Aeva Technologies, Inc.

aeva.ai

What Do They Do?

Sells LiDAR sensing systems and perception software to automotive and industrial customers.

How Do They Make Money?

Customers buy perception products directly or through distributors; product sales are tied to shipment or delivery, while custom engineering and development services generate revenue as the work progresses.

FY2025 revenue

Who Are Their Customers?

Works with automotive and industrial customers through strategic partnership and development agreements, and sells perception products to direct customers and distributors.

Customers above 10% of revenue, FY2025

of revenue from three customers (28%, 18%, 18%)

FY2023: 45% from two customers

Do Revenues Turn Into Profits?

No. It lost $145.4M in FY2025.

Operating income, FY2025

−706% of revenue

▼ −19% (Loss) vs FY2024 (−$158.4M, −1747%)

Net income, FY2025

−804% of revenue

▼ −4% (Loss) vs FY2024 (−$152.3M, −1680%)

Free cash flow, FY2025

−662% of revenue

▲ +7% (Loss) vs FY2024 (−$112M, −1236%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +11%; vs $5.5M in Q2 FY2025
Net income: ▼ −59% (Loss); vs −$192.7M in Q2 FY2025

Aug 5, 2026 Launches optical connectivity and announces CFO transition The CFO plans to resign, and an interim successor has been appointed; a customer agreement targets a hyperscaler deployment.

Growing. Revenue grew 95% in 4 years, from $9.3M in FY2021 to $18.1M in FY2025, about 18% a year.

Broader application list The latest report names smart infrastructure and robotics among the applications for Aeva's perception technology; the older report listed automated driving, industrial automation, consumer devices and security.

Comments