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Aeva Technologies (AEVAW) Financials

Aeva Technologies logo
$0.0059 0.00 (0.00%)
As of 03/11/2026
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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders
-33 -45 -35 -43 -37 -36 -35 -193 107 -25 -35
Consolidated Net Income / (Loss)
-33 -45 -35 -43 -37 -36 -35 -193 107 -25 -35
Net Income / (Loss) Continuing Operations
-33 -45 -35 -43 -37 -36 -35 -193 107 -25 -35
Total Pre-Tax Income
-33 -45 -35 -43 -37 -36 -35 -193 108 -25 -35
Total Operating Income
-35 -37 -37 -49 -38 -34 -30 -35 -33 -29 -35
Total Gross Profit
-1.72 -0.87 -1.39 -0.85 -0.72 -0.83 0.31 -2.72 0.43 1.32 1.94
Total Revenue
0.81 1.61 2.11 2.01 2.25 2.70 3.37 5.51 3.58 5.62 6.26
Operating Revenue
0.81 1.61 2.11 2.01 2.25 2.70 3.37 5.51 3.58 5.62 6.26
Total Cost of Revenue
2.53 2.48 3.50 2.86 2.97 3.53 3.06 8.23 3.15 4.30 4.32
Operating Cost of Revenue
2.53 2.48 3.50 2.86 2.97 3.53 3.06 8.23 3.15 4.30 4.32
Total Operating Expenses
34 36 36 48 37 33 31 32 34 30 37
Selling, General & Admin Expense
8.47 7.74 8.41 8.66 8.46 7.73 7.22 7.97 9.62 10 12
Marketing Expense
1.52 2.04 2.53 1.71 1.58 1.34 1.94 1.39 1.80 1.55 1.90
Research & Development Expense
24 26 25 26 27 24 22 23 22 19 23
Other Special Charges / (Income)
0.00 - - 12 0.00 - 0.00 0.00 0.00 - 0.00
Total Other Income / (Expense), net
2.26 -8.12 2.02 5.64 0.50 -1.88 -4.39 -158 141 3.90 0.19
Interest Expense
- - - - - - 0.00 - - - 1.18
Interest & Investment Income
2.22 2.42 2.46 2.10 1.77 1.39 1.01 0.62 0.39 0.73 0.88
Other Income / (Expense), net
0.04 -11 -0.44 3.54 -1.27 -3.27 -5.40 -158 140 3.17 0.50
Income Tax Expense
0.00 - 0.00 0.12 0.02 0.03 0.06 0.07 0.07 0.12 0.03
Basic Earnings per Share
($0.75) ($0.99) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) $1.86 ($0.44) ($0.56)
Weighted Average Basic Shares Outstanding
44.57M 45.41M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 57.88M 57.02M 62.81M
Diluted Earnings per Share
($0.75) ($0.99) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) ($0.52) ($0.44) ($0.56)
Weighted Average Diluted Shares Outstanding
44.57M 45.41M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 61.09M 57.02M 62.81M
Weighted Average Basic & Diluted Shares Outstanding
223.45M 263.83M 52.85M 53.65M 53.88M 54.71M 55.02M 56.33M 60.08M 62.95M 63.04M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents
5.87 -2.00 -8.94 -5.98 6.84 -1.60 -7.65 0.53 24 27 -41
Net Cash From Operating Activities
-28 -27 -31 -29 -26 -21 -31 -30 -32 -22 -26
Net Cash From Continuing Operating Activities
-28 -27 -31 -29 -26 -21 -31 -30 -32 -22 -26
Net Income / (Loss) Continuing Operations
-33 -45 -35 -43 -37 -36 -35 -193 107 -25 -35
Consolidated Net Income / (Loss)
-33 -45 -35 -43 -37 -36 -35 -193 107 -25 -35
Depreciation Expense
1.04 1.48 1.35 1.40 1.30 1.44 1.39 1.33 1.34 1.33 1.32
Amortization Expense
0.10 -0.04 -0.24 -0.15 0.04 0.28 0.43 0.61 0.61 0.41 0.18
Non-Cash Adjustments To Reconcile Net Income
6.64 9.23 6.16 2.06 8.27 6.81 10.00 168 -132 1.84 8.92
Changes in Operating Assets and Liabilities, net
-2.61 6.97 -2.90 11 1.90 6.72 -7.74 -7.40 -9.54 -0.41 -1.28
Net Cash From Investing Activities
34 4.75 22 23 33 20 23 31 24 -48 -20
Net Cash From Continuing Investing Activities
34 4.75 22 23 33 20 23 31 24 -48 -20
Purchase of Property, Plant & Equipment
-1.04 -2.68 -1.65 -0.78 -0.54 -2.14 -0.46 -1.37 -1.27 -1.51 -2.23
Purchase of Investments
-24 -60 -39 -13 -11 -17 -16 -7.40 -2.18 -49 -37
Sale and/or Maturity of Investments
59 67 63 37 44 39 40 39 27 3.20 19
Net Cash From Financing Activities
-0.01 21 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 33 97 5.22
Net Cash From Continuing Financing Activities
-0.01 21 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 33 97 5.22
Repayment of Debt
- - - - - - 0.00 - - - -0.30
Issuance of Common Equity
- - - - - - 0.00 - - - 5.50
Other Financing Activities, net
-0.01 -0.87 -0.02 -0.22 -0.12 -0.31 -0.18 -0.28 0.01 -0.40 0.02
Cash Interest Paid
- - 0.00 - - - 0.00 - - - 0.00
Cash Income Taxes Paid
- - 0.00 0.07 0.05 0.05 0.04 0.04 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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets
388 320 292 266 225 198 169 115 91 93 147
Total Current Assets
365 299 271 243 197 172 145 92 68 66 122
Cash & Equivalents
118 32 35 41 30 24 30 21 22 46 31
Short-Term Investments
233 257 227 193 160 137 104 60 28 3.20 68
Accounts Receivable
3.39 2.45 0.87 0.77 0.98 0.84 0.58 0.78 3.90 1.95 3.45
Inventories, net
1.51 3.01 2.79 2.69 2.16 3.00 2.13 3.88 3.66 4.95 5.98
Other Current Assets
9.69 4.68 5.83 5.62 4.88 8.35 7.75 6.13 11 11 13
Plant, Property, & Equipment, net
9.38 11 11 11 13 12 11 12 13 12 13
Total Noncurrent Assets
13 11 9.85 12 15 14 12 10 10 14 12
Intangible Assets
3.75 3.30 3.08 2.85 2.40 2.18 1.95 1.50 1.28 1.05 0.60
Other Noncurrent Operating Assets
9.00 7.52 6.77 8.84 13 11 11 8.93 8.81 13 11
Total Liabilities & Shareholders' Equity
388 320 292 266 225 198 169 115 91 93 147
Total Liabilities
22 18 18 19 27 38 40 46 209 60 160
Total Current Liabilities
16 14 15 15 17 33 34 32 106 21 30
Accounts Payable
5.88 3.86 6.00 3.31 3.42 3.82 3.01 3.97 4.79 4.41 4.61
Accrued Expenses
4.05 3.86 2.33 2.77 2.64 2.94 4.63 4.59 5.81 9.79 12
Current Employee Benefit Liabilities
3.59 3.41 3.52 4.86 2.44 3.04 4.46 4.71 2.45 3.57 7.85
Other Current Liabilities
2.95 2.73 2.70 3.79 8.09 23 22 19 93 3.10 5.41
Total Noncurrent Liabilities
5.54 4.23 3.60 4.52 10 5.51 6.26 14 104 39 130
Long-Term Debt
- - - - - - - - - - 97
Other Noncurrent Operating Liabilities
5.54 4.23 0.06 0.02 10 5.51 6.26 14 104 39 33
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
366 302 274 246 198 160 129 69 -118 33 -12
Total Preferred & Common Equity
366 302 274 246 198 160 129 69 -118 33 -12
Total Common Equity
366 302 274 246 198 160 129 69 -118 33 -12
Common Stock
638 650 657 662 693 699 705 716 721 765 780
Retained Earnings
-268 -345 -381 -415 -495 -538 -576 -647 -839 -732 -792
Accumulated Other Comprehensive Income / (Loss)
-4.68 -2.37 -1.90 -0.98 -0.25 -0.24 0.12 -0.01 -0.01 0.00 -0.03

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding
- - - - - - - - - 60,079,908.00 62,947,689.00
DEI Adjusted Shares Outstanding
- - - - - - - - - 60,079,908.00 62,947,689.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - -0.42 -0.56
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-41.05% 756.91% 83.54% 170.79% 177.78% 67.35% 59.85% 173.91% 59.07% - 85.93%
EBITDA Growth
6.72% -7.09% -1.41% -19.04% -10.17% 22.11% 7.30% -333.67% 388.64% - 2.54%
EBIT Growth
5.87% -6.84% -1.46% -18.83% -10.40% 20.85% 5.20% -326.04% 373.80% - 3.28%
NOPAT Growth
6.10% 17.01% -0.21% -28.11% -6.71% 7.07% 18.55% 28.60% -25.00% - -15.51%
Net Income Growth
8.94% -5.37% -0.43% -20.69% -12.51% 19.61% 1.30% -344.18% 387.45% - -0.32%
EPS Growth
8.94% -5.37% 16.25% 0.00% 6.67% 31.31% 4.48% -325.61% 25.71% - 12.50%
Operating Cash Flow Growth
-11.75% -1.92% 14.02% -6.41% 7.78% 23.55% 0.55% -2.26% -24.81% - 16.06%
Free Cash Flow Firm Growth
25.48% -4.91% 22.38% 26.61% 86.32% 85.61% 98.90% 891.74% -515.68% - -9,054.35%
Invested Capital Growth
16.99% 21.26% -34.56% -101.40% -132.28% -270.69% -237.33% -75,589.19% -181.99% - -24.10%
Revenue Q/Q Growth
9.02% 98.89% 30.79% -4.51% 11.83% 19.82% 24.93% 63.63% -35.06% - 11.40%
EBITDA Q/Q Growth
7.42% -33.89% 20.17% -20.29% 14.32% 5.34% 4.98% -462.74% 157.03% - -37.01%
EBIT Q/Q Growth
7.13% -33.64% 20.26% -20.08% 13.72% 4.18% 4.50% -439.66% 155.45% - -33.61%
NOPAT Q/Q Growth
7.03% -3.80% -1.35% -30.98% 22.56% 9.60% 11.16% -14.81% -35.57% - -20.76%
Net Income Q/Q Growth
7.56% -35.28% 21.44% -22.84% 13.82% 3.34% 3.54% -452.79% 155.77% - -38.18%
EPS Q/Q Growth
7.56% -35.28% 32.32% -22.39% 14.63% 2.86% 5.88% -445.31% 85.10% - -27.27%
Operating Cash Flow Q/Q Growth
-2.43% 2.63% -13.27% 5.80% 11.24% 19.28% -47.34% 3.14% -8.34% - -16.70%
Free Cash Flow Firm Q/Q Growth
-10.84% 0.94% 20.81% 15.60% 79.34% -4.23% 93.93% 60,692.52% -116.06% - -2.99%
Invested Capital Q/Q Growth
8.21% -56.94% 19.67% -102.50% -2,403.15% -127.73% 3.72% -1,279.10% 90.67% - -26.09%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
-211.73% -54.13% -66.07% -42.15% -32.04% -30.75% 9.20% -49.36% 12.01% - 31.00%
EBITDA Margin
-4,236.67% -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%
Operating Margin
-4,382.22% -2,287.09% -1,772.38% -2,431.06% -1,683.38% -1,269.99% -903.15% -633.70% -926.54% - -561.10%
EBIT Margin
-4,377.41% -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%
Profit (Net Income) Margin
-4,103.46% -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%
Tax Burden Percent
100.00% 100.00% 100.00% 100.28% 100.06% 100.07% 100.16% 100.04% 99.94% - 100.09%
Interest Burden Percent
93.74% 94.90% 93.50% 95.37% 95.48% 96.30% 97.19% 99.68% 100.36% - 100.88%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% - 0.00%
Return on Invested Capital (ROIC)
-555.07% -1,020.60% -583.11% -1,418.84% -1,613.06% 0.00% 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
-552.17% -1,013.56% -579.26% -1,414.46% -1,607.08% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)
523.36% 989.01% 553.28% 1,363.28% 1,557.21% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)
-31.71% -31.59% -29.82% -55.56% -55.86% -92.90% -113.70% -1,441.64% -192.35% - -516.07%
Cash Return on Invested Capital (CROIC)
-696.71% -1,548.66% -881.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)
-38.72% -41.31% -34.70% -60.21% -63.86% -62.30% -64.72% -335.27% 346.50% - -88.62%
Return on Assets (ROA)
-36.30% -39.20% -32.44% -57.59% -61.01% -60.04% -63.00% -334.32% 347.53% - -89.48%
Return on Common Equity (ROCE)
-31.71% -31.59% -29.82% -55.56% -55.86% -92.90% -113.70% -1,441.64% -192.35% - -516.07%
Return on Equity Simple (ROE_SIMPLE)
-59.67% 0.00% -75.42% -98.10% -124.62% 0.00% -220.60% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
-25 -26 -26 -34 -27 -24 -21 -24 -33 -20 -25
NOPAT Margin
-3,067.56% -1,600.96% -1,240.66% -1,701.74% -1,178.36% -888.99% -632.20% -443.59% -925.98% - -392.77%
Net Nonoperating Expense Percent (NNEP)
-2.89% -7.04% -3.85% -4.38% -5.98% -7.31% -10.04% -160.26% 153.11% - -24.81%
Return On Investment Capital (ROIC_SIMPLE)
- -11.29% -13.19% - - -24.12% -30.94% 20.69% -99.77% -18.53% -29.15%
Cost of Revenue to Revenue
311.73% 154.13% 166.07% 142.15% 132.04% 130.75% 90.80% 149.36% 87.99% - 69.00%
SG&A Expenses to Revenue
1,046.17% 480.51% 399.19% 430.57% 375.82% 286.68% 214.28% 144.60% 268.90% - 197.25%
R&D to Revenue
2,936.67% 1,626.13% 1,187.09% 1,301.99% 1,205.16% 902.93% 640.41% 414.46% 619.28% - 364.52%
Operating Expenses to Revenue
4,170.49% 2,232.96% 1,706.31% 2,388.92% 1,651.33% 1,239.24% 912.35% 584.34% 938.56% - 592.10%
Earnings before Interest and Taxes (EBIT)
-35 -47 -38 -45 -39 -38 -36 -193 107 -26 -35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-34 -46 -37 -44 -38 -36 -34 -191 109 -24 -33
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.69 0.74 1.05 0.83 1.37 2.58 5.57 0.00 24.59 - 0.00
Price to Tangible Book Value (P/TBV)
0.70 0.75 1.06 0.84 1.39 2.62 5.69 0.00 25.39 - 0.00
Price to Revenue (P/Rev)
58.97 39.26 39.34 20.36 22.12 28.23 37.09 150.40 53.90 - 39.50
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 0.00 2.03 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)
0.00 0.00 3.42 0.00 5.22 15.88 29.25 146.80 50.67 - 39.37
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 0.00 28.35 0.00 - 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -7.80
Long-Term Debt to Equity
0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -7.80
Financial Leverage
-0.95 -0.98 -0.96 -0.96 -0.97 -1.02 -1.01 -5.03 -1.13 - -1.48
Leverage Ratio
1.07 1.10 1.09 1.13 1.16 1.24 1.27 6.92 1.61 - 4.64
Compound Leverage Factor
1.00 1.04 1.02 1.08 1.11 1.19 1.24 6.90 1.62 - 4.68
Debt to Total Capital
1.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 114.71%
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
1.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 114.71%
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
98.21% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - -14.71%
Debt to EBITDA
-0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -0.69
Net Debt to EBITDA
1.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.02
Long-Term Debt to EBITDA
-0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -0.69
Debt to NOPAT
-0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -1.05
Net Debt to NOPAT
2.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.03
Long-Term Debt to NOPAT
-0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -1.05
Altman Z-Score
3.72 1.40 2.03 -1.59 -2.03 -2.71 -3.19 -14.27 1.75 - -4.30
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
16.48 12.46 11.89 5.28 4.32 3.15 2.88 0.65 3.18 - 4.09
Quick Ratio
15.92 12.04 11.47 4.93 4.03 2.89 2.56 0.51 2.44 - 3.45
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-27 -27 -21 -18 -3.74 -3.90 -0.24 143 -23 -21 -22
Operating Cash Flow to CapEx
-2,712.37% -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%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -18.31
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -21.85
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -23.73
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.01 0.01 0.02 0.03 0.04 0.04 0.06 0.10 0.12 - 0.16
Accounts Receivable Turnover
1.39 2.45 3.08 7.64 11.88 9.99 11.78 5.83 12.02 - 9.92
Inventory Turnover
5.25 3.83 4.32 3.93 4.90 5.45 4.11 5.34 5.08 - 4.05
Fixed Asset Turnover
0.28 0.40 0.45 0.56 0.71 0.81 0.83 1.11 1.28 - 1.64
Accounts Payable Turnover
2.40 2.32 3.07 2.31 3.74 2.84 3.36 4.13 4.84 - 4.66
Days Sales Outstanding (DSO)
262.54 148.77 118.52 47.77 30.74 36.54 30.98 62.57 30.36 - 36.80
Days Inventory Outstanding (DIO)
69.57 95.29 84.47 92.90 74.42 66.99 88.87 68.32 71.87 - 90.02
Days Payable Outstanding (DPO)
152.03 157.20 118.98 157.73 97.58 128.55 108.63 88.42 75.42 - 78.27
Cash Conversion Cycle (CCC)
180.08 86.87 84.00 -17.06 7.58 -25.02 11.22 42.47 26.81 - 48.55
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
17 7.41 8.87 -0.22 -5.56 -13 -12 -168 -16 -12 -15
Invested Capital Turnover
0.18 0.64 0.47 0.83 1.37 -3.46 -6.24 -0.16 -1.43 - -1.54
Increase / (Decrease) in Invested Capital
2.50 1.30 -4.69 -16 -23 -20 -21 -168 -10 0.66 -2.94
Enterprise Value (EV)
-59 -52 18 -27 42 144 302 2,029 768 - 826
Market Capitalization
170 169 207 133 177 256 383 2,079 817 - 828
Book Value per Share
$1.11 $1.02 $0.75 $3.03 $2.41 $1.84 $1.26 ($2.15) $0.59 $0.22 ($0.20)
Tangible Book Value per Share
$1.09 $1.01 $0.74 $2.99 $2.37 $1.81 $1.23 ($2.17) $0.57 $0.21 ($0.21)
Total Capital
251 228 198 160 129 99 69 -118 33 110 84
Total Debt
4.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 97 97
Total Long-Term Debt
4.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 97 97
Net Debt
-229 -221 -189 -160 -135 -112 -81 -50 -49 -25 -2.71
Capital Expenditures (CapEx)
1.04 2.68 1.65 0.78 0.54 2.14 0.46 1.37 1.27 1.51 2.23
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-5.65 -10 -8.57 -20 -23 -28 -21 -87 -3.33 -4.24 -7.23
Debt-free Net Working Capital (DFNWC)
228 211 181 140 112 84 60 -37 46 118 92
Net Working Capital (NWC)
228 211 181 140 112 84 60 -37 46 118 92
Net Nonoperating Expense (NNE)
8.39 19 9.19 9.15 11 12 14 168 -141 4.95 10
Net Nonoperating Obligations (NNO)
-229 -221 -189 -160 -135 -112 -81 -50 -49 -25 -2.71
Total Depreciation and Amortization (D&A)
1.14 1.44 1.10 1.25 1.34 1.72 1.81 1.94 1.95 1.74 1.50
Debt-free, Cash-free Net Working Capital to Revenue
-195.50% -236.71% -162.59% -312.52% -290.26% -307.40% -204.53% -631.12% -21.96% - -34.47%
Debt-free Net Working Capital to Revenue
7,893.49% 4,889.17% 3,429.29% 2,136.74% 1,399.17% 928.20% 579.86% -270.55% 300.65% - 439.97%
Net Working Capital to Revenue
7,893.49% 4,889.17% 3,429.29% 2,136.74% 1,399.17% 928.20% 579.86% -270.55% 300.65% - 439.97%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.75) ($4.95) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) $1.86 ($0.44) ($0.56)
Adjusted Weighted Average Basic Shares Outstanding
44.57M 9.08M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 57.88M 57.02M 62.81M
Adjusted Diluted Earnings per Share
($0.75) ($4.95) ($0.67) ($0.82) ($0.70) ($0.68) ($0.64) ($3.49) ($0.52) ($0.44) ($0.56)
Adjusted Weighted Average Diluted Shares Outstanding
44.57M 9.08M 52.74M 53.00M 53.70M 53.36M 54.75M 55.16M 61.09M 57.02M 62.81M
Adjusted Basic & Diluted Earnings per Share
$0.00 ($4.95) $0.00 $0.00 $0.00 ($0.68) $0.00 $0.00 $0.00 ($0.44) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
44.69M 52.77M 52.85M 53.65M 53.88M 54.71M 55.02M 56.33M 60.08M 62.95M 63.04M
Normalized Net Operating Profit after Tax (NOPAT)
-25 -26 -26 -26 -27 -24 -21 -24 -33 -20 -25
Normalized NOPAT Margin
-3,067.56% -1,600.96% -1,240.66% -1,301.65% -1,178.36% -888.99% -632.20% -443.59% -925.98% - -392.77%
Pre Tax Income Margin
-4,103.46% -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%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -29.28
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -20.79
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -31.16
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -22.67
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% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Aeva Technologies (NASDAQ: AEVA) showed a sharp recovery in revenue in early 2026, but the business remains deeply unprofitable and highly dependent on its balance sheet strength and investment portfolio. Over the last several years, the company has made meaningful top-line progress, yet operating losses have remained substantial and cash generation from operations remains negative.

Revenue trend: AEVA’s quarterly revenue has generally improved over time. Revenue rose from just $1.1 million in Q1 2023 to $6.3 million in Q1 2026, with several quarters in between showing steady growth, including $3.6 million in Q3 2025 and $5.6 million in Q4 2025. That said, the growth has been uneven, and the company is still operating at a very small revenue base relative to its spending.

Profitability trend: Losses remain the central issue. In Q1 2026, AEVA posted an operating loss of $35.1 million and a net loss of $35.0 million, or $0.56 per share. While that is better than the huge net loss reported in Q2 2025, when other income distortions pushed the quarter to a $192.7 million net loss, core operating profitability is still not close to breakeven. Operating losses have stayed in the $30 million to $40 million range for most quarters reviewed.

Cost structure: Operating expenses remain elevated, especially research and development. In Q1 2026, AEVA spent $22.8 million on R&D, $12.4 million on SG&A, and $1.9 million on marketing, compared with only $1.9 million of gross profit. This means the company is still investing heavily while gross margins are not yet sufficient to cover overhead.

Cash flow: AEVA continues to burn cash in operations. Operating cash flow was negative $25.8 million in Q1 2026, following negative $22.1 million in Q4 2025 and negative $32.3 million in Q3 2025. Even though investing activity sometimes generated cash from maturities and sales of investments, the core business is still consuming cash.

Liquidity and balance sheet: The company ended Q1 2026 with $31.2 million in cash and equivalents and $68.3 million in short-term investments, giving it about $99.5 million in near-term liquid resources. That is a meaningful cushion, but it is down sharply from the much larger investment base seen in 2023 and early 2024. Total assets were $147.3 million, while total liabilities were $159.7 million, leaving AEVA with negative common equity of $12.4 million.

Debt load: Long-term debt was $96.8 million at the end of Q1 2026. Combined with negative equity, this suggests a highly leveraged capital structure and a company that still depends on external capital and investment income to support operations.

  • Revenue has trended higher over the last year, with Q1 2026 revenue of $6.3 million above the prior year’s quarterly levels.
  • Gross profit improved to $1.9 million in Q1 2026 from $1.3 million in Q4 2025.
  • AEVA still has a sizable liquidity cushion, with nearly $100 million combined in cash and short-term investments.
  • The company generated $5.5 million from common equity issuance in Q1 2026, which helped offset cash burn.
  • Investments and maturities continue to be an important source of cash, which can soften operating losses in the short term.
  • Quarterly results have been volatile, including a large Q3 2025 one-time other income gain that distorted profitability.
  • Operating losses remain very large relative to revenue, indicating the business is far from scale efficiency.
  • Operating cash flow has been consistently negative, showing the core business is still burning cash.
  • Total liabilities now exceed total assets, and common equity is negative.
  • Long-term debt of $96.8 million adds financial risk if cash burn persists.

Bottom line: AEVA is showing better revenue momentum, but the financial statements still point to a speculative turnaround story rather than a fundamentally profitable business. Investors should focus on whether revenue growth continues to accelerate, gross margins improve, and operating losses narrow enough to reduce the company’s dependence on cash reserves and financing.

06/30/26 12:45 PM 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 an upward trend, with a most recent value of -$145.43 million in 2025, rising from -$19.59 million in 2019. The previous period was -$152.26 million in 2024.

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%.

Aeva Technologies' total liabilities were at $166.49 million at the end of 2025, a 245.9% increase from 2024, and a 203,408.2% increase since 2019.

In the past 6 years, Aeva Technologies' cash and equivalents has ranged from $0.00 in 2019 to $72.29 million in 2025, and is currently $72.29 million as of their latest financial filing in 2025.

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:AEVAW last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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