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Eve Holding Inc. (EVEX-2.57%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's ongoing development of Urban Air Mobility solutions, including electric vertical take-off and landing vehicles (eVTOLs), service and support operations, and an Urban Air Traffic Management system.
Eve Holding reported a net loss of $138.2 million for the year, compared to a net loss of $127.7 million in the previous year. The increase in loss is attributed to higher research and development expenses as the company progresses with its eVTOL development.
Research and development expenses rose to $129.8 million from $105.6 million, driven by increased engineering activities and prototype testing.
The company has not generated any revenue to date and anticipates requiring substantial additional capital to fund its operations until commercial launch.
During the year, Eve Holding secured financing agreements, including a $50 million credit agreement with Citibank and a loan agreement with BNDES for $32.3 million to support eVTOL development.
Eve Holding's initial order pipeline includes approximately 2,800 eVTOLs valued at $14 billion, based on non-binding agreements with launch customers.
The company plans to market its eVTOLs globally to operators of UAM services and is engaged in various market development initiatives to support the Urban Air Mobility ecosystem.
Eve Holding's stock is traded on the New York Stock Exchange under the symbol 'EVEX'. As of March 11, 2025, the company had 297,644,298 shares of common stock issued and outstanding.
The filing also outlines risks associated with the UAM market, including regulatory challenges, competition, and the need for technological advancements.
Eve Holding continues to collaborate with Embraer S.A. and other strategic partners to leverage expertise and resources in the development and commercialization of its UAM solutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eve Holding Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.