KOMP - Why Is EHang Holdings Stock Rising Premarket Monday? | Benzinga
EHang Holdings Limited (NASDAQ:EH) shares are trading higher after it reported first-quarter FY24 results.
Revenue increased 178.0% Y/Y to RMB61.7 million. In USD terms, revenue of $8.5 million beat the consensus of $6.9 million. Revenue benefitted from demand for the proprietary EH216 pilotless eVTOL vehicles.
Adjusted operating loss came in at RMB(12.6) million ($(1.7) million), an improvement of 63.4% Y/Y in the quarter. The company achieved positive operating cash flow in the quarter.
The company disclosed sales and deliveries of 26 units of EH216 series products in the first quarter of FY24, which more than doubled to ...