What is Aeva Technologies Inc's earnings per share (EPS)?

Aeva Technologies Inc (AEVA) reported diluted earnings per share of $-2.55 for fiscal year 2025. This represents a 10.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Aeva Technologies Inc Financials

AEVA

Source SEC Filings (10-K/10-Q) Updated Mar 19, 2026 Currency USD FYE March

This page shows Aeva Technologies Inc (AEVA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 31/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Aeva Technologies Inc has an operating margin of -705.8%, meaning the company retains $-706 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1747.1% the prior year.

Growth

100

Aeva Technologies Inc's revenue surged 99.4% year-over-year to $18.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Aeva Technologies Inc has elevated debt relative to equity (D/E of 12.60), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

With a current ratio of 4.28, Aeva Technologies Inc holds $4.28 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 85/100.

Cash Flow

While Aeva Technologies Inc generated -$115.1M in operating cash flow, capex of $4.6M consumed most of it, leaving -$119.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Aeva Technologies Inc generates a -1100.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -153.3% the prior year.

Piotroski F-Score Neutral

5/9

Aeva Technologies Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.79x

For every $1 of reported earnings, Aeva Technologies Inc generates $0.79 in operating cash flow (-$115.1M OCF vs -$145.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$18.1M

YoY+99.4%

5Y CAGR+30.1%

Aeva Technologies Inc generated $18.1M in revenue in fiscal year 2025. This represents an increase of 99.4% from the prior year.

EBITDA

-$122.2M

YoY+20.1%

Aeva Technologies Inc's EBITDA was -$122.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.1% from the prior year.

Net Income

-$145.4M

YoY+4.5%

Aeva Technologies Inc reported -$145.4M in net income in fiscal year 2025. This represents an increase of 4.5% from the prior year.

EPS (Diluted)

$-2.55

YoY+10.5%

Aeva Technologies Inc earned $-2.55 per diluted share (EPS) in fiscal year 2025. This represents an increase of 10.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$119.7M

YoY-6.8%

Aeva Technologies Inc generated -$119.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 6.8% from the prior year.

Cash & Debt

$72.3M

YoY+150.5%

5Y CAGR+24.0%

Aeva Technologies Inc held $72.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

63M

YoY+16.3%

Aeva Technologies Inc had 63M shares outstanding in fiscal year 2025. This represents an increase of 16.3% from the prior year.

Margins & Returns

Gross Margin

-3.6%

YoY+38.2pp

5Y CAGR-47.0pp

Aeva Technologies Inc's gross margin was -3.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 38.2 percentage points from the prior year.

Operating Margin

-705.8%

YoY+1041.3pp

5Y CAGR-174.3pp

Aeva Technologies Inc's operating margin was -705.8% in fiscal year 2025, reflecting core business profitability. This is up 1041.3 percentage points from the prior year.

Net Margin

-804.4%

YoY+875.3pp

5Y CAGR-276.4pp

Aeva Technologies Inc's net profit margin was -804.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 875.3 percentage points from the prior year.

Return on Equity

-1100.5%

YoY-947.2pp

5Y CAGR-1005.5pp

Aeva Technologies Inc's ROE was -1100.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 947.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$85.4M

YoY-16.8%

5Y CAGR+33.0%

Aeva Technologies Inc invested $85.4M in research and development in fiscal year 2025. This represents a decrease of 16.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$4.6M

YoY-9.8%

5Y CAGR+40.1%

Aeva Technologies Inc invested $4.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 9.8% from the prior year.

AEVA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$18.1M+99.4%	$9.1M+110.2%	$4.3M+2.9%	$4.2M-54.8%	$9.3M+91.3%	$4.8M
Cost of Revenue	$18.7M+45.8%	$12.9M+26.1%	$10.2M+20.7%	$8.4M+44.8%	$5.8M+112.8%	$2.7M
Gross Profit	-$660K+82.6%	-$3.8M+35.6%	-$5.9M-38.3%	-$4.3M-224.0%	$3.4M+63.3%	$2.1M
R&D Expenses	$85.4M-16.8%	$102.7M+0.2%	$102.5M-6.5%	$109.6M+46.6%	$74.8M+264.8%	$20.5M
SG&A Expenses	$34.8M+4.7%	$33.3M+4.7%	$31.8M+2.2%	$31.1M+9.4%	$28.4M+401.5%	$5.7M
Operating Income	-$127.6M+19.4%	-$158.4M-7.2%	-$147.8M+2.7%	-$152.0M-45.8%	-$104.2M-304.7%	-$25.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$308K+80.1%	$171K	$0	$0	$0	$0
Net Income	-$145.4M+4.5%	-$152.3M-2.0%	-$149.3M-1.4%	-$147.3M-44.6%	-$101.9M-298.4%	-$25.6M
EPS (Diluted)	$-2.55+10.5%	$-2.85+13.4%	$-3.29	$-3.39-564.7%	$-0.51-183.3%	$-0.18

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$3.6M-35.1%	$5.5M+63.6%	$3.4M+24.9%	$2.7M+19.8%	$2.3M+11.8%	$2.0M-4.5%	$2.1M+30.8%	$1.6M
Cost of Revenue	$3.1M-61.7%	$8.2M+169.2%	$3.1M-13.2%	$3.5M+18.6%	$3.0M+3.9%	$2.9M-18.3%	$3.5M+40.9%	$2.5M
Gross Profit	$430K+115.8%	-$2.7M-977.4%	$310K+137.4%	-$829K-15.0%	-$721K+15.0%	-$848K+39.1%	-$1.4M-59.6%	-$872K
R&D Expenses	$22.2M-3.0%	$22.8M+5.9%	$21.6M-11.4%	$24.3M-10.2%	$27.1M+3.5%	$26.2M+4.7%	$25.0M-4.5%	$26.2M
SG&A Expenses	$9.6M+20.8%	$8.0M+10.4%	$7.2M-6.6%	$7.7M-8.6%	$8.5M-2.4%	$8.7M+3.0%	$8.4M+8.7%	$7.7M
Operating Income	-$33.2M+5.0%	-$34.9M-14.8%	-$30.4M+11.2%	-$34.2M+9.6%	-$37.9M+22.6%	-$48.9M-31.0%	-$37.3M-1.4%	-$36.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$66K-5.7%	$70K+22.8%	$57K+119.2%	$26K+18.2%	$22K-82.1%	$123K	$0	$0
Net Income	$107.5M+155.8%	-$192.7M-452.8%	-$34.9M+3.5%	-$36.1M+3.3%	-$37.4M+13.8%	-$43.4M-22.8%	-$35.3M+21.4%	-$45.0M
EPS (Diluted)	$-0.52+85.1%	$-3.49-445.3%	$-0.64	N/A	$-0.70+14.6%	$-0.82	$-0.67	N/A

AEVA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$179.7M+21.8%	$147.5M-42.7%	$257.4M-27.8%	$356.6M-25.6%	$479.2M+1368.5%	$32.6M
Current Assets	$153.5M+24.5%	$123.3M-46.2%	$229.2M-31.6%	$335.1M-26.9%	$458.5M+1381.2%	$31.0M
Cash & Equivalents	$72.3M+150.5%	$28.9M-25.1%	$38.5M-42.8%	$67.4M+0.9%	$66.8M+171.3%	$24.6M
Inventory	$5.8M+146.8%	$2.3M-1.2%	$2.4M-19.6%	$3.0M+43.0%	$2.1M+69.2%	$1.2M
Accounts Receivable	$3.4M+183.3%	$1.2M+89.0%	$628K-78.2%	$2.9M+23.3%	$2.3M+1560.3%	$141K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$166.5M+245.9%	$48.1M+66.3%	$28.9M+8.4%	$26.7M+17.1%	$22.8M+298.9%	$5.7M
Current Liabilities	$35.9M-8.4%	$39.2M+112.8%	$18.4M-15.7%	$21.8M+52.7%	$14.3M+152.0%	$5.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$13.2M-86.7%	$99.4M-56.5%	$228.4M-30.8%	$329.9M-27.7%	$456.4M+1595.7%	$26.9M
Retained Earnings	-$757.3M-23.8%	-$611.9M-33.1%	-$459.6M-48.1%	-$310.3M-90.4%	-$163.0M-166.8%	-$61.1M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$92.8M+1.8%	$91.1M-20.4%	$114.5M-22.3%	$147.5M-12.8%	$169.1M-14.6%	$198.1M-11.9%	$224.8M-12.7%	$257.4M
Current Assets	$66.4M-2.8%	$68.3M-25.6%	$91.8M-25.6%	$123.3M-15.1%	$145.3M-15.7%	$172.4M-12.7%	$197.4M-13.9%	$229.2M
Cash & Equivalents	$45.7M+110.1%	$21.7M+2.5%	$21.2M-26.5%	$28.9M-5.2%	$30.5M+29.0%	$23.6M-20.2%	$29.6M-23.2%	$38.5M
Inventory	$4.9M+35.3%	$3.7M-5.7%	$3.9M+65.5%	$2.3M+10.4%	$2.1M-29.1%	$3.0M+38.7%	$2.2M-8.9%	$2.4M
Accounts Receivable	$1.9M-50.1%	$3.9M+402.7%	$775K-34.7%	$1.2M+106.4%	$575K-31.9%	$844K-13.7%	$978K+55.7%	$628K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$59.6M-71.5%	$209.3M+357.7%	$45.7M-5.0%	$48.1M+20.7%	$39.9M+4.5%	$38.1M+43.4%	$26.6M-8.1%	$28.9M
Current Liabilities	$20.9M-80.3%	$105.7M+231.4%	$31.9M-18.5%	$39.2M+16.5%	$33.6M+3.0%	$32.6M+96.7%	$16.6M-9.8%	$18.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$33.2M+128.1%	-$118.2M-271.7%	$68.8M-30.7%	$99.4M-23.1%	$129.3M-19.2%	$160.0M-19.3%	$198.2M-13.2%	$228.4M
Retained Earnings	-$732.0M+12.8%	-$839.5M-29.8%	-$646.7M-5.7%	-$611.9M-6.3%	-$575.7M-6.9%	-$538.3M-8.8%	-$494.9M-7.7%	-$459.6M

AEVA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$115.1M-7.6%	-$106.9M+10.0%	-$118.8M-8.1%	-$109.9M-33.9%	-$82.1M-286.7%	-$21.2M
Capital Expenditures	$4.6M-9.8%	$5.1M-16.3%	$6.1M-17.9%	$7.4M+93.2%	$3.9M+350.3%	$855K
Free Cash Flow	-$119.7M-6.8%	-$112.0M+10.3%	-$124.9M-6.5%	-$117.3M-36.5%	-$86.0M-289.2%	-$22.1M
Investing Cash Flow	$29.9M-69.4%	$97.9M+41.3%	$69.3M-37.5%	$110.9M+128.5%	-$388.6M-45347.0%	-$855K
Financing Cash Flow	$128.6M+19262.1%	-$671K-103.2%	$20.7M+5703.3%	-$369K-100.1%	$512.9M+702452.1%	$73K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$32.3M-8.3%	-$29.8M+3.1%	-$30.8M-47.3%	-$20.9M+19.3%	-$25.9M+11.2%	-$29.2M+5.8%	-$31.0M-13.3%	-$27.3M
Capital Expenditures	$1.3M-6.7%	$1.4M+197.6%	$459K-78.5%	$2.1M+294.5%	$542K-30.4%	$779K-52.7%	$1.6M-38.5%	$2.7M
Free Cash Flow	-$33.6M-7.7%	-$31.2M+0.2%	-$31.3M-35.7%	-$23.0M+12.8%	-$26.4M+11.7%	-$29.9M+8.2%	-$32.6M-8.6%	-$30.0M
Investing Cash Flow	$23.7M-22.5%	$30.6M+31.3%	$23.3M+18.9%	$19.6M-40.3%	$32.9M+40.4%	$23.4M+6.2%	$22.0M+364.4%	$4.7M
Financing Cash Flow	$32.5M+11836.5%	-$277K-51.4%	-$183K+41.0%	-$310K-154.1%	-$122K+45.3%	-$223K-1293.8%	-$16K-100.1%	$20.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AEVA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-3.6%+38.2pp	-41.8%+94.7pp	-136.5%-35.0pp	-101.5%-138.5pp	37.0%-6.4pp	43.4%
Operating Margin	-705.8%+1041.3pp	-1747.1%+1680.3pp	-3427.4%+197.5pp	-3624.9%-2500.4pp	-1124.5%-593.0pp	-531.5%
Net Margin	-804.4%+875.3pp	-1679.7%+1783.5pp	-3463.2%+50.8pp	-3514.0%-2414.4pp	-1099.6%-571.6pp	-528.0%
Return on Equity	-1100.5%-947.2pp	-153.3%-87.9pp	-65.4%-20.7pp	-44.6%-22.3pp	-22.3%+72.7pp	-95.0%
Return on Assets	-80.9%+22.3pp	-103.2%-45.2pp	-58.0%-16.7pp	-41.3%-20.0pp	-21.3%+57.1pp	-78.4%
Current Ratio	4.28+1.1	3.15-9.3	12.46-2.9	15.35-16.7	32.07+26.6	5.46
Debt-to-Equity	12.60+12.1	0.48+0.4	0.13+0.0	0.08+0.0	0.05-0.2	0.21
FCF Margin	-662.0%+573.7pp	-1235.7%+1661.5pp	-2897.3%-97.9pp	-2799.4%-1871.6pp	-927.7%-471.7pp	-456.0%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	12.0%+61.4pp	-49.4%-58.6pp	9.2%+39.9pp	-30.8%+1.3pp	-32.0%+10.1pp	-42.1%+23.9pp	-66.1%-11.9pp	-54.1%
Operating Margin	-926.5%-292.8pp	-633.7%+269.4pp	-903.1%+366.8pp	-1270.0%+413.4pp	-1683.4%+747.7pp	-2431.1%-658.7pp	-1772.4%+514.7pp	-2287.1%
Net Margin	3003.5%+6500.9pp	-3497.4%-2462.2pp	-1035.2%+305.5pp	-1340.7%+321.3pp	-1662.0%+494.7pp	-2156.7%-480.1pp	-1676.6%+1114.6pp	-2791.2%
Return on Equity	323.6%	N/A	-50.7%-14.3pp	-36.4%-7.5pp	-28.9%-1.8pp	-27.1%-9.3pp	-17.8%+1.9pp	-19.7%
Return on Assets	115.8%+327.3pp	-211.5%-181.0pp	-30.4%-5.9pp	-24.5%-2.4pp	-22.1%-0.2pp	-21.9%-6.2pp	-15.7%+1.8pp	-17.5%
Current Ratio	3.18+2.5	0.65-2.2	2.88-0.3	3.15-1.2	4.32-1.0	5.28-6.6	11.89-0.6	12.46
Debt-to-Equity	1.79+3.6	-1.77-2.4	0.66+0.2	0.48+0.2	0.31+0.1	0.24+0.1	0.130.0	0.13
FCF Margin	-938.4%-372.5pp	-566.0%+361.9pp	-927.9%-73.4pp	-854.4%+320.2pp	-1174.7%+313.6pp	-1488.3%+59.4pp	-1547.7%+315.4pp	-1863.1%

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Frequently Asked Questions

What is Aeva Technologies Inc's annual revenue?

Aeva Technologies Inc (AEVA) reported $18.1M in total revenue for fiscal year 2025. This represents a 99.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Aeva Technologies Inc's revenue growing?

Aeva Technologies Inc (AEVA) revenue grew by 99.4% year-over-year, from $9.1M to $18.1M in fiscal year 2025.

Is Aeva Technologies Inc profitable?

No, Aeva Technologies Inc (AEVA) reported a net income of -$145.4M in fiscal year 2025, with a net profit margin of -804.4%.

What is Aeva Technologies Inc's EBITDA?

Aeva Technologies Inc (AEVA) had EBITDA of -$122.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Aeva Technologies Inc's gross margin?

Aeva Technologies Inc (AEVA) had a gross margin of -3.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Aeva Technologies Inc's operating margin?

Aeva Technologies Inc (AEVA) had an operating margin of -705.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Aeva Technologies Inc's net profit margin?

Aeva Technologies Inc (AEVA) had a net profit margin of -804.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Aeva Technologies Inc's return on equity (ROE)?

Aeva Technologies Inc (AEVA) has a return on equity of -1100.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Aeva Technologies Inc's free cash flow?

Aeva Technologies Inc (AEVA) generated -$119.7M in free cash flow during fiscal year 2025. This represents a -6.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Aeva Technologies Inc's operating cash flow?

Aeva Technologies Inc (AEVA) generated -$115.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Aeva Technologies Inc's total assets?

Aeva Technologies Inc (AEVA) had $179.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Aeva Technologies Inc's capital expenditures?

Aeva Technologies Inc (AEVA) invested $4.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Aeva Technologies Inc spend on research and development?

Aeva Technologies Inc (AEVA) invested $85.4M in research and development during fiscal year 2025.

How many shares does Aeva Technologies Inc have outstanding?

Aeva Technologies Inc (AEVA) had 63M shares outstanding as of fiscal year 2025.

What is Aeva Technologies Inc's current ratio?

Aeva Technologies Inc (AEVA) had a current ratio of 4.28 as of fiscal year 2025, which is generally considered healthy.

What is Aeva Technologies Inc's debt-to-equity ratio?

Aeva Technologies Inc (AEVA) had a debt-to-equity ratio of 12.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Aeva Technologies Inc's return on assets (ROA)?

Aeva Technologies Inc (AEVA) had a return on assets of -80.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Aeva Technologies Inc's cash runway?

Based on fiscal year 2025 data, Aeva Technologies Inc (AEVA) had $72.3M in cash against an annual operating cash burn of $115.1M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Aeva Technologies Inc's Piotroski F-Score?

Aeva Technologies Inc (AEVA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Aeva Technologies Inc's earnings high quality?

Aeva Technologies Inc (AEVA) has an earnings quality ratio of 0.79x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Aeva Technologies Inc?

Aeva Technologies Inc (AEVA) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.