Core Viewpoint - Aeva Technologies is experiencing a significant decline in stock price following its Q3 2025 financial results, which, despite beating revenue expectations, fell short on earnings, leading to a revised bearish outlook from analysts [1][4][5]. Financial Performance - Aeva reported Q3 2025 revenue of $3.6 million, exceeding analysts' expectations of $2.8 million [4]. - The company reported an adjusted loss per share of $0.46, which was $0.01 below analysts' expectations [4]. Stock Market Reaction - Aeva's shares have dropped 25.3% from the end of trading last Friday to Thursday afternoon [2]. - Roth Capital has revised its price target for Aeva stock from $25 to $20 while maintaining a buy rating [5]. Investment Considerations - Aeva is currently unprofitable, making traditional valuation metrics less applicable [6]. - Investors bullish on the automation industry may find Aeva stock appealing, especially with its ongoing deal with Daimler Truck [6]. - For those with lower risk tolerance, investing in a self-driving car exchange-traded fund (ETF) may be a more suitable option [6][7].

Group 1 - Aeva Technologies has reached a turning point with its FMCW LiDAR technology, providing a competitive advantage over traditional time-of-flight competitors [1] - The company has transitioned from being stuck in prototype revenue for many years to a more promising phase [1] Group 2 - Aeva's advancements indicate a shift in its business model and potential for growth in the LiDAR market [1]

Core Insights - Aeva Technologies, Inc. specializes in advanced sensing and perception systems for autonomous vehicles, aiming to enhance safety and efficiency in autonomous driving [1] - The company reported a quarterly loss of $0.46 per share, slightly missing the Zacks Consensus Estimate of a $0.45 loss [2][6] - Aeva achieved a positive revenue surprise with $3.58 million for the quarter, exceeding the Zacks Consensus Estimate by 24.14% and marking a significant increase from $2.25 million a year ago [3][6] Financial Metrics - Aeva has a price-to-earnings (P/E) ratio of approximately -2.51, indicating it is not currently profitable [4] - The price-to-sales ratio stands at about 56.14, suggesting investors are paying $56.14 for every dollar of sales [4] - The enterprise value to operating cash flow ratio is approximately -7.04, indicating negative cash flow from operations [4] - The company's debt-to-equity ratio is approximately -0.015, suggesting more equity than debt, which can be a positive sign [5] - The current ratio is around 0.65, indicating potential liquidity challenges in covering short-term liabilities [5] Management Actions - CEO Dardashti Soroush Salehian sold 39,702 shares at approximately $13.64 per share, leaving him with 2,093,455 shares [2][6]

Company Performance - Aeva Technologies reported a quarterly loss of $0.46 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.45, but an improvement from a loss of $0.55 per share a year ago [1] - The company posted revenues of $3.58 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 24.14%, compared to revenues of $2.25 million in the same quarter last year [2] - Over the last four quarters, Aeva has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Aeva Technologies shares have increased approximately 190.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 15.1% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.42 on revenues of $6.6 million, and for the current fiscal year, it is -$1.76 on revenues of $18.37 million [7] Industry Outlook - The Automotive - Original Equipment industry, to which Aeva belongs, is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Aeva's stock performance [5]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $3.6 million, driven by ongoing sensor shipments and non-recurring engineering (NRE) contributions [16] - Non-GAAP operating loss decreased by 13% year-over-year to $27.2 million, reflecting a target to reduce full-year 2025 non-GAAP operating expenses by 10%-20% [16] - Gross cash use was $33.6 million in Q3, higher than the previous quarter due to timing of payments and working capital adjustments [16] - Total available liquidity at the end of September was $173.9 million, excluding a new $100 million investment from Apollo Global Management [16][17] Business Line Data and Key Metrics Changes - Aeva completed the development program with a top 10 global passenger OEM ahead of schedule and is in late-stage contract negotiations for a series production award [4][10] - Progress was made on the Daimler Truck production program, with initial vehicle builds completed and initial orders received for 2026 shipments [12] - The EVE 1D sensor has started shipping against initial orders of over 1,000 units, and the EVE 1V sensor was unveiled to expand the product line [5][13] Market Data and Key Metrics Changes - The precision sensing market is projected to be a multi-billion-dollar opportunity, with strong initial orders for the EVE 1V sensor from multiple customers [5][24] - The automotive market is seeing increased interest in Aeva's FMCW technology, particularly for Level 3 driving capabilities [10][54] Company Strategy and Development Direction - Aeva is focused on expanding its unified perception platform to meet growing demand across various applications, including automotive and precision sensing [6][18] - The company aims to leverage partnerships, such as with LG Innotek and Apollo Global Management, to enhance its market position and support scaling efforts [6][17] - Aeva's technology transition from Time-of-Flight to FMCW is expected to set a precedent for other OEMs, potentially accelerating interest in FMCW technology [10][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in closing the production program with the top 10 global passenger OEM and highlighted the potential for significant market validation [10][37] - The company anticipates strong momentum into 2026, supported by a robust balance sheet and ongoing commercial traction [6][18] - Management noted that the successful completion of the development program could serve as a blueprint for other OEMs, enhancing Aeva's competitive landscape [10][54] Other Important Information - Aeva announced a $100 million investment from Apollo Global Management in the form of convertible notes, which will provide additional capital for growth [6][17] - The company has established a strong liquidity position of approximately $270 million, enhancing its competitive advantage [18] Q&A Session Summary Question: Can you talk about the ramp in metrology sales? - Management noted strong market traction for the EVE 1D sensor and initial orders for the EVE 1V sensor, with a significant market opportunity projected in the multi-billion-dollar range [20][21][24] Question: Can you discuss the L2 ADAS opportunity in trucking? - Management highlighted the unique opportunity for Aeva's technology in Level 2+ applications, particularly through partnerships with key players like Bendix [26][30][31] Question: What is the timeline for the top 10 OEM program? - Management indicated that the timeline for the launch is on track for late 2027 to early 2028, with ongoing negotiations progressing positively [47][49] Question: What is the intended use of the $100 million investment from Apollo? - The investment is for general corporate purposes, aimed at supporting ongoing growth and capitalizing on market opportunities without significant increases in expenditure [44][45] Question: What factors are driving interest from other major OEMs? - Management cited the successful completion of the development program with the top 10 OEM as a catalyst for increased engagement from other automotive players [50][53]

Third Quarter 2025 Results © 2025 Aeva, Inc. Legal Disclaimer Forward-looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. These 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. Forward-looking s ...

Revenue Performance - Revenue for Q3 2025 was $3.6 million, an increase of 56.5% compared to $2.3 million in Q3 2024[6] - Revenue for the three months ended September 30, 2025, was $3,579 million, a significant increase from $2,250 million in the same period of 2024, representing a growth of 59%[20] Operating Loss - GAAP operating loss for Q3 2025 was $33.2 million, improved from a loss of $37.9 million in Q3 2024[11] - Non-GAAP operating loss for Q3 2025 was $27.2 million, compared to a loss of $31.4 million in Q3 2024[11] - Operating loss for the nine months ended September 30, 2025, was $98,502 million, an improvement from a loss of $124,133 million in the same period of 2024[20] - The company reported a non-GAAP operating loss of $78,189 million for the nine months ended September 30, 2025, compared to a loss of $95,503 million in the same period of 2024[24] Net Income - The company reported a net income of $107,495 million for the three months ended September 30, 2025, compared to a loss of $37,396 million in the same period of 2024[25] - Basic net income (loss) per share for the three months ended September 30, 2025, was $1.86, compared to a loss of $0.70 in the same period of 2024[27] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $48.9 million as of September 30, 2025[6] - Total current assets decreased to $66.4 million from $123.3 million as of December 31, 2024[18] - Cash and cash equivalents at the end of September 30, 2025, were $45,688 million, up from $30,462 million at the end of September 30, 2024[22] - Net cash used in operating activities for the nine months ended September 30, 2025, was $92,928 million, compared to $86,015 million in the same period of 2024[22] Business Developments - Aeva raised $100 million from Apollo Global Management to enhance commercial momentum[3] - The company advanced to late-stage contract negotiations for a large-scale series production award with a Top-10 global passenger OEM[5] - Initial orders were received for the Eve 1V motion sensing product line, expanding into manufacturing automation[5] - AevaScenes, the industry's first FMCW 4D LiDAR open dataset, was released to support research and adoption in autonomous vehicle perception[5] - The first vehicle builds for the Daimler Truck production program were completed, with orders for Atlas C Samples expected in 2026[5] Stock-Based Compensation - Stock-based compensation expense for the nine months ended September 30, 2025, was $16,528 million, slightly down from $17,130 million in the same period of 2024[20] Fair Value Changes - The company experienced a change in fair value of warrant liability, resulting in a gain of $68,524 million for the three months ended September 30, 2025, compared to a loss of $1,263 million in the same period of 2024[25]

Core Viewpoint - Aeva Technologies, Inc. is anticipated to report a year-over-year increase in earnings driven by higher revenues, with the actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The upcoming earnings report is scheduled for November 5, and a better-than-expected performance could lead to a stock price increase, while a miss may result in a decline [2]. - The consensus estimate indicates a quarterly loss of $0.45 per share, reflecting an 18.2% year-over-year change, with revenues projected at $2.88 million, representing a 28% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating that analysts have not significantly reassessed their initial estimates during this period [4]. Earnings Surprise Prediction - Aeva Technologies has a positive Earnings ESP of +5.97%, suggesting that analysts have recently become more optimistic about the company's earnings prospects [12]. - However, the stock holds a Zacks Rank of 4, which complicates the prediction of an earnings beat [12]. Historical Performance - In the last reported quarter, Aeva Technologies was expected to post a loss of $0.44 per share and matched this expectation with an actual loss of -$0.44, resulting in no surprise [13]. - Over the past four quarters, the company has exceeded consensus EPS estimates three times [14]. Conclusion - Aeva Technologies does not appear to be a strong candidate for an earnings beat, and investors should consider additional factors when deciding on their investment strategy ahead of the earnings release [17].

Core Insights - Aeva Technologies' entry into the Intelligent Transportation Systems (ITS) market in 2025 signifies a pivotal shift from its automotive focus, with its 4D LiDAR sensors being utilized in mobile speed enforcement units in Australia to combat speeding, a major contributor to traffic fatalities [1][10] - The partnership with Sensys Gatso Australia, a leader in traffic enforcement with over 60,000 systems globally, underscores the confidence in Aeva's Frequency Modulated Continuous Wave LiDAR technology, which is recognized for its precision and performance in challenging conditions [2][10] - Aeva is expanding its applications beyond speed enforcement to include intelligent software for detecting wrong-way drivers and enhancing traffic flow analysis, positioning itself to redefine mobility data usage in urban environments [3][10] Company Developments - Aeva's Atlas sensor provides real-time, weather-resistant velocity detection, serving as a secondary verification layer alongside radar, achieving a level of accuracy that traditional tools struggle to match [1][2] - The company's LiDAR technology is designed to improve road safety and reduce infrastructure costs for cities, aligning with the global trend towards smarter traffic systems [3] Market Performance - Aeva Technologies' shares have experienced a significant surge of 280% in 2025, indicating strong market interest and investor confidence [8] - However, from a valuation perspective, Aeva trades at a forward price-to-sales ratio exceeding 30, which is considerably higher than the industry average, and carries a Value Score of F [9]

Group 1 - Aeva Technologies, Inc. (NASDAQ:AEVA) has released a multi-sensor FMCW 4D LiDAR and camera dataset for autonomous vehicle research, recognized as the industry's first open dataset [1][2] - The dataset includes features such as semantic segmentations, tracking, lane annotations, and object velocity measurements, providing researchers with highly accurate and dense range sensing data [2] - Aeva designs and produces LiDAR sensing systems and other autonomous driving-related software for vehicles, including electric vehicles (EVs) [3] Group 2 - Management believes the open dataset has the potential to enable researchers to advance current autonomous technology [2] - The company's interactive sensor diagram offers both wide and narrow fields of view for LiDAR and camera systems [2]