Aeva Technologies 2025 Q3 Earnings Profitability Surges 387.5% Despite Mixed Market Reaction

Aeva Technologies (AEVA) reported Q3 2025 earnings on Nov 7, 2025, with revenue surpassing estimates and net income reversing to a profit. The results marked a significant turnaround but were accompanied by volatile stock performance and mixed investor sentiment.

Revenue

Aeva Technologies achieved total revenue of $3.58 million in Q3 2025, reflecting a 59.1% year-over-year increase from $2.25 million in Q3 2024. This growth was driven by higher unit sales and non-recurring engineering revenue. North America accounted for 86% of total revenue, with EMEA and APAC contributing 9% and 5%, respectively. The expansion in North America underscores the company’s strong regional market presence.

Earnings/Net Income

The company returned to profitability with net income of $107.50 million in Q3 2025, a 387.5% positive swing from a net loss of $37.40 million in the same period last year. This turnaround was primarily attributed to a gain on the settlement of share subscription liability and changes in the fair value of warrant liability. Earnings per share (EPS) improved to $1.86, compared to a loss of $0.70 per share in Q3 2024. The significant net income improvement highlights the company’s strategic financial adjustments, though it followed six consecutive years of quarterly losses in the period.

Post-Earnings Price Action Review

The strategy of buying Aeva Technologies shares on the date of its revenue raise announcement and holding for 30 days has shown poor performance over the past three years, with a cumulative return of -44.77%. Despite the positive revenue raise, the stock experienced a modest 0.93% increase on the day of the report but declined 4.9% over the following quarter. Market sentiment was further clouded by the CEO’s sale of 39,702 shares, potentially signaling short-term uncertainty, and a current ratio of 0.65, indicating liquidity concerns.

CEO Commentary

Soroush Salehian, Aeva’s CEO, highlighted the company’s progress in key areas during the earnings call. He emphasized the successful completion of a top 10 OEM development program ahead of schedule, positioning Aeva for a potential series production award. Salehian also noted advancements in the Daimler Truck program and the introduction of the EVE 1V motion sensor, expanding into the $4–6 billion manufacturing automation market. The CEO expressed optimism about the $100 million investment from Apollo Global Management, which bolstered pro forma liquidity to ~$270 million. His remarks reflected a cautiously optimistic tone, balancing near-term challenges with long-term growth opportunities.

Guidance

Aeva Technologies expects continued investment in product development and anticipates operating losses as it scales operations. The company aims to leverage third-party manufacturers to expand production capacity, aligning with its focus on meeting demand for the Atlas 40 LiDAR and precision sensing products. Forward-looking statements include a commitment to closing the top 10 OEM production program decision and advancing Daimler Truck’s 2027 market entry.

Additional News

1. Apollo Investment: Aeva secured a $100 million investment from Apollo Global Management, enhancing liquidity and supporting commercialization efforts.

2. CEO Share Sale: Soroush Salehian sold 39,702 shares, raising concerns about short-term confidence despite improved financials.

3. CTO Transaction: Mina Rezk, CTO, sold $360,930 in shares, following the vesting of restricted stock units, though indirect ownership remains substantial.