Financial Data and Key Metrics Changes - The company reported a net loss of $49 million in Q1 2025, with R&D expenses at $44 million and SG&A expenses at nearly $8 million [21][20] - Cash flow from operations consumed $25 million, which is lower than previous quarters due to a temporary working capital gain [21][22] - The company ended Q1 2025 with $288 million in cash, down $15 million from the end of 2024, but total liquidity was $411 million [22] Business Line Data and Key Metrics Changes - The company invested $45 million in program development during the first quarter, focusing on eVTOL, service and support solutions, and urban air traffic management software [20] - The total preorder backlog remains at approximately 2,800 aircraft, valued at around $14 billion, with contracts secured for aftermarket services potentially generating $1.6 billion in revenue [18][19] Market Data and Key Metrics Changes - The company has secured contracts with 14 different customers for its EVE TechCare suite, covering around 1,100 aircraft, which is about 40% of the preorder backlog [19] - The order book includes customers from various sectors, including air mainliners, regional airliners, helicopter operators, ride-sharing platforms, and leasing companies [18] Company Strategy and Development Direction - The company is focused on developing its eVTOL technology and has reached significant milestones, including ground tests and preparations for initial flights [5][6] - The assembly line for the conforming prototypes is set up at Embraer's facility, with plans to start assembly in the second half of 2025 [16][17] - The company aims to create a comprehensive ecosystem for urban air mobility, engaging with partners in infrastructure and energy [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting ambitious targets for prototype assembly and certification campaigns, with initial flights expected in 2026 [20][22] - The company is focused on maintaining a solid cash position and is comfortable with its financial guidance for the year [21][22] Other Important Information - The company is actively engaged with suppliers, with a noticeable increase in activity related to the production of parts for the conforming prototypes [15] - The IronBird simulator is being used to integrate and troubleshoot various systems, which is crucial for the certification campaign [12][13] Q&A Session Summary Question: R&D spending expectations - Management indicated that R&D spending is expected to remain around $44 million per quarter for the rest of the year [26][27] Question: Certification aircraft build timeline - The conforming prototype is on schedule, with the facility ready to receive tooling for assembly [29][30] Question: Services contract backlog details - The $1.6 billion backlog includes battery replacements and repairs but does not account for future upgrades [34][35] Question: Order book and customer engagement - The order book remains stable, with ongoing customer engagement and a focus on developing the first operational city [40][41] Question: Cash consumption guidance - Cash consumption is expected to be closer to the lower end of the $200 million to $250 million range for the year [43][44] Question: Prototypes and cash consumption - Most cash is allocated to R&D, with the focus on development rather than immediate prototype costs [51][52] Question: Service and maintenance business segment - The company is preparing for seamless operation and support for the first aircraft, with training solutions already in development [55][56] Question: Software progress for services - The software side is actively being developed to ensure user-friendliness and operational efficiency [62] Question: Future financing options - The company has multiple funding options available, ensuring sufficient liquidity for upcoming years [65][66]

1Q25 EVE UPDATE M A Y 1 2 , 2 0 2 5 PROTOTYPE PREPARING FOR 1st FLIGHT GROUND VIBRATION TEST (GVT): Measure structural dynamics and vibration This information belongs to Eve and cannot be used or reproduced without written permission from the Company. 3 HIGH INTENSITY RADIATED FIELD (HIRF): Insulation from electromagnetic interference AIR-DATA SYSTEM (ADS): Radio altimeter, GPS, inertial systems equipment calibration PROTOTYPE/REMOTE PILOT STATION (RPS) INTEGRATION: Prototype control/communication FULL-SCAL ...

Financial Performance - Eve reported a net loss of $48.8 million in Q1 2025, compared to a net loss of $25.3 million in Q1 2024, primarily due to increased R&D expenses of $44.7 million versus $27.5 million in the prior year[4]. - Research and development expenses for Q1 2025 were $44.7 million, compared to $27.5 million in Q1 2024, reflecting a 62% increase[64]. - The net loss for Q1 2025 was $48.8 million, compared to a net loss of $25.3 million in Q1 2024, indicating a 93% increase in losses year-over-year[64]. - Total current assets decreased from $312.8 million at the end of 2024 to $297.6 million by March 31, 2025[65]. - Total liabilities increased from $194.3 million at the end of 2024 to $228.0 million by March 31, 2025[65]. Cash Flow and Liquidity - Total cash consumption in Q1 2025 was $25.3 million, a decrease from $35.9 million in Q1 2024, with total liquidity reaching $410.3 million, sufficient to support operations through 2026[5][6]. - Eve plans to consume between $200 million and $250 million in total cash in 2025, compared to $141.2 million in 2024 and $94.7 million in 2023[33]. - Cash and cash equivalents at the end of Q1 2025 were $59.5 million, up from $56.2 million at the beginning of the period[68]. - Total liquidity as of March 31, 2025, is $410.3 million, a decrease from $428.6 million on December 31, 2024[74]. - Cash and cash equivalents increased to $59.5 million from $56.4 million in the same period[74]. - Net cash used by operating activities improved to $(24.9) million for the three months ended March 31, 2025, compared to $(35.8) million for the same period in 2024[75]. - Net cash provided by investing activities was $18.5 million for the three months ended March 31, 2025, compared to $(2.1) million in the prior year[75]. - Net cash provided by financing activities significantly increased to $93 million from $14.7 million year-over-year[75]. Development and Production - The company is advancing its eVTOL development, with the first full-scale prototype assembly completed and extensive ground tests currently underway[8][9]. - Eve has secured a Master Service Agreement with Embraer, which significantly drives R&D costs and engineering engagement for the development of its eVTOL aircraft[4]. - The company is preparing its first production site in Taubaté, Brazil, with an investment plan to achieve a capacity of 480 units per year[26][29]. - Eve plans to initiate a certification campaign for its eVTOL prototypes even before the Means of Compliance are published by ANAC, aiming for a faster certification process[23][25]. - The company has begun testing lifter motors and other systems to ensure readiness for the upcoming flight test campaign, with ANAC supervising these tests[42][43]. Market and Orders - Eve's order pipeline totals approximately 2.8K units, with a non-binding backlog value of about $14 billion[54]. - The current client base consists of 28 customers, with no single client representing more than 14% of the total order book[55]. - The Americas account for nearly two-thirds of Eve's backlog, with North America at 47% and South America at 18%[56]. - Eve has secured non-binding contracts for service solutions worldwide with 14 customers, representing 41% of the order book[57]. - Potential revenues from non-binding service contracts are estimated at $1.6 billion during the first few years of vehicle operation[59]. Regulatory and Industry Impact - The FAA issued a Special Federal Aviation Regulation that simplifies pilot training for eVTOLs, positively impacting the Urban Air Mobility market[18]. - Eve is focused on advancing the Urban Air Mobility ecosystem with a comprehensive approach, leveraging Embraer S.A.'s aerospace expertise[77]. Corporate Information - The company is listed on the New York Stock Exchange under the ticker "EVEX" since May 10, 2022[77]. - Forward-looking statements indicate optimism about future growth, but are subject to significant risks and uncertainties[78]. - The company does not assume any obligation to update forward-looking statements unless required by law[78]. - Investor relations can be contacted via email at investors@eveairmobility.com for further inquiries[79].

Revenue Generation and Commercialization - Eve has not generated any revenue to date as it continues to develop its eVTOL aircraft and other UAM solutions, requiring substantial additional capital for future operations [108]. - The company anticipates commercialization of its eVTOL services and support business beginning in 2026, followed by initial revenue generation from eVTOL sales starting in 2027 [115]. - The UAM market remains undeveloped, and future demand for eVTOL services is uncertain, which could impact revenue generation [115]. - The company has incurred net losses since inception and has not generated any revenue, expecting to continue this trend until sustainable commercial operations commence [134]. - The company expects to continue incurring losses and negative operating cash flows until sustainable commercial operations commence [134]. Partnerships and Market Position - Eve has signed non-binding letters of intent to sell approximately 2,800 eVTOL aircraft and has established partnerships with about 30 market-leading companies across various segments [120]. - The company plans to leverage its strategic relationship with Embraer to accelerate development plans and reduce costs [104]. - The company faces competition from focused UAM developers and established aerospace and automotive conglomerates, which may impact its market entry [117]. Research and Development - Eve is developing a next-generation Urban Air Traffic Management software, "Vector," aimed at enabling safe and efficient eVTOL operations in urban airspace [107]. - Research and development expenses increased by $17.3 million, or 63%, for the three months ended March 31, 2025, primarily due to the Master Service Agreement with Embraer [124]. - The company is focused on developing eVTOL aircraft and related technologies, with significant increases in R&D expenses expected as staffing and development efforts expand [123]. - Research and development expenses increased by $17.3 million to $44.7 million for the three months ended March 31, 2025, primarily due to intensified developmental activities with Embraer [124]. Financial Performance - Total operating expenses for the three months ended March 31, 2025, were $52.6 million, an increase of $18.7 million, or 55%, compared to $33.9 million for the same period in 2024 [122]. - Net loss for the three months ended March 31, 2025, was $48.8 million, representing an increase of $23.5 million, or 93%, from a net loss of $25.3 million in the prior year [122]. - Financial investment income rose by $1.6 million, or 67%, for the three months ended March 31, 2025, due to an increase in the average investment balance [128]. - Interest expense increased by $1.8 million for the three months ended March 31, 2025, primarily due to a larger outstanding debt balance compared to the prior period [130]. - The company reported a net loss of $48.8 million for the three months ended March 31, 2025, compared to a net loss of $25.3 million for the same period in 2024, representing a 93% increase in losses [122]. Cash Flow and Liquidity - Net cash used by operating activities decreased by $10.9 million to $24.9 million for the three months ended March 31, 2025, compared to $35.8 million in the prior year [137]. - As of March 31, 2025, the company had cash and cash equivalents of $59.5 million and total liquidity of approximately $410.3 million, sufficient to fund operations for at least the next twelve months [135]. - The company has cash and cash equivalents of $59.5 million and financial investments of $228.1 million as of March 31, 2025, totaling approximately $410.3 million in liquidity [135]. - Net cash related to investing activities increased by $20.6 million for the three months ended March 31, 2025, driven by increased redemptions of financial investments totaling $107.0 million [139]. - Net cash provided by financing activities decreased by $5.5 million for the three months ended March 31, 2025, mainly due to lower debt borrowings [140]. Financing and Debt - The company plans to utilize a combination of equity and debt financing to fund future capital needs, with no specific sources of additional funding currently decided [135]. - As of March 31, 2025, approximately $122.7 million is available to be drawn under the Company's debt arrangements [141]. - The Company entered into a loan agreement with BNDES for R$490 million (approximately $94.1 million) to support the development of the eVTOL [142]. - A financing agreement with BNDES was established for four lines of credit totaling approximately $87.9 million as of March 31, 2025 [143]. - The Company secured a loan agreement with BNDES for R$200 million (approximately $34.8 million) to support the second phase of the eVTOL project [144]. Regulatory and Economic Environment - The company plans to obtain necessary certifications from aviation authorities such as ANAC, FAA, and EASA to launch its commercial services [118]. - The Brazilian economic environment poses risks, including inflation and currency fluctuations, which could adversely affect the company's operations [111]. - The Company is classified as an "emerging growth company," allowing it to delay the adoption of certain accounting standards until they apply to private companies [149]. - The Company will lose its emerging growth company status no later than December 31, 2025, becoming subject to SEC's internal control over financial reporting auditor attestation requirements [151].

If you want full access to all our reports, data and investing ideas, join The Aerospace Forum , the #1 aerospace, defense and airline investment research service on Seeking Alpha, with access to evoX Data Analytics, our in-house developed data analytics platform.I covered Eve Holding, Inc. (NYSE: EVEX ) in November with a buy rating. The stock price actually went down by 16.5% while the broader markets lost nearly 7%. Eve stock performed worse than the markets. To me, that also does make senseDhierin runs ...

Eve Holding (EVEX) Q4 2024 Earnings Call March 11, 2025 04:53 PM ET Company Participants Lucio Aldworth - Director of IRJohann Christian Jean Bordais - Chief Executive OfficerEduardo Couto - CFOSavanthi Syth - Managing DirectorEllen Page - Equity AssociateLuiz Valentini - Chief Technology OfficerAustin Moeller - Director - Equity ResearchMarvin Fong - Director Conference Call Participants Amit Dayal - Managing Director & Senior Technology Analyst Operator Good day, and welcome to the Eve Holding Inc. Fourth ...

Eve Holding, Inc. (NYSE:EVEX) Q4 2024 Earnings Conference Call March 11, 2025 8:00 AM ET Company Participants Lucio Aldworth - Head-IR Johann Bordais - CEO Eduardo Couto - CFO Luiz Valentini - CTO Conference Call Participants Savanthi Syth - Raymond James Ellen Page - Jefferies Austin Moeller - Canaccord Amit Dayal - H.C. Wainwright Marvin Fong - BTIG Operator Good day, and welcome to the Eve Holding, Inc. Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being ...

100% SUPPLIERS SELECTED VECTOR LAUNCH $90M BNDES CREDIT LINE $96M CAPITAL RAISE 1ST PROTOTYPE ROLL OUT START OF PROTOTYPE GROUND TESTS ATM SIMULATION IN BRAZIL FINAL eVTOL AIRWORTHINESS CRITERIA PUBLISHED $ $50M CITIBANK LOAN AIRX LoI 50 eVTOL, TECHCARE & VECTOR TECHCARE LAUNCH EMBRAER/CAE AS TRAINING PROVIDER $35M BNDES CREDIT LINE HELIINC LoI 50 eVTOL, TECHCARE & VECTOR 2024 4Q24 & FY2024 EVE UPDATE This information belongs to Eve and cannot be used or reproduced without written permission from the Compan ...

Financial Performance - Eve Air Mobility reported a net loss of $40.7 million in Q4 2024, compared to a net loss of $39.3 million in Q4 2023, with R&D expenses at $33.7 million, relatively flat year-over-year [13]. - For the full year 2024, the net loss was $138.2 million, an increase from $127.7 million in 2023, with R&D expenses rising to $129.8 million from $105.6 million [16]. - The full-scale prototype will undergo test flights starting in mid-2025, but these will not count towards certification [36]. - Free cash flow for the year was reported as net cash used by operating activities of $(136.0) million, compared to $(94.5) million in the previous year [104]. - The net loss for 2024 was $138.168 million, compared to a net loss of $127.658 million in 2023 [95]. Cash Position and Liquidity - The total cash consumption for Q4 2024 was $39.9 million, up from $24.5 million in Q4 2023, driven by R&D costs and SG&A expenses [15]. - Eve's cash position at the end of 2024 was $303.4 million, up from $241.1 million at the end of 2023, reflecting new loans and a private placement [19]. - Total liquidity increased to $428.6 million as of December 31, 2024, up from $316.3 million in 2023, representing a 35.4% growth [103]. - The company reported net cash provided by financing activities of $203.0 million in 2024, a significant increase from $24.9 million in 2023 [104]. - Cash and cash equivalents at the end of 2024 were $56.366 million, up from $46.882 million in 2023 [98]. Research and Development - Research and development expenses for 2024 reached $129.844 million, an increase of 23% from $105.581 million in 2023 [95]. - Eve plans to initiate flight tests for its full-scale prototype by mid-2025, following extensive ground tests currently underway [25]. - The company aims to invest between $80 million and $90 million for the customization of its production facility in Taubaté, Brazil, to accommodate initial production efforts [40]. - Eve's aircraft design aims for a range of 60 miles (approximately 100 kilometers) and is focused on reducing sound levels compared to conventional helicopters [92]. - The company is engaged in developing advanced air mobility (AAM) market dynamics to enhance services offered at vertiports [81]. Customer and Market Engagement - Eve has a backlog of approximately 2,800 non-binding Letters of Intent (LOIs) from 28 customers across 9 countries, providing strong long-term revenue visibility [8]. - The company has secured 21 customers for its Urban Air Traffic Management software, Vector, enhancing its service offerings [8]. - The current client base consists of 28 customers, with no single client representing more than 14% of the total order book, and fixed wing operators account for 40% of the orders [86]. - Non-binding service contracts are expected to generate potential revenues of $1.6 billion during the initial years of vehicle operation [90]. - Eve has signed a letter of intent with Helicopters Inc. for up to 50 eVTOLs, including service support and urban air traffic management software [67]. Strategic Partnerships and Collaborations - The company is collaborating with Signature Aviation to research ecosystem requirements for Advanced Air Mobility ground operations [71]. - Eve's Urban ATM software solution is being explored for implementation in India through a partnership with JetSetGo [74]. - The company continues to engage with regulatory authorities, including ANAC and FAA, to strengthen relationships and advance the certification process [53]. - Eve has secured funding of $35 million from BNDES for eVTOL development in 2025, following a $92.5 million line of credit in 2022 and a $50 million investment from Citibank [63]. - Management emphasizes the importance of non-GAAP measures, such as total liquidity and free cash flow, to provide better insights into the company's financial health [102]. Future Outlook - Eve plans to initiate the production of the first certification compliant prototype in 2025, with five prototypes for its certification campaign [33]. - The company expects total cash consumption between $200 million and $250 million in 2025, compared to $141.2 million in 2024 and $94.7 million in 2023 [42]. - Future outlook includes potential growth driven by new product developments and market expansion strategies [106]. - Management acknowledges risks and uncertainties that may impact future performance, as outlined in their risk factors [106]. - The company plans to participate in multiple investor events, including the 2025 Cantor Fitzgerald Global Technology Conference and the J.P. Morgan 2025 Industrials Conference, indicating ongoing engagement with investors [100].

Financial Performance - The net loss for the year ended December 31, 2024, was $138.2 million, representing an increase in loss of $10.5 million or 8% compared to 2023 [344]. - The net loss for the year ended December 31, 2024, was $138,168,000, compared to a net loss of $127,658,000 in 2023, reflecting a decline of 8.8% [395]. - The net loss for 2024 was $138.168 million, compared to a net loss of $127.658 million in 2023, representing an 8.8% increase in losses [506]. - Basic and diluted net loss per share for 2024 was $(0.48), slightly worse than $(0.46) in 2023 [506]. - Cash flows used by operating activities totaled $135.966 million in 2024, up from $94.509 million in 2023, reflecting a 43.9% increase in cash outflow [404]. Research and Development - Research and development expenses increased by $24.3 million to $129.8 million for the year ended December 31, 2024, primarily due to intensified eVTOL development activities [344]. - Research and development expenses increased to $129,844,000 in 2024, up from $105,581,000 in 2023, a rise of 22.9% [395]. - Research and development expenses are focused on eVTOL, Service and Operations Solutions, and UATM projects, with costs expensed as incurred [430]. - Research and development expenses increased to $93.5 million in 2024, up 28.5% from $72.8 million in 2023, and significantly higher than $39.3 million in 2022 [455]. Operating Expenses - Total operating expenses for the year ended December 31, 2024, were $156.4 million, a decrease of $25.8 million or 20% compared to 2023 [344]. - Selling, general and administrative expenses increased by $3.4 million for the year ended December 31, 2024, mainly due to an increase in the workforce and outsourced services [348]. - Selling, general and administrative expenses rose to $26.529 million in 2024 from $23.104 million in 2023, a 10.5% increase [510]. Liquidity and Capital Resources - As of December 31, 2024, the company has cash and cash equivalents of $56.4 million, financial investments of $247.0 million, and available debt to be drawn of $125.2 million, totaling approximately $428.6 million in liquidity [355]. - The company intends to use its liquidity primarily for research and development activities and personnel costs, with future capital requirements dependent on revenue growth and customer cash flow timing [355]. - The company may explore various funding opportunities, including long-term or convertible debt, advances from customers, or equity issuances, but may face challenges in raising additional funds on favorable terms [355]. - The company raised $94.288 million from the issuance of common stock, net of fees, and $110.762 million from the issuance of debt in 2024, contributing to a net cash provided by financing activities of $203.019 million [404]. Debt and Financing - Interest expense increased by $3.4 million for the year ended December 31, 2024, primarily due to a larger principal balance compared to 2023 [351]. - Long-term debt surged to $132,011,000 in 2024, compared to $25,764,000 in 2023, indicating a significant increase of 413.5% [392]. - The company has outstanding long-term debt of $132.0 million as of December 31, 2024, a substantial increase from $25.8 million in 2023, with a weighted-average interest rate of 6.6% [459]. - The company entered into a loan agreement with BNDES for R$490 million (approximately $93.1 million) to support the development of the eVTOL aircraft, with R$360.7 million (approximately $69.6 million) issued as of December 31, 2024 [362][363]. Future Outlook - The company anticipates commercialization of eVTOL services beginning in 2026, with initial revenue generation from eVTOL sales expected in 2027 [337]. - The company is focused on developing a fully-integrated eVTOL transportation solution, with significant uncertainties regarding the business model and aircraft utilization rates [343]. - The company is focused on advancing the urban air mobility ecosystem through its eVTOL project and related services, with operations in Florida and Brazil [407]. Assets and Valuation - As of December 31, 2024, total assets increased to $318,242,000 from $245,339,000 in 2023, representing a growth of 29.7% [392]. - Total liabilities increased significantly to $194,320,000 in 2024 from $80,288,000 in 2023, marking a rise of 142.3% [392]. - Total equity decreased to $123,922,000 in 2024 from $165,051,000 in 2023, a decline of 25.0% [392]. - Valuation allowances against deferred tax assets were $428.5 million, reflecting the company's best estimate of future events impacting the utilization of these assets [369]. Shareholder and Stock Information - The weighted-average number of shares outstanding increased to 288,524,000 in 2024 from 275,763,000 in 2023, an increase of 4.6% [395]. - The maximum number of shares of common stock reserved for issuance under the 2022 Stock Incentive Plan is 16.6 million shares as of December 31, 2024 [496]. - The total unrecognized compensation expense associated with nonvested awards is $7.4 million, expected to be recognized over a weighted-average period of 2.0 years [502]. Lease Obligations - As of December 31, 2024, total operating lease ROU assets increased to $1,096 million from $508 million in 2023, representing a 116.5% increase [523]. - Total operating lease liabilities rose to $1,047 million in 2024, compared to $510 million in 2023, marking a 105.5% increase [523]. - The operating lease cost for 2024 was $588 million, significantly up from $113 million in 2023, indicating a 419.5% increase [523].