Aeva Technologies, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 6, 2026, reporting third-quarter and nine-month financial results for the period.

Key Highlights

  • Total revenue nearly doubled year over year: Aeva reported total revenues of $6,669 thousand for Q3 2026, up from $3,579 thousand in Q3 2025, according to the filing.
  • Gross profit turned positive for the nine-month period: The company reported gross profit of $6,371 thousand for the nine months ended September 30, 2026, compared to a gross loss of $1,980 thousand in the same period of 2025.
  • Q3 net income recorded: The filing shows net income of $4,447 thousand for Q3 2026, driven in part by a $43,290 thousand change in fair value of warrant liabilities, versus net income of $107,495 thousand in Q3 2025.
  • Nine-month net loss of $110,156 thousand: For the nine months ended September 30, 2026, the company reported a net loss of $110,156 thousand, compared to a net loss of $120,114 thousand in the same period of 2025.
  • Total assets grew to $202,730 thousand: As of September 30, 2026, total assets were $202,730 thousand, up from $179,701 thousand at December 31, 2025.
  • Share count increased: As of October 30, 2026, the registrant had 69,896,274 shares of common stock outstanding, up from 61,580 thousand shares at December 31, 2025.
  • Convertible notes on balance sheet: The filing reports convertible notes of $97,001 thousand as of September 30, 2026, compared to $96,693 thousand at December 31, 2025.

Aeva's Q3 2026 Financial Results: Revenue Growth and Warrant Fair Value Swing

Aeva Technologies, Inc. (NASDAQ:AEVA) disclosed its unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2026. According to the filing, total revenues for Q3 2026 reached $6,669 thousand, comprised of $3,503 thousand in product revenue and $3,166 thousand in professional service revenue, compared to $3,579 thousand in Q3 2025. For the nine-month period, total revenues were $19,067 thousand versus $12,458 thousand in the prior-year period.

The company reported operating losses of $39,113 thousand in Q3 2026 and $108,809 thousand for the nine months ended September 30, 2026. Research and development expenses were the largest operating cost component, totaling $28,867 thousand for Q3 2026 and $76,582 thousand for the nine-month period, the filing stated. The Q3 2026 net income of $4,447 thousand was substantially influenced by a non-cash change in fair value of warrant liabilities of $43,290 thousand, which the company disclosed as a line item in its income statement. Warrant liabilities stood at $30,671 thousand on the balance sheet as of September 30, 2026.

The filing shows total stockholders' equity improved to $43,258 thousand at September 30, 2026, from $13,215 thousand at December 31, 2025, with additional paid-in capital rising to $910,938 thousand from $770,502 thousand. The accumulated deficit grew to $867,445 thousand from $757,289 thousand over the same period. Cash and cash equivalents declined to $20,130 thousand from $72,291 thousand at year-end 2025, while marketable securities increased to $127,372 thousand from $49,608 thousand.

What Was Disclosed

Aeva Technologies filed its quarterly report covering the period ended September 30, 2026, disclosing revenue growth, an operating loss of $108,809 thousand for the nine-month period, a Q3 net income driven by warrant fair value changes, and balance sheet details including convertible notes and an accumulated deficit of $867,445 thousand.