Revenue growth is accelerating and the Optical Connectivity segment opens a large TAM in AI data centers, but operating losses continue to widen on an absolute GAAP basis. Monitor the pace of Optical Connectivity revenue scaling and any additional hyperscaler customer wins in coming quarters.
How the stock moved after the report
NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 4 $9.19entry
- T+1 · 3d ago +19.70%α +19.38% · $11.00
- T+2 · todayOpen
- T+5 · in 3d Pending
- T+20 · in 25d Pending
- T+60 · in 3mo Pending
Price Chart
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Executive Summary
Aeva reported Q3 2026 revenue of $6.7M, up 86% YoY from $3.6M, a new record. Non-GAAP net loss per share was $0.39, narrower than the $0.46 loss in Q3 2025. The company highlighted first revenues in Optical Connectivity, a multi-thousand sensor order from Micro-Epsilon, and selection by the US Air Force and Navy for airborne autonomy development. Operating cash burn improved to $87.4M for the nine months vs $92.9M a year ago, and total available liquidity stood at $272.5M.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $6.7M, up 86% from $3.6M in Q3 2025
- GAAP operating loss widened to $39.1M from $33.2M; non-GAAP operating loss was $27.7M vs $27.2M
- Non-GAAP net loss per share of $0.39 improved from $0.46 in Q3 2025
- First revenues in Optical Connectivity with UHP chipset deliveries to JDA customer
- Micro-Epsilon multi-year supply agreement with initial multi-thousand sensor order
- US Air Force and US Navy selected Aeva for joint development of airborne autonomy
- Total available liquidity of $272.5M as of September 30, 2026
- Weighted basic shares outstanding of 69.6M, up from 57.9M a year ago
Financial Impact
Revenue grew 86% YoY to $6.7M, above the $6.4M consensus. Non-GAAP EPS of -$0.39 beat the -$0.43 consensus. Operating cash burn for nine months was $87.4M, slightly improved from $92.9M.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Product | $3.5M | +106.5% |
| Professional service | $3.2M | +68.1% |
Risk Factors
- GAAP operating loss widened to $39.1M from $33.2M YoY
- Cash used in operations was $87.4M for nine months, though improved from $92.9M
- Company is pre-profitability with accumulated deficit of $867.4M
- Diluted share count grew to 71.8M from 61.1M a year ago due to equity offerings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-447222 |
| Document: aeva-20261104.htm | 0001193125-26-447222 |
| Document: 0001193125-26-447222-index-headers.html | 0001193125-26-447222 |
| Document: 0001193125-26-447222-index.html | 0001193125-26-447222 |
| Document: 0001193125-26-447222.txt | 0001193125-26-447222 |
| 8-K Data (Synthetic) | 0001193125-26-447222 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 6, 2026 1d ago | Insider Cluster | $9.85 | awaiting T+60 | awaiting T+60 | $11.00 (−11.68%) |
Nov 4, 2026 3d ago | 8-K | $9.19 | awaiting T+60 | awaiting T+60 | $11.00 (+19.70%) |
Aug 20, 2026 11w ago | Insider Cluster | $18.29 | awaiting T+60 | awaiting T+60 | $11.00 (+39.86%) |
Aug 14, 2026 12w ago | Insider Cluster | $23.75 | awaiting T+60 | awaiting T+60 | $11.00 (+53.68%) |
Aug 12, 2026 12w ago | Insider Cluster | $22.42 $11.00 | ▲ +50.94% | ▲ +45.46% | $11.00 (+50.94%) |
Aug 8, 2026 13w ago | Institutional Cluster | $23.69 $8.94 | ▼ −62.26% | ▼ −59.85% | $11.00 (−53.57%) |
Jul 29, 2026 14w ago | Insider Cluster | $16.46 $10.17 | ▼ −38.21% | ▼ −40.68% | $11.00 (−33.17%) |
Jul 10, 2026 17w ago | Insider Cluster | $18.81 $14.57 | ▼ −22.54% | ▼ −26.54% | $11.00 (−41.52%) |
Jun 4, 2026 22w ago | 8-K | $23.01 $15.66 | ▲ +31.94% | ▲ +35.94% | $11.00 (+52.19%) |
Jun 4, 2026 22w ago | 424B5 | $23.01 $15.66 | ▲ +31.94% | ▲ +35.94% | $11.00 (+52.19%) |
US Market Status
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