Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Aeva Technologies, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
1.38
4.84
9.27
4.19
4.31
9.07
18.1
Cost of revenue
0.82
2.74
5.83
8.45
10.2
12.9
18.7
Gross profit
0.57
2.1
3.43
-4.26
-5.89
-3.79
-0.66
Research and development
15.4
20.5
74.8
110
103
103
85.4
Selling and marketing
0.97
1.68
4.44
7.04
7.64
7.16
6.69
General and administrative
4.29
5.66
28.4
31.1
31.8
33.3
34.8
Operating expenses
20.7
27.8
108
148
142
155
127
Operating income
-20.1
-25.7
-104
-152
-148
-158
-128
Interest income
0.52
0.2
0.37
3.71
8.93
7.71
2.74
Other non-operating income
-0.02
-0.02
1.94
0.94
-3.79
0.06
-0.46
Pre-tax income
-19.6
-25.6
-102
-147
-149
-152
-145
Income tax
0
0
0
0
0
0.17
0.31
Net income to minority interests
1.38
Net income
-19.6
-25.6
-102
-147
-149
-152
-145
EBITDA
-19.5
-24.9
-103
-149
-143
-153
-122
EPS, basic
-0.85
-0.90
-2.54
-3.39
-3.29
-2.85
-2.55
EPS, diluted
-0.85
-0.90
-2.54
-3.39
-3.29
-2.85
-2.55
Shares, basic (weighted)
23.1
28.4
40.3
43.5
45.4
53.4
57
Shares, diluted (weighted)
23.1
28.4
40.3
43.5
45.4
53.4
57
Balance sheet
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
46.6
24.6
66.8
67.4
38.5
28.9
72.3
Short-term investments
0
378
256
182
83.1
49.6
Receivables
0.14
2.34
2.89
0.63
1.19
3.36
Inventory
1.22
2.06
2.95
2.37
2.35
5.79
Other current assets
4.97
9.07
5.47
5.2
7.76
22.5
Total current assets
0
31
458
335
229
123
154
Property, plant and equipment
1.61
5.14
9.72
12.1
10.3
12.8
Lease right-of-use assets
10.3
7.4
7.29
3.83
5.48
Intangible assets
0
4.43
3.53
2.63
1.73
0.83
Other non-current assets
0.06
0.86
0.86
6.13
8.31
7.03
Total assets
0.11
32.6
479
357
257
147
180
Accounts payable
2.07
4.39
5.18
3.6
5.45
5.89
Accrued liabilities
0
2.61
4.11
9.06
2.65
5.71
12.1
Deferred revenue
0.05
0
0
2.93
Total current liabilities
0.08
5.67
14.3
21.8
18.4
39.2
35.9
Lease liabilities
7.46
4.79
3.77
0.72
4.21
Other non-current liabilities
0.05
0
0
Total liabilities
0.08
5.72
22.8
26.7
28.9
48.1
166
Paid-in capital
0.03
7.93
620
644
688
711
771
Retained earnings
-0
-61.1
-163
-310
-460
-612
-757
Other comprehensive income
-0.52
-3.59
-0.09
0.05
-0
Shareholders' equity
48.6
26.9
456
330
228
99.4
13.2
Total equity
48.6
26.9
456
330
228
99.4
13.2
Total liabilities and equity
0.11
32.6
479
357
257
147
180
Shares outstanding
1.27
30.4
43.1
219
52.4
54.1
61.6
Cash flow statement
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-19.6
-25.6
-102
-147
-149
-152
-145
Depreciation and amortization
0.63
0.8
1.15
3.27
4.62
5.48
5.38
Stock-based compensation
2.15
3.81
22.2
24.2
23.7
23.7
21.8
Change in receivables
-0.37
0.23
-2.2
-0.55
2.26
-0.56
-2.54
Change in inventory
0.6
-0.87
-0.84
-2.55
0.35
-1.11
-3.94
Change in payables
0.17
1.36
2.67
1.29
-1.59
1.84
-0.5
Cash from operations
-16.4
-21.2
-82.1
-110
-119
-107
-115
Capital expenditures
-0.42
-0.86
-3.85
-7.44
-6.1
-5.11
-4.61
Purchases of investments
0
0
-572
-210
-152
-80
-75
Sales and maturities of investments
0
0
172
329
233
183
110
Cash from investing
-0.42
-0.86
-389
111
69.3
97.9
29.9
Stock issued
0.04
0.07
0.91
0.35
0.24
0.08
0.13
Cash from financing
36
0.07
513
-0.37
20.7
-0.67
129
Net change in cash
19.2
0
42.2
0.61
-28.9
-9.68
43.4
Free cash flow
-16.8
-22.1
-86
-117
-125
-112
-120
Interest paid
0
0
0
0
0
0
0
Income taxes paid
0
0
0
0
0
0.17
0.17
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $12.27 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
31.2%
Gross profit / revenue.
Operating margin
-558.6%
Operating income / revenue.
EBITDA margin
-539.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-547.5%
Pre-tax income / revenue.
Net margin
-548.7%
Net income / revenue.
FCF margin
-460.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-443.7%
Cash from operations / revenue.
Return on equity (ROE)
-313.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-66.8%
Net income / average total assets.
Return on invested capital (ROIC)
-471.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
386.6%
Research and development expense / revenue.
Stock-based pay / revenue
140.2%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
16.8%
Capital expenditures / revenue.
D&A / revenue
19.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
99.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
62.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
30.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-86.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-65.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-13.3%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
21.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-20.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
40.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
6.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
9.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
14.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
6.26x
Current assets / current liabilities.
Quick ratio
5.38x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
5.13x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.89
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.34
Revenue / diluted weighted shares.
FCF per share
-$1.58
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.53
Cash from operations / diluted weighted shares.
Book value per share
$0.62
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
34.6x
Market cap / revenue.
P/B
19.8x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
19.8x
Market cap / tangible book value, when positive.
EV/Sales
28.7x
Enterprise value / revenue.
FCF yield
-13.3%
Free cash flow / market cap.
Earnings yield
-15.8%
Net income / market cap (the inverse of P/E).
What was Aeva Technologies, Inc.'s revenue in fiscal 2025?
Aeva Technologies, Inc. reported revenue of $18.1M for fiscal 2025, 99.4% higher than the year before.
Was Aeva Technologies, Inc. profitable in fiscal 2025?
No. It reported a net loss of $145.4M.
How much free cash flow did Aeva Technologies, Inc. generate in fiscal 2025?
Cash from operations of $115.1M minus capital expenditures of $4.6M left free cash flow of -$119.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.