Eve (EVEX)2025-05-12 10:03Financial Performance - Eve reported a net loss of 25.3 million in Q1 2024, primarily due to increased R&D expenses of 27.5 million in the prior year[4]. - Research and development expenses for Q1 2025 were 27.5 million in Q1 2024, reflecting a 62% increase[64]. - The net loss for Q1 2025 was 25.3 million in Q1 2024, indicating a 93% increase in losses year-over-year[64]. - Total current assets decreased from 297.6 million by March 31, 2025[65]. - Total liabilities increased from 228.0 million by March 31, 2025[65]. Cash Flow and Liquidity - Total cash consumption in Q1 2025 was 35.9 million in Q1 2024, with total liquidity reaching 200 million and 141.2 million in 2024 and 59.5 million, up from 410.3 million, a decrease from 59.5 million from (24.9) million for the three months ended March 31, 2025, compared to 18.5 million for the three months ended March 31, 2025, compared 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].