Pre-market up over 5%! EHang's Q3 revenue increased by 347.8% year-on-year, with EH216 series delivery reaching a quarterly high | Financial report insights

Thanks to the continuous increase in demand and delivery volume for the EH216-SeVTOL products, EHang, a low-altitude economy eVTOL technology company, saw a significant surge in revenue in the third quarter, with net losses narrowing year-on-year.

On Monday, before the U.S. stock market opened, EHang announced its third-quarter financial report:

• Revenue: In the third quarter, the company's revenue was 128 million yuan, a year-on-year increase of 347.8% and a quarter-on-quarter increase of 25.6%. Quarterly revenue reached a record high, significantly exceeding the market expectation of 119 million yuan.
• Profit: In the third quarter, the net loss was 48.1 million yuan, an improvement of 28.3% compared to the 67.1 million yuan loss in the third quarter of 2023, and an improvement of 32.8% compared to the 71.6 million yuan loss in the second quarter of 2024.
• Earnings per Share: Adjusted earnings per ADS were 0.22 yuan.

EHang's stock rose over 5% before the U.S. market opened.

EH216 Series Achieves Highest Quarterly Delivery Volume in History

The revenue growth is attributed to the continuous increase in demand and delivery volume for the EH216-SeVTOL products. In the third quarter, the sales and delivery volume of the EH216 series products reached 63 units, marking the highest quarterly delivery volume in the company's history, compared to 13 units in the third quarter of 2023 and 49 units in the second quarter of 2024.

Operating cash flow remained positive in the third quarter of 2024. This marks the company's fourth consecutive quarter of generating positive cash flow from operations.

The company's financial report stated that significant progress has been made in eVTOL sales and operations in emerging cities in China. The company is closely collaborating with customers and partners to establish urban air mobility demonstration projects in several cities in China, including Hefei, Guangzhou, Shenzhen, Taiyuan, Wencheng, and Zhuhai, to showcase eVTOL operations.

In Hefei, EHang collaborated with the Hefei municipal government to launch a new urban air mobility hub named "Ascend" in November at Luogang Park Central Park. This is the second EH216-S electric vertical takeoff and landing operation point in Hefei, following the establishment of the first urban air mobility operation center in May.

According to the Hefei municipal government's plan, over the next three years, more than 30 electric vertical takeoff and landing airports will be established in Hefei to create an urban air mobility passenger network for aerial sightseeing, multimodal transport, emergency response, and suburban travel