Aeva Technologies (AEVA) investor relations material

Executive summary

• Achieved a transformational year with record revenue, doubling sales in 2025 and expanding into automotive, industrial automation, robotics, and defense markets.

• Secured exclusive global production program awards with a top European passenger OEM, with SOP in 2028 and exclusivity outside China through the mid-2030s.

• Selected by NVIDIA as the reference LiDAR sensor for the DRIVE Hyperion platform, enhancing industry validation and future OEM opportunities.

• Formed a strategic partnership with LG Innotek, including up to $50 million investment and joint product development for physical AI and robotics applications.

• Achieved first major defense sector win with Forterra, with shipments already contributing to product sales.

Financial highlights

• Full year 2025 revenue reached $18.1 million, doubling from 2024, with Q4 revenue at $5.6 million.

• Non-GAAP operating loss for 2025 was $102 million, improved by 17% year-over-year, with Q4 non-GAAP operating loss at $23.8 million.

• Gross cash use for 2025 was $119.7 million; capital expenditures totaled $4.6 million.

• Total available liquidity at year-end was $246.9 million, including $121.9 million in cash and a fully undrawn $125 million facility.

• Gross profit for full year 2025 was $660,000, compared to a loss of $3.8 million in 2024.

Outlook and guidance

• 2026 revenue guidance is $30–36 million, representing 70–100% year-over-year growth.

• Targeting at least four new commercial wins in 2026, split between automotive and non-automotive sectors.

• Non-GAAP operating expenses expected to remain flat or increase up to 10% in 2026.

• Plans to achieve a 5X increase in industrial sensor shipments and release the Omni sensor.

• Focus on scaling manufacturing, increasing supply chain capacity, and maintaining financial discipline.