Successfully Completed Top-10 Global Passenger OEM’s Development Program; In Late-stage Contract Negotiations for Series Production Award

Expanded Manufacturing Automation Product Line to Include Motion Sensing with Initial Sensor Orders Received

Bolstered Balance Sheet with $100M Investment from Apollo Global Management to Accelerate Aeva’s Commercial Momentum
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced its third quarter 2025 results.

Key Company Highlights

Successfully completed the joint development program with a Top-10 global passenger OEM and advanced to late-stage contract negotiations for a large scale series production award
Growing interest and engagements with other major OEMs to leverage Aeva 4D LiDAR for L3 automotive applications
Expanded deeper into manufacturing automation with Eve 1V motion sensing product line; initial orders received from multiple customers
Brought up manufacturing line for Eve 1D with the first units produced and shipped to customers
Apollo Global Management to invest $100 million in convertible unsecured senior notes, further positioning Aeva to accelerate commercial momentum
On track with Daimler Truck production program with first vehicle builds completed and orders received for Atlas C Samples in 2026 to support OEM’s growing vehicle fleet
Released AevaScenes, the industry’s first FMCW 4D LiDAR open dataset, to advance research and adoption of FMCW for next-generation autonomous vehicle perception
“Aeva continues to gain the trust of an expanding list of diverse customers, driven by our unified perception platform that enables next-generation capabilities across a broad range of applications,” said Soroush Salehian, Co-founder and CEO at Aeva. “This includes progressing with the Top-10 global passenger OEM to final contract negotiations for a series production award. This is a pivotal time for the industry, and to further position Aeva to scale multiple programs and secure additional wins, we raised $100 million of additional capital, highlighting investor confidence in Aeva’s differentiated technology and ability to execute on our strong momentum.”

Third Quarter 2025 Financial Highlights

Cash, Cash Equivalents and Marketable Securities
Cash, cash equivalents and marketable securities of $48.9 million and available equity facility of $125.0 million as of September 30, 2025
Revenue
Revenue of $3.6 million in Q3 2025, compared to revenue of $2.3 million in Q3 2024
GAAP and Non-GAAP Operating Loss*
GAAP operating loss of $33.2 million in Q3 2025, compared to GAAP operating loss of $37.9 million in Q3 2024
Non-GAAP operating loss of $27.2 million in Q3 2025, compared to non-GAAP operating loss of $31.4 million in Q3 2024
GAAP and Non-GAAP Net Income or Loss per Share*
GAAP basic net income per share of $1.86 and diluted net loss per share of $0.52 in Q3 2025, compared to GAAP basic and diluted net loss per share of $0.70 in Q3 2024
Non-GAAP basic and diluted net loss per share of $0.46 in Q3 2025, compared to non-GAAP basic and diluted net loss per share of $0.55 in Q3 2024
Shares Outstanding
Weighted basic average shares outstanding of 57.9 million and diluted average shares outstanding of 61.1 million in Q3 2025
*Tables reconciling GAAP to non-GAAP measures are provided at the end of this release

Aeva Reports Third Quarter 2025 Results