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 ...

Financial Data and Key Metrics Changes - Revenue for the year 2024 was $9.1 million, driven by increased sensor shipments to automotive and industrial customers, including the Daimler Truck program [36] - Full year non-GAAP operating loss was $123.2 million, consistent with the plan to keep it flat from the prior year [36] - Aeva ended the year with total available liquidity of $237 million, which includes $112 million in cash and cash equivalents and $125 million in undrawn facilities [37][38] - For 2025, the company targets revenue growth to be in the range of $15 million to $18 million, representing an increase of approximately 70% to 100% year-over-year [39] Business Line Data and Key Metrics Changes - Aeva has achieved significant milestones with its products, including the launch of the Atlas Ultra product, which offers three times the resolution and a wider field of view compared to previous models [22] - The company is seeing increased momentum in industrial robotics and factory automation, with a target to increase industrial sensor shipments by nearly 1,000% in 2025 [26][55] Market Data and Key Metrics Changes - Aeva is positioned in a $10 billion-plus market opportunity in industrial robotics and factory automation, with partnerships with industry leaders like Nikon and SICK AG [26][51] - The company has secured a development program with a global top 10 passenger OEM, which is expected to lead to a large-scale production program later this year [15][17] Company Strategy and Development Direction - Aeva aims to drive the adoption and commercialization of FMCW technology while maintaining strong financial discipline [31] - The company plans to complete its automated and automotive-qualified production line with a capacity for over 100,000 units annually [34] - Aeva is focused on expanding its presence in both automotive and industrial sectors, leveraging its unique FMCW technology [33][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute on its objectives and capitalize on the growing momentum around FMCW technology [35] - The company anticipates record revenues for 2025, with a focus on reducing operating expenses by approximately 10% to 20% year-over-year [34][41] Other Important Information - Aeva's Atlas Ultra product is designed to meet OEM requirements for Level 3 and higher speed applications, showcasing the company's commitment to innovation in the LiDAR space [22][23] - The company has made significant progress in its partnership with Daimler Truck, with plans for production to start in 2026 [20][21] Q&A Session Summary Question: Can you talk about initial targets outside of metrology and the cycle time for design wins? - Management highlighted the excitement around opportunities in robotics and factory automation, indicating a significant market potential [50][55] Question: Can you provide an update on manufacturing progress? - Management confirmed that they are focused on increasing manufacturing capacity to meet growing demand, with a target of 100,000 units per year [58][59] Question: How does the operating expense reduction apply to large programs like the Daimler Truck program? - Management indicated that significant development work has been completed, and they are now focused on scaling production while reducing costs [66][69] Question: What is the expected contribution timeline for the OEM program? - Management stated that the target for the Atlas Ultra start of production is 2027, with expectations for production ramp to follow [78] Question: How does the company feel about its current cash position? - Management expressed confidence in their liquidity, stating that they have a multiyear runway to support production and growth [81][82] Question: What is the general area of the top 10 OEM's headquarters and their operational geographies? - Management confirmed that the OEM is a well-known global brand with significant vehicle production, indicating a large opportunity for collaboration [88][90]