EHang Holdings Limited today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023.
According to the company:
Financial and Operational Highlights for the Fourth Quarter 2023
- Total revenues were RMB56.6 million (USD8.0 million), representing a substantial increase of 260.9% from RMB15.7 million in the fourth quarter of 2022, and a notable increase of 97.8% from RMB28.6 million in the third quarter of 2023.
- Gross margin was 64.7%, representing a consistently high gross margin level with a slight decrease of 1.4 percentage points compared to 66.1% in the fourth quarter of 2022, but on par with 64.6% in the third quarter of 2023. The year-over-year decrease was mainly due to changes in revenue mix.
- Operating loss was RMB75.2 million (USD10.6 million), representing an 18.4% improvement from RMB92.2 million in the fourth quarter of 2022 and a 7.4% increase from RMB70.0 million in the third quarter of 2023.
- Adjusted operating loss (non-GAAP) was RMB24.9 million (USD3.5 million), representing a 59.4% improvement from RMB61.3 million in the fourth quarter of 2022, and a 27.3% improvement from RMB34.2 million in the third quarter of 2023.
- Net loss was RMB72.5 million (USD10.2 million), representing a 34.2% improvement from RMB110.1 million in the fourth quarter of 2022, and an 8.0% increase from RMB67.1 million in the third quarter of 2023.
- Adjusted net loss (non-GAAP) was RMB22.1 million (USD3.1 million), representing a 62.8% improvement from RMB59.4 million in the fourth quarter of 2022, and a 29.4% improvement from RMB31.3 million in the third quarter of 2023.
- Cash, cash equivalents, short-term deposits, short-term investments and restricted short-term deposits balances were RMB334.1 million (USD47.1 million) as of December 31, 2023. During the fourth quarter of 2023, in which the EH216-S obtained the TC, the Company generated positive cash flow from operations.
- Sales and deliveries of EH216 series products were 23 units, a notable increase compared with 6 units in the fourth quarter of 2022, and 13 units in the third quarter of 2023.
Financial and Operational Highlights for the Fiscal Year 2023
- Total revenues were RMB117.4 million (USD16.5 million), representing a substantial increase of 165.0% from RMB44.3 million in 2022.
- Gross margin was 64.1%, representing a decrease of 1.8 percentage points from 65.9% in 2022.
- Operating loss was RMB296.3 million (USD41.7 million), representing a 2.5% improvement from RMB304.0 million in 2022.
- Adjusted operating loss (non-GAAP) was RMB144.8 million (USD20.4 million), representing a 30.1% improvement from RMB207.1 million in 2022.
- Net loss was RMB302.3 million (USD42.6 million), representing an 8.2% improvement from RMB329.3 million in 2022.
- Adjusted net loss (non-GAAP) was RMB138.8 million (USD19.6 million), representing a 32.7% improvement from RMB206.2 million in 2022.
- Cash, cash equivalents, short-term deposits, short-term investments and restricted short-term deposits balances were RMB334.1 million (USD47.1 million) as of December 31, 2023, compared with RMB249.3 million as of December 31, 2022.
- Sales and deliveries of the EH216 series products were 52 units in 2023, a significant increase compared with 21 units in 2022.
For more information
https://ir.ehang.com/news-releases/news-release-details/ehang-reports-fourth-quarter-and-fiscal-year-2023-unaudited
(Image: EHang)