$AEVA
Aeva Technologies, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022015634 Filed on August 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.374M $1.493M $1.137M
YoY Change -60.55% -42.6% 269.16%
Cost Of Revenue $2.765M $991.0K $1.375M
YoY Change 20.17% -30.31% 663.89%
Gross Profit -$1.391M $502.0K -$238.0K
YoY Change -217.68% -57.42% -285.94%
Gross Profit Margin -101.24% 33.62% -20.93%
Selling, General & Admin $10.29M $10.25M $8.520M
YoY Change 34.29% 42.68% -4.01%
% of Gross Profit 2041.63%
Research & Development $26.12M $25.94M $25.32M
YoY Change 24.94% 38.47% 122.47%
% of Gross Profit 5166.93%
Depreciation & Amortization $600.0K $600.0K $400.0K
YoY Change 100.0% 100.0% 100.0%
% of Gross Profit 119.52%
Operating Expenses $36.41M $36.19M $33.84M
YoY Change 27.45% 39.64% 67.05%
Operating Profit -$37.80M -$35.69M -$34.07M
YoY Change 38.03% 44.26% 69.29%
Interest Expense $1.029M $433.0K -$351.0K
YoY Change 764.71% 308.49% -11800.0%
% of Operating Profit
Other Income/Expense, Net $135.0K $128.0K $633.0K
YoY Change -79.64% -77.02% -4.95%
Pretax Income -$36.50M -$34.97M -$33.16M
YoY Change 37.2% 45.27% 70.4%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$36.50M -$34.97M -$33.16M
YoY Change 37.2% 45.27% 70.4%
Net Earnings / Revenue -2656.7% -2342.33% -2916.18%
Basic Earnings Per Share -$0.17 -$0.16 -$0.15
Diluted Earnings Per Share -$0.17 -$0.16 -$153.5K
COMMON SHARES
Basic Shares Outstanding 217.8M 216.9M 216.0M
Diluted Shares Outstanding 217.9M 216.9M 216.0M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $350.8M $378.9M $414.5M
YoY Change -26.56% -24.6% -20.73%
Cash & Equivalents $117.9M $83.05M $62.50M
Short-Term Investments $232.9M $295.9M $352.0M
Other Short-Term Assets $9.685M $12.30M $8.667M
YoY Change 14.52% 80.54% 324.23%
Inventory $1.513M $1.854M $1.926M
Prepaid Expenses $3.697M $4.478M $2.251M
Receivables $3.387M $353.0K $211.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $365.4M $393.4M $425.3M
YoY Change -25.53% -23.25% -19.25%
LONG-TERM ASSETS
Property, Plant & Equipment $9.376M $8.520M $7.279M
YoY Change 149.69% 239.31% 219.11%
Goodwill
YoY Change
Intangibles $3.750M $3.975M $4.200M
YoY Change
Long-Term Investments
YoY Change
Other Assets $863.0K $860.0K $860.0K
YoY Change 0.94% 138.89% 138.89%
Total Long-Term Assets $22.13M $22.22M $21.92M
YoY Change 41.92% 156.96% 149.75%
TOTAL ASSETS
Total Short-Term Assets $365.4M $393.4M $425.3M
Total Long-Term Assets $22.13M $22.22M $21.92M
Total Assets $387.5M $415.6M $447.2M
YoY Change -23.45% -20.26% -16.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.883M $4.501M $6.645M
YoY Change 14.1% 38.19% 157.96%
Accrued Expenses $4.045M $2.677M $2.671M
YoY Change 1.45% -61.63% 45.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.46M $12.49M $13.59M
YoY Change 11.1% -2.34% 113.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.535M $6.271M $7.128M
YoY Change -0.48% -0.93%
Total Long-Term Liabilities $5.535M $6.271M $7.128M
YoY Change -0.48% -0.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.46M $12.49M $13.59M
Total Long-Term Liabilities $5.535M $6.271M $7.128M
Total Liabilities $22.00M $18.76M $20.72M
YoY Change -8.81% -1.72% 52.86%
SHAREHOLDERS EQUITY
Retained Earnings -$267.6M -$231.1M -$196.1M
YoY Change 103.96% 120.94% 143.48%
Common Stock $637.8M $631.9M $625.6M
YoY Change 3.97% 4.11% 3.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $365.5M $396.9M $426.5M
YoY Change
Total Liabilities & Shareholders Equity $387.5M $415.6M $447.2M
YoY Change -23.45% -20.26% -16.48%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$36.50M -$34.97M -$33.16M
YoY Change 37.2% 45.27% 70.4%
Depreciation, Depletion And Amortization $600.0K $600.0K $400.0K
YoY Change 100.0% 100.0% 100.0%
Cash From Operating Activities -$25.12M -$31.43M -$26.54M
YoY Change 8.45% 63.75% 79.35%
INVESTING ACTIVITIES
Capital Expenditures -$2.095M -$2.589M $1.283M
YoY Change 101.64% 385.74% 91.78%
Acquisitions
YoY Change
Other Investing Activities $62.19M $54.93M $23.32M
YoY Change -347.05% -118.77% -143.59%
Cash From Investing Activities $60.10M $52.34M $22.04M
YoY Change -329.26% -117.86% -140.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -138.0K -360.0K 187.0K
YoY Change -16.36% 271.13% -99.96%
NET CHANGE
Cash From Operating Activities -25.12M -31.43M -26.54M
Cash From Investing Activities 60.10M 52.34M 22.04M
Cash From Financing Activities -138.0K -360.0K 187.0K
Net Change In Cash 34.84M 20.55M -4.311M
YoY Change -170.32% -106.58% -100.97%
FREE CASH FLOW
Cash From Operating Activities -$25.12M -$31.43M -$26.54M
Capital Expenditures -$2.095M -$2.589M $1.283M
Free Cash Flow -$23.03M -$28.84M -$27.82M
YoY Change 4.07% 54.55% 79.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
aeva Non Cash Lease Adoption
NonCashLeaseAdoption
aeva Fair Value Private Placement Warrant Liability Acquired
FairValuePrivatePlacementWarrantLiabilityAcquired
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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aeva Payments Of Merger And Private Offering Related Costs Financing Activities
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aeva Realized Loss On Available For Sale Securities
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dei Entity Central Index Key
EntityCentralIndexKey
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dei Current Fiscal Year End Date
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aeva Noncash Or Part Noncash Acquisition Private Placement Of Warrants Acquired Value
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false
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CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39204
dei Entity Registrant Name
EntityRegistrantName
AEVA TECHNOLOGIES, INC.
us-gaap Share Based Compensation
ShareBasedCompensation
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-3080757
dei Entity Address Address Line1
EntityAddressAddressLine1
555 Ellis Street
dei Entity Address City Or Town
EntityAddressCityOrTown
Mountain View
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94043
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
481-7070
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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dei Entity Filer Category
EntityFilerCategory
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EntitySmallBusiness
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CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
396888000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
26913000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4513000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
198000
CY2021Q1 aeva Business Combination And Pipe Financing Net Of Acquired Private Placement Warrant
BusinessCombinationAndPipeFinancingNetOfAcquiredPrivatePlacementWarrant
3014000
CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-29000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-19458000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
521917000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4009000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
162000
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-111000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-24073000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
502179000
us-gaap Profit Loss
ProfitLoss
-68128000
us-gaap Profit Loss
ProfitLoss
-43531000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1429000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
469000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-787000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1240000
us-gaap Share Based Compensation
ShareBasedCompensation
12218000
aeva Realized Loss On Available For Sale Securities
RealizedLossOnAvailableForSaleSecurities
-29000
aeva Amortization Of Premium On Available For Sale Securities
AmortizationOfPremiumOnAvailableForSaleSecurities
636000
aeva Noncash Or Part Noncash Acquisition Private Placement Of Warrants Acquired Value
NoncashOrPartNoncashAcquisitionPrivatePlacementOfWarrantsAcquiredValue
3014000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1988000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1397000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
296000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
528000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
3230000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
5028000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
296000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-359000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1905000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1788000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6332000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-30000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
182000
aeva Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-1404000
aeva Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-414000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-512000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
34000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3872000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1202000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
139714000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
366204000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
217968000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
20123000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
74382000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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aeva Proceeds From Business Combination And Private Offering
ProceedsFromBusinessCombinationAndPrivateOffering
560777000
aeva Payments Of Merger And Private Offering Related Costs Financing Activities
PaymentsOfMergerAndPrivateOfferingRelatedCostsFinancingActivities
47487000
aeva Payments Of Taxes Withheld On Net Settled Vesting Of Restricted Stock Unit
PaymentsOfTaxesWithheldOnNetSettledVestingOfRestrictedStockUnit
418000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
244000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
360000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-173000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
513650000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
16238000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
132375000
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
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83048000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156999000
us-gaap Interest Paid
InterestPaid
0
us-gaap Interest Paid
InterestPaid
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
aeva Changes In Purchases Of Property And Equipment Recorded In Accounts Payable And Accrued Liabilities
ChangesInPurchasesOfPropertyAndEquipmentRecordedInAccountsPayableAndAccruedLiabilities
491000
aeva Changes In Purchases Of Property And Equipment Recorded In Accounts Payable And Accrued Liabilities
ChangesInPurchasesOfPropertyAndEquipmentRecordedInAccountsPayableAndAccruedLiabilities
164000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4692000
aeva Non Cash Lease Adoption
NonCashLeaseAdoption
1665000
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-231100000
aeva Number Of Months Required To Fund Operating And Capital Expenditure
NumberOfMonthsRequiredToFundOperatingAndCapitalExpenditure
P12M
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 EMEA. 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 June 30, 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;">three 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;">67</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 June 30, 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;">one vendor</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;">10</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>
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, valuation of inventory, 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
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q2 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1493000
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
aeva Proceeds From Business Combination And Pipe Financing Before Offsetting
ProceedsFromBusinessCombinationAndPipeFinancingBeforeOffsetting
560800000
us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
47700000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
47708000
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
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1493000
CY2022Q2 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2601000
CY2022Q2 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2601000
CY2021Q2 aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2630000
aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2909000
aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2630000
aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2909000
aeva Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1
CY2022Q2 us-gaap Cash
Cash
4423000
CY2022Q2 us-gaap Cash
Cash
4423000
CY2022Q2 us-gaap Cash
Cash
4423000
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
382853000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
3929000
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
378924000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
83048000
CY2022Q2 us-gaap Marketable Securities
MarketableSecurities
295876000
CY2022Q2 aeva Financial Liabilities Adjusted Cost
FinancialLiabilitiesAdjustedCost
273000
CY2022Q2 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
273000
CY2021Q4 us-gaap Cash
Cash
2765000
CY2021Q4 us-gaap Cash
Cash
2765000
CY2021Q4 us-gaap Cash
Cash
2765000
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
CY2021 aeva Fair Value Private Placement Warrant Liability Acquired
FairValuePrivatePlacementWarrantLiabilityAcquired
3014000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-787000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-1954000
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
273000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1060000
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
4500000
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2022Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
26453000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M2D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
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us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
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us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
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us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
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CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
aeva Weighted Average Incremental Borrowing Rate
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CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
us-gaap Operating Lease Expense
OperatingLeaseExpense
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us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2022Q2 us-gaap Short Term Lease Payments
ShortTermLeasePayments
0
CY2021Q2 us-gaap Short Term Lease Payments
ShortTermLeasePayments
0
us-gaap Short Term Lease Payments
ShortTermLeasePayments
0
us-gaap Short Term Lease Payments
ShortTermLeasePayments
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CY2022Q2 us-gaap Variable Lease Payment
VariableLeasePayment
100000
CY2021Q2 us-gaap Variable Lease Payment
VariableLeasePayment
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us-gaap Variable Lease Payment
VariableLeasePayment
300000
us-gaap Variable Lease Payment
VariableLeasePayment
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1679000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
1969000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
290000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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740000
CY2022Q2 us-gaap Operating Lease Liability
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us-gaap Number Of Operating Segments
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1
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8520000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5136000

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