Published on 7 May 2024 on GuruFocus.com via Yahoo Finance
Aeva Technologies Inc (AEVA) Q1 2024 Earnings: Narrowing Losses Amidst Record Product Shipments
Revenue: Reported at $2.1 million for Q1 2024, up from $1.1 million in Q1 2023, exceeding the estimate of $1.7 million.Net Loss: GAAP net loss widened to $35.3 million in Q1 2024 from $35.2 million in Q1 2023, exceeding the estimated net loss of $33.3 million.Earnings Per Share: GAAP net loss per share was $0.67, compared to $0.80 in Q1 2023, above the estimated loss per share of $0.61.Cash Position: Ended the quarter with $189.3 million in cash, cash equivalents, and marketable securities, down from $221 million at the end of 2023.Operating Loss: GAAP operating loss remained flat at $37.3 million, with a non-GAAP operating loss of $32.1 million in Q1 2024.Stock-Based Compensation: Total stock-based compensation expense was $5.3 million in Q1 2024, reflecting a decrease from $6.0 million in Q1 2023.
Warning! GuruFocus has detected 5 Warning Signs with AEVA.