Aeva Technologies (AEVA) investor relations material

Executive summary

• Launched Optical Connectivity business, signing a major hyperscaler for next-gen AI data center deployment, with initial deployment targeted for the second half of 2027 and production ramp in 2028.

• Expanded automotive presence with Bendix for next-gen ADAS on Class 8 trucks and advanced programs with Daimler Truck, a top-10 European OEM, and NVIDIA.

• Achieved first industrial commercialization with SICK, launching an Aeva-powered sensor and receiving Supplier of the Year Award.

• Strengthened balance sheet with a $115M follow-on equity offering, ending Q2 with $302.9M in liquidity.

• Q2 2026 revenue was $6.1M, up 11% year-over-year, driven by strong professional services despite lower product revenue.

Financial highlights

• Q2 2026 revenue reached $6.1M, with gross profit improving to $2.2M from a loss of $2.7M in Q2 2025.

• Non-GAAP operating loss was $26M, while GAAP operating loss was $34.6M for Q2 2026.

• Gross cash use in Q2 was $31.4M; capital expenditures were $0.2M.

• Available liquidity totaled $302.9M, including $177.9M in cash and equivalents and a $125M undrawn facility.

• Net loss for Q2 2026 was $79.6M, improved from $192.7M in Q2 2025.

Outlook and guidance

• Optical connectivity business expected to ramp in late 2027, with production scaling in 2028 and anticipated annual volumes of multiple millions of units and revenues in the hundreds of millions of dollars.

• Revenue growth is anticipated as customer programs move from development to production, but timing and volume remain uncertain.

• Existing liquidity, including a $125M standby equity facility, is expected to fund operations for at least 12 months.