Eve Holding Q2 net loss widens to $36.4M; raises $95.6M in equity for eVTOL development

Eve Holding, Inc.

2024-Q2 EPS reported -$0.22

Net loss of $36.4M in Q2 2024 (vs $31.4M Q2 2023); R&D expenses rose to $36.3M from $21.8M YoY.
Post-quarter equity raise of $95.6M from Embraer, Nidec, Space Florida; pro-forma liquidity ~$338M.
First full-scale eVTOL prototype completed and unveiled July 3; flight test campaign expected late 2024.
2024 cash consumption guidance reaffirmed at $130M–$170M; 2Q24 free cash flow of -$31.4M.
SG&A decreased to $5.4M from $6.6M; cash, equivalents and investments at $206.5M at June 30.

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