Welcome to our dedicated page for Eve Holding news (Ticker: EVEX), a resource for investors and traders seeking the latest updates and insights on Eve Holding stock.
Eve Holding, Inc., operating as Eve Air Mobility (NYSE: EVEX, EVEXW; B3: EVEB31), generates news centered on the development of its electric vertical take-off and landing (eVTOL) aircraft and the broader Urban Air Mobility (UAM) ecosystem. As a pre-revenue aerospace company focused on aircraft development, many of its announcements relate to technical milestones, regulatory engagement, financing activities and ecosystem partnerships.
Readers following EVEX news can expect updates on flight test progress, such as the reported first flight of Eve’s uncrewed full-scale eVTOL prototype at Embraer’s test facility in Gavião Peixoto, Brazil. These items often highlight validation of key systems, including the fifth-generation fly-by-wire concept, fixed-pitch lifter rotors and the company’s lift + cruise architecture.
Eve’s news flow also includes supplier and industrialization agreements, for example the selection of BETA Technologies as the supplier of electric pusher motors for conforming prototypes and production aircraft, and master services agreements with Embraer to support industrialization and plant operation at its Taubaté manufacturing site. Financing developments, such as credit lines from BNDES and credit facilities with PEFCO and EXIM Bank, as well as equity capital raises and dual-listing steps, are another recurring theme.
In addition, EVEX news covers regulatory and ecosystem initiatives, including framework agreements with government bodies like Bahrain’s Ministry of Transportation and Telecommunications and summits with InvestSP in São Paulo to discuss regulation, vertiports, charging infrastructure and workforce training. Investors and observers can use this news page to monitor how Eve advances its eVTOL program, builds its supply chain, engages regulators and develops UAM infrastructure concepts over time.
Eve Holding (NYSE: EVEX) reported its Q3 2024 results, showing a net loss of $35.8 million, up from $31.2 million in Q3 2023. R&D expenses increased to $32.4 million from $28.6 million, while SG&A rose to $8.4 million from $5.0 million. The company maintains strong liquidity with $279.8 million in cash and investments, plus $25 million available from BNDES facility. Post-quarter, Eve secured additional funding through a $90 million BNDES credit line and a $50 million Citibank loan to support operations and program investments.
Eve Holding, Inc. (NYSE: EVEX) reported its Q2 2024 results, showing a net loss of $36.4 million, up from $31.4 million in Q2 2023. The increase was primarily due to higher R&D expenses of $36.3 million, up from $21.8 million last year, driven by eVTOL development activities. SG&A expenses decreased to $5.4 million from $6.6 million, benefiting from lower outsourced services, payroll costs, and currency depreciation. Eve's total cash used was $31.4 million, up from $27.8 million in Q2 2023. Post-quarter, Eve secured $95.6 million in new equity financing from investors including Embraer and Nidec. As of June 30, 2024, Eve's total liquidity would have been $338.0 million.
Eve Air Mobility (NYSE: EVEX) announced $94 million in new equity financing from multiple investors, including strategic industrial companies like Embraer and Nidec. The funds will support the development and manufacturing of Eve's electric vertical take-off and landing (eVTOL) aircraft. This financing involves issuing 23.5 million new shares at $4.00 per share, along with warrants. The company aims to use the proceeds for ongoing development, bolstered by existing cash and credit lines. Eve holds the industry's largest pre-order book of 2,900 aircraft and is advancing its first full-scale eVTOL prototype. The equity funding is expected to close in the coming weeks, pending customary conditions. Further details are in Eve's Form 8-K filed with the SEC.
Eve Air Mobility (NYSE: EVEX; EVEXW) has appointed Latecoere (Paris: LAT) as the supplier for the doors of its eVTOL (electric vertical takeoff and landing) aircraft. Eve is a global leader in the eVTOL sector, focusing on sustainable, all-electric flight. The company, headquartered in Melbourne, FL, employs nearly 1,000 people and is developing a four-passenger, one-pilot eVTOL aircraft.
Latecoere will be responsible for designing and manufacturing the passenger and pilot doors, with an emphasis on safety, weight optimization, and low-carbon commitments. This collaboration is expected to help Eve achieve its development, certification, and production milestones.
Additionally, Eve plans to begin deliveries in 2026 and has an industry-leading backlog with letters of intent for up to 2,900 eVTOL aircraft. The first production facility will be located in Taubaté, São Paulo, Brazil, and the assembly of the first full-scale prototype is underway.
Eve Holding, Inc. reports a net loss of $25.3 million in 1Q24, a decrease from $25.8 million in 1Q23, despite higher R&D and SG&A expenses. The company is focused on developing an eVTOL aircraft and Urban Air Mobility ecosystem. R&D expenses rose to $27.5 million, driven by developmental activities with Embraer. SG&A expenses increased to $6.5 million, mainly due to headcount growth and industrialization costs. Eve's total cash used in operations was $35.9 million in 1Q24. Despite the loss, the fair value of derivatives resulted in a $6.3 million gain, partially offsetting expenses.
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