nine-month gross loss widened significantly to **$5,014 thousand** due to increased cost of revenue Q3 2023 vs Q3 2022 Financial Comparison (in thousands) | Account | Q3 2023 | Q3 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $810 | $1,374 | $(564) | (41)% | | Gross Loss | $(1,715) | $(1,391) | $(324) | 23% | | R&D Expenses | $23,787 | $26,123 | $(2,336) | (9)% | | Net Loss | $(33,238) | $(36,503) | $3,265 | (9)% | - The Q3 revenue decrease was primarily due to a reduction in activity related to non-recurring engineering services, partially offset by an increase in prototype unit sales[100](index=100&type=chunk) Nine Months 2023 vs 2022 Financial Comparison (in thousands) | Account | Nine Months 2023 | Nine Months 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $2,701 | $4,004 | $(1,303) | (33)% | | Cost of Revenue | $7,715 | $5,131 | $2,584 | 50% | | Gross Loss | $(5,014) | $(1,127) | $(3,887) | 345% | | Operating Loss | $(110,943) | $(107,560) | $(3,383) | 3% | - The increase in cost of revenue for the nine-month period was primarily due to higher manufacturing overhead costs from scaling third-party contract manufacturing and an increase in prototype sales[109](index=109&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) Aeva's liquidity includes **$233,700 thousand** in cash and marketable securities, an accumulated deficit of **$414,600 thousand**, and recent financing of **$21,400 thousand** private placement and **$125,000 thousand** standby equity - As of September 30, 2023, Aeva had cash, cash equivalents, and marketable securities totaling **$233,700 thousand**[116](index=116&type=chunk) - The company has an accumulated deficit of **$414,600 thousand** as of September 30, 2023, and expects to continue incurring operating losses due to investments in the business[118](index=118&type=chunk) - In November 2023, Aeva entered into agreements for a **$21,400 thousand** private placement and a standby equity purchase agreement for up to **$125,000 thousand** of preferred stock[119](index=119&type=chunk) - Net cash used in operating activities for the nine months ended September 30, 2023, was **$91,500 thousand**[120](index=120&type=chunk)[121](index=121&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to the company's market risk exposure, primarily interest rate fluctuations, have occurred since the 2022 Form 10-K filing - There has been no material change in the company's exposure to market risks since the 2022 Form 10-K[128](index=128&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting - Based on an evaluation as of September 30, 2023, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[129](index=129&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[130](index=130&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to ordinary course legal proceedings, recording liabilities when losses are probable and estimable - The company is subject to legal proceedings from time to time in the ordinary course of business and records liabilities for loss contingencies when probable and estimable[134](index=134&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the company's risk factors since the 2022 Form 10-K filing - No material changes have been made to the company's risk factors since the filing of the 2022 Form 10-K[135](index=135&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Recent issuances of common stock, preferred stock, and warrants are exempt from Securities Act registration under Section 4(a)(2) and Regulation D - The issuance and sale of securities related to the recent private placement and financing agreements are exempt from registration under the Securities Act[136](index=136&type=chunk) [Other Information](index=31&type=section&id=Item%205.%20Other%20Information) No other information was reported for this item - None[139](index=139&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate documents and officer certifications

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR Mountain View, CA 94043 (Address of principal executive offices) (Zip Code) (I.R.S. Employer Identification No.) Registrant's telephone number, including area code: (650) 481-7070 Securities registered pursuant to Section 12(b) of the Act: ☐ TRANSITION REPORT PURSUANT TO SECTION 13 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-39204 (I.R.S. Employer Identification No.) Registrant's telephone number, including area code: (650) 48 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39204 AEVA TECHNOLOGIES, INC. (Exact name of Registrant as specified in its Charter) Delaware 84-3080757 (State or other jurisdiction ...