$AEVA
Aeva Technologies, Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022008578 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.137M $308.0K
YoY Change 269.16% -41.56%
Cost Of Revenue $1.375M $180.0K
YoY Change 663.89% -35.02%
Gross Profit -$238.0K $128.0K
YoY Change -285.94% -48.8%
Gross Profit Margin -20.93% 41.56%
Selling, General & Admin $8.520M $8.876M
YoY Change -4.01% 358.0%
% of Gross Profit 6934.38%
Research & Development $25.32M $11.38M
YoY Change 122.47% 114.33%
% of Gross Profit 8889.84%
Depreciation & Amortization $400.0K $200.0K
YoY Change 100.0% 0.0%
% of Gross Profit 156.25%
Operating Expenses $33.84M $20.26M
YoY Change 67.05% 179.49%
Operating Profit -$34.07M -$20.13M
YoY Change 69.29% 187.65%
Interest Expense -$351.0K $3.000K
YoY Change -11800.0% -99.82%
% of Operating Profit
Other Income/Expense, Net $633.0K $666.0K
YoY Change -4.95% -4017.65%
Pretax Income -$33.16M -$19.46M
YoY Change 70.4% 183.98%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$33.16M -$19.46M
YoY Change 70.4% 183.98%
Net Earnings / Revenue -2916.18% -6317.53%
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share -$153.5K -$118.7K
COMMON SHARES
Basic Shares Outstanding 216.0M 164.0M
Diluted Shares Outstanding 216.0M 164.0M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $414.5M $522.9M
YoY Change -20.73% 74596.71%
Cash & Equivalents $62.50M $469.4M
Short-Term Investments $352.0M $53.47M
Other Short-Term Assets $8.667M $2.043M
YoY Change 324.23% 1943.0%
Inventory $1.926M $1.529M
Prepaid Expenses $2.251M $919.0K
Receivables $211.0K $245.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $425.3M $526.7M
YoY Change -19.25% 65736.75%
LONG-TERM ASSETS
Property, Plant & Equipment $7.279M $2.281M
YoY Change 219.11%
Goodwill $0.00
YoY Change
Intangibles $4.200M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $860.0K $360.0K
YoY Change 138.89% -99.85%
Total Long-Term Assets $21.92M $8.775M
YoY Change 149.75% -96.39%
TOTAL ASSETS
Total Short-Term Assets $425.3M $526.7M
Total Long-Term Assets $21.92M $8.775M
Total Assets $447.2M $535.5M
YoY Change -16.48% 119.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.645M $2.576M
YoY Change 157.96%
Accrued Expenses $2.671M $1.840M
YoY Change 45.16% 1740.0%
Deferred Revenue $36.00K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.59M $6.357M
YoY Change 113.75% 6257.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.128M $7.195M
YoY Change -0.93%
Total Long-Term Liabilities $7.128M $7.195M
YoY Change -0.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.59M $6.357M
Total Long-Term Liabilities $7.128M $7.195M
Total Liabilities $20.72M $13.55M
YoY Change 52.86% 3288.0%
SHAREHOLDERS EQUITY
Retained Earnings -$196.1M -$80.54M
YoY Change 143.48%
Common Stock $625.6M $602.5M
YoY Change 3.83% 81971056.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $426.5M $521.9M
YoY Change
Total Liabilities & Shareholders Equity $447.2M $535.5M
YoY Change -16.48% 119.45%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$33.16M -$19.46M
YoY Change 70.4% 183.98%
Depreciation, Depletion And Amortization $400.0K $200.0K
YoY Change 100.0% 0.0%
Cash From Operating Activities -$26.54M -$14.80M
YoY Change 79.35% 159.01%
INVESTING ACTIVITIES
Capital Expenditures $1.283M $669.0K
YoY Change 91.78% 177.59%
Acquisitions
YoY Change
Other Investing Activities $23.32M -$53.50M
YoY Change -143.59% -77.85%
Cash From Investing Activities $22.04M -$54.17M
YoY Change -140.69% 22377.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 187.0K 513.7M
YoY Change -99.96% 10274840.0%
NET CHANGE
Cash From Operating Activities -26.54M -14.80M
Cash From Investing Activities 22.04M -54.17M
Cash From Financing Activities 187.0K 513.7M
Net Change In Cash -4.311M 444.8M
YoY Change -100.97% -7576.55%
FREE CASH FLOW
Cash From Operating Activities -$26.54M -$14.80M
Capital Expenditures $1.283M $669.0K
Free Cash Flow -$27.82M -$15.47M
YoY Change 79.88% 159.76%

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PaymentsToAcquirePropertyPlantAndEquipment
1283000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
669000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
82284000
CY2021Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
53501000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
105607000
CY2021Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
0
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
22040000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54170000
CY2022Q1 aeva Proceeds From Business Combination And Private Offering
ProceedsFromBusinessCombinationAndPrivateOffering
0
CY2021Q1 aeva Proceeds From Business Combination And Private Offering
ProceedsFromBusinessCombinationAndPrivateOffering
560777000
CY2022Q1 aeva Payments Of Merger And Private Offering Related Costs Financing Activities
PaymentsOfMergerAndPrivateOfferingRelatedCostsFinancingActivities
0
CY2021Q1 aeva Payments Of Merger And Private Offering Related Costs Financing Activities
PaymentsOfMergerAndPrivateOfferingRelatedCostsFinancingActivities
47228000
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1000
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
186000
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
198000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
187000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
513747000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-4311000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
444781000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66810000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24624000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62499000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
469405000
CY2022Q1 us-gaap Interest Paid
InterestPaid
0
CY2021Q1 us-gaap Interest Paid
InterestPaid
0
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2022Q1 aeva Changes In Purchases Of Property And Equipment Recorded In Accounts Payable And Accrued Liabilities
ChangesInPurchasesOfPropertyAndEquipmentRecordedInAccountsPayableAndAccruedLiabilities
1265000
CY2021Q1 aeva Changes In Purchases Of Property And Equipment Recorded In Accounts Payable And Accrued Liabilities
ChangesInPurchasesOfPropertyAndEquipmentRecordedInAccountsPayableAndAccruedLiabilities
215000
CY2022Q1 aeva Taxes Withheld On Net Settled Vesting Of Restricted Stock Units
TaxesWithheldOnNetSettledVestingOfRestrictedStockUnits
-244000
CY2021Q1 aeva Taxes Withheld On Net Settled Vesting Of Restricted Stock Units
TaxesWithheldOnNetSettledVestingOfRestrictedStockUnits
0
CY2022Q1 aeva Offering Costs Included In Accounts Payable And Accrued Liabilities
OfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
0
CY2021Q1 aeva Offering Costs Included In Accounts Payable And Accrued Liabilities
OfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
534000
CY2022Q1 aeva Noncash Or Part Noncash Acquisition Private Placement Of Warrants Acquired Value
NoncashOrPartNoncashAcquisitionPrivatePlacementOfWarrantsAcquiredValue
0
CY2021Q1 aeva Noncash Or Part Noncash Acquisition Private Placement Of Warrants Acquired Value
NoncashOrPartNoncashAcquisitionPrivatePlacementOfWarrantsAcquiredValue
3014000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4692000
CY2022Q1 aeva Non Cash Lease Adoption
NonCashLeaseAdoption
0
CY2021Q1 aeva Non Cash Lease Adoption
NonCashLeaseAdoption
1665000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-196100000
CY2022Q1 aeva Number Of Months Required To Fund Operating And Capital Expenditure
NumberOfMonthsRequiredToFundOperatingAndCapitalExpenditure
P12M
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.8pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:7.2pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities, and trade receivables. Risks associated with cash and cash equivalents are mitigated by banking with creditworthy institutions and the Company’s marketable securities having investment-grade ratings when purchased.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">The Company’s accounts receivable are derived from customers located in the United States, Asia, and Europe. The Company mitigates its credit risks by performing ongoing credit evaluations of its customers’ financial conditions and requires customer advance payments in certain circumstances. The Company generally does not require collateral.</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2022, </span><span style="font-size:9.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">four customers</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> accounted for </span><span style="font-size:9.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">83</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">% of the accounts receivable. As of December 31, 2021, </span><span style="font-size:9.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">one customer</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> accounted for </span><span style="font-size:9.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">90</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable. As of March 31, 2022, </span><span style="font-size:9.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">two vendors</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> accounted for </span><span style="font-size:9.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">33</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">% of accounts payable. As of December 31, 2021, </span><span style="font-size:9.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">two vendors</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;"> accounted for </span><span style="font-size:9.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">37</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">% of accounts payable.</span></p>
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.8pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use o</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:9.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">f Estimates</span></p><p style="text-indent:4.0%;font-size:10.0pt;margin-top:7.2pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include professional services revenue, valuation allowance for deferred tax assets, stock-based compensation, useful lives of property and equipment, useful lives of intangible assets, accrued liabilities, incremental borrowing rate for leases, and the valuation of the private warrants. The Company bases its estimates on historical experience and also on assumptions that it believes are reasonable. Actual results could differ from those estimates, and such differences could be material to the Company’s financial condition and results of operations.</span></p>
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1700000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1700000
CY2021Q1 aeva Deferred Rent Liability
DeferredRentLiability
100000
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
432000000
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
422000000
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q1 aeva Proceeds From Business Combination And Pipe Financing Before Offsetting
ProceedsFromBusinessCombinationAndPipeFinancingBeforeOffsetting
560800000
CY2022Q1 us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
47700000
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
47708000
CY2021Q1 aeva Business Combination Cash Acquired From Acquisition
BusinessCombinationCashAcquiredFromAcquisition
513069000
CY2021Q1 aeva Common Stock Outstanding Prior To Business Combination
CommonStockOutstandingPriorToBusinessCombination
24150000
CY2021Q1 aeva Number Of Share Redemption Of Ipv Share
NumberOfShareRedemptionOfIpvShare
-30874
CY2021Q1 aeva Adjustment To Common Stock Issued Shares
AdjustmentToCommonStockIssuedShares
24119126
CY2021Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
6905500
CY2021Q1 aeva Issuance Of Common Stock In Private Investment Public Equity Offering Shares
IssuanceOfCommonStockInPrivateInvestmentPublicEquityOfferingShares
28318478
CY2021Q1 aeva Business Combination And Pipe Shares
BusinessCombinationAndPipeShares
59343104
CY2021Q1 aeva Common Stock Shares Outstanding Prior To Conversion
CommonStockSharesOutstandingPriorToConversion
152066648
CY2021Q1 aeva Common Stock Share After Business Combination
CommonStockShareAfterBusinessCombination
211409752
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
211409752
CY2019 aeva Common Stock Shares
CommonStockShares
8031018
CY2019Q4 aeva Common Stock Shares Effected For Exchange Ratio
CommonStockSharesEffectedForExchangeRatio
72894258
CY2019Q4 aeva Recapitalization Applied To Convertible Preferred Stock Outstanding
RecapitalizationAppliedToConvertiblePreferredStockOutstanding
8606780
CY2019Q4 aeva Recapitalization Applied To Convertible Preferred Stock Outstanding Effected For Exchange Ratio
RecapitalizationAppliedToConvertiblePreferredStockOutstandingEffectedForExchangeRatio
78120214
CY2021Q1 aeva Common Stock Shares Effected For Exchange Ratio
CommonStockSharesEffectedForExchangeRatio
152066648
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1137000
CY2021Q4 us-gaap Cash
Cash
2765000
CY2021Q4 us-gaap Cash
Cash
2765000
CY2022Q1 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2021Q4 us-gaap Cash
Cash
2765000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
308000
CY2021Q1 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1137000
CY2022Q1 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
308000
CY2021Q1 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2022Q1 us-gaap Cash
Cash
10496000
CY2022Q1 us-gaap Cash
Cash
10496000
CY2022Q1 us-gaap Cash
Cash
10496000
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
417466000
CY2022Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
2979000
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
414487000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62499000
CY2022Q1 us-gaap Marketable Securities
MarketableSecurities
351988000
CY2022Q1 aeva Financial Liabilities Adjusted Cost
FinancialLiabilitiesAdjustedCost
426000
CY2022Q1 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
426000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
445534000
CY2021 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
524000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
445010000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66810000
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
378200000
CY2021Q4 aeva Financial Liabilities Adjusted Cost
FinancialLiabilitiesAdjustedCost
1060000
CY2021Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
1060000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1060000
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2021 aeva Fair Value Private Placement Warrant Liability Acquired
FairValuePrivatePlacementWarrantLiabilityAcquired
3014000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-634000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-1954000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
426000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1060000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7976000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3245000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2840000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7279000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5136000
CY2022Q1 us-gaap Depreciation
Depreciation
400000
CY2021Q1 us-gaap Depreciation
Depreciation
200000
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2251000
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2819000
CY2022Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4994000
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4069000
CY2022Q1 aeva Vendor Deposits Current
VendorDepositsCurrent
536000
CY2021Q4 aeva Vendor Deposits Current
VendorDepositsCurrent
1057000
CY2022Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
886000
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
1125000
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
8667000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
9070000
CY2021Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
182000
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
234000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
733000
CY2022Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
432000000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
422000000
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q1 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
1:1 basis
CY2022Q1 aeva Conversion Ratio
ConversionRatio
0.0907659
CY2022Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
67000
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
551000
CY2022Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
167000
CY2021Q1 aeva Convertible Preferred Stock Shares
ConvertiblePreferredStockShares
8606780
CY2021Q1 aeva Common Stock Shares Issued Upon Conversion
CommonStockSharesIssuedUponConversion
78120214
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-33157000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-19458000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-33157000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19458000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13858356
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.39
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M19D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
99406000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216017186
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163955593
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216017186
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
163955593
CY2022Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19616608
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18508834
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1029266
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.18
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
41791
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.46
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12787299
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.40
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M7D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
50210000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
9203992
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.36
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
36580000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12787299
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0.40
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y3M7D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
50210000
CY2022Q1 aeva Performance Based Restricted Stock Units Vesting Period
PerformanceBasedRestrictedStockUnitsVestingPeriod
P3Y
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5784000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4513000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-33157000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-19458000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-33157000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-19458000
CY2022Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
0
CY2022Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2021Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
0
CY2021Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 aeva Weighted Average Incremental Borrowing Rate
WeightedAverageIncrementalBorrowingRate
0.0525
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
CY2022Q1 us-gaap Short Term Lease Payments
ShortTermLeasePayments
29000
CY2021Q1 us-gaap Short Term Lease Payments
ShortTermLeasePayments
16000
CY2022Q1 us-gaap Variable Lease Payment
VariableLeasePayment
126000
CY2021Q1 us-gaap Variable Lease Payment
VariableLeasePayment
25000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2507000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
2977000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
2748000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
1969000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
290000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10491000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
860000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
9631000
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7279000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5136000

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