Eve Holding Inc Stock Price, News & Analysis

Eve Holding, Inc. (NYSE: EVEX, EVEXW) released its fourth quarter and fiscal year 2022 earnings, reporting a net loss of $20.1 million for Q4 and $174.0 million for the year. Key developments include raising $355 million through a de-SPAC transaction and securing $92.5 million in credit lines from Brazil's National Development Bank. Eve holds a backlog of 2,770 non-binding LOIs from 26 customers across 12 countries, providing strong long-term revenue visibility. The company is advancing its eVTOL certification process with Brazilian and U.S. authorities, targeting 2026 for service entry. Total liquidity exceeds $400 million, ensuring funding for R&D through 2025.

Eve Holding reported a net loss of $36.7 million in Q3 2022, up from $3.8 million in Q3 2021, primarily due to increased R&D and SG&A expenses and $17.4 million in non-cash warrant charges. R&D costs surged to $14.3 million from $2.8 million year-over-year. The company's cash consumption rose to $17 million compared to $2.4 million in Q3 2021. Despite the losses, Eve retains $329.9 million in liquidity and secured $92.5 million in credit lines from Brazil's BNDES to support its eVTOL development.

Eve Air Mobility announced the approval of $92.5 million in credit lines by Brazil's National Development Bank (BNDES) to support its eVTOL development program. The financing includes two distinct credit lines with a 12-year maturity and an amortization grace period. One line supports climate change mitigation projects, while the second focuses on innovative industrial projects. BNDES's backing is expected to enhance Eve's capital structure and align with its commitment to zero-emission aircraft and sustainable urban mobility solutions.

Eve Holding, Inc. (EVEX; EVEXW) will announce its third quarter 2022 earnings results on December 23, 2022, before market opening. A conference call discussing the results is scheduled for 9:00 AM ET that day, accessible via phone or a webcast on the company's website. The earnings call replay will be available until January 6, 2022. Eve focuses on advancing the Urban Air Mobility ecosystem, leveraging Embraer S.A.'s aerospace expertise. More details can be found at eveairmobility.com.

Eve Air Mobility (NYSE: EVEX; EVEXW) has signed a Letter of Intent with FlyBIS Aviation to collaborate on developing electric vertical take-off and landing (eVTOL) operations in Brazil and South America. FlyBIS plans to purchase up to 40 eVTOL aircraft from Eve, targeting high-traffic tourist areas to enhance urban air mobility. FlyBIS aims to expand operations to neighboring countries by 2026, contributing to Eve's order backlog of 2,770 eVTOLs. This collaboration reflects both companies' commitment to sustainable air mobility solutions.

Eve Holding, Inc. (NYSE: EVEX; EVEXW) announced it is unable to file its Quarterly Report on Form 10-Q for the quarter ending September 30, 2022, on time due to the need for further assessment of its financial statements. The company received a notice from the NYSE regarding non-compliance with its listing standards, allowing six months to regain compliance by filing the Form 10-Q. If not filed within this period, the company may face suspension and delisting. Eve aims to file the report as soon as possible to restore compliance.

Eve Air Mobility (NYSE: EVEX; EVEXW) has entered into a Letter of Intent with Bluenest, a Globalvia company, to provide its Urban Air Traffic Management (UATM) software for future vertiport automation systems. The partnership aims to develop operational models tailored to UAM operations, enhancing efficiency and safety in air traffic management. This collaboration positions Eve as a significant player in the UAM ecosystem, contributing to the integration of eVTOL aircraft and automated systems in urban environments.

Holzer & Holzer, LLC is investigating Eve Holding, Inc. (NYSE:EVEX) for potential violations of federal securities laws after the company disclosed that its financial statements for the quarter ended June 30, 2022, should not be relied upon. This announcement, made on September 29, 2022, led to a significant drop in the company’s stock price. Investors who experienced losses are encouraged to reach out to Holzer & Holzer for legal assistance.