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Aeva Technologies (AEVA) Financials

Aeva Technologies logo
$15.35 -0.27 (-1.73%)
As of 09/25/2026 04:00 PM Eastern
Annual Income Statements for Aeva Technologies

Annual Income Statements for Aeva Technologies

This table shows Aeva Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-20 -26 -102 -147 -149 -152 -145
Consolidated Net Income / (Loss)
-20 -26 -102 -147 -149 -152 -145
Net Income / (Loss) Continuing Operations
-20 -26 -102 -147 -149 -152 -145
Total Pre-Tax Income
-20 -26 -102 -147 -149 -152 -145
Total Operating Income
-20 -26 -104 -152 -148 -158 -128
Total Gross Profit
0.57 2.10 3.43 -4.26 -5.89 -3.79 -0.66
Total Revenue
1.38 4.84 9.27 4.19 4.31 9.07 18
Operating Revenue
1.38 4.84 9.27 4.19 4.31 9.07 18
Total Cost of Revenue
0.82 2.74 5.83 8.45 10 13 19
Operating Cost of Revenue
0.82 2.74 5.83 8.45 10 13 19
Total Operating Expenses
21 28 108 148 142 155 127
Selling, General & Admin Expense
4.29 5.66 28 31 32 33 35
Marketing Expense
0.97 1.68 4.44 7.04 7.64 7.16 6.69
Research & Development Expense
15 20 75 110 103 103 85
Other Special Charges / (Income)
- - - 0.00 0.00 12 0.00
Total Other Income / (Expense), net
0.50 0.17 2.31 4.65 -1.55 6.28 -18
Interest & Investment Income
0.52 0.20 0.37 3.71 8.93 7.71 2.74
Other Income / (Expense), net
-0.02 -0.02 1.94 0.94 -10 -1.43 -20
Income Tax Expense
0.00 0.00 0.00 0.00 0.00 0.17 0.31
Basic Earnings per Share
($0.17) ($0.18) ($0.51) ($3.39) ($3.29) ($2.85) ($2.55)
Weighted Average Basic Shares Outstanding
114.97M 141.74M 200.85M 43.46M 45.41M 53.36M 57.02M
Diluted Earnings per Share
($0.17) ($0.18) ($0.51) ($3.39) ($3.29) ($2.85) ($2.55)
Weighted Average Diluted Shares Outstanding
114.97M 141.74M 200.85M 43.46M 45.41M 53.36M 57.02M
Weighted Average Basic & Diluted Shares Outstanding
114.97M 141.74M 200.85M 219.77M 263.83M 54.71M 62.95M

Quarterly Income Statements for Aeva Technologies

This table shows Aeva Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders
-45 -35 -43 -37 -36 -35 -193 107 -25 -35 -80
Consolidated Net Income / (Loss)
-45 -35 -43 -37 -36 -35 -193 107 -25 -35 -80
Net Income / (Loss) Continuing Operations
-45 -35 -43 -37 -36 -35 -193 107 -25 -35 -80
Total Pre-Tax Income
-45 -35 -43 -37 -36 -35 -193 108 -25 -35 -80
Total Operating Income
-37 -37 -49 -38 -34 -30 -35 -33 -29 -35 -35
Total Gross Profit
-0.87 -1.39 -0.85 -0.72 -0.83 0.31 -2.72 0.43 1.32 1.94 2.19
Total Revenue
1.61 2.11 2.01 2.25 2.70 3.37 5.51 3.58 5.62 6.26 6.14
Operating Revenue
1.61 2.11 2.01 2.25 2.70 3.37 5.51 3.58 5.62 6.26 6.14
Total Cost of Revenue
2.48 3.50 2.86 2.97 3.53 3.06 8.23 3.15 4.30 4.32 3.95
Operating Cost of Revenue
2.48 3.50 2.86 2.97 3.53 3.06 8.23 3.15 4.30 4.32 3.95
Total Operating Expenses
36 36 48 37 33 31 32 34 30 37 37
Selling, General & Admin Expense
7.74 8.41 8.66 8.46 7.73 7.22 7.97 9.62 10 12 10
Marketing Expense
2.04 2.53 1.71 1.58 1.34 1.94 1.39 1.80 1.55 1.90 1.64
Research & Development Expense
26 25 26 27 24 22 23 22 19 23 25
Total Other Income / (Expense), net
-8.12 2.02 5.64 0.50 -1.88 -4.39 -158 141 3.90 0.19 -45
Interest Expense
- - - - - 0.00 0.00 - - 1.18 1.20
Interest & Investment Income
2.42 2.46 2.10 1.77 1.39 1.01 0.62 0.39 0.73 0.88 0.89
Other Income / (Expense), net
-11 -0.44 3.54 -1.27 -3.27 -5.40 -158 140 3.17 0.50 -45
Income Tax Expense
- 0.00 0.12 0.02 0.03 0.06 0.07 0.07 0.12 0.03 0.06
Basic Earnings per Share
($0.99) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) $1.86 ($0.44) ($0.56) ($1.23)
Weighted Average Basic Shares Outstanding
45.41M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 57.88M 57.02M 62.81M 64.67M
Diluted Earnings per Share
($0.99) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) ($0.52) ($0.44) ($0.56) ($1.23)
Weighted Average Diluted Shares Outstanding
45.41M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 61.09M 57.02M 62.81M 64.67M
Weighted Average Basic & Diluted Shares Outstanding
263.83M 52.85M 53.65M 53.88M 54.71M 55.02M 56.33M 60.08M 62.95M 63.04M 69.71M

Annual Cash Flow Statements for Aeva Technologies

This table details how cash moves in and out of Aeva Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
19 -22 42 0.61 -29 -9.68 43
Net Cash From Operating Activities
-16 -21 -82 -110 -119 -107 -115
Net Cash From Continuing Operating Activities
-16 -21 -82 -110 -119 -107 -115
Net Income / (Loss) Continuing Operations
-20 -26 -102 -147 -149 -152 -145
Consolidated Net Income / (Loss)
-20 -26 -102 -147 -149 -152 -145
Depreciation Expense
0.63 0.80 1.15 3.27 4.62 5.48 5.38
Amortization Expense
0.00 0.00 3.40 3.27 0.14 -0.07 2.06
Non-Cash Adjustments To Reconcile Net Income
2.15 3.81 19 22 31 23 48
Changes in Operating Assets and Liabilities, net
0.42 -0.27 -3.32 8.76 -4.83 17 -25
Net Cash From Investing Activities
-0.42 -0.86 -389 111 69 98 30
Net Cash From Continuing Investing Activities
-0.42 -0.86 -389 111 69 98 30
Purchase of Property, Plant & Equipment
-0.42 -0.86 -3.85 -7.44 -6.10 -5.11 -4.61
Purchase of Investments
0.00 0.00 -572 -210 -157 -80 -75
Sale and/or Maturity of Investments
0.00 0.00 192 329 233 183 110
Other Investing Activities, net
0.00 0.00 -4.50 0.00 0.00 0.00 0.00
Net Cash From Financing Activities
36 0.07 513 -0.37 21 -0.67 129
Net Cash From Continuing Financing Activities
36 0.07 513 -0.37 21 -0.67 129
Repurchase of Common Equity
- - - - 0.00 0.00 -3.07
Issuance of Debt
- - - - 0.00 0.00 100
Issuance of Common Equity
- - 0.00 0.00 21 0.00 33
Other Financing Activities, net
0.04 0.07 513 -0.37 -0.78 -0.67 -0.85
Cash Interest Paid
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Income Taxes Paid
0.00 0.00 0.00 0.00 0.00 0.17 0.17

Quarterly Cash Flow Statements for Aeva Technologies

This table details how cash moves in and out of Aeva Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents
-2.00 -8.94 -5.98 6.84 -1.60 -7.65 0.53 24 27 -41 12
Net Cash From Operating Activities
-27 -31 -29 -26 -21 -31 -30 -32 -22 -26 -31
Net Cash From Continuing Operating Activities
-27 -31 -29 -26 -21 -31 -30 -32 -22 -26 -31
Net Income / (Loss) Continuing Operations
-45 -35 -43 -37 -36 -35 -193 107 -25 -35 -80
Consolidated Net Income / (Loss)
-45 -35 -43 -37 -36 -35 -193 107 -25 -35 -80
Depreciation Expense
1.48 1.35 1.40 1.30 1.44 1.39 1.33 1.34 1.33 1.32 1.26
Amortization Expense
-0.04 -0.24 -0.15 0.04 0.28 0.43 0.61 0.61 0.41 0.18 0.13
Non-Cash Adjustments To Reconcile Net Income
9.23 6.16 2.06 8.27 6.81 10.00 168 -132 1.84 8.92 56
Changes in Operating Assets and Liabilities, net
6.97 -2.90 11 1.90 6.72 -7.74 -7.40 -9.54 -0.41 -1.28 -8.44
Net Cash From Investing Activities
4.75 22 23 33 20 23 31 24 -48 -20 -66
Net Cash From Continuing Investing Activities
4.75 22 23 33 20 23 31 24 -48 -20 -66
Purchase of Property, Plant & Equipment
-2.68 -1.65 -0.78 -0.54 -2.14 -0.46 -1.37 -1.27 -1.51 -2.23 -0.19
Purchase of Investments
-60 -39 -13 -11 -17 -16 -7.40 -2.18 -49 -37 -111
Sale and/or Maturity of Investments
67 63 37 44 39 40 39 27 3.20 19 45
Net Cash From Financing Activities
21 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 33 97 5.22 109
Net Cash From Continuing Financing Activities
21 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 33 97 5.22 109
Issuance of Common Equity
- - - - - 0.00 - - - 5.50 115
Other Financing Activities, net
-0.87 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 0.01 -0.40 0.02 0.01
Cash Income Taxes Paid
- 0.00 0.07 0.05 0.05 0.04 0.04 0.05 0.05 0.05 0.05

Annual Balance Sheets for Aeva Technologies

This table presents Aeva Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
0.11 33 479 357 257 147 180
Total Current Assets
0.00 31 458 335 229 123 154
Cash & Equivalents
0.00 25 67 67 39 29 72
Short-Term Investments
- 0.00 378 256 182 83 50
Accounts Receivable
- 0.14 2.34 2.89 0.63 1.19 3.36
Inventories, net
- 1.22 2.06 2.95 2.37 2.35 5.79
Other Current Assets
- 4.97 9.07 5.47 5.20 7.76 22
Plant, Property, & Equipment, net
0.00 1.61 5.14 9.72 12 10 13
Total Noncurrent Assets
0.11 0.06 16 12 16 14 13
Intangible Assets
- - 4.43 3.53 2.63 1.73 0.83
Other Noncurrent Operating Assets
0.11 0.06 11 8.26 13 12 13
Total Liabilities & Shareholders' Equity
0.11 33 479 357 257 147 180
Total Liabilities
0.08 5.72 23 27 29 48 166
Total Current Liabilities
0.08 5.67 14 22 18 39 36
Accounts Payable
- 2.07 4.39 5.18 3.60 5.45 5.89
Accrued Expenses
0.00 2.61 4.11 9.06 2.65 5.71 12
Current Employee Benefit Liabilities
- 0.72 2.20 4.72 6.04 5.78 14
Other Current Liabilities
- 0.28 3.61 2.86 6.11 22 3.98
Total Noncurrent Liabilities
0.00 0.05 8.52 4.88 11 8.98 131
Long-Term Debt
- - - - - 0.00 97
Other Noncurrent Operating Liabilities
- 0.05 8.52 4.88 11 8.98 34
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 0.00 0.00 - - - 0.00
Total Equity & Noncontrolling Interests
0.03 27 456 330 228 99 13
Total Preferred & Common Equity
0.03 27 456 330 228 99 13
Total Common Equity
0.03 27 456 330 228 99 13
Common Stock
0.03 88 620 644 688 711 771
Retained Earnings
-0.00 -61 -163 -310 -460 -612 -757
Accumulated Other Comprehensive Income / (Loss)
- 0.00 -0.52 -3.59 -0.09 0.05 -0.00

Quarterly Balance Sheets for Aeva Technologies

This table presents Aeva Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets
320 292 266 225 198 169 115 91 93 147 228
Total Current Assets
299 271 243 197 172 145 92 68 66 122 204
Cash & Equivalents
32 35 41 30 24 30 21 22 46 31 43
Short-Term Investments
257 227 193 160 137 104 60 28 3.20 68 135
Accounts Receivable
2.45 0.87 0.77 0.98 0.84 0.58 0.78 3.90 1.95 3.45 3.71
Inventories, net
3.01 2.79 2.69 2.16 3.00 2.13 3.88 3.66 4.95 5.98 5.71
Other Current Assets
4.68 5.83 5.62 4.88 8.35 7.75 6.13 11 11 13 16
Plant, Property, & Equipment, net
11 11 11 13 12 11 12 13 12 13 12
Total Noncurrent Assets
11 9.85 12 15 14 12 10 10 14 12 12
Intangible Assets
3.30 3.08 2.85 2.40 2.18 1.95 1.50 1.28 1.05 0.60 0.38
Other Noncurrent Operating Assets
7.52 6.77 8.84 13 11 11 8.93 8.81 13 11 11
Total Liabilities & Shareholders' Equity
320 292 266 225 198 169 115 91 93 147 228
Total Liabilities
18 18 19 27 38 40 46 209 60 160 200
Total Current Liabilities
14 15 15 17 33 34 32 106 21 30 26
Accounts Payable
3.86 6.00 3.31 3.42 3.82 3.01 3.97 4.79 4.41 4.61 7.30
Accrued Expenses
3.86 2.33 2.77 2.64 2.94 4.63 4.59 5.81 9.79 12 9.48
Current Employee Benefit Liabilities
3.41 3.52 4.86 2.44 3.04 4.46 4.71 2.45 3.57 7.85 3.96
Other Current Liabilities
2.73 2.70 3.79 8.09 23 22 19 93 3.10 5.41 5.22
Total Noncurrent Liabilities
4.23 3.60 4.52 10 5.51 6.26 14 104 39 130 174
Long-Term Debt
- - - - - - - - - 97 97
Other Noncurrent Operating Liabilities
4.23 0.06 0.02 10 5.51 6.26 14 104 39 33 77
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
302 274 246 198 160 129 69 -118 33 -12 28
Total Preferred & Common Equity
302 274 246 198 160 129 69 -118 33 -12 28
Total Common Equity
302 274 246 198 160 129 69 -118 33 -12 28
Common Stock
650 657 662 693 699 705 716 721 765 780 900
Retained Earnings
-345 -381 -415 -495 -538 -576 -647 -839 -732 -792 -872
Accumulated Other Comprehensive Income / (Loss)
-2.37 -1.90 -0.98 -0.25 -0.24 0.12 -0.01 -0.01 0.00 -0.03 -0.09

Annual Metrics And Ratios for Aeva Technologies

This table displays calculated financial ratios and metrics derived from Aeva Technologies' official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - - 60,079,908.00
DEI Adjusted Shares Outstanding
- - - - - - 60,079,908.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - -2.42
Growth Metrics
- - - - - - -
Profitability Metrics
- - - - - - -
Net Operating Profit after Tax (NOPAT)
-14 -18 -73 -106 -103 -111 -89
Return On Investment Capital (ROIC_SIMPLE)
- - - -32.24% -45.29% -111.58% -81.27%
Earnings before Interest and Taxes (EBIT)
-20 -26 -102 -151 -158 -160 -148
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-19 -25 -98 -144 -154 -154 -140
Valuation Ratios
- - - - - - -
Leverage & Solvency
- - - - - - -
Liquidity Ratios
- - - - - - -
Cash Flow Metrics
- - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -20 -82 -101 -105 -91 -90
Efficiency Ratios
- - - - - - -
Capital & Investment Metrics
- - - - - - -
Invested Capital
0.11 2.29 11 6.11 7.41 -13 -12
Increase / (Decrease) in Invested Capital
0.00 2.18 9.08 -5.25 1.30 -20 0.66
Book Value per Share
$0.00 $0.87 $2.13 $1.51 $1.02 $1.84 $0.22
Tangible Book Value per Share
$0.00 $0.87 $2.11 $1.50 $1.01 $1.81 $0.21
Total Capital
0.11 27 456 330 228 99 110
Total Debt
0.08 0.00 0.00 0.00 0.00 0.00 97
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 97
Net Debt
0.08 -25 -445 -324 -221 -112 -25
Capital Expenditures (CapEx)
0.42 0.86 3.85 7.44 6.10 5.11 4.61
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-0.00 0.66 -0.82 -11 -10 -28 -4.24
Debt-free Net Working Capital (DFNWC)
-0.00 25 444 313 211 84 118
Net Working Capital (NWC)
-0.08 25 444 313 211 84 118
Net Nonoperating Expense (NNE)
5.53 7.55 29 41 46 41 56
Net Nonoperating Obligations (NNO)
0.08 -25 -445 -324 -221 -112 -25
Total Depreciation and Amortization (D&A)
0.63 0.80 4.55 6.54 4.76 5.41 7.44
Earnings Adjustments
- - - - - - -
Adjusted Basic Earnings per Share
$0.00 ($1.60) ($2.55) ($3.40) ($3.30) ($2.85) ($2.55)
Adjusted Weighted Average Basic Shares Outstanding
0.00 6.21M 43.20M 43.46M 45.41M 53.36M 57.02M
Adjusted Diluted Earnings per Share
$0.00 ($1.60) ($2.55) ($3.40) ($3.30) ($2.85) ($2.55)
Adjusted Weighted Average Diluted Shares Outstanding
0.00 6.21M 43.20M 43.46M 45.41M 53.36M 57.02M
Adjusted Basic & Diluted Earnings per Share
$0.00 ($1.60) ($2.55) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 6.18M 40.17M 43.95M 52.77M 54.71M 62.95M
Normalized Net Operating Profit after Tax (NOPAT)
-14 -18 -73 -106 -103 -103 -89
Debt Service Ratios
- - - - - - -
Payout Ratios
- - - - - - -

Quarterly Metrics And Ratios for Aeva Technologies

This table displays calculated financial ratios and metrics derived from Aeva Technologies' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding
- - - - - - - - 60,079,908.00 62,947,689.00 63,040,821.00
DEI Adjusted Shares Outstanding
- - - - - - - - 60,079,908.00 62,947,689.00 63,040,821.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - -0.42 -0.56 -1.26
Growth Metrics
- - - - - - - - - - -
Revenue Growth
756.91% 83.54% 170.79% 177.78% 67.35% 59.85% 173.91% 59.07% - 85.93% 11.34%
EBITDA Growth
-7.09% -1.41% -19.04% -10.17% 22.11% 7.30% -333.67% 388.64% - 2.54% 59.30%
EBIT Growth
-6.84% -1.46% -18.83% -10.40% 20.85% 5.20% -326.04% 373.80% - 3.28% 58.99%
NOPAT Growth
17.01% -0.21% -28.11% -6.71% 7.07% 18.55% 28.60% -25.00% - -15.51% 1.04%
Net Income Growth
-5.37% -0.43% -20.69% -12.51% 19.61% 1.30% -344.18% 387.45% - -0.32% 58.69%
EPS Growth
-5.37% 16.25% 0.00% 6.67% 31.31% 4.48% -325.61% 25.71% - 12.50% 64.76%
Operating Cash Flow Growth
-1.92% 14.02% -6.41% 7.78% 23.55% 0.55% -2.26% -24.81% - 16.06% -4.50%
Free Cash Flow Firm Growth
-4.91% 22.38% 26.61% 86.32% 85.61% 98.90% 891.74% -515.68% - -9,054.35% -196.79%
Invested Capital Growth
21.26% -34.56% -101.40% -132.28% -270.69% -237.33% -75,589.19% -181.99% - -24.10% 68.18%
Revenue Q/Q Growth
98.89% 30.79% -4.51% 11.83% 19.82% 24.93% 63.63% -35.06% - 11.40% -2.01%
EBITDA Q/Q Growth
-33.89% 20.17% -20.29% 14.32% 5.34% 4.98% -462.74% 157.03% - -37.01% -134.98%
EBIT Q/Q Growth
-33.64% 20.26% -20.08% 13.72% 4.18% 4.50% -439.66% 155.45% - -33.61% -128.81%
NOPAT Q/Q Growth
-3.80% -1.35% -30.98% 22.56% 9.60% 11.16% -14.81% -35.57% - -20.76% 1.64%
Net Income Q/Q Growth
-35.28% 21.44% -22.84% 13.82% 3.34% 3.54% -452.79% 155.77% - -38.18% -127.63%
EPS Q/Q Growth
-35.28% 32.32% -22.39% 14.63% 2.86% 5.88% -445.31% 85.10% - -27.27% -119.64%
Operating Cash Flow Q/Q Growth
2.63% -13.27% 5.80% 11.24% 19.28% -47.34% 3.14% -8.34% - -16.70% -20.58%
Free Cash Flow Firm Q/Q Growth
0.94% 20.81% 15.60% 79.34% -4.23% 93.93% 60,692.52% -116.06% - -2.99% -540.65%
Invested Capital Q/Q Growth
-56.94% 19.67% -102.50% -2,403.15% -127.73% 3.72% -1,279.10% 90.67% - -26.09% -253.59%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
-54.13% -66.07% -42.15% -32.04% -30.75% 9.20% -49.36% 12.01% - 31.00% 35.67%
EBITDA Margin
-2,852.08% -1,740.86% -2,193.04% -1,680.27% -1,327.37% -1,009.62% -3,472.20% 3,049.04% - -529.24% -1,269.17%
Operating Margin
-2,287.09% -1,772.38% -2,431.06% -1,683.38% -1,269.99% -903.15% -633.70% -926.54% - -561.10% -563.23%
EBIT Margin
-2,941.22% -1,793.21% -2,254.92% -1,739.73% -1,391.17% -1,063.45% -3,507.37% 2,994.58% - -553.19% -1,291.77%
Profit (Net Income) Margin
-2,791.19% -1,676.60% -2,156.71% -1,662.04% -1,340.73% -1,035.24% -3,497.41% 3,003.49% - -558.59% -1,297.65%
Tax Burden Percent
100.00% 100.00% 100.28% 100.06% 100.07% 100.16% 100.04% 99.94% - 100.09% 100.07%
Interest Burden Percent
94.90% 93.50% 95.37% 95.48% 96.30% 97.19% 99.68% 100.36% - 100.88% 100.38%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% - 0.00% 0.00%
Return on Invested Capital (ROIC)
-1,020.60% -583.11% -1,418.84% -1,613.06% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
-1,013.56% -579.26% -1,414.46% -1,607.08% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
989.01% 553.28% 1,363.28% 1,557.21% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Equity (ROE)
-31.59% -29.82% -55.56% -55.86% -92.90% -113.70% -1,441.64% -192.35% - -516.07% 71.53%
Cash Return on Invested Capital (CROIC)
-1,548.66% -881.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Return on Assets (OROA)
-41.31% -34.70% -60.21% -63.86% -62.30% -64.72% -335.27% 346.50% - -88.62% -174.95%
Return on Assets (ROA)
-39.20% -32.44% -57.59% -61.01% -60.04% -63.00% -334.32% 347.53% - -89.48% -175.75%
Return on Common Equity (ROCE)
-31.59% -29.82% -55.56% -55.86% -92.90% -113.70% -1,441.64% -192.35% - -516.07% 71.53%
Return on Equity Simple (ROE_SIMPLE)
0.00% -75.42% -98.10% -124.62% 0.00% -220.60% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
-26 -26 -34 -27 -24 -21 -24 -33 -20 -25 -24
NOPAT Margin
-1,600.96% -1,240.66% -1,701.74% -1,178.36% -888.99% -632.20% -443.59% -925.98% - -392.77% -394.26%
Net Nonoperating Expense Percent (NNEP)
-7.04% -3.85% -4.38% -5.98% -7.31% -10.04% -160.26% 153.11% - -24.81% -84.73%
Return On Investment Capital (ROIC_SIMPLE)
-11.29% -13.19% - - -24.12% -30.94% 20.69% -99.77% -18.53% -29.15% -19.44%
Cost of Revenue to Revenue
154.13% 166.07% 142.15% 132.04% 130.75% 90.80% 149.36% 87.99% - 69.00% 64.33%
SG&A Expenses to Revenue
480.51% 399.19% 430.57% 375.82% 286.68% 214.28% 144.60% 268.90% - 197.25% 166.49%
R&D to Revenue
1,626.13% 1,187.09% 1,301.99% 1,205.16% 902.93% 640.41% 414.46% 619.28% - 364.52% 405.62%
Operating Expenses to Revenue
2,232.96% 1,706.31% 2,388.92% 1,651.33% 1,239.24% 912.35% 584.34% 938.56% - 592.10% 598.91%
Earnings before Interest and Taxes (EBIT)
-47 -38 -45 -39 -38 -36 -193 107 -26 -35 -79
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-46 -37 -44 -38 -36 -34 -191 109 -24 -33 -78
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.74 1.05 0.83 1.37 2.58 5.57 0.00 24.59 - 0.00 65.77
Price to Tangible Book Value (P/TBV)
0.75 1.06 0.84 1.39 2.62 5.69 0.00 25.39 - 0.00 66.67
Price to Revenue (P/Rev)
39.26 39.34 20.36 22.12 28.23 37.09 150.40 53.90 - 39.50 83.83
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.00 2.03 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Revenue (EV/Rev)
0.00 3.42 0.00 5.22 15.88 29.25 146.80 50.67 - 39.37 80.08
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 28.35 0.00 - 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -7.80 3.52
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -7.80 3.52
Financial Leverage
-0.98 -0.96 -0.96 -0.97 -1.02 -1.01 -5.03 -1.13 - -1.48 1.44
Leverage Ratio
1.10 1.09 1.13 1.16 1.24 1.27 6.92 1.61 - 4.64 -3.52
Compound Leverage Factor
1.04 1.02 1.08 1.11 1.19 1.24 6.90 1.62 - 4.68 -3.53
Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 114.71% 77.87%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 114.71% 77.87%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Common Equity to Total Capital
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - -14.71% 22.13%
Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -0.69 -3.72
Net Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.02 3.11
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -0.69 -3.72
Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -1.05 -1.05
Net Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.03 0.88
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -1.05 -1.05
Altman Z-Score
1.40 2.03 -1.59 -2.03 -2.71 -3.19 -14.27 1.75 - -4.30 -0.05
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
12.46 11.89 5.28 4.32 3.15 2.88 0.65 3.18 - 4.09 7.85
Quick Ratio
12.04 11.47 4.93 4.03 2.89 2.56 0.51 2.44 - 3.45 6.99
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-27 -21 -18 -3.74 -3.90 -0.24 143 -23 -21 -22 -139
Operating Cash Flow to CapEx
-1,019.54% -1,878.76% -3,743.90% -4,776.38% -977.46% -6,708.50% -2,183.31% -2,536.26% - -1,161.71% -16,847.03%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -18.31 -116.02
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -21.85 -26.06
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -23.73 -26.21
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.01 0.02 0.03 0.04 0.04 0.06 0.10 0.12 - 0.16 0.14
Accounts Receivable Turnover
2.45 3.08 7.64 11.88 9.99 11.78 5.83 12.02 - 9.92 5.68
Inventory Turnover
3.83 4.32 3.93 4.90 5.45 4.11 5.34 5.08 - 4.05 3.36
Fixed Asset Turnover
0.40 0.45 0.56 0.71 0.81 0.83 1.11 1.28 - 1.64 1.72
Accounts Payable Turnover
2.32 3.07 2.31 3.74 2.84 3.36 4.13 4.84 - 4.66 2.60
Days Sales Outstanding (DSO)
148.77 118.52 47.77 30.74 36.54 30.98 62.57 30.36 - 36.80 64.29
Days Inventory Outstanding (DIO)
95.29 84.47 92.90 74.42 66.99 88.87 68.32 71.87 - 90.02 108.77
Days Payable Outstanding (DPO)
157.20 118.98 157.73 97.58 128.55 108.63 88.42 75.42 - 78.27 140.39
Cash Conversion Cycle (CCC)
86.87 84.00 -17.06 7.58 -25.02 11.22 42.47 26.81 - 48.55 32.67
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
7.41 8.87 -0.22 -5.56 -13 -12 -168 -16 -12 -15 -53
Invested Capital Turnover
0.64 0.47 0.83 1.37 -3.46 -6.24 -0.16 -1.43 - -1.54 -0.20
Increase / (Decrease) in Invested Capital
1.30 -4.69 -16 -23 -20 -21 -168 -10 0.66 -2.94 115
Enterprise Value (EV)
-52 18 -27 42 144 302 2,029 768 - 826 1,730
Market Capitalization
169 207 133 177 256 383 2,079 817 - 828 1,811
Book Value per Share
$1.02 $0.75 $3.03 $2.41 $1.84 $1.26 ($2.15) $0.59 $0.22 ($0.20) $0.44
Tangible Book Value per Share
$1.01 $0.74 $2.99 $2.37 $1.81 $1.23 ($2.17) $0.57 $0.21 ($0.21) $0.43
Total Capital
228 198 160 129 99 69 -118 33 110 84 124
Total Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 97 97 97
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 97 97 97
Net Debt
-221 -189 -160 -135 -112 -81 -50 -49 -25 -2.71 -81
Capital Expenditures (CapEx)
2.68 1.65 0.78 0.54 2.14 0.46 1.37 1.27 1.51 2.23 0.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-10 -8.57 -20 -23 -28 -21 -87 -3.33 -4.24 -7.23 -0.15
Debt-free Net Working Capital (DFNWC)
211 181 140 112 84 60 -37 46 118 92 178
Net Working Capital (NWC)
211 181 140 112 84 60 -37 46 118 92 178
Net Nonoperating Expense (NNE)
19 9.19 9.15 11 12 14 168 -141 4.95 10 55
Net Nonoperating Obligations (NNO)
-221 -189 -160 -135 -112 -81 -50 -49 -25 -2.71 -81
Total Depreciation and Amortization (D&A)
1.44 1.10 1.25 1.34 1.72 1.81 1.94 1.95 1.74 1.50 1.39
Debt-free, Cash-free Net Working Capital to Revenue
-236.71% -162.59% -312.52% -290.26% -307.40% -204.53% -631.12% -21.96% - -34.47% -0.70%
Debt-free Net Working Capital to Revenue
4,889.17% 3,429.29% 2,136.74% 1,399.17% 928.20% 579.86% -270.55% 300.65% - 439.97% 822.93%
Net Working Capital to Revenue
4,889.17% 3,429.29% 2,136.74% 1,399.17% 928.20% 579.86% -270.55% 300.65% - 439.97% 822.93%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($4.95) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) $1.86 ($0.44) ($0.56) ($1.23)
Adjusted Weighted Average Basic Shares Outstanding
9.08M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 57.88M 57.02M 62.81M 64.67M
Adjusted Diluted Earnings per Share
($4.95) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) ($0.52) ($0.44) ($0.56) ($1.23)
Adjusted Weighted Average Diluted Shares Outstanding
9.08M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 61.09M 57.02M 62.81M 64.67M
Adjusted Basic & Diluted Earnings per Share
($4.95) $0.00 $0.00 $0.00 ($0.68) $0.00 $0.00 $0.00 ($0.44) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
52.77M 52.85M 53.65M 53.88M 54.71M 55.02M 56.33M 60.08M 62.95M 63.04M 69.71M
Normalized Net Operating Profit after Tax (NOPAT)
-26 -26 -26 -27 -24 -21 -24 -33 -20 -25 -24
Normalized NOPAT Margin
-1,600.96% -1,240.66% -1,301.65% -1,178.36% -888.99% -632.20% -443.59% -925.98% - -392.77% -394.26%
Pre Tax Income Margin
-2,791.19% -1,676.60% -2,150.60% -1,661.07% -1,339.76% -1,033.55% -3,496.14% 3,005.34% - -558.08% -1,296.71%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -29.28 -66.27
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -20.79 -20.23
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -31.16 -66.43
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -22.67 -20.38
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% -27.21%

Financials Breakdown Chart

Key Financial Trends

Aeva Technologies’ financial results show improving revenue and gross margins, but the company remains heavily loss-making and dependent on external financing. Revenue increased from $1.5 million in Q2 2022 to $6.1 million in Q2 2026, although the latest quarter was slightly below Q1 2026’s $6.3 million. The balance sheet also benefited from a recent equity raise, but cash burn, debt and shareholder dilution remain important risks.

  • Revenue has grown substantially. Quarterly revenue rose to $6.1 million in Q2 2026 from $3.4 million in Q1 2025 and $1.5 million in Q2 2022. This indicates continued commercial progress, even though growth has been uneven.
  • Gross profitability has improved. Aeva generated $2.2 million of gross profit in Q2 2026, equal to a gross margin of approximately 36%. Gross profit was $1.9 million in Q1 2026, while Q2 2025 and earlier periods included negative gross margins.
  • Liquidity improved after an equity raise. Cash and short-term investments totaled approximately $178.0 million at June 30, 2026, compared with $99.9 million at March 31, 2026. The increase was supported primarily by $115.0 million of common-equity issuance during Q2.
  • Current assets provide a sizable liquidity cushion. Current assets of $203.7 million exceeded current liabilities of $26.0 million by roughly $177.7 million. This should help Aeva fund operations in the near term, assuming cash use does not accelerate materially.
  • Operating expenses remain concentrated in research and development. R&D spending was $24.9 million in Q2 2026, or about two-thirds of total operating expenses. This investment could support future product adoption, but it has not yet translated into operating profitability.
  • Reported results include significant nonrecurring and noncash effects. Q2 2026 included a $44.7 million net other expense and $55.5 million of noncash adjustments in the cash-flow reconciliation. Investors should review the filing for the nature of these items before using headline net income to project future performance.
  • Losses remain substantial. Aeva reported a Q2 2026 net loss of $79.6 million, or $1.23 per diluted share, compared with a $35.0 million loss in Q1 2026. The latest loss was driven by the large other expense in addition to a $34.6 million operating loss.
  • Cash flow from operations remains deeply negative. Operating cash outflow was $31.2 million in Q2 2026, following outflows of $25.8 million in Q1 2026 and $22.1 million in Q4 2025. Aeva continues to consume cash despite its improving gross profit.
  • The company remains dependent on outside capital. Financing provided $109.3 million during Q2 2026, offsetting negative operating and investing cash flow. Without recurring equity or debt financing, the current cash balance would decline relatively quickly at recent operating burn rates.
  • Debt and dilution have increased financial risk. Long-term debt was $96.9 million at June 30, 2026, while total liabilities reached $200.3 million and equity was only $27.5 million. In addition, weighted-average basic shares increased to 64.7 million in Q2 2026 from 55.2 million in Q2 2024, reducing existing shareholders’ ownership percentage.

Overall, the statements show a company moving toward higher revenue and positive gross margins, but not yet toward self-sustaining profitability. For investors, the key metrics to monitor are recurring revenue growth, operating cash burn, the quality of the reported gross profit and whether future financing can be reduced without materially increasing debt or dilution.

09/26/26 04:01 AM ETAI Generated. May Contain Errors.

Aeva Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Aeva Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Aeva Technologies' net income appears to be on a downward trend, with a most recent value of -$145.43 million in 2025, falling from -$19.59 million in 2019. The previous period was -$152.26 million in 2024. Find out what analysts predict for Aeva Technologies in the coming months.

Aeva Technologies' total operating income in 2025 was -$127.60 million, based on the following breakdown:
  • Total Gross Profit: -$660 thousand
  • Total Operating Expenses: $126.94 million

Over the last 6 years, Aeva Technologies' total revenue changed from $1.38 million in 2019 to $18.08 million in 2025, a change of 1,206.3%.

In the past 13 quarters, Aeva Technologies' cash and equivalents has ranged from $21.21 million in Q1 2025 to $45.69 million in Q3 2025, and is currently $43.24 million as of their latest financial filing in Q2 2026.

Aeva Technologies had total debt of $96.69 million at the end of 2025, compared with none in 2024, and a 119,557.7% increase since 2019.

Over the last 6 years, Aeva Technologies' book value per share changed from 0.00 in 2019 to 0.22 in 2025, a change of 109,900.0%.



Financial statements for NASDAQ:AEVA last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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