Aeva(AEVA) - 2024 Q4 - Annual Results

Revenue Performance - Aeva reported Q4 2024 revenue of $2.7 million, up 68.8$1.6 million in Q4 2023[6] - Full year 2024 revenue reached $9.1 million, a 111.6$4.3 million in 2023[11] - Revenue for Q4 2024 was $2,696 million, a 67.3$1,611 million in Q4 2023[21] - The company expects 2025 revenue to be between $15 million and$18 million, representing a growth of approximately 70% to 100% year-over-year[7] Financial Position - Aeva has a cash position of $112.0 million and an available facility of$125.0 million as of December 31, 2024[6] - Ending cash and cash equivalents for 2024 were $28,864 million, down from$38,547 million in 2023[23] Operating Losses - GAAP operating loss for Q4 2024 was $34.2 million, an improvement from a loss of$36.8 million in Q4 2023[11] - Non-GAAP operating loss for full year 2024 was $123.2 million, slightly improved from a loss of$124.1 million in 2023[11] - Non-GAAP operating loss for Q4 2024 was $(27,661) million, an improvement from$(31,323) million in Q4 2023[25] - Net loss for the year 2024 was $(152,261) million, compared to$(149,333) million in 2023, indicating a 1.3% increase in losses[23] - Aeva's accumulated deficit increased to $611.9 million as of December 31, 2024, compared to$459.6 million in 2023[19] Expenses - Total operating expenses for the year 2024 were $154,582 million, up from$141,902 million in 2023, representing an increase of 8.7%[21] - Cash used in operating activities for the year 2024 was $(106,913) million, a decrease from$(118,826) million in 2023[23] - Research and development expenses for the year 2024 were $102,667 million, slightly up from$102,503 million in 2023[21] - Stock-based compensation expense for the year 2024 was $23,708 million, compared to$23,675 million in 2023[26] Product Development - Aeva was selected by a global top 10 passenger OEM for the joint development of the Aeva Atlas Ultra 4D LiDAR, with a letter of intent for large-scale production expected this year[5] - The company is on track with Daimler Truck's production program, having met all development milestones in 2024[5] - Aeva's Atlas Ultra 4D LiDAR offers 3x the resolution and is 35% slimmer than the standard Atlas, enhancing integration for passenger cars[5] Earnings Per Share - Net loss per share for Q4 2024 was $(0.67), an improvement from$(0.92) in Q4 2023[27] Gross Loss - Gross loss for Q4 2024 was $(829) million, slightly improved from$(872) million in Q4 2023[21]