Eve Air Mobility is an aerospace company focused on developing an electric Vertical Takeoff and Landing (eVTOL) aircraft and the related Urban Air Mobility (UAM) ecosystem. It operates in a pre-revenue stage, primarily incurring costs associated with program development.

For the first quarter of 2025, Eve reported a net loss of $48.8 million, compared to a loss of $25.3 million in the same period last year. The increase in net loss was driven by an increase in Research and Development (R&D) expenses, which rose to $44.7 million from $27.5 million year-over-year, as the company advanced its eVTOL development program. Selling, General and Administrative (SG&A) expenses also saw a rise to $7.9 million from $6.5 million.

Eve’s total cash consumption in the first quarter of 2025 was $25.3 million, a decrease from $35.9 million in the prior year. Cash, cash equivalents, and financial investments at the end of the quarter totaled $287.6 million, while total liquidity, including available credit lines, reached $410.3 million.

The company reported a Research and Development budget requiring increased engineering hours due to intensified engagement with partners and suppliers. There is a significant backlog of approximately 2,800 units with a total value of roughly $14 billion based on the list price. Notably, there are non-binding Letters of Intent (LOIs) from 28 customers across various sectors.

Eve’s cash position reflects an increase in related party payables, which positively impacted its cash consumption in the quarter. The company remains on track for its financial guidance, maintaining liquidity sufficient to cover operations and program investments through 2026.

Eve plans to deploy five prototypes for its certification campaign with the first test flights expected to commence in 2026. The current focus remains on advancing program development, as evidenced by the ongoing tests of various aircraft components and systems.