AEVA Nasdaq Motor Vehicle Parts & Accessories Financials FY2019βFY2025
Aeva Technologies, Inc. had $18.1M of revenue in fiscal 2025, up 99.4% on the year before. Over five years, revenue changed +30.1% a year on average.
Last close Β· Oct 23, 2026
$10.17
2.9%Hi! I read Aeva Technologies, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+99.4%
Yes. Sales grew 99.4% last year.
Does it make a profit?
β804.4%
No. It lost money last year.
Does profit turn into cash?
β662.0%
No. It spent more cash than it brought in.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Aeva Technologies, Inc. had $18.1M of revenue in fiscal 2025, up 99.4% on the year before. Over five years, revenue changed +30.1% a year on average. Its operating margin was β705.8%, up 1,041.3Β pts: of every 100 in sales, about β706 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Aeva Technologies, Inc. lost $145M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$120M in fiscal 2025, β662.0% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $55.6M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$55.6M
5 insiders
Of sales under plans
63%
$35.1M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Saurabh SinhaChief Financial Officer | Sold | 34,146 | $14.83 | $0.5M | Form 4 |
| Aug 18, 2026 | Saurabh SinhaChief Financial Officer | Sold plan | 70,000 | $21.21 | $1.5M | Form 4 |
| Aug 12, 2026 | Katherine MotlaghDirector | Sold | 2,500 | $25.50 | $0.1M | Form 4 |
| Aug 11, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold plan | 30,514 | $24.32 | $0.7M | Form 4 |
| Aug 10, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold plan | 274,585 | $24.03 | $6.6M | Form 4 |
| Aug 10, 2026 | Mina RezkChief Technology Officer, Director | Sold plan | 100,000 | $24.01 | $2.4M | Form 4 |
| Jul 27, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 10,304 | $15.40 | $0.2M | Form 4 |
| Jul 27, 2026 | Mina RezkChief Technology Officer, Director | Sold | 10,304 | $15.40 | $0.2M | Form 4 |
| Jul 27, 2026 | Saurabh SinhaChief Financial Officer | Sold | 6,830 | $15.40 | $0.1M | Form 4 |
| Jul 8, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 64,821 | $21.16 | $1.4M | Form 4 |
| Jul 8, 2026 | Saurabh SinhaChief Financial Officer | Sold | 20,620 | $21.16 | $0.4M | Form 4 |
| Jul 8, 2026 | Mina RezkChief Technology Officer, Director | Sold | 64,821 | $21.16 | $1.4M | Form 4 |
| Jul 2, 2026 | Saurabh SinhaChief Financial Officer | Sold | 11,212 | $26.75 | $0.3M | Form 4 |
| Jun 22, 2026 | Stephen Paul ZadeskyDirector | Sold plan | 2,984 | $25.41 | $0.1M | Form 4 |
| Jun 16, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold plan | 275,349 | $24.57 | $6.8M | Form 4 |
| Jun 16, 2026 | Mina RezkChief Technology Officer, Director | Sold plan | 350,000 | $24.57 | $8.6M | Form 4 |
| May 5, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 41,083 | $15.04 | $0.6M | Form 4 |
| May 5, 2026 | Saurabh SinhaChief Financial Officer | Sold | 5,643 | $15.04 | $0.1M | Form 4 |
| May 5, 2026 | Mina RezkChief Technology Officer, Director | Sold | 27,389 | $15.04 | $0.4M | Form 4 |
| Mar 3, 2026 | Saurabh SinhaChief Financial Officer | Sold | 32,079 | $13.94 | $0.4M | Form 4 |
| Jan 15, 2026 | Saurabh SinhaChief Financial Officer | Sold plan | 60,000 | $20.65 | $1.2M | Form 4 |
| Jan 9, 2026 | Saurabh SinhaChief Financial Officer | Sold | 20,609 | $18.85 | $0.4M | Form 4 |
| Jan 9, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 64,787 | $18.85 | $1.2M | Form 4 |
| Jan 9, 2026 | Mina RezkChief Technology Officer, Director | Sold | 64,787 | $18.85 | $1.2M | Form 4 |
| Jan 2, 2026 | Saurabh SinhaChief Financial Officer | Sold | 12,147 | $12.96 | $0.2M | Form 4 |
| Jan 2, 2026 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 488,160 | $12.96 | $6.3M | Form 4 |
| Jan 2, 2026 | Mina RezkChief Technology Officer, Director | Sold | 321,723 | $12.96 | $4.2M | Form 4 |
| Nov 19, 2025 | Saurabh SinhaChief Financial Officer | Sold plan | 48,086 | $9.97 | $0.5M | Form 4 |
| Nov 10, 2025 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold plan | 250,000 | $13.45 | $3.4M | Form 4 |
| Nov 10, 2025 | Mina RezkChief Technology Officer, Director | Sold plan | 250,000 | $13.45 | $3.4M | Form 4 |
| Nov 5, 2025 | Soroush Salehian DardashtiChief Executive Officer, Director | Sold | 39,702 | $13.64 | $0.5M | Form 4 |
| Nov 5, 2025 | Saurabh SinhaChief Financial Officer | Sold | 5,454 | $13.64 | $0.1M | Form 4 |
| Nov 5, 2025 | Mina RezkChief Technology Officer, Director | Sold | 26,468 | $13.64 | $0.4M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Aeva Technologies, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $445M | $324M | $221M | $112M | $122M |
| Current ratio | 32.1x | 15.4x | 12.5x | 3.1x | 4.3x |
| Quick ratio | 31.9x | 15.2x | 12.3x | 3.1x | 4.1x |
| Total assets | $479M | $357M | $257M | $147M | $180M |
| Total liabilities | $22.8M | $26.7M | $28.9M | $48.1M | $166M |
| Shareholders' equity | $456M | $330M | $228M | $99.4M | $13.2M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Aeva Technologies, Inc. passes 5 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 3 / 8 | 2 / 8 | 2 / 8 | 3 / 8 | 5 / 8 |
| Accruals ratio | β3,002.8% | β26.5% | β7.7% | β8.9% | β9.9% | β22.4% | β18.6% |
| Altman Z'' | β644.26 | β1.38 | 24.52 | 13.04 | 3.98 | β14.83 | β14.13 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $1.4M | $4.8M | $9.3M | $4.2M | $4.3M | $9.1M | $18.1M |
| Gross profit | $0.6M | $2.1M | $3.4M | β$4.3M | β$5.9M | β$3.8M | β$0.7M |
| Research and development | $15.4M | $20.5M | $74.8M | $110M | $103M | $103M | $85.4M |
| Operating income | β$20.1M | β$25.7M | β$104M | β$152M | β$148M | β$158M | β$128M |
| Pretax income | β$19.6M | β$25.6M | β$102M | β$147M | β$149M | β$152M | β$145M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.2M | $0.3M |
| Net income | β$19.6M | β$25.6M | β$102M | β$147M | β$149M | β$152M | β$145M |
| Net income to common | β$19.6M | β$25.6M | β$102M | β$147M | β$149M | β$152M | β$145M |
| Diluted EPS | β$0.17 | β$0.18 | β$0.51 | β$3.39 | β$3.29 | β$2.85 | β$2.55 |
| Diluted shares | 0.11B | 0.14B | 0.20B | 0.04B | 0.05B | 0.05B | 0.06B |
| Cash flow | |||||||
| Cash from operations | β$16.4M | β$21.2M | β$82.1M | β$110M | β$119M | β$107M | β$115M |
| Capital expenditure | $0.4M | $0.9M | $3.9M | $7.4M | $6.1M | $5.1M | $4.6M |
| Free cash flow | β$16.8M | β$22.1M | β$86.0M | β$117M | β$125M | β$112M | β$120M |
| Depreciation and amortization | $0.6M | $0.8M | $1.1M | $3.3M | $4.6M | $5.5M | $5.4M |
| Stock-based compensation | $2.2M | $3.8M | $22.2M | $24.2M | $23.7M | $23.7M | $21.8M |
| Balance sheet | |||||||
| Cash and short-term investments | $46.6M | $24.6M | $445M | $324M | $221M | $112M | $122M |
| Current assets | $0.0M | $31.0M | $458M | $335M | $229M | $123M | $154M |
| Current liabilities | $0.1M | $5.7M | $14.3M | $21.8M | $18.4M | $39.2M | $35.9M |
| Inventory | β | $1.2M | $2.1M | $3.0M | $2.4M | $2.3M | $5.8M |
| Property and equipment, net | β | $1.6M | $5.1M | $9.7M | $12.1M | $10.3M | $12.8M |
| Intangible assets | β | $0.0M | $4.4M | $3.5M | $2.6M | $1.7M | $0.8M |
| Total assets | $0.1M | $32.6M | $479M | $357M | $257M | $147M | $180M |
| Total liabilities | $0.1M | $5.7M | $22.8M | $26.7M | $28.9M | $48.1M | $166M |
| Shareholders' equity | $48.6M | $26.9M | $456M | $330M | $228M | $99.4M | $13.2M |
| Margins | |||||||
| Gross margin | 41.1% | 43.4% | 37.0% | β101.5% | β136.5% | β41.8% | β3.7% |
| Operating margin | β1,451.8% | β531.5% | β1,124.5% | β3,624.9% | β3,427.4% | β1,747.1% | β705.8% |
| EBITDA margin | β1,406.0% | β515.0% | β1,112.1% | β3,547.0% | β3,320.2% | β1,686.6% | β676.0% |
| Net margin | β1,415.8% | β528.0% | β1,099.6% | β3,514.0% | β3,463.2% | β1,679.7% | β804.4% |
| FCF margin | β1,214.2% | β456.0% | β927.7% | β2,799.4% | β2,897.3% | β1,235.7% | β662.0% |
| Returns | |||||||
| Return on capital employed | β80,051.8% | β95.5% | β22.4% | β45.4% | β61.8% | β146.2% | β88.7% |
| Return on equity | β40.3% | β67.7% | β42.2% | β37.5% | β53.5% | β92.9% | β258.4% |
| Return on assets | β18,329.3% | β156.2% | β39.8% | β35.2% | β48.6% | β75.2% | β88.9% |
| Return on tangible equity | β40.3% | β95.0% | β22.5% | β45.1% | β66.1% | β156.0% | β1,173.8% |
| Growth | |||||||
| Revenue growth | β | 249.9% | 91.3% | β54.8% | 2.9% | 110.2% | 99.4% |
| Share count change | β | 23.3% | 41.7% | β78.4% | 4.5% | 17.5% | 6.9% |
| Financial health | |||||||
| Current ratio | 0.0x | 5.5x | 32.1x | 15.4x | 12.5x | 3.1x | 4.3x |
| Quick ratio | 0.0x | 5.2x | 31.9x | 15.2x | 12.3x | 3.1x | 4.1x |
| Capital allocation | |||||||
| Capex / revenue | 30.4% | 17.7% | 41.6% | 177.5% | 141.6% | 56.3% | 25.5% |
| Stock comp / revenue | 155.6% | 78.6% | 240.0% | 578.4% | 549.0% | 261.5% | 120.8% |
| Quality scores | |||||||
| Piotroski F-score | β | 4.0 | 3.0 | 2.0 | 2.0 | 3.0 | 5.0 |
| Altman Z'' | β644.3 | β1.4 | 24.5 | 13.0 | 4.0 | β14.8 | β14.1 |
| Accruals ratio | β3,002.8% | β26.5% | β7.7% | β8.9% | β9.9% | β22.4% | β18.6% |
Source: SEC EDGAR XBRL filings (CIK 0001789029). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
