Financial Data and Key Metrics Changes - Aeva achieved record revenue in 2025, with Q4 revenue at $5.6 million and full-year revenue at $18.1 million, reflecting a doubling of revenues compared to 2024 [22][23] - Non-GAAP operating loss for Q4 was $23.8 million and $102 million for the full year, with a 17% decline in full-year non-GAAP operating loss driven by a 12% reduction in operating expenses [23][24] - Total available liquidity at the end of 2025 was $246.9 million, consisting of $121.9 million in cash equivalents and marketable securities, and $125 million in an undrawn facility [24] Business Line Data and Key Metrics Changes - Aeva doubled its revenue in 2025, driven by increased sensor shipments and expanding applications, including significant contributions from customers like Daimler Truck and a top European passenger OEM [10][23] - The company successfully completed on-road validation of its Atlas B samples for Daimler Truck and is on schedule to deliver final C samples this year [8][19] Market Data and Key Metrics Changes - Aeva is expanding into the defense market, having secured its first defense win with Forterra, which is expected to contribute significantly to near-term product sales [15][40] - The company is also targeting the physical AI market, leveraging its partnership with LG Innotek to tap into this rapidly growing opportunity [9][44] Company Strategy and Development Direction - Aeva aims to solidify its leadership position in sensing and perception, targeting four or more commercial wins in 2026 across automotive and non-automotive applications [18][19] - The company plans to increase manufacturing capacity and expand into new applications, including precision sensing with its Eve sensors and the upcoming Omni product [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for Aeva's perception solutions, highlighting the importance of partnerships with industry leaders like NVIDIA and LG Innotek [5][10] - The company anticipates another major year in 2026, focusing on execution and supporting existing programs while maintaining financial discipline [20][27] Other Important Information - Aeva's partnership with LG Innotek includes an investment of up to $50 million to support joint product development and increase production capacity [9][24] - The company is positioned to benefit from the transition of OEMs from Time of Flight to FMCW technology, which is seen as critical for future-proofing their autonomous vehicle stacks [11][36] Q&A Session Summary Question: Can you discuss the NVIDIA relationship and its benefits? - Management highlighted that the collaboration with NVIDIA is a major validation for LiDAR technology, with potential for multiple OEMs to adopt Aeva's sensors through the DRIVE Hyperion platform [30][31] Question: Can you elaborate on the competitive dynamics with the top 5 passenger OEM? - Management noted that competition has consolidated, with fewer capable companies in the perception space, and emphasized the importance of transitioning to FMCW technology for future vehicle platforms [36][54] Question: What is the outlook for the defense market and Aeva's engagement there? - Management indicated that the defense market is growing significantly, with increasing interest in advanced sensing solutions like LiDAR, and Aeva is well-positioned to capture opportunities in this space [40][50] Question: How many of the targeted wins for this year are expected to be in the automotive space? - Management expects to split the targeted four wins evenly between automotive and non-automotive applications, with ongoing discussions across multiple sectors [59][62]

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 ...