Eve reports Q1 net loss of $25.3M; cash burn rises to $35.9M as prototype assembly advances

Eve Holding, Inc.

2024-Q1 EPS reported -$0.09

Net loss $25.3M vs $25.8M in 1Q23; R&D expenses $27.5M (up from $21.5M) on prototype assembly and testing infrastructure.
Cash used by operations and capex $35.9M, up from $19.9M; total 2024 cash consumption expected $130-170M.
First full-scale eVTOL prototype assembly nearly complete; test campaign expected to start in H2 2024.
Received LOI from AirX for up to 50 eVTOLs; non-binding backlog ~2,900 units valued at $14.5B list price.
Selected KAI as supplier for pylons; certification basis with ANAC public comment phase completed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Eve Holding, Inc. reported first quarter ended March 31, 2024 results: net income $25.3 million.

Period: first quarter ended March 31, 2024
Net income: $25.3 million
Result: reported results

Exact text from the filing

Eve reported a net loss of $25.3 million in 1Q24 versus $25.8 million in 1Q23.

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Source: SEC EDGAR

accession 0001554855-24-000338

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