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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, Inc. (NYSE: EVEX, EVEXW) released its fourth quarter and fiscal year 2022 earnings, reporting a net loss of $20.1 million for Q4 and $174.0 million for the year. Key developments include raising $355 million through a de-SPAC transaction and securing $92.5 million in credit lines from Brazil's National Development Bank. Eve holds a backlog of 2,770 non-binding LOIs from 26 customers across 12 countries, providing strong long-term revenue visibility. The company is advancing its eVTOL certification process with Brazilian and U.S. authorities, targeting 2026 for service entry. Total liquidity exceeds $400 million, ensuring funding for R&D through 2025.
Eve Holding reported a net loss of $36.7 million in Q3 2022, up from $3.8 million in Q3 2021, primarily due to increased R&D and SG&A expenses and $17.4 million in non-cash warrant charges. R&D costs surged to $14.3 million from $2.8 million year-over-year. The company's cash consumption rose to $17 million compared to $2.4 million in Q3 2021. Despite the losses, Eve retains $329.9 million in liquidity and secured $92.5 million in credit lines from Brazil's BNDES to support its eVTOL development.
Eve Air Mobility announced the approval of $92.5 million in credit lines by Brazil's National Development Bank (BNDES) to support its eVTOL development program. The financing includes two distinct credit lines with a 12-year maturity and an amortization grace period. One line supports climate change mitigation projects, while the second focuses on innovative industrial projects. BNDES's backing is expected to enhance Eve's capital structure and align with its commitment to zero-emission aircraft and sustainable urban mobility solutions.
Eve Air Mobility (NYSE: EVEX; EVEXW) has signed a Letter of Intent with FlyBIS Aviation to collaborate on developing electric vertical take-off and landing (eVTOL) operations in Brazil and South America. FlyBIS plans to purchase up to 40 eVTOL aircraft from Eve, targeting high-traffic tourist areas to enhance urban air mobility. FlyBIS aims to expand operations to neighboring countries by 2026, contributing to Eve's order backlog of 2,770 eVTOLs. This collaboration reflects both companies' commitment to sustainable air mobility solutions.
Eve Holding, Inc. (NYSE: EVEX; EVEXW) announced it is unable to file its Quarterly Report on Form 10-Q for the quarter ending September 30, 2022, on time due to the need for further assessment of its financial statements. The company received a notice from the NYSE regarding non-compliance with its listing standards, allowing six months to regain compliance by filing the Form 10-Q. If not filed within this period, the company may face suspension and delisting. Eve aims to file the report as soon as possible to restore compliance.
Eve Air Mobility (NYSE: EVEX; EVEXW) has entered into a Letter of Intent with Bluenest, a Globalvia company, to provide its Urban Air Traffic Management (UATM) software for future vertiport automation systems. The partnership aims to develop operational models tailored to UAM operations, enhancing efficiency and safety in air traffic management. This collaboration positions Eve as a significant player in the UAM ecosystem, contributing to the integration of eVTOL aircraft and automated systems in urban environments.
BLADE India has signed a purchase order for up to 200 eVTOL aircraft from Eve Air Mobility, with an initial commitment of 50,000 flight hours annually. This partnership aims to address India's urban mobility challenges through a pilot project launching helicopter flights in a major city. BLADE India will use insights from its operations to enhance Eve's eVTOL technology and Urban Air Traffic Management systems. The collaboration is expected to promote zero-emission air transport solutions in India, making air travel more accessible amidst significant traffic congestion.
United announces a $15 million investment in Eve Air Mobility, coupled with a conditional purchase agreement for 200 electric VTOL aircraft and options for 200 more. The first deliveries are expected as early as 2026. This investment positions United as a leader in urban air mobility, supporting its net zero emissions goal by 2050. United's partnership with Eve, leveraging its relationship with Embraer, aims to enhance air travel efficiency and sustainability. The initiative underscores United's commitment to innovative aviation solutions and the potential growth in the UAM market.
United Airlines has announced a $15 million investment in Eve Air Mobility, coupled with a conditional purchase agreement for up to 400 electric vertical take-off and landing (eVTOL) aircraft. The deal includes an order for 200 aircraft with options for an additional 200, aimed at revolutionizing urban commuting by 2026. This investment reinforces United’s commitment to aviation sustainability, striving for net zero carbon emissions by 2050. United’s collaboration with Eve is expected to enhance urban air mobility, providing a cleaner, quieter transportation alternative in dense urban areas.
Eve Air Mobility (NYSE: EVEX; EVEXW) is set to participate in Deutsche Bank's technology conference in Las Vegas on August 31, 2022. Co-CEO Gerard DeMuro will discuss advancements in urban air mobility (UAM) during a 35-minute panel titled "Making UAM a Reality," scheduled for 4:30 PM PT. The event highlights Eve's commitment to enhancing UAM solutions, coinciding with preparations for their first UAM simulation in Chicago. The panel will also feature Adam Goldstein from Archer Aviation and Sergio Cecutta from SMG Consulting.
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