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Jun 30, 2022
Eve Q2 2022 Earnings Report
Eve reported a net loss due to increased R&D and SG&A expenses.
Key Takeaways
Eve reported a net loss of $11.8 million in Q2 2022, which was primarily driven by higher Research & Development (R&D) expenses and Selling, General & Administrative (SG&A) costs. The company's cash position significantly increased due to capital raised from PIPE and de-SPAC transactions.
Net loss was $11.8 million, driven by higher R&D and SG&A expenses.
R&D expenses increased to $9.8 million due to the master service agreement with Embraer.
SG&A costs increased due to growth in the number of collaborators at Eve.
Cash position significantly increased to $330.8 million due to capital raise.
Forward Guidance
Eve anticipates transitioning non-binding orders into firm contracts and is monitoring capital markets for debt financing options. The company expects to make the first aircraft deliveries in 2026 for commercial use.
Positive Outlook
- Potential advances from customers
- Future finance lines
- Incremental capex lines via corporate loans
- Transitioning part of non-binding orders into firm contracts
- Significant cash advances and inflow through down payments
Challenges Ahead
- Uncertainty of projected financial information.
- Risks related to failure to realize anticipated benefits of business combination.
- Potential litigation, government and regulatory proceedings, investigations and inquiries.
- Impact of global COVID-19 pandemic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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