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]

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 [23][24] - 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][18] Market Data and Key Metrics Changes - Aeva is expanding into the defense market, with a first win with Forterra, a key provider of autonomous mission systems, indicating a growing pipeline in defense applications [15][39] - The company is also targeting the physical AI market, leveraging its partnership with LG Innotek to tap into this rapidly growing sector [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 industrial robotics and physical AI, with a focus on launching new products like Omni [19][44] 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 capture a significant portion of the $80 billion market opportunity across various applications, including defense and industrial automation [15][26] Q&A Session Summary Question: Can you elaborate on the NVIDIA relationship? - Aeva's collaboration with NVIDIA is significant, involving a production program for an OEM and validating LiDAR technology, with potential for multiple OEMs to adopt Aeva's solutions [30][31] Question: What are the competitive dynamics with the top 5 passenger OEM? - Aeva's technology transition from Time-of-Flight to FMCW is a key driver for engagement with the top 5 OEM, with a focus on delivering differentiated performance [36][38] Question: What is the pipeline like in the defense market? - The defense market is growing, with Aeva's technology addressing key challenges in GPS-denied environments, leading to increased interest and traction from defense customers [39][50] Question: How does LGI enable Aeva to tap into the physical AI market? - LGI is a key partner for Aeva in the physical AI market, providing credibility and resources to develop new products based on FMCW technology [44][46] Question: Are there any delays expected in existing programs due to OEM pullbacks? - Aeva sees opportunities arising from OEMs looking to future-proof their technology stacks, with a focus on transitioning to Level 3 automation [61][62]

Financial Data and Key Metrics Changes - Aeva achieved record revenue in Q4 2025 of $5.6 million and $18.1 million for the full year, reflecting a doubling of revenues compared to 2024 [22] - Non-GAAP operating loss was $23.8 million in Q4 and $102 million for the full year, with a 17% decline in the full year loss driven by a 12% reduction in operating expenses [22] - 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 [23] Business Line Data and Key Metrics Changes - Aeva doubled its revenue in 2025, driven by increased sensor shipments and expanding applications, including NRE revenues from customers like Daimler Truck and a top European passenger OEM [9][22] - Shipments of Aeva's Eve precision sensors began in late 2025, with plans to ramp up production in 2026 [8] Market Data and Key Metrics Changes - Aeva is positioned to capture a growing market opportunity exceeding $80 billion across various applications, including automotive, industrial automation, and defense [14] - The defense market is identified as a significant growth area, with Aeva's technology being selected by Forterra for autonomous vehicle systems [15][37] 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 [19][24] - The company is focused on increasing manufacturing capacity and expanding into new applications, including physical AI and robotics, through strategic partnerships like the one with LG Innotek [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for Aeva's perception solutions, particularly in the automotive sector, and highlighted the importance of partnerships with industry leaders like NVIDIA [5][12] - The company anticipates continued revenue growth in 2026, targeting $30 million to $36 million, representing a 70%-100% year-over-year increase [24] Other Important Information - Aeva's partnership with LG Innotek includes a $50 million investment to support joint product development and production capacity [8] - The company successfully completed on-road validation of its Atlas B samples with Daimler Truck and is on schedule to deliver final C samples [7] Q&A Session Summary Question: Can you elaborate on the NVIDIA relationship? - Aeva's collaboration with NVIDIA is significant, involving the deployment of Atlas Ultra and integration into the DRIVE Hyperion platform, which could lead to multiple OEM partnerships [28][30] Question: What are the competitive dynamics with the top five passenger OEM? - Aeva is well-positioned due to its transition from Time of Flight to FMCW technology, which is seen as essential for future-proofing AV stacks [34][36] Question: How robust is the pipeline in the defense space? - The defense market is growing, with Aeva's technology addressing key challenges in GPS-denied environments, leading to increased interest from various defense customers [37][48] Question: Will LG Innotek enable Aeva to tap into the global physical AI opportunity? - LG Innotek is a key partner for Aeva in expanding into the physical AI market, leveraging their scale and resources for new product development [41][43] Question: Why is there increasing interest from defense customers now? - The growth in defense budgets and the need for advanced AI-based solutions are driving interest in Aeva's technology, which offers advantages in dynamic environments [46][48]