Eve Holding Inc (NYSE: EVEX) is an urban air mobility company developing electric vertical takeoff and landing aircraft, air traffic management software, and fleet operations services. The company has not generated product revenue as of FY2025 and is pre-commercial, funded through equity issuances, warrant exercises, and financing arrangements including agreements with BNDES and Bradesco BBI. Eve is a spinout from Embraer, with its common stock listed on the NYSE beginning May 10, 2022 following a business combination. The company is pursuing type certification from Brazil's ANAC, the FAA, and EASA. Its three business segments are eVTOL design and production, Service and Operations Solutions for fleet support and maintenance, and Urban Air Traffic Management software. Competitors include Archer Aviation (NYSE: ACHR), Joby Aviation (NYSE: JOBY), Vertical Aerospace (NYSE: EVTL), EHang (Nasdaq: EH), Airbus, Bell Textron, Honda, and Hyundai. As of December 31, 2025, Eve's partner network spans technology, renewable energy, vertiport, and financing partners across multiple continents.

Revenue model

Eve is pre-revenue as of FY2025. Future revenue is described in the 10-K (filed 2026-03-16) as directly tied to development of the UAM market. Planned revenue streams include eVTOL aircraft sales, Service and Operations Solutions fees, and Urban Air Traffic Management software licensing. The company has funded operations through equity issuances, warrant exercises, and debt financing from BNDES.

Products and services

Eve's core product is a lift-plus-cruise eVTOL aircraft featuring eight lift rotors and a separate forward propulsion system with a fixed wing, designed for intra-city and intra-metro missions. The company is also developing Service and Operations Solutions covering fleet maintenance and support, and an Urban Air Traffic Management (UATM) software system for managing piloted passenger-carrying air traffic.

Customers and end markets

Target end markets are urban air mobility operators, airlines, and vertiport operators seeking passenger-carrying air transportation services. No customer revenue was reported in FY2025. Key financing and strategic partners include Embraer Aircraft Holding, BNDES Participações (BNDESPAR), and Banco Bradesco BBI, as disclosed in 8-K filings dated August 15, 2025.

Value-chain role

Eve occupies a vertically integrated role in the UAM value chain: aircraft designer and manufacturer, fleet operations and maintenance service provider, and air traffic management software developer. As of December 31, 2025, partner relationships cover technology (BAE Systems, Thales Group), renewable energy (Florida Power and Light), vertiports (Heathrow Airport, London City Airport, Rio de Janeiro International, Skyports, and others), and financing (BNDES, Bradesco BBI).

Geographic exposure

Eve has operational and regulatory exposure in Brazil (ANAC certification, BNDES financing, Brazilian real currency risk) and international exposure through certification pursuits with the FAA (United States) and EASA (European Union). Vertiport partners are located in the United Kingdom, United States, Brazil, and other markets as of December 31, 2025.

Competitors

Archer Aviation (NYSE: ACHR), Joby Aviation (NYSE: JOBY), Vertical Aerospace (NYSE: EVTL), EHang (Nasdaq: EH), Volocopter, Wisk, Beta Technologies, Airbus, Bell Textron, Honda, Hyundai, The Boeing Company

Source: SEC 10-K, filed 2026-03-16

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