- EHang ( NASDAQ: EH ) is down 4% after the company's second quarter earnings results.
- Revenue of $2.2M (+15.8% Y/Y).
- Gross margin increased sequentially to 67.1% from 62.5% in Q1 2022.
- "Our unique and leading AAV products and solutions drove the increases in orders, pre-orders, deliveries and customers especially in domestic and Southeast Asia markets, bringing total revenues to an increase of up to 152.5% quarter-over-quarter and high quarterly gross margin of 67.1%," noted EHang’s Founder, Chairman and CEO Huazhi Hu.
- Adjusted operating loss during the quarter was $7.6M.
- Sales and deliveries of EHang 216 autonomous aerial vehicles were 8 units, representing an increase of 166.7% from 3 units in the first quarter of 2022.
- Non-GAAP EPADS of -$0.14.
- The company ended the quarter with cash, cash equivalents, restricted cash and short-term investments balance of $35.9M.
- Outlook: "We expect signs of business recovery in the second half year as we are actively adapting to the macro environment, continuing to move forward on EHang 216 certification, securing more product orders, and expanding our regional aerial media business in the Europe market. We remain confident in our growth potentials and long-term outlook given our core values and unique advantages," the company statement.
For further details see:
EHang slides after Q2 2022 earnings