Eve Holding Stock Earnings Reports

Eve reported substantial progress on its eVTOL flight test program and maintained a strong liquidity position. The engineering prototype completed 59 flights (~2.5 hours total), validated 130 performance points, reached 215 ft and 30 knots, and demonstrated features such as Autoland and multi-axis maneuvers. The company is entering a ground-test and software-refinement phase to prepare for transition flights (partial then full transition above 85 knots) with a target to begin transition testing in H2 2026 and conforming-prototype testing in 2027; Eve now expects certification and entry into service more likely in 2028. Regulatory engagement is active (ANAC, FAA, JCAB, EASA type-certificate application submitted). Backlog stands at ~2,700 preorders (~$13.5B list price) with a mix of LOIs and 2 currently binding orders; Eve is focusing on converting LOIs and preparing the ecosystem and customers for operations. Financially, Eve ended Q1 2026 with $441M cash and $578M total liquidity (including $136M undrawn credit), raised a $150M 5-year loan, and expects 2026 cash burn of $225–$275M (excluding potential synergies). Eve and Embraer have identified $100M–$150M of potential synergies (2026–2028) to reduce cash burn. Q1 expenses included $59M R&D, $7M SG&A, and a net loss of $69M. Production planning for conforming prototypes targets completion of the first conforming prototype assembly by year-end, first flight mid-next year, and then roughly monthly prototype production up to about six units to support certification.