Monitor progress on certification milestones, particularly completion of Critical Design Review by end of 2026 and first conforming prototype flight in H2 2027. Cash runway through 2028 reduces near-term financing risk, but the widening net loss and high cash burn rate warrant attention to dilution risk if additional capital is needed.
How the stock moved after the report
NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 5 $1.57entry
- T+1 · 5d ago +17.83%α +17.52% · $1.85
- T+3 · todayOpen
- T+5 · tomorrow Pending
- T+20 · in 23d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Eve Holding reported a net loss of $58.1M in Q3 2026, wider than the $46.9M loss in Q3 2025, driven by higher R&D expenses. The company maintained its 2026 cash consumption guidance of $225M-$275M, with year-to-date consumption of $173.1M trending toward the low end. Cash and liquidity of $470.4M are expected to fund operations through 2028. The company also signed a binding agreement for up to 12 eVTOLs with FlyBIS.
Key Financial Metrics
Key Facts
- Net loss of $58.1M in Q3 2026 vs $46.9M in Q3 2025
- R&D expenses increased to $48.3M from $44.9M YoY
- SG&A decreased to $6.0M from $7.0M YoY
- Free cash flow (cash consumption) of $55.1M in Q3 2026 vs $60.7M in Q3 2025
- Cash, cash equivalents and financial investments of $356.0M at end of Q3 2026
- Total liquidity including undrawn BNDES credit lines and grant of $470.4M
- Full year 2026 cash consumption guidance maintained at $225M-$275M, trending toward low end
- Binding agreement with FlyBIS for up to 12 eVTOLs (2 firm orders, 10 purchase rights)
- Engineering prototype completed 73 flights, 91% of planned flight campaign checkpoints validated
- First flight of first conforming prototype expected in H2 2027
- Order pipeline of approximately 2,500 units with non-binding backlog value of ~$12.6 billion
Financial Impact
Net loss widened by $11.2M YoY to $58.1M; cash burn trending to low end of $225M-$275M guidance range
Risk Factors
- Pre-revenue company with no meaningful revenue expected during aircraft development phase
- Net loss widening YoY driven by increasing R&D expenses
- Cash consumption expected to remain high in upcoming quarters due to engineering engagement and supplier payments
- Non-binding LOI backlog of ~$12.6B is subject to change and not firm orders
- Certification timeline risks with ANAC, FAA, and EASA
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001554855-26-002304 |
| Document: evex-20261105.htm | 0001554855-26-002304 |
| Document: 0001554855-26-002304-index-headers.html | 0001554855-26-002304 |
| Document: 0001554855-26-002304-index.html | 0001554855-26-002304 |
| Document: 0001554855-26-002304.txt | 0001554855-26-002304 |
| 8-K Data (Synthetic) | 0001554855-26-002304 |
Track record
5 reports on EVEX
The track record builds as more bullish or bearish reports settle.
Filters
- Nov 9, 20261d ago 25-NSE Neutral 4/10 Entry $1.95 Now $1.99 +2.05% settles Nov 16
- Nov 5, 20265d ago 8-K Neutral 4/10 Viewing Entry $1.57 Now $1.99 +26.75% settles Nov 12
- Oct 26, 202615d ago 8-K Bearish 5/10 Entry $1.67 to $1.53 Now $1.99 −19.16% ▲ +8.38% +6.39% vs SPY
- Aug 4, 202614w ago 8-K Neutral 5/10 Entry $2.86 to $2.85 Now $1.99 −30.42% ▼ −0.35% −0.25% vs SPY
- Jun 11, 202621w ago Institutional Cluster Neutral 3/10 Entry $2.71 to $2.83 Now $1.99 −26.57% ▲ +4.43% +3.99% vs SPY
US Market Status
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