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Aeva(AEVA) - 2025 Q1 - Quarterly Results
AEVAAeva(AEVA)2025-05-14 20:10

Financial Performance - Achieved record product revenue of 3.4millioninQ12025,upfrom3.4 million in Q1 2025, up from 2.1 million in Q1 2024, representing a 61.9% increase[12] - GAAP operating loss decreased to 30.4millioninQ12025from30.4 million in Q1 2025 from 37.3 million in Q1 2024, a reduction of 18.5%[12] - Non-GAAP net loss per share improved to 0.45inQ12025from0.45 in Q1 2025 from 0.56 in Q1 2024[12] - The company reported a net loss of 34.867millionforthethreemonthsendedMarch31,2025,comparedtoanetlossof34.867 million for the three months ended March 31, 2025, compared to a net loss of 35.326 million for the same period in 2024, reflecting a slight improvement[23] - Non-GAAP net loss for the same period was 24.903million,downfrom24.903 million, down from 29.628 million year-over-year, indicating a reduction in losses[26] - Basic and diluted GAAP net loss per share improved to (0.64)from(0.64) from (0.67) year-over-year[27] Cash Flow and Liquidity - Cash, cash equivalents, and marketable securities totaled 81.0millionasofMarch31,2025[6]−Thecompanyexperiencedanetcashusedinoperatingactivitiesof81.0 million as of March 31, 2025[6] - The company experienced a net cash used in operating activities of 30.792 million, slightly better than the 30.962millionusedintheprioryear[23]−Cashflowsfrominvestingactivitiesprovided30.962 million used in the prior year[23] - Cash flows from investing activities provided 23.322 million, compared to 22.036millioninthepreviousyear,showinganincreaseincashgeneratedfrominvestments[23]−Theendingcashandcashequivalentsdecreasedto22.036 million in the previous year, showing an increase in cash generated from investments[23] - The ending cash and cash equivalents decreased to 21.211 million from 29.605millionyear−over−year,indicatingadeclineinliquidity[23]StrategicInitiatives−IntroducedAevaEve1D,theindustry′sfirstFMCWhigh−precisionlaserdisplacementsensorforindustrialautomation,withinitialordersexceeding1,000sensors[5]−SignedastrategiccollaborationandinvestmentagreementwithaGlobalFortune500technologysubsidiary,withaninvestmentofupto29.605 million year-over-year, indicating a decline in liquidity[23] Strategic Initiatives - Introduced Aeva Eve 1D, the industry's first FMCW high-precision laser displacement sensor for industrial automation, with initial orders exceeding 1,000 sensors[5] - Signed a strategic collaboration and investment agreement with a Global Fortune 500 technology subsidiary, with an investment of up to 50 million to expand into new markets[5] - Entered the intelligent transportation systems (ITS) market, becoming the exclusive LiDAR supplier for Sensys Gatso Australia's new mobile speed detection products[5] - Achieved the first milestone for a development program with a global top 10 passenger OEM, positioning for a large-scale production program[5] - The company is focusing on reducing operating losses and improving cash flow through strategic investments and cost management initiatives[24] Asset and Liability Management - Total current assets decreased to 91.8millionasofMarch31,2025,downfrom91.8 million as of March 31, 2025, down from 123.3 million as of December 31, 2024[19] - Total liabilities decreased to 45.7millionasofMarch31,2025,comparedto45.7 million as of March 31, 2025, compared to 48.1 million as of December 31, 2024[19] Stock and Compensation - Stock-based compensation for the three months ended March 31, 2025, was 4.564million,downfrom4.564 million, down from 5.261 million in the same period of 2024[26] - The company reported a change in the fair value of warrant liabilities of 5.400millionforthecurrentperiod,comparedto5.400 million for the current period, compared to 437,000 in the prior year[26] - The number of shares used in computing GAAP net loss per share increased to 54,750,088 from 52,742,725 in the previous year[27]