Key Highlights

  • Revenue of USD 6.67 million compares with an estimate of USD 6.58 million and USD 3.58 million a year earlier.
  • Non-GAAP net loss per share was USD 0.39 against an estimate of a USD 0.43 loss, and USD 0.46 before.
  • GAAP operating loss was USD 39.1 million against USD 33.2 million, and non-GAAP operating loss was USD 27.7 million.
  • Total available Liquidity was USD 272.5 million: USD 147.5 million in cash and securities plus a USD 125.0 million facility.

Aeva Technologies, Inc. (NASDAQ:AEVA) reported third quarter 2026 Revenue of USD 6.67 million, against an estimate of USD 6.58 million and USD 3.58 million in the same quarter of 2025. Non-GAAP basic and diluted net loss per share was USD 0.39, against an estimate of a USD 0.43 loss. Chief executive Soroush Salehian described the revenue as a record, driven by record Volume of 4D LiDAR and optical solutions.

Revenue

Product revenue was USD 3.50 million against USD 1.70 million a year earlier, and professional service revenue was USD 3.17 million against USD 1.88 million. For nine months, total revenue was USD 19.07 million against USD 12.46 million.

The quarter included first revenues in Optical Connectivity, with deliveries of ultra-high power (UHP) chipsets to a customer in a joint development arrangement for integration and validation. The company said shipments of production-intent Atlas sensors to Daimler Truck are growing, that it passed a VDA audit for a top 10 European passenger vehicle maker, and that it completed an ADAS development program with Bendix.

Profit and Margins

Gross profit was USD 2.24 million against USD 0.43 million. Research and Development expense was USD 28.87 million against USD 22.16 million, general and administrative expense was USD 10.85 million against USD 9.62 million, and selling and Marketing expense was USD 1.63 million against USD 1.80 million.

GAAP operating loss was USD 39.1 million against USD 33.2 million, and non-GAAP operating loss was USD 27.7 million against USD 27.2 million. The GAAP result includes a USD 43.29 million gain from the change in Fair Value of Warrant liabilities, against a USD 68.52 million gain a year earlier. That produced Net Income of USD 4.45 million, against USD 107.50 million in the prior-year quarter. GAAP basic net income per share was USD 0.06 and diluted net loss per share was USD 0.54, against USD 1.86 and a USD 0.52 loss. Weighted basic shares were 69.6 million and diluted shares 71.8 million.

Cash and Balance Sheet

Cash and cash equivalents were USD 20.13 million and marketable securities were USD 127.37 million at September 30. Total available liquidity of USD 272.5 million also includes USD 125.0 million in an available facility. Convertible notes were carried at USD 97.0 million, and warrant liabilities at USD 30.67 million.

For the nine months, the net loss was USD 110.16 million, or USD 1.68 per share, against USD 120.11 million, or USD 2.15 per share. Total stockholders' Equity was USD 43.26 million against USD 13.22 million at December 31, 2025. Interest expense was USD 1.20 million in the quarter, with no interest expense a year earlier.

Benchmarks Ahead

Revenue of USD 6.67 million sits alongside a GAAP operating loss of USD 39.1 million, a non-GAAP loss of USD 0.39 per share and total available liquidity of USD 272.5 million.

Management named its next steps in plain terms: executing for customers, securing additional wins and scaling Manufacturing to meet demand. In Optical Connectivity it is deepening collaboration with the joint development customer to pursue additional hyperscalers and is in commercial negotiations with a second optical customer. Outside that business, the US Air Force and US Navy selected the company for joint development of airborne autonomy applications using 4D LiDAR, and Micro-Epsilon placed a first multi-thousand sensor order under a multi-year Supply agreement. The company gave no numerical guidance.