Financial Data and Key Metrics Changes - Revenue in Q1 2025 was $3.4 million, marking a record product revenue for the quarter and reflecting continued growth in commercial traction from automotive and industrial customers [22] - Non-GAAP operating loss for Q1 was $25.9 million, which is 19% lower year over year, consistent with the plan to reduce non-GAAP operating expenses by 10% to 20% for the full year [22] - Gross cash use was $31.3 million in the quarter, with operating cash use of $30.8 million and capital expenditures of $0.5 million [22] - Total available liquidity at the end of Q1 was $206 million, including $81 million in cash and cash equivalents and $125 million in undrawn facilities [22] Business Line Data and Key Metrics Changes - The company is seeing strong commercial traction with the EVE ONE line of high precision sensors, with over 1,000 sensors booked and plans to ship later this year [8][12] - The EVE ONE sensors are designed for high volume and inline industrial automation applications, representing a breakthrough in the $4 billion laser displacement sensor market [6][11] - Initial orders for EVE ONE sensors have already started shipping, with significant interest from leading industrial automation companies [12] Market Data and Key Metrics Changes - Aeva has entered the Intelligent Transportation System (ITS) market, securing a partnership with Sensus GATSO as its exclusive LiDAR supplier for mobile speed detection products in Australia [8][19] - The overall addressable market for laser displacement sensors is projected to grow significantly, with annual volumes exceeding 2 million sensors [13] Company Strategy and Development Direction - Aeva's mission is to build a core FMCW technology platform to expand applications beyond automotive, with significant progress in industrial automation and ITS [6][10] - Aeva announced a strategic collaboration with a global Fortune 500 technology subsidiary, which plans to invest up to $50 million to expand Aeva's end markets and deliver advanced perception sensing products [9][16] - The company aims to leverage its strategic partner's manufacturing expertise to accelerate product development and market entry [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to accelerate the adoption of its technology platform and enter new markets, citing strong commercial momentum [25] - The company anticipates at least 80% to 100% revenue growth for the full year compared to 2024, driven by increasing commercial traction across automotive and industrial markets [24][51] Other Important Information - Aeva plans to host an AIVA Day on July 31 in New York City to provide deeper insights into its technology and commercial traction [26] - The company is ramping up manufacturing capacity to meet growing demand for its sensors, targeting an installation capacity of 100,000 units per year [41][60] Q&A Session Summary Question: Can you talk about incremental target markets with the new partner? - Management highlighted the partnership's potential to expand into consumer market applications and accelerate industrial applications, leveraging the partner's scale and experience [30] Question: How is the relationship with SICK evolving? - Management noted a long-standing partnership with SICK, which holds about 15% market share, and expressed confidence in transitioning a significant portion of their portfolio to FMCW technology [34] Question: How long does it take to ramp new customers in the laser displacement sensor market? - Management indicated that while initial engagements take time, subsequent customer onboarding is expected to be much quicker, potentially within months [40] Question: Can you discuss momentum with other passenger OEMs? - Management confirmed ongoing engagements with multiple top passenger OEMs and expressed optimism about transitioning from development to production phases [48] Question: What led to the increase in revenue guidance? - Management attributed the increased guidance to strong momentum in both industrial and automotive markets, with record product revenue in Q1 [51] Question: What is the expected timeline for finishing the manufacturing capacity ramp? - Management confirmed that the goal is to install manufacturing capacity of 100,000 units within the current year [60] Question: Can you recap the remaining milestones for the global top 10 passenger OEM? - Management outlined that the next steps involve integration activities to ensure the sensor design fits across multiple vehicle models, with confidence in transitioning to production [66]

Financial Data and Key Metrics Changes - Revenue in Q1 was $3.4 million, marking a record product revenue for the quarter and reflecting continued growth in commercial traction from automotive and industrial customers [21] - Non-GAAP operating loss was $25.9 million, which is 19% lower year over year, consistent with the plan to reduce non-GAAP operating expenses by 10% to 20% for the full year [21][22] - Total available liquidity at the end of Q1 was $206 million, including $81 million in cash and cash equivalents, and $125 million in undrawn facilities [22][23] - The company anticipates an increase in revenue range to at least 80% to 100% growth for the full year compared to 2024, not including the strategic collaboration announced [24][51] Business Line Data and Key Metrics Changes - The EVE ONE line of high precision sensors was unveiled, targeting the $4 billion laser displacement sensor market, with over 1,000 sensors already booked for shipment later this year [5][6][12] - Strong commercial traction was noted with multiple industry-leading industrial automation companies, including SIG AG and LMI Technologies, which represent over 15% of the market share [11][12][34] - The company is ramping up manufacturing capacity to meet growing demand for EVE ONE sensors, targeting an installation capacity of 100,000 units per year [42][60] Market Data and Key Metrics Changes - AIVA entered the Intelligent Transportation System (ITS) market, securing a partnership with Sensus GATSO as its exclusive LiDAR supplier for mobile speed detection products in Australia [6][19] - The overall addressable market for laser displacement sensors is projected to grow significantly, with annual volumes exceeding 2 million sensors [12] Company Strategy and Development Direction - AIVA's mission is to build a core FMCW technology platform to expand applications beyond automotive, with significant progress in industrial automation and ITS [5][6] - A strategic collaboration with a global Fortune 500 technology subsidiary was announced, involving an investment of up to $50 million to expand AIVA's end markets and deliver advanced perception sensing products [8][16] - The company aims to leverage its strategic partner's manufacturing expertise to accelerate product development and market entry [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to capitalize on significant interest in AIVA's unique FMCW technology, with strong momentum across automotive, industrial, and ITS markets [25] - The company is optimistic about transitioning from development to large-scale production with the global top 10 passenger OEM, having achieved initial milestones [15][47] - Management highlighted the importance of the strategic collaboration as a validation of AIVA's technology and its potential for broad deployment across multiple markets [17][18] Other Important Information - The company plans to host an AIVA Day on July 31 in New York City to provide deeper insights into its technology and commercial traction [26] Q&A Session Summary Question: Can you talk about incremental target markets with the new partner? - The partnership aims to expand into consumer market applications and accelerate industrial applications, leveraging the partner's experience and relationships with key OEMs [28][29][30] Question: How is the relationship with SICK evolving? - The partnership with SICK is significant, with SICK holding about 15% market share and the potential to transition a majority of their portfolio to FMCW technology [32][34] Question: How quickly can new customers be ramped up? - Initial engagements may take time, but subsequent customer onboarding is expected to be much quicker, potentially within months [40][41] Question: What is the potential momentum with other passenger OEMs? - AIVA is engaged with multiple top passenger OEMs and is seeing significant opportunities across both passenger and commercial vehicles [45][48] Question: What led to the increase in revenue guidance? - The increase is driven by strong momentum in both industrial and automotive markets, with record product revenue in Q1 [50][51] Question: What is the expected revenue contribution from increased industrial market volumes? - The growth is expected to contribute millions in revenue, with average selling prices for sensors in the thousands of dollars [55][56] Question: What are the remaining milestones for the global top 10 passenger OEM? - Key activities include integration and packaging to fit the OEM's production platform, with a focus on transitioning to the production phase [63][64]

First 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 ...