Reported Q: Q3 2024 Rev YoY: +177.8% EPS YoY: +6.7% Move: -4.55%
Aeva Technologies Inc
AEVA-WT
$0.0693 -4.55%
Exchange NYSE
Q3 2024
Published: Nov 7, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AEVA-WT

Reported

Report Date

Nov 7, 2024

Quarter Q3 2024

Revenue

2.25M

YoY: +177.8%

EPS

-0.70

YoY: +6.7%

Market Move

-4.55%

Previous quarter: Q2 2024

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Earnings Highlights

  • Revenue of $2.25M up 177.8% year-over-year
  • EPS of $-0.70 increased by 6.7% from previous year
  • Gross margin of -32.0%
  • Net income of -37.40M
  • "To get to the bottom of your question, we estimate the revenue potential here to be approximately up to about $50 million in the next few years." - Soroush Salehian
AEVA-WT
Company AEVA-WT

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Executive Summary

Aeva reported Q3 2024 revenue of $2.25 million, marking ongoing sensor shipments to automotive and industrial customers and notable progress on high-profile programs (Daimler Truck via Torc and the Indoor Lab security deployment). The company posted a non-GAAP operating loss of $31.4 million and a net loss of $37.4 million for the quarter, consistent with a heavy R&D and manufacturing investment phase as Aeva scales Atlas for mass production. Management emphasized multiple near-term catalysts, including a multiyear security production win with The Indoor Lab, progress toward a Tier 1 passenger OEM RFQ, and a European passenger OEM automated vehicle validation program, all underscoring a multi-industry growth trajectory for the 4D FMCW LiDAR platform. The balance sheet remains liquidity-rich, with $259.8 million in total liquidity (cash, investments and undrawn equity facility) ending Q3, supporting SOP launches and additional production wins. The company aims to begin Atlas deployments at scale in 2025 with a start of production anticipated in 2026 for Daimler Truck’s program and mass market entry around 2027. Near-term profitability remains elusive as R&D, QA, and manufacturing ramp pressures persist, but the strategic roadmap reflects a deliberate push toward scalable, automotive-grade deployments and cross-industry adoption of 4D LiDAR.

Key Performance Indicators

Revenue
Increasing
2.25M
QoQ: 11.83% | YoY: 177.78%
Gross Profit
Increasing
-721.00K
-32.04% margin
QoQ: 14.98% | YoY: 57.96%
Operating Income
Decreasing
-37.88M
QoQ: -1.24% | YoY: -6.70%
Net Income
Decreasing
-37.40M
QoQ: 13.82% | YoY: -12.51%
EPS
Increasing
-0.70
QoQ: 14.63% | YoY: 6.67%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 3.37 -0.64 +59.9% View
Q4 2024 2.70 -0.67 +67.4% View
Q3 2024 2.25 -0.70 +177.8% View
Q2 2024 2.01 -0.82 +170.8% View
Q1 2024 2.11 -0.67 +83.5% View