Revenue growth reached 85.9% in 2026Q1, though profitability remains elusive as R&D expenditures consistently exceed $20 million per quarter.
| Sales/Revenue | 20.97M | 18.08M | 9.06M | 4.31M | 4.19M | 9.27M | 4.84M | 1.38M | 135K |
| Revenue Growth % | 103.11% | 99.44% | 110.23% | 2.86% | -54.75% | 91.31% | 249.93% | 925.19% | - |
| Cost of Goods Sold | 20M | 18.74M | 12.86M | 10.2M | 8.45M | 5.83M | 2.74M | 815K | 57K |
| COGS % of Revenue | - | 103.65% | 141.81% | 236.5% | 201.5% | 62.96% | 56.6% | 58.89% | 42.22% |
| Gross Profit | 971K | -660K | -3.79M | -5.89M | -4.25M | 3.43M | 2.1M | 569K | 78K |
| Gross Margin % | 4.63% | -3.65% | -41.81% | -136.5% | -101.5% | 37.04% | 43.4% | 41.11% | 57.78% |
| Gross Profit Growth % | - | 82.59% | 35.61% | -38.33% | -223.98% | 63.27% | 269.42% | 629.49% | - |
| Operating Expenses | 133.29M | 126.94M | 154.58M | 141.9M | 147.7M | 107.62M | 27.84M | 20.66M | 11.48M |
| OpEx % of Revenue | - | 702.12% | 1705.26% | 3290.86% | 3523.38% | 1161.55% | 574.91% | 1492.92% | 8503.7% |
| Selling, General & Admin | 46.6M | 41.51M | 40.41M | 39.4M | 38.11M | 32.85M | 7.35M | 5.26M | 3.08M |
| SG&A % of Revenue | - | 229.62% | 445.84% | 913.71% | 909.18% | 354.56% | 151.68% | 379.77% | 2282.22% |
| Research & Development | 86.68M | 85.42M | 102.67M | 102.5M | 109.59M | 74.77M | 20.5M | 15.41M | 8.4M |
| R&D % of Revenue | - | 472.5% | 1132.56% | 2377.16% | 2614.19% | 806.99% | 423.23% | 1113.15% | 6221.48% |
| Other Operating Expenses | 0 | 0 | 11.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -132.31M | -127.6M | -158.37M | -147.79M | -151.96M | -104.19M | -25.74M | -20.09M | -11.4M |
| Operating Margin % | -630.88% | -705.77% | -1747.07% | -3427.37% | -3624.88% | -1124.51% | -531.51% | -1451.81% | -8445.93% |
| Operating Income Growth % | - | 19.43% | -7.16% | 2.74% | -45.85% | -304.75% | -28.11% | -76.22% | - |
| EBITDA | -121.57M | -119.11M | -149.43M | -140.08M | -145.81M | -101.08M | -24.94M | -19.46M | -10.93M |
| EBITDA Margin % | -579.64% | -658.83% | -1648.42% | -3248.61% | -3478.24% | -1091.04% | -515.03% | -1406% | -8093.33% |
| EBITDA Growth % | 14.63% | 20.29% | -6.67% | 3.93% | -44.24% | -305.26% | -28.18% | -78.1% | - |
| D&A (Non-Cash Add-back) | 10.75M | 8.49M | 8.94M | 7.71M | 6.15M | 3.1M | 798K | 634K | 476K |
| EBIT | 12.3M | -145.12M | -146.87M | -147.79M | -151.96M | -104.19M | -25.74M | -20.09M | -11.4M |
| Net Interest Income | 1.43M | 2.74M | 7.71M | 8.93M | 3.71M | 372K | 195K | 516K | 0 |
| Interest Income | 2.61M | 2.74M | 7.71M | 8.93M | 3.71M | 372K | 195K | 516K | 234K |
| Interest Expense | 1.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -12.94M | -17.52M | 6.28M | -1.54M | 4.65M | 2.31M | 171K | 499K | 234K |
| Pretax Income | -145.26M | -145.12M | -152.09M | -149.33M | -147.31M | -101.88M | -25.57M | -19.59M | -11.17M |
| Pretax Margin % | -692.59% | -802.7% | -1677.77% | -3463.2% | -3513.96% | -1099.6% | -527.98% | -1415.75% | -8272.59% |
| Income Tax | 283K | 308K | 171K | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.19% | -0.21% | -0.11% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -145.54M | -145.43M | -152.26M | -149.33M | -147.31M | -101.51M | -25.57M | -19.59M | -11.17M |
| Net Margin % | -693.94% | -804.4% | -1679.66% | -3463.2% | -3513.96% | -1095.59% | -527.98% | -1415.75% | -8272.59% |
| Net Income Growth % | 4.13% | 4.49% | -1.96% | -1.38% | -45.12% | -296.97% | -30.5% | -75.45% | - |
| Net Income (Continuing) | -145.54M | -145.43M | -152.26M | -149.33M | -147.31M | -101.88M | -25.57M | -19.59M | -11.17M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.32 | -2.55 | -2.85 | -3.29 | -3.39 | -2.54 | -0.60 | -0.45 | -0.26 |
| EPS Growth % | 12.72% | 10.53% | 13.37% | 2.95% | -33.46% | -323.33% | -33.33% | -73.08% | - |
| EPS (Basic) | - | -2.55 | -2.85 | -3.29 | -3.39 | -2.53 | -0.60 | -0.45 | -0.26 |
| Diluted Shares Outstanding | 62.81M | 57.02M | 53.36M | 45.41M | 43.46M | 40.17M | 42.28M | 42.28M | 42.28M |
| Basic Shares Outstanding | 62.81M | 57.02M | 53.36M | 45.41M | 43.46M | 40.17M | 42.28M | 42.28M | 42.28M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
High Cash Burn Rate
According to recent financial disclosures, Aeva achieved a notable 85.9% revenue growth in 2026Q1, reflecting a consistent upward trajectory in project-based billings, though the reliance on non-recurring engineering fees suggests that top-line durability remains contingent on the successful conversion of development contracts into high-volume automotive production orders.
The acceleration in revenue growth appears to be driven by milestone-based payments rather than recurring hardware sales, which introduces significant volatility into quarterly results. Investors should monitor whether this growth can transition toward a more predictable volume-based model as the company moves closer to its projected start of production dates.
As reported in quarterly filings, Aeva's gross margin profile has fluctuated significantly, reaching 31.0% in 2026Q1 after periods of negative margins, which suggests that the company is still navigating the high costs of initial silicon photonics manufacturing and the inherent inefficiencies of pre-scale production environments.
The recent improvement in gross margins may indicate better absorption of fixed manufacturing costs or a shift in the mix of high-margin engineering services. However, the historical volatility warrants caution, as the company has yet to demonstrate a sustained ability to maintain positive margins while scaling its hardware delivery capabilities.
Based on the provided income statement data, Aeva continues to prioritize heavy R&D investment, with quarterly expenditures consistently exceeding $20 million, a strategy that underscores the firm's commitment to its proprietary FMCW technology but simultaneously keeps operating margins deeply negative throughout the observed ten-quarter period.
The persistent R&D spend reflects the high barrier to entry for silicon photonics, yet it creates a structural drag on the income statement that is unlikely to abate until commercial volumes reach a critical mass. Management's expense discipline appears focused on technical validation, which may be necessary for long-term competitiveness but leaves little room for near-term operating leverage.
Analysis of the company's financial statements reveals that stock-based compensation remains a significant component of operating expenses, often exceeding $5 million per quarter, which suggests that reported net losses may not fully capture the underlying cash burn required to sustain the firm's current R&D-heavy operational model.
The reliance on equity-based incentives to manage cash outflows is a common practice in the semiconductor sector, yet it effectively dilutes existing shareholders while masking the true economic cost of talent retention. Investors should evaluate the impact of this compensation on the company's long-term capital structure and potential for future equity dilution.
Quick answers to the most common questions about buying AEVAW stock.
For fiscal year 2025, Aeva Technologies, Inc. (AEVAW) reported total revenue of $18.1M. This represents a 13291.9% increase compared to $0.1M in 2018.
Aeva Technologies, Inc. (AEVAW) reported a net loss of $145.4M for the fiscal year ending 2025.
Aeva Technologies, Inc. (AEVAW) reported an operating income of $-127.6M, resulting in an operating profit margin of -705.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Aeva Technologies, Inc. (AEVAW) generated $-0.7M in gross profit for the year, representing a gross profit margin of -3.7%. This demonstrates the company's core pricing power and production efficiency.