EHang Holdings Limited today announced its unaudited financial results for the second quarter ended June 30, 2024.
According to the company:
“Sales and deliveries of EH216 series products were 49 units, the highest quarterly delivery volume in the company’s history, compared with five units in the second quarter of 2023, and 26 units in the first quarter of 2024. Total revenues reached a record high of RMB102.0 million (USD14.0 million), representing an increase of 919.6% from RMB10.0 million in the second quarter of 2023, and an increase of 65.3% from RMB61.7 million in the first quarter of 2024. Gross margin was 62.4%, representing a 2.2 percentage points increase from 60.2% in the second quarter of 2023, and a 0.5 percentage points increase from 61.9% in the first quarter of 2024. Operating loss was RMB77.4 million (USD10.7 million), representing a slight increase of 2.8% from RMB75.3 million in the second quarter of 2023 and an increase of 17.6% from RMB65.8 million in the first quarter of 2024.
“Adjusted operating loss (non-GAAP) was RMB4.7 million (USD0.6 million), representing a 90.9% improvement from RMB51.3 million in the second quarter of 2023, and a 62.9% improvement from RMB12.6 million in the first quarter of 2024. Net loss was RMB71.6 million (USD9.9 million), representing a 5.4% improvement from RMB75.7 million in the second quarter of 2023, and a 13.0% increase from RMB63.4 million in the first quarter of 2024.
“Adjusted net income (non-GAAP) was RMB1.2 million (USD0.2 million), compared with adjusted net loss of RMB51.8 million in the second quarter of 2023, and adjusted net loss of RMB10.1 million in the first quarter of 2024. Cash and cash equivalents, short-term deposits, restricted short-term deposits and short-term investments balances were RMB988.2 million (USD136.0 million) as of June 30, 2024. Positive cash flow from operations continued in the second quarter of 2024. This was the third consecutive quarter that the Company generated positive cash flow from operations.
“Gross proceeds raised through the at-the-market equity offering was RMB554.1 million (USD76.2 million) as of the date of this press release. The proceeds from the offering bolstered the Company’s liquidity position for driving its next stage of development and growth strategy in the global UAM industry. …”
For more information
https://ir.ehang.com/news-releases/news-release-details/ehang-reports-second-quarter-2024-unaudited-financial-results
