Total revenue for the quarter reached $3.6 million, surpassing the consensus estimate of $2.76 million by $0.84 million, a 24 % beat. The surge was driven by increased shipments of Aeva’s FMCW LiDAR sensors to a growing list of automotive and industrial customers, as well as a sizable non‑recurring engineering (NRE) contract with Daimler Truck. Early orders for the Eve 1V motion‑sensing product also contributed to the top‑line lift.
Non‑GAAP diluted net loss per share was $-0.46, slightly below the consensus expectation of $-0.45, a miss of $0.01 or 2.2 %. The miss reflects higher operating expenses in the quarter, but the company’s cost‑control initiatives helped narrow the loss compared to the $-0.55 loss reported in Q3 2024.
Revenue grew 56.5 % year‑over‑year from $2.3 million in Q3 2024, underscoring the acceleration of commercial sales. The growth was largely attributable to the expansion of Aeva’s product portfolio and the entry of new customers in the automotive and manufacturing automation segments.
Gross profit improved to $430 k from a gross loss of $721 k in the same quarter last year, reflecting higher margin sensor sales and better cost management. The shift to more profitable product lines and efficient supply‑chain execution contributed to the turnaround in gross profitability.
The company reiterated its 2025 revenue guidance of $15 million to $18 million and reaffirmed a target to reduce full‑year non‑GAAP operating expense by 10 %–20 % year‑over‑year. CFO Saurabh Sinha noted that the operating loss declined 13 % year‑over‑year to $27.2 million, supporting the guidance outlook.
CEO Soroush Salehian highlighted the company’s growing customer base and the strategic significance of a $100 million convertible‑note investment from Apollo Global Management, which bolsters liquidity and signals investor confidence in Aeva’s differentiated technology and execution capability.
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