Aeva Technologies, Inc.
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the decisive operating question is open: will the program selections turn into a production contract? Per the 2025 annual report, no customer has signed yet. Red would require a documented threat to the company itself, and that is missing: $177.9 million of cash and marketable securities lasts roughly six quarters at the first-half 2026 burn rate, equity is positive ($27.5 million), and management affirms funding for twelve months. The distance to red is not large, though: that assurance also rests on the Sylebra facility that expires on November 8, 2026. If you wait, check the next quarterly report for what happened to the facility and whether a customer ordered in volume. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Aeva is a textbook case of the anchor trap: the stock sits about two-thirds below its May high, and that feels like a discount. The technology is distinct, the partner list long, and revenue doubled in 2025. But per the annual report there is no volume production contract yet, operations used $115.1 million in 2025, and funding leans heavily on one major holder whose funding pledge expires on November 8, 2026. Not investment advice.
Technology & partners
FMCW lidar on a silicon chip with per-point velocity measurement, about 296 issued patents (12/31/2025). Programs with Daimler Truck and a top-10 European carmaker, selection by Bendix, first industrial sensor with SICK per the earnings release of 08/05/2026.
Revenue & production readiness
2025 revenue doubled to $18.1 million, but per the 2025 10-K there is no volume production agreement yet. In Q2 2026, $3.6 million of $6.1 million came from services; product revenue fell from $4.2 million to $2.5 million.
Earnings power & cash burn
Operating loss 2025: $127.6 million, operating cash outflow $115.1 million; $57.0 million of outflow in H1 2026. Net income swings with warrant remeasurement (Q2 2026: −$44.7 million).
Liquidity
$177.9 million of cash and marketable securities (06/30/2026), roughly six quarters on our math. The twelve-month statement also relies on the $125 million Sylebra facility, which expires on 11/08/2026.
Capital structure & dependence
Sylebra is major holder (29.3 percent per 13D/A), noteholder, warrant holder and facility provider. 20.6 million potential new shares next to 69.7 million outstanding; offering of 5.17 million shares in June 2026.
Worth Noting
Aeva made our research list through our in-house Reddit hype scanner (2 mentions in 24 hours, rank 162, ApeWisdom, as of October 24, 2026).
Aeva was called InterPrivate Acquisition Corp. until the merger on 03/12/2021 (same CIK 0001789029). A 1-for-5 reverse split followed in March 2024; all share figures are adjusted. The Form 25 of 01/27/2025 belonged to the move from the NYSE to Nasdaq (8-K of 01/16/2025, Item 3.01); the one of 03/11/2026 covered only the expired warrants — neither concerned the stock.
Market value calculated by us: 69,705,758 shares (10-Q cover page, 07/30/2026) × $10.17 close (10/23/2026). Price cross-check against the offering price in the 424B5 prospectus supplement ($22.25, 06/03/2026); the gap is explained entirely by the decline in the share price since then.
The fourth quarter of 2025 in the quarterly chart is calculated as the full year (2025 10-K) minus the first nine months (10-Q for 09/30/2025).
Stock Watch
This analysis is as of October 24, 2026. Stock Watch will tell you what's changed at AEVA since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 9.20 $ to 29.30 $ · Last price: 9.30 $ (As of: October 30, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 10/30/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Aeva Technologies, Inc. AEVA | 0.7 | – | -0.1 | 27.2 | – | 99.4 | -42.6 |
| Microsoft Corporation MSFT | 3,808.5 | 32.2 | 17.6 | 67.7 | 46.3 | 14.9 | 0.1 |
| Palantir Technologies Inc. PLTR | 451.9 | 198.6 | 173.8 | 84.8 | 46.2 | 56.2 | -5.4 |
| Oracle Corporation ORCL | 377.8 | 21.8 | 14.5 | 64.0 | 36.2 | 17.4 | -48.5 |
| Palo Alto Networks Inc PANW | 298.2 | 289.2 | 223.5 | 70.4 | -2.5 | 14.9 | 67.6 |
| Crowdstrike Holdings Inc CRWD | 252.9 | – | 621.7 | 75.2 | -2.2 | 21.7 | 86.0 |
| Fortinet Inc FTNT | 98.0 | 47.8 | 32.4 | 79.8 | 31.3 | 14.2 | 61.6 |
| Cloudflare Inc NET | 96.7 | – | 2,840.5 | 72.6 | -9.7 | 29.9 | 26.2 |
| Synopsys Inc SNPS | 89.5 | 93.7 | 25.9 | 82.9 | 10.4 | 15.1 | 5.6 |
| Median of companies shown | 252.9 | 70.8 | 32.4 | 72.6 | 20.8 | 17.4 | 5.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2018 | 0 | -11 | -11 | -0.26 | -11 | 30 | 31 |
| 2019 | 1 | -20 | -20 | -0.46 | -16 | 0 | 0 |
| 2020 | 5 | -26 | -26 | -0.60 | -21 | 27 | 33 |
| 2021 | 9 | -104 | -102 | -2.53 | -82 | 456 | 479 |
| 2022 | 4 | -152 | -147 | -3.39 | -110 | 330 | 357 |
| 2023 | 4 | -148 | -149 | -3.29 | -119 | 228 | 257 |
| 2024 | 9 | -158 | -152 | -2.85 | -107 | 99 | 147 |
| 2025 | 18 | -128 | -145 | -2.55 | -115 | 13 | 180 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.67 | – | 3 | 67.30 | -1,340.70 | -21 | -23 |
| 2025: Q1 | -0.64 | – | 3 | 59.80 | -1,035.20 | -31 | -31 |
| 2025: Q2 | -3.51 | – | 6 | 173.90 | -3,497.40 | -30 | -31 |
| 2025: Q3 | 1.92 | – | 4 | 59.10 | 3,003.50 | -32 | -34 |
| 2025: Q4 | -0.44 | – | 6 | 108.50 | -450.30 | -22 | -24 |
| 2026: Q1 | -0.56 | – | 6 | 85.90 | -558.60 | -26 | -28 |
| 2026: Q2 | -1.23 | 65.00 | 6 | 10.90 | -1,304.90 | -31 | -31 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 12 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Momentum & Trend
- Above the 50- & 200-SMA
- Character Change (CC)
- High ADR (≥5%)
- Richard Moglen: Top Performers 3/6 Month
- Stan Weinstein: Stage 2
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -1.53 | -1.78 – -1.01 | 32 | 12.3% | 5 |
| 12/31/2027 | -1.61 | -1.87 – -1.40 | 73 | -4.8% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 24.10.2026 gegen die vier jüngsten Quartalsberichte (10-Q zum 30.06.2026, 31.03.2026, 30.09.2025 und 30.06.2025) und die beiden jüngsten Geschäftsberichte (10-K für 2025 und 2024) von Aeva Technologies: „artificial intelligence“, „machine learning“ und „AI“ kommen in keinem der sechs Berichte vor. Aeva verdient sein Geld mit LiDAR-Sensoren auf Basis der FMCW-Lasertechnik und mit Entwicklungsdienstleistungen für Autohersteller und Industriekunden; die mitgelieferte „perception software“ zur Objekterkennung wird in den Berichten nicht als KI beschrieben. Den Bezug zu KI-Rechenzentren (neues Geschäftsfeld „Optical Connectivity“) stellt Aeva bislang nur in Pressemitteilungen her (8-K-Anlagen vom 03.06. und 05.08.2026), die nach dem Kriterienkatalog nicht zählen. Damit „neutral“ (dokumentierter Negativ-Befund); bei der nächsten Fortschreibung ist zu prüfen, ob das Rechenzentrumsgeschäft in einem Periodenbericht als Umsatzquelle auftaucht.
View the full file — quotes, sources, reviewed filings
„Aeva is engaged in design, manufacturing and sale of LiDAR sensing systems and related perception and autonomy-enabling software solutions serving customers in automotive, industrial, and other markets."
Aeva ist in der Entwicklung, Herstellung und dem Verkauf von LiDAR-Sensorsystemen sowie zugehörigen Software-Lösungen für Wahrnehmung und Autonomie tätig und bedient Kunden in der Automobilindustrie, der Industrie und anderen Märkten.
10-Q · 2026-08-06 · View SEC filing
„Through our Frequency Modulated Continuous Wave (“FMCW”) sensing technology, we believe we are introducing the world’s first 4D LiDAR-on-chip that, along with our proprietary software applications, have the potential to enable the adoption of LiDAR across broad applications."
Mit unserer Sensortechnik auf Basis frequenzmodulierter Dauerstrich-Laser („FMCW“) führen wir nach unserer Überzeugung das weltweit erste 4D-LiDAR auf einem Chip ein, das zusammen mit unseren eigenen Software-Anwendungen den Einsatz von LiDAR in vielen Anwendungen ermöglichen kann.
10-K · 2026-03-20 · View SEC filing
Filings Reviewed: 10-Q 2026-08-06 · 10-Q 2026-05-08 · 10-Q 2025-11-07 · 10-Q 2025-08-06 · 10-K 2026-03-20 · 10-K 2025-03-21
Rated on October 24, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 62.8%
- More than 10% revenue growth is expected for the coming year 126.1%
- Share count grows by less than 3% a year 9.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -562.6%
- Gross margin at 40% or higher and without meaningful erosion -3.7%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 20 m net cash
- Operating cash flow covers the profits of the last three years 106 m
- Return on capital at 15% or higher, or up versus two years ago -88.7%
- Insiders hold at least 10% or are net buyers 18.8%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 100.3%
- Exp. sales growth 3Y > 5% 100.5%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 100.5%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -1,173.8%
- ROCE > 15% -88.7%
- Expected return > 10% 65.0%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Oct 29, 2026 | Maheshwari Rupesh | See Remarks | Other | 50,000 | 0.00 | – |
| Sep 2, 2026 | Sinha Saurabh | Chief Financial Officer | Sell | 34,146 | 14.83 | 506,409 |
| Aug 18, 2026 | Sinha Saurabh | Chief Financial Officer | Sell | 70,000 | 21.21 | 1,484,735 |
| Aug 12, 2026 | Motlagh Katherine | Director | Sell | 2,500 | 25.50 | 63,750 |
| Aug 11, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 14,297 | 24.54 | 350,847 |
| Aug 11, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 16,217 | 24.12 | 391,123 |
| Aug 10, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 5,495 | 25.56 | 140,444 |
| Aug 10, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 64,030 | 24.28 | 1,554,873 |
| Aug 10, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 149,961 | 23.87 | 3,579,449 |
| Aug 10, 2026 | Dardashti Soroush Salehian | Chief Executive Officer | Sell | 1,100 | 25.69 | 28,261 |
The company
About the Company
Aeva Technologies, Inc. beschäftigt sich mit dem Entwurf, der Herstellung und dem Verkauf von LiDAR-Sensorsystemen und zugehörigen Wahrnehmungs- und Autonomie-Softwarelösungen in Nordamerika, Europa, Ozeanien und Asien.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 239
- Headquarters
- Mountain View, CA
- Address
- 555 Ellis Street, 94043 Mountain View, United States
- Phone
- 650 481 7070
- Website
- aeva.com
- IPO Date
- 02/27/2020
- ISIN
- US00835Q2021
- Stock Split
- 1:5 on 03/19/2024
Management
| Name | Title | Birth Year |
|---|---|---|
| Mina Rezk | Co-Founder, President, CTO & Chairman of the Board | 1986 |
| Soroush Salehian Dardashti | Co-Founder, CEO & Director | 1990 |
| Rupesh Maheshwari | Interim CFO, VP & Corporate Controller | 1976 |
| Andrew Fung | Senior Director of Investor Relations & Corporate Development | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/05/2026 Aeva Technologies, Inc. (AEVA): Results of Operations and Financial Condition; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
Data as of: October 30, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.