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Aeva Technologies
(NASDAQ:AEVA)
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Rating:49Neutral
Price Target:
$19.50
▲(31.31% Upside)
Action:Reiterated
Date:08/06/26
AEVA scores below average primarily due to weak financial sustainability—heavy cash burn, continued losses, and elevated leverage despite improving revenue and gross margin. The earnings call adds some support from strengthened liquidity and high-potential optical connectivity initiatives, but long-dated timelines and execution risk limit the uplift. Technicals are mixed and valuation is constrained by negative earnings and no dividend.
Positive Factors
Improving revenue and positive gross margin
Sustained revenue acceleration and a shift to positive gross margins indicate improving unit economics and commercial traction. Over the next 2–6 months this supports a path to scale: higher-margin shipments reduce the incremental cash needed per sale and make future operating leverage achievable as volume grows.
Negative Factors
Persistent heavy cash burn
Ongoing large negative operating and free cash flows mean the business currently consumes material capital to pursue commercialization. Over months this raises financing and dilution risk unless revenue ramps substantially; persistent burn constrains strategic optionality and forces reliance on external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving revenue and positive gross margin
Sustained revenue acceleration and a shift to positive gross margins indicate improving unit economics and commercial traction. Over the next 2–6 months this supports a path to scale: higher-margin shipments reduce the incremental cash needed per sale and make future operating leverage achievable as volume grows.
Read all positive factors
Aeva Technologies (AEVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.56B
Dividend YieldN/A
Average Volume (3M)1.86M
Price to Earnings (P/E)―
Beta (1Y)3.22
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. Volume1,305,623
30 Day Avg. Volume1,862,884
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$32.50Price Target Upside118.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.69
Revenue Forecast (FY)$32.04M
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 11, 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 | 78.73M | -136.63M | -137.93M | -141.63M | -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
Positive
14.85
Price Trends
21.36
Positive
19.44
Positive
16.79
Positive
Market Momentum
1.12
Negative
55.64
Neutral
54.60
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 14.85 is below the 20-day moving average (MA) of 19.42, below the 50-day MA of 21.36, and below the 200-day MA of 16.79, indicating a bullish trend. The MACD of 1.12 indicates Negative momentum. The RSI at 55.64 is Neutral, neither overbought nor oversold. The STOCH value of 54.60 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% | |
49 Neutral | $1.56B | -116.40 | -210.69% | ― | 56.22% | 93.61% | |
48 Neutral | $130.02M | -5.17 | -17.17% | ― | -0.42% | 41.05% | |
48 Neutral | $114.20M | -0.99 | -118.08% | ― | 41.09% | 9.05% | |
47 Neutral | $59.51M | -1.51 | -46.40% | ― | 90.68% | 70.00% | |
46 Neutral | $225.89M | -2.94 | -32.62% | ― | 106.54% | 33.28% |
* Technology Sector Average
AEVA
Aeva Technologies
23.28
10.18
77.71%
CVGI
Commercial Vehicle Group
3.26
1.47
82.12%
INVZ
Innoviz Technologies
0.37
-1.40
-79.10%
LIDR
AEye Inc
1.31
-1.23
-48.43%
SES
SES AI Corporation Class A
0.60
-0.48
-44.35%
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...
Executive/Board ChangesShareholder Meetings
Aeva Shareholders Reelect Directors and Ratify Auditor
Positive
Jun 25, 2026
On June 18, 2026, Aeva Technologies, Inc. held its 2026 Annual Meeting of Stockholders, where investors voted on corporate governance matters, including the election of Class II directors to serve until the 2029 annual meeting. Stockholders re-ele...
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.