Eve Holding (EVEX) investor relations material

Executive summary

• Achieved key milestones in prototype and transition flight testing, including 66 flights and validation of 150 test points between May and August 2026, with no revenue generated as commercialization is targeted for 2028.

• Advanced certification process with global authorities (ANAC, EASA), with means of compliance nearly complete and new noise certification criteria proposed.

• Announced new LOIs at Farnborough Airshow, bringing total pre-order backlog to approximately 2,700 aircraft valued at $13.5 billion, including first firm and binding orders in Japan.

• Strategic partnerships and collaborations, including with Embraer and Hitachi, support R&D, manufacturing, and urban air mobility infrastructure.

• Focused on developing eVTOL aircraft, support services, and urban air traffic management software, with ongoing ecosystem expansion.

Financial highlights

• Ended Q2 2026 with $403.3 million in cash and $531.3 million in total liquidity, including $128 million in undrawn credit facilities and grant funding.

• Net loss for Q2 2026 was $34.2 million, a 47% improvement year-over-year; six-month net loss was $103.0 million.

• R&D expenses were $28.9 million in Q2 2026, down from $45.7 million in Q2 2025; SG&A stable at $8.3 million.

• Cash burn for the first half of 2026 was $118 million; full-year guidance for 2026 cash consumption is mid-range at $250 million.

• Free cash flow in Q2 2026 was $(49.4) million, improved from $(56.9) million in Q2 2025.

Outlook and guidance

• Liquidity expected to support operations through 2028 without new funding, though ongoing capital needs are anticipated until revenue generation begins.

• R&D expected to return to ~$50 million per quarter going forward.

• CapEx for 2026 projected at $20 million, rising to $50 million in 2027 and $30–$40 million in 2028, totaling ~$100 million for modular production capacity.

• Certification and entry to service targeted for 2028, with conforming prototype flight in H2 2027.

• Future funding may include debt, equity, and customer advances as commercialization approaches.