Ehang Holdings Ltd ( (EH) ) has released its Q3 earnings. Here is a breakdown of the information Ehang Holdings Ltd presented to its investors.
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EHang Holdings Ltd, a leading Urban Air Mobility (UAM) technology platform, specializes in unmanned aerial vehicle (UAV) systems, offering solutions in passenger transportation, logistics, and smart city management.
In its latest earnings report for the third quarter of 2024, EHang announced a record-high revenue increase of 347.8% year-over-year, alongside significant advancements in its eVTOL technology and market presence. The company also maintained positive operating cash flow for the fourth consecutive quarter and strengthened its liquidity with a strategic investment exceeding $22 million.
Key financial metrics included total quarterly revenue reaching RMB128.1 million, driven by record deliveries of 63 EH216 series units. The gross margin decreased slightly to 61.2%, while operating expenses rose due to expanded sales channels and increased share-based compensation. Notably, EHang achieved a quarterly adjusted operating income of RMB9.0 million and continued to improve its net loss position.
Strategically, EHang made strides in eVTOL sales in China, secured new orders from KC Smart Mobility and Sunriver, and expanded its international presence with flights in Brazil, Thailand, Japan, and the UAE. The company also reported a breakthrough in solid-state battery technology, enhancing the flight endurance of its EH216-S model.
Looking forward, EHang aims to continue advancing its eVTOL technologies, expand its production capacity, and develop long-range models to enhance its operations. The company remains committed to leveraging its strategic strengths to capture opportunities in the growing low-altitude economy, both domestically and internationally.