Eve (US:EVEX)2024-03-08 13:04Development & Milestones - Eve's eVTOL development pathway includes phases from joint definition to verification, targeting type certification and entry into service[20, 34] - 2023 milestones include selection of primary suppliers, aircraft systems architecture definition, initiation of first prototype assembly, and trial software of urban air traffic management[40] - 2024 milestones include concluding first prototype airframe assembly in the first half and initiating and progressing prototype tests in the second half[41] - Full-scale prototype assembly continues to advance[28] Suppliers & Components - Supply selection of approximately 90% of component value purchased has been achieved[6, 9] - New suppliers have been selected for various components including flight control, avionics, actuators, control surfaces and empennage, seats, sensors, thermal-management system, wings and pilot controls[6] Financials - Total cash consumption in 2023 was $95 million, compared to the guidance of $130-$150 million[40] - Total cash consumption for 2024 is projected to be between $130 and $170 million[37] Commercial - Letters of Intent have been received for up to 2,850 eVTOL aircraft[21, 43] - The company has 29 eVTOL customers in 13 countries, 14 UATM customers & partners in 3 continents, and 10 Services & Operations Solutions customers in 7 countries[35] - Services potential revenue is $660 Million and $8.6 Billion[42]