EHang Holdings has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.
Operational and financial highlights for the Fourth Quarter of 2024 include:
- EH216 series eVTOL sales and deliveries achieved a record-high of 78 units, representing a 239.1% increase from 23 units in the fourth quarter of 2023, and a 23.8% increase from 63 units in the third quarter of 2024.
- Total revenues reached a record-high of RMB164.3 million (USD22.5 million), up 190.2% YoY from RMB56.6 million in the fourth quarter of 2023, and up 28.2% QoQ from RMB128.1 million in the third quarter of 2024.
- Gross margin was 60.7%, slightly down from 64.7% in the fourth quarter of 2023, and on par with 61.2% in the third quarter of 2024.
- Operating loss was RMB55.4 million (USUSD7.6 million), representing a 26.4% improvement from RMB75.2 million in the fourth quarter of 2023 and on par with RMB54.7 million in the third quarter of 2024.
- Adjusted operating income3 (non-GAAP) was RMB27.9 million (USD3.8 million), a significant improvement from an adjusted operating loss3 of RMB24.9 million in the fourth quarter of 2023 and a 208.2% increase from RMB9.0 million in the third quarter of 2024.
- Net loss was RMB46.9 million (USD6.4 million), representing a 35.3% improvement from RMB72.5 million in the fourth quarter of 2023, and a 2.6% improvement from RMB48.1 million in the third quarter of 2024.
- Adjusted net income1 (non-GAAP) was RMB36.4 million (USD5.0 million), a significant improvement from an adjusted net loss1 of RMB22.1 million in the fourth quarter of 2023, and a 132.3% increase from RMB15.7 million in the third quarter of 2024, the third consecutive quarter of non-GAAP profitability1.
- Cash and cash equivalents, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (USD158.2 million) as of December 31, 2024.
- Positive operating cash flow continued for the fifth consecutive quarter.
- Strategic PIPE investments of over USD22 million from Zhuhai Enpower Electric Co., Ltd. (Enpower) and a strategic institutional investor from Middle East.
Operational and financial highlights for the Fiscal Year 2024 include:
- EH216 series eVTOL sales and deliveries were 216 units, a 315.4% increase from 52 units in 2023.
- Total revenues reached a record-high of RMB456.2 million (USD62.5 million), up 288.5% from RMB117.4 million in 2023.
- Gross margin was 61.4%, a slight decrease from 64.1% in 2023.
- Operating loss was RMB253.4 million (USD34.7 million), a 14.5% improvement from RMB296.3 million in 2023.
- Adjusted operating income (non-GAAP) was RMB19.7 million (USD2.7 million), a significant improvement from an adjusted operating loss3 (non-GAAP) of RMB144.8 million in 2023.
- Net loss was RMB230.0 million (USD31.5 million), a 23.9% improvement from RMB302.3 million in 2023.
- Adjusted net income1 (non-GAAP) was RMB43.1 million (USD5.9 million), a significant improvement from an adjusted net loss1 (non-GAAP) of RMB138.8 million in 2023, while delivering the Company’s first year of non-GAAP profitability1.
- Cash and cash equivalents, short-term deposits, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (USD158.2 million) as of December 31, 2024, a 245.7% increase from RMB334.1 million as of December 31, 2023.
- Positive operating cash flow for the first year with a net cash inflow from operating activities of around RMB160 million (USD21.9 million) in 2024.
For more information
https://ir.ehang.com/news-releases/news-release-details/ehang-reports-fourth-quarter-and-fiscal-year-2024-unaudited