Aeva Technologies (AEVA)
NASDAQ:AEVA
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Aeva Technologies
(NASDAQ:AEVA)
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Rating:48Neutral
Price Target:
$15.00
▲(14.94% Upside)
Action:ReiteratedDate:02/27/26
The score is held down primarily by very weak financial performance (large losses, negative gross profit, heavy cash burn, and sharply higher leverage). The latest earnings call provides a meaningful offset with strong 2026 growth guidance and commercial/production milestones, but technical indicators are mixed and valuation is difficult to support with negative earnings and no dividend.
Positive Factors
Major OEM production win
An exclusive production award from a top European OEM materially validates Aeva's FMCW 4D LiDAR technology and creates a multi-year revenue runway if SOP executes. Exclusivity outside China and a clear SOP target support durable OEM adoption, engineering commitment, and deeper integration into vehicle platforms.
Negative Factors
Persistent heavy cash burn
Sustained large negative operating and free cash flow means the business remains dependent on external financing until significant scale is achieved. If customer ramps or SOP timing slip, continued cash consumption could force dilution or constrained investment in product and supply‑chain expansion, harming long-term execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Major OEM production win
An exclusive production award from a top European OEM materially validates Aeva's FMCW 4D LiDAR technology and creates a multi-year revenue runway if SOP executes. Exclusivity outside China and a clear SOP target support durable OEM adoption, engineering commitment, and deeper integration into vehicle platforms.
Read all positive factors
Aeva Technologies (AEVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$821.47M
Dividend YieldN/A
Average Volume (3M)1.55M
Price to Earnings (P/E)―
Beta (1Y)2.76
Revenue Growth89.90%
EPS Growth5.13%
CountryUS
Employees276
SectorTechnology
Sector Strength88
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.40
Shares Outstanding62,947,690
10 Day Avg. Volume1,117,271
30 Day Avg. Volume1,554,595
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)57.30
Price to Sales (P/S)41.89
P/FCF Ratio-6.33
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue47.10
Enterprise Value/Gross Profit-1.29K
Enterprise Value/Ebitda30.23
Forecast
1Y Price Target
$25.67Price Target Upside96.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.8
Revenue Forecast (FY)$28.34M
Aeva Technologies Business Overview & Revenue Model
Company Description
Aeva Technologies, Inc., through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications. from automated driving to consumer electronics, consumer...
How the Company Makes Money
Aeva makes money primarily by selling LiDAR-based products and related services to customers that integrate sensing into vehicles or other platforms. Key revenue streams include: (1) Product revenue from shipments of LiDAR sensors and associated c...
Aeva Technologies Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call emphasized significant commercial validation and momentum — major production wins (top European passenger OEM), NVIDIA reference selection, partnerships (LG Innotek), product milestones, and a record 100% YoY revenue increase. Management provided a decisive growth plan for 2026 (guidance of $30M–$36M revenue and multiple commercial targets) while improving operating efficiency and maintaining substantial liquidity. However, the company continues to face meaningful cash burn, sizable operating losses, execution and timing risks tied to customer ramps and supply-chain scaling, and competition and market timing uncertainties. On balance, the positive commercial progress and strengthened financial position outweigh the near-term financial and execution risks.Positive Updates
Major Passenger OEM Production Award
Won first major passenger vehicle production program from a top European OEM; Aeva will be the exclusive LiDAR supplier globally outside China with a target start of production (SOP) in 2028 — a significant validation for FMCW transition.
Negative Updates
Absolute Revenue Still Modest
Despite 100% YoY growth, full-year 2025 revenue was $18.1M — still a relatively small absolute base ahead of required scale for profitability.
Read all updates
Q4-2025 Updates
Positive
Negative
Major Passenger OEM Production Award
Won first major passenger vehicle production program from a top European OEM; Aeva will be the exclusive LiDAR supplier globally outside China with a target start of production (SOP) in 2028 — a significant validation for FMCW transition.
Read all positive updates
Company Guidance
Aeva's 2026 guidance targets revenue of $30–36 million (≈70%–100% YoY growth versus 2025’s $18.1M, sustaining a ~doubling trajectory), aims for 4+ commercial wins, a 5× increase in industrial sensor shipments and plans to ship Atlas C‑samples to Daimler Truck this year; operational milestones include beginning production on the fully automated final‑assembly line (supporting ~100,000 systems annually) and scaling module supply‑chain capacity with partners, while financial discipline calls for full‑year non‑GAAP operating expenses to be similar to 2025 or up to +10% (after a 12% reduction in 2025 OPEX and a 17% improvement in non‑GAAP operating loss to $102M), with management expecting quarter‑to‑quarter revenue variability and funding execution from $246.9M of year‑end 2025 liquidity ($121.9M cash + $125M undrawn) following roughly $150M of balance‑sheet additions and LG Innotek’s up‑to‑$50M investment.Aeva Technologies Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.08M | 9.06M | 4.31M | 4.19M | 9.27M |
| Gross Profit | -660.00K | -3.79M | -5.89M | -4.25M | 3.43M |
| EBITDA | -136.63M | -137.93M | -140.08M | -145.81M | -101.08M |
| Net Income | -145.43M | -152.26M | -149.33M | -147.31M | -101.51M |
Balance Sheet | |||||
| Total Assets | 179.70M | 147.49M | 257.38M | 356.63M | 479.19M |
| Cash, Cash Equivalents and Short-Term Investments | 121.90M | 112.01M | 221.03M | 323.81M | 445.01M |
| Total Debt | 102.39M | 3.76M | 7.35M | 7.46M | 10.33M |
| Total Liabilities | 166.49M | 48.14M | 28.94M | 26.71M | 22.81M |
| Stockholders Equity | 13.21M | 99.35M | 228.44M | 329.93M | 456.38M |
Cash Flow | |||||
| Free Cash Flow | -119.69M | -112.02M | -124.93M | -117.35M | -90.45M |
| Operating Cash Flow | -115.08M | -106.91M | -118.83M | -109.91M | -82.11M |
| Investing Cash Flow | 29.93M | 97.90M | 69.28M | 110.89M | -388.57M |
| Financing Cash Flow | 128.58M | -671.00K | 20.68M | -369.00K | 512.86M |
Aeva Technologies Technical Analysis
Negative
13.05
Price Trends
13.75
Negative
14.04
Negative
16.38
Negative
Market Momentum
-0.46
Positive
45.09
Neutral
40.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AEVA, the sentiment is Negative. The current price of 13.05 is below the 20-day moving average (MA) of 14.06, below the 50-day MA of 13.75, and below the 200-day MA of 16.38, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 45.09 is Neutral, neither overbought nor oversold. The STOCH value of 40.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AEVA.
Aeva Technologies Risk Analysis
Aeva Technologies disclosed 77 risk factors in its most recent earnings report. Aeva Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aeva Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $146.18M | -2.14 | -16.59% | ― | -23.26% | -259.03% | |
54 Neutral | $71.65M | -12.53 | -72.75% | ― | -19.11% | 73.51% | |
48 Neutral | $821.47M | -5.21 | 9999.00% | ― | 89.90% | 5.13% | |
48 Neutral | $139.59M | -2.52 | -73.64% | ― | 46.09% | 46.01% | |
43 Neutral | $352.00M | -8.16 | -30.37% | ― | ― | -15.43% |
* Technology Sector Average
AEVA
Aeva Technologies
13.05
5.72
78.04%
CVGI
Commercial Vehicle Group
3.99
3.05
325.37%
INVZ
Innoviz Technologies
0.65
0.07
12.85%
LIDR
AEye Inc
1.58
0.95
150.79%
SES
SES AI Corporation Class A
0.96
0.32
50.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.