Overview
- Eve, Embraer's electric air-taxi unit, reported a first-quarter net loss of $68.8 million, up 41% from a year earlier.
- The company remains pre-operational with no material revenue expected during development, yet it holds about $13.5 billion in orders for roughly 2,700 aircraft.
- Research and development spending rose to about $59 million as prototype testing reached 59 flights totaling nearly two and a half hours, and the company plans to start building certification prototypes this year.
- Quarterly cash use totaled $68.6 million, and cash on hand reached $441.1 million at the end of March, the highest balance since the company’s founding.
- Total liquidity, including unused credit lines, stood at $577.7 million, which Eve says will fund the program through 2028.