Aeva Technologies, Inc. reported fourth‑quarter 2025 revenue of $5.62 million, a 100% year‑over‑year increase, and a net loss of $25.3 million, translating to earnings per share of $‑0.40. The earnings beat the consensus estimate of $‑0.44, a margin of $0.04 or 9% of the estimate, largely because the company captured strong demand from automotive and industrial customers and managed to keep operating costs in line with revenue growth.
Gross profit for the quarter was $1.3 million, giving a gross margin of roughly 23%. The positive gross margin reflects the company’s ability to convert its high‑resolution, frequency‑modulated continuous‑wave LiDAR technology into revenue, even as it continues to invest heavily in product development and scaling. The gross profit figure also signals that the company is moving toward a more sustainable cost structure as it expands its sensor shipments.
GAAP operating loss for Q4 was $29.1 million, while the non‑GAAP operating loss was $23.8 million. The operating loss is driven by continued investment in research and development, manufacturing scale‑up, and the cost of securing new development programs with major OEMs. The company’s management emphasized that these investments are necessary to accelerate the commercialization of its Atlas Ultra 4D LiDAR sensor.
Aeva secured a development program with a top‑10 global passenger OEM for its Atlas Ultra 4D LiDAR sensor, a milestone that is expected to generate significant revenue in 2026 and beyond as the OEM integrates the sensor into its next‑generation vehicle platform. In addition, the company announced a new development program with a top‑5 global passenger OEM, positioning it for a potential production award in the near term. These wins underscore Aeva’s progress toward scaling its technology and expanding its customer base.
Management reiterated its 2026 revenue guidance of $30–36 million, well above the analyst consensus estimate of $28.34 million. The guidance reflects confidence in continued demand for high‑resolution LiDAR and the company’s ability to convert development programs into production revenue. The company also highlighted its liquidity position, with $246.9 million in available cash and an undrawn facility, giving it the financial flexibility to sustain its growth trajectory.
"2025 was a transformational year at Aeva," said CEO Soroush Salehian. "We have solidified our leadership position with more customers adopting our unique perception platform and industry leaders partnering with us to further accelerate our momentum." CFO Saurabh Sinha added, "We had a record revenue quarter and year for Aeva in 2025. Revenue in Q4 was $5.6 million and for the full year, $18.1 million, which reflects doubling of our revenues last year compared to 2024."
"Aeva's total available liquidity at the end of 2025 was $246.9 million, consisting of $121.9 million in cash, cash equivalents and marketable securities and $125 million in an undrawn facility," CFO Sinha noted.
The company’s earnings beat and strong guidance, coupled with the OEM development programs, are expected to reinforce investor confidence in Aeva’s ability to scale its FMCW LiDAR technology and capture a larger share of the growing autonomous vehicle market.
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