Aeva Technologies, Inc. (AEVA)
NASDAQ:AEVA
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Aeva Technologies
(NASDAQ:AEVA)
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Rating:56Neutral
Price Target:
$25.00
▲(58.93% Upside)
Action:Reiterated
Date:06/05/26
The score is held down most by weak financial performance—large ongoing losses, high cash burn, and a more fragile capital structure (higher debt and negative equity). Offsetting this are strong technical momentum and a constructive earnings-call outlook highlighting accelerating revenue growth and multiple commercial wins, while valuation support is limited due to negative earnings and no dividend.
Positive Factors
Accelerating Revenue Growth
Sustained high single-quarter growth demonstrates early commercial traction and improving go-to-market effectiveness. Repeated quarter-over-quarter acceleration suggests conversion of evaluation/NRE work into product revenue, building a foundation for eventual scale if OEM and industrial ramps continue.
Negative Factors
Heavy and Persistent Cash Burn
Large, ongoing negative operating and free cash flow indicate the business is not yet self‑funding and will require external capital until scale improves. Persistent burn raises dilution and refinancing risk, constrains strategic optionality, and can force tradeoffs between growth investments and cash preservation.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Sustained high single-quarter growth demonstrates early commercial traction and improving go-to-market effectiveness. Repeated quarter-over-quarter acceleration suggests conversion of evaluation/NRE work into product revenue, building a foundation for eventual scale if OEM and industrial ramps continue.
Read all positive factors
Aeva Technologies (AEVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.75B
Dividend YieldN/A
Average Volume (3M)2.43M
Price to Earnings (P/E)―
Beta (1Y)2.61
Revenue Growth103.11%
EPS Growth7.34%
CountryUS
Employees276
SectorTechnology
Sector Strength88
IndustryAuto - Parts
Share Statistics
EPS (TTM)-2.47
Shares Outstanding63,040,820
10 Day Avg. Volume2,844,348
30 Day Avg. Volume2,433,789
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 Cap1.06
Enterprise Value/Revenue88.08
Enterprise Value/Gross Profit1.90K
Enterprise Value/Ebitda80.14
Forecast
1Y Price Target
$23.00Price Target Upside46.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-1.68
Revenue Forecast (FY)$32.90M
Aeva Technologies Business Overview & Revenue Model
Company Description
Aeva Technologies, Inc., through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications. from automated driving to consumer electronics, consumer...
How the Company Makes Money
Aeva makes money primarily by selling lidar-related hardware and associated development/engineering services tied to customer evaluation and integration programs. Key revenue streams include: (1) product revenue from delivering lidar sensors (and,...
Aeva Technologies Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call highlights meaningful commercial momentum across multiple end markets (automotive production-intent deliveries, top OEM integrations, NVIDIA reference selection, defense wins, CityOS deployment, Nikon product launch) and very strong revenue growth (+90% YoY) while preserving liquidity. Offsetting risks include continued operating losses ($25.8M), quarterly cash use ($28.1M), the need to scale manufacturing, and several opportunities that remain early-stage or subject to multi-year timelines. Overall, the highlights and advancing commercial traction outweigh the financial and execution risks presented.Positive Updates
Record Quarterly Revenue and Strong YoY Growth
Q1 revenue of $6.3 million, a new company quarterly record and roughly a 90% year-over-year increase, driven by scaling sensor shipments and milestone progression with major customers.
Negative Updates
Absolute Revenue Base Still Small
Despite 90% YoY growth, absolute Q1 revenue remains modest at $6.3 million, indicating early-stage commercial scale relative to large TAM opportunities.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Revenue and Strong YoY Growth
Q1 revenue of $6.3 million, a new company quarterly record and roughly a 90% year-over-year increase, driven by scaling sensor shipments and milestone progression with major customers.
Read all positive updates
Company Guidance
Management's guidance focused on execution and scaling manufacturing to support accelerating commercial momentum — specifically scaling Atlas deliveries to Daimler Truck this year ahead of Daimler's target launch in 2027 and supporting the top European passenger OEM's path to SOP in 2028 — and pursuing additional wins (targeting four commercial wins in 2026, already counting Forterra and NVIDIA). Financially they reiterated Q1 results and runway metrics: record revenue of $6.3M (≈+90% YoY), non‑GAAP operating loss of $25.8M (about flat YoY), gross cash use of $28.1M, and total available liquidity of $224.5M ( $99.5M cash/cash equivalents/marketable securities + $125M undrawn facility). They also highlighted crystallizing deployments and volumes to support growth — CityOS expansion to 30 additional Georgia intersections, Nikon's APDIS MV5 under a multiyear production agreement, shipping 1,000+ Eve sensors, Forterra's MESA integrating four Atlas sensors, and pursuing high‑volume ADAS opportunities with potential 100k+ unit run rates.Aeva Technologies Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.97M | 18.08M | 9.06M | 4.31M | 4.19M | 9.27M |
| Gross Profit | 971.00K | -660.00K | -3.79M | -5.89M | -4.25M | 3.43M |
| EBITDA | 23.05M | -136.63M | -137.93M | -140.08M | -145.81M | -101.08M |
| Net Income | -145.54M | -145.43M | -152.26M | -149.33M | -147.31M | -101.51M |
Balance Sheet | ||||||
| Total Assets | 147.30M | 179.70M | 147.49M | 257.38M | 356.63M | 479.19M |
| Cash, Cash Equivalents and Short-Term Investments | 99.50M | 121.90M | 112.01M | 221.03M | 323.81M | 445.01M |
| Total Debt | 102.06M | 102.39M | 3.76M | 7.35M | 7.46M | 10.33M |
| Total Liabilities | 159.71M | 166.49M | 48.14M | 28.94M | 26.71M | 22.81M |
| Stockholders Equity | -12.41M | 13.21M | 99.35M | 228.44M | 329.93M | 456.38M |
Cash Flow | ||||||
| Free Cash Flow | -116.51M | -119.69M | -112.02M | -124.93M | -117.35M | -90.45M |
| Operating Cash Flow | -110.13M | -115.08M | -106.91M | -118.83M | -109.91M | -82.11M |
| Investing Cash Flow | -13.88M | 29.93M | 97.90M | 69.28M | 110.89M | -388.57M |
| Financing Cash Flow | 133.98M | 128.58M | -671.00K | 20.68M | -369.00K | 512.86M |
Aeva Technologies Technical Analysis
Positive
15.73
Price Trends
17.70
Positive
16.27
Positive
15.47
Positive
Market Momentum
2.79
Negative
56.77
Neutral
55.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEVA, the sentiment is Positive. The current price of 15.73 is below the 20-day moving average (MA) of 22.35, below the 50-day MA of 17.70, and above the 200-day MA of 15.47, indicating a bullish trend. The MACD of 2.79 indicates Negative momentum. The RSI at 56.77 is Neutral, neither overbought nor oversold. The STOCH value of 55.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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% | |
59 Neutral | $209.57M | -10.74 | -12.93% | ― | -11.44% | 50.49% | |
56 Neutral | $1.75B | ― | 691.75% | ― | 103.11% | 7.34% | |
56 Neutral | $491.15M | ― | -32.48% | ― | 179.82% | 26.84% | |
51 Neutral | $158.60M | -1.99 | -101.64% | ― | 29.57% | 13.83% | |
51 Neutral | $92.17M | -2.58 | -56.22% | ― | 9.76% | 68.22% |
* Technology Sector Average
AEVA
Aeva Technologies
24.40
5.35
28.08%
CVGI
Commercial Vehicle Group
5.52
4.15
302.92%
INVZ
Innoviz Technologies
0.75
-0.17
-18.08%
LIDR
AEye Inc
1.96
1.21
161.33%
SES
SES AI Corporation Class A
1.34
0.41
44.09%
Aeva Technologies Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Aeva Technologies Announces Follow-On Public Stock Offering
Positive
Jun 4, 2026
On June 3, 2026, Aeva Technologies entered into an underwriting agreement with Morgan Stanley Co. and other underwriters for a follow-on public offering of 4,494,382 shares of common stock at $22.25 per share, with a 30-day option for 674,157 add...
Executive/Board ChangesRegulatory Filings and Compliance
Aeva Technologies Approves 2025 Executive Cash Bonuses
Positive
Jun 1, 2026
On May 29, 2026, Aeva Technologies’ compensation committee approved cash bonuses for its named executive officers for their service in 2025, after the amounts were left undetermined at the time of the company’s definitive proxy filing....
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.