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Investor Relations14 Oct 2025
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EHang (EH) investor relations material
EHang Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary26 Aug, 2025
Executive summary
Revenues surged 44.2% year-over-year and 464.0% quarter-over-quarter to RMB147.2 million, driven by robust EH216 series eVTOL deliveries and strong market demand.
Delivered 68 EH216 series units in Q2 2025, with over 150 new orders received, 90% domestic and 10% overseas, to be fulfilled in future quarters.
Expanded commercial operations with more than 40 dedicated sites in China, over 10,000 safe flights in H1 2025, and global operations in 20 countries.
Initiated trial commercial human-carrying flights in Guangzhou and Hefei, aiming for public launch within the year.
Strengthened liquidity with US$23.8 million raised via an at-the-market equity offering to support R&D, production, and expansion.
Financial highlights
Q2 2025 revenue reached RMB147.2 million, up 44.2% year-over-year and 464.0% sequentially, with gross margin stable at 62.6%.
Adjusted net income was RMB9.4 million, a significant improvement from prior losses.
Operating expenses increased to RMB173 million, reflecting business expansion and R&D investment.
Cash and equivalents, restricted and short-term investments totaled RMB1.15 billion as of June 30, 2025.
Adjusted operating loss (non-GAAP) narrowed to RMB1.9 million, a 95.5% improvement quarter-over-quarter.
Outlook and guidance
Full-year 2025 revenue guidance set at approximately RMB500 million, up from RMB446.2 million in 2024, reflecting a focus on safety, operational support, and commercial eVTOL operations.
Public-facing commercial operation services for EH216-S expected to launch within the year.
VT35 next-generation eVTOL set for official unveiling in September 2025.
Management expects significant revenue growth in 2026 after a period of strategic adjustment.
Detail 2025 revenue guidance revision factors
Hefei VT35 hub's impact on development?
Timeline for public EH216-S commercial ops?
Rationale for 2025 revenue guidance adjustment
Hefei partnership's impact on VT35 rollout
Key milestones for overseas commercial operations?
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Next EHang earnings date
Q3 202517 Nov, 2025
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Frequently asked questions
EHang Holdings Limited operates through two segments, Products and Application Solutions. It provides traffic control for unmanned aerial vehicles and industrial control UAV platforms. The company is also involved in the provision of commercialized products, including AAV command and control systems, AAVs, hybrid micro-power stations, flight control systems, on-ground command and control systems, management information systems, and other products. Its AAVs comprise two series, namely the Ehang 184 series and EHANG 216 series; and passenger drones that transport people quickly, safely, and comfortably to their destinations.
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