Eve Holding (EVEX) Q3 2026 earnings summary

Executive summary

• Partial-transition testing reached 45 knots, validating 170 of 185 planned flight-test points; full transition is targeted before year-end 2026.

• Development advanced across motors, batteries, fuselage and airframe, with first conforming prototype assembly planned early next year and piloted prototype flights in H2 2027.

• ~2,500 pre-ordered aircraft and available funding support continued development, while management is prioritizing conversion of LOIs into firm orders.

Financial highlights

• Q3 2026 net loss was $58.1M versus $46.9M in Q3 2025; 9M net loss was $161.1M versus $160.3M.

• Q3 R&D expense was $48.3M versus $44.9M; SG&A was $6.0M versus $7.0M.

• Q3 operating expenses were $54.3M, up 5% YoY; 9M operating expenses were $157.8M and nearly flat YoY.

• Q3 cash consumption was $55.1M versus $60.7M YoY; 9M consumption was $173.1M.

• Q3 financial investment income was $4.3M and interest expense was $5.5M; 9M amounts were $14.1M and $15.4M.

Outlook and guidance

• 2026 cash consumption is expected at the low end of $225M–$275M guidance, supported by Embraer synergies and cost savings.

• Management expects current liquidity to fund operations through 2028; financial filings state liquidity can fund the operating plan for at least 12 months.

• Commercialization is anticipated in 2028, subject to authorizations and certifications; losses and negative operating cash flows are expected to continue until sustainable commercial operations begin.

• Quarterly R&D is expected near $50M, with six conforming prototypes planned for assembly next year; piloted prototype flights are planned for H2 2027.

• Certification plans target six prototypes and completion by end-2028; initial production-facility investment is expected late next year and in early 2028.