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Aeva Technologies
(NASDAQ:AEVA)
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Rating:46Neutral
Price Target:
$9.50
▼(-41.21% Downside)
Action:Reiterated
Date:10/15/26
The score is weighed down primarily by weak financial sustainability—large ongoing losses, substantial cash burn, and elevated leverage versus equity—despite improving revenue and a positive turn in gross margin. Technicals add additional pressure due to a strong downtrend and negative momentum, even though the stock appears oversold. The earnings call provides some support via improved liquidity and credible strategic progress, but near-term fundamentals and execution risk remain the dominant constraints.
Positive Factors
Revenue and Gross Margin Improvement
Accelerating revenue and a return to positive gross margin indicate improving commercialization and unit economics. If sustained, this combination can support operating leverage, strengthen customer confidence, and provide a foundation for narrowing losses as Aeva scales beyond its current small revenue base.
Negative Factors
Persistent Losses and Heavy Cash Burn
Large ongoing losses are translating into substantial cash consumption, showing that Aeva has not yet reached a self-funding operating model. Continued burn could require further capital before production revenue scales, limiting strategic flexibility and increasing dependence on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Gross Margin Improvement
Accelerating revenue and a return to positive gross margin indicate improving commercialization and unit economics. If sustained, this combination can support operating leverage, strengthen customer confidence, and provide a foundation for narrowing losses as Aeva scales beyond its current small revenue base.
Read all positive factors
Aeva Technologies (AEVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$727.73M
Dividend YieldN/A
Average Volume (3M)1.57M
Price to Earnings (P/E)―
Beta (1Y)3.33
Revenue Growth56.22%
EPS Growth93.61%
CountryUS
Employees239
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.20
Shares Outstanding69,705,760
10 Day Avg. Volume1,888,710
30 Day Avg. Volume1,570,213
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)57.30
Price to Sales (P/S)41.89
P/FCF Ratio-6.33
Enterprise Value/Market Cap2.45
Enterprise Value/Revenue82.50
Enterprise Value/Gross Profit303.04
Enterprise Value/Ebitda23.98
Forecast
1Y Price Target
$29.00Price Target Upside79.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.56
Revenue Forecast (FY)$31.63M
Aeva Technologies Business Overview & Revenue Model
Company Description
Aeva Technologies, Inc. specializes in cutting-edge sensing technology, producing a compact 4D LiDAR-on-chip. The company leverages its unique frequency modulated continuous wave (FMCW) method to create these devices, which are designed to facilit...
How the Company Makes Money
Aeva primarily makes money by selling its lidar sensing products and related development services to customers working on vehicle automation/ADAS and industrial sensing. Revenue is generally generated through (1) product revenue from shipments of ...
Aeva Technologies Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: strong technical validation, important customer and partner wins, a high‑potential new market entry (optical connectivity) and meaningful manufacturing progress are offset by a small current revenue base, sizeable operating losses and cash burn, timing and execution risks for scaling to hyperscaler volumes, and a CFO transition. The company has fortified liquidity which mitigates near-term financing risk while it executes on qualification and scale.Positive Updates
Q2 Revenue and Commercial Momentum
Revenue of $6.1 million in Q2 driven by strong product shipments and higher NRE; continued customer milestone deliveries and growing commercial engagements across automotive, industrial, defense, and infrastructure.
Negative Updates
Small Current Revenue Base vs. Operating Loss
Q2 revenue was $6.1 million while non-GAAP operating loss was $26.0 million (operating loss ≈ 4.3x Q2 revenue), indicating the business remains pre-profitability with meaningful operating deficits relative to current sales.
Read all updates
Q2-2026 Updates
Positive
Negative
Q2 Revenue and Commercial Momentum
Revenue of $6.1 million in Q2 driven by strong product shipments and higher NRE; continued customer milestone deliveries and growing commercial engagements across automotive, industrial, defense, and infrastructure.
Read all positive updates
Company Guidance
The company guided that Q2 revenue was $6.1M with non‑GAAP operating loss of $26M and Q2 gross cash use of $31.4M, while raising $115M of gross proceeds in June to bring total available liquidity to $302.9M at quarter end; management expects to maintain operating expenses roughly flat to up slightly year‑over‑year, continue scaling manufacturing and supply‑chain capacity, and convert growing sensor shipments and higher NRE into further commercial wins—including a signed JDA to pursue optical connectivity with planned initial volumes as soon as 2H‑2027 and ramping in 2028, a deployment the company says could exceed multiple millions of units annually and generate multiple hundreds of millions of dollars of revenue per year.Aeva Technologies Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
18
Very Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.60M | 18.08M | 9.06M | 4.31M | 4.19M | 9.27M |
| Gross Profit | 5.88M | -660.00K | -3.79M | -5.89M | -4.25M | 3.43M |
| EBITDA | 74.31M | -136.63M | -137.93M | -141.60M | -141.16M | -98.78M |
| Net Income | -32.42M | -145.43M | -152.26M | -149.33M | -147.31M | -101.51M |
Balance Sheet | ||||||
| Total Assets | 227.79M | 179.70M | 147.49M | 257.38M | 356.63M | 479.19M |
| Cash, Cash Equivalents and Short-Term Investments | 177.89M | 121.90M | 112.01M | 221.03M | 323.81M | 445.01M |
| Total Debt | 102.37M | 102.39M | 3.76M | 7.35M | 7.46M | 10.33M |
| Total Liabilities | 200.26M | 166.49M | 48.14M | 28.94M | 26.71M | 22.81M |
| Stockholders Equity | 27.53M | 13.21M | 99.35M | 228.44M | 329.93M | 456.38M |
Cash Flow | ||||||
| Free Cash Flow | -116.67M | -119.69M | -112.02M | -124.93M | -117.35M | -90.45M |
| Operating Cash Flow | -111.48M | -115.08M | -106.91M | -118.83M | -109.91M | -82.11M |
| Investing Cash Flow | -110.55M | 29.93M | 97.90M | 69.28M | 110.89M | -388.57M |
| Financing Cash Flow | 243.51M | 128.58M | -671.00K | 20.68M | -369.00K | 512.86M |
Aeva Technologies Technical Analysis
Negative
16.16
Price Trends
14.34
Negative
17.84
Negative
17.06
Negative
Market Momentum
-1.41
Positive
34.70
Neutral
34.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEVA, the sentiment is Negative. The current price of 16.16 is above the 20-day moving average (MA) of 12.06, above the 50-day MA of 14.34, and below the 200-day MA of 17.06, indicating a bearish trend. The MACD of -1.41 indicates Positive momentum. The RSI at 34.70 is Neutral, neither overbought nor oversold. The STOCH value of 34.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AEVA.
Aeva Technologies Risk Analysis
Aeva Technologies disclosed 76 risk factors in its most recent earnings report. Aeva Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aeva Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | $282.03M | -3.88 | -32.62% | ― | 106.54% | 33.28% | |
48 Neutral | $123.93M | -4.84 | -17.17% | ― | -0.42% | 41.05% | |
48 Neutral | $48.54M | -1.20 | -46.40% | ― | 90.68% | 70.00% | |
46 Neutral | $727.73M | -52.20 | -210.69% | ― | 56.22% | 93.61% | |
43 Neutral | $67.52M | -0.60 | -118.08% | ― | 41.09% | 9.05% |
* Technology Sector Average
AEVA
Aeva Technologies
10.44
-5.75
-35.52%
CVGI
Commercial Vehicle Group
3.05
1.40
84.85%
INVZ
Innoviz Technologies
0.23
-1.76
-88.64%
LIDR
AEye Inc
1.04
-1.62
-60.90%
SES
SES AI Corporation Class A
0.79
-1.48
-65.11%
Aeva Technologies Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Aeva Technologies Announces CFO Transition and Interim Appointment
Positive
Aug 5, 2026
Aeva Technologies, Inc., a Nasdaq-listed specialist in next-generation sensing and perception systems, serves automotive, industrial automation, robotics, smart infrastructure and consumer device markets through its silicon photonics-based 4D LiDA...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.