- EHang Holdings Ltd (NASDAQ: EH) reported fourth-quarter FY22 revenues of RMB15.7 million ($2.3 million), an increase of 90.7% quarter-over-quarter, missing the consensus of $3.53 million.
- The gross margin remained flattish at 66.1%, compared with 65.9% in 3Q22.
- Adjusted loss per ADS of $(0.14) or RMB (1.02) missed the consensus loss of $(0.08).
- Adjusted operating loss was RMB(61.34) million or $(8.89) million, compared with RMB(52.85) million in 3Q.
- Adjusted operating expenses were RMB73.20 million ($10.61 million), compared with RMB59.67 million in the prior quarter.
- EH held cash and equivalents of RMB249.3 million ($36.1 million).
- Sales and deliveries of EHang 216 AAVs were six units versus four units in Q3.
- Mr. Huazhi Hu, EHang's Founder, Chairman, and CEO, said, "2022 was a challenging year with uncertainties, but we focused on executing our strategies and made positive progress in EH216-S type certification with the CAAC, alongside significant market expansion in China and other Asian countries, laying a solid foundation for our upcoming post-certification entry into the market and commercial operations with our cutting-edge AAV products and UAM solutions."
- "In 2023, we are getting well positioned to leverage China's tourism and economic recovery, growing market demands, and our imminent inflection point into commercialization with keen anticipation for obtaining the world's first autonomous eVTOL type certificate to unlock an exciting new era of the UAM industry that EHang is leading."
- Price Action: EH shares traded lower by 0.64% at $9.30 premarket on the last check Wednesday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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