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Eve Holding, Inc. (EVEXW) is a pre-operational company focused on developing an eVTOL aircraft and the Urban Air Mobility ecosystem, including air traffic management systems and service solutions. Eve's financial results predominantly reflect costs associated with program development. With a net loss of $31.4 million in 2Q23, primarily driven by higher Research & Development (R&D) expenses related to the MSA with Embraer, and increased Selling, General & Administrative (SG&A) expenses, Eve has a headcount of around 630 employees. R&D expenses doubled to $21.8 million in 2Q23 compared to the previous year, while SG&A expenses rose to $6.6 million. The company's total liquidity at the end of 2Q23 was $269.0 million, with no debt on its balance sheet. Eve continues to draw funds, including a milestone disbursement of BNDES credit lines. Stay updated on Eve Holding, Inc. by visiting their Investor Relations website.
Eve Holding (NYSE: EVEX) reported its Q3 2024 results, showing a net loss of $35.8 million, up from $31.2 million in Q3 2023. R&D expenses increased to $32.4 million from $28.6 million, while SG&A rose to $8.4 million from $5.0 million. The company maintains strong liquidity with $279.8 million in cash and investments, plus $25 million available from BNDES facility. Post-quarter, Eve secured additional funding through a $90 million BNDES credit line and a $50 million Citibank loan to support operations and program investments.
Eve Holding, Inc. (NYSE: EVEX) reported its Q2 2024 results, showing a net loss of $36.4 million, up from $31.4 million in Q2 2023. The increase was primarily due to higher R&D expenses of $36.3 million, up from $21.8 million last year, driven by eVTOL development activities. SG&A expenses decreased to $5.4 million from $6.6 million, benefiting from lower outsourced services, payroll costs, and currency depreciation. Eve's total cash used was $31.4 million, up from $27.8 million in Q2 2023. Post-quarter, Eve secured $95.6 million in new equity financing from investors including Embraer and Nidec. As of June 30, 2024, Eve's total liquidity would have been $338.0 million.
Eve Air Mobility (NYSE: EVEX) announced $94 million in new equity financing from multiple investors, including strategic industrial companies like Embraer and Nidec. The funds will support the development and manufacturing of Eve's electric vertical take-off and landing (eVTOL) aircraft. This financing involves issuing 23.5 million new shares at $4.00 per share, along with warrants. The company aims to use the proceeds for ongoing development, bolstered by existing cash and credit lines. Eve holds the industry's largest pre-order book of 2,900 aircraft and is advancing its first full-scale eVTOL prototype. The equity funding is expected to close in the coming weeks, pending customary conditions. Further details are in Eve's Form 8-K filed with the SEC.
Eve Air Mobility (NYSE: EVEX; EVEXW) has appointed Latecoere (Paris: LAT) as the supplier for the doors of its eVTOL (electric vertical takeoff and landing) aircraft. Eve is a global leader in the eVTOL sector, focusing on sustainable, all-electric flight. The company, headquartered in Melbourne, FL, employs nearly 1,000 people and is developing a four-passenger, one-pilot eVTOL aircraft.
Latecoere will be responsible for designing and manufacturing the passenger and pilot doors, with an emphasis on safety, weight optimization, and low-carbon commitments. This collaboration is expected to help Eve achieve its development, certification, and production milestones.
Additionally, Eve plans to begin deliveries in 2026 and has an industry-leading backlog with letters of intent for up to 2,900 eVTOL aircraft. The first production facility will be located in Taubaté, São Paulo, Brazil, and the assembly of the first full-scale prototype is underway.
Eve Holding, Inc. reports a net loss of $25.3 million in 1Q24, a decrease from $25.8 million in 1Q23, despite higher R&D and SG&A expenses. The company is focused on developing an eVTOL aircraft and Urban Air Mobility ecosystem. R&D expenses rose to $27.5 million, driven by developmental activities with Embraer. SG&A expenses increased to $6.5 million, mainly due to headcount growth and industrialization costs. Eve's total cash used in operations was $35.9 million in 1Q24. Despite the loss, the fair value of derivatives resulted in a $6.3 million gain, partially offsetting expenses.
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