# Aeva Technologies, Inc. (AEVA)

> Source: Nexqual · https://nexqual.com/AEVA · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Aeva Technologies, Inc. (AEVA), nexqual.com/AEVA" · informational, not investment advice.

**Price:** USD 9.94 (-7.02% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 10.69 · day 9.92–10.58 · 52w 8.83–31.3 · market cap $693M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $21.6M, net income -$32.4M (-150.1% margin), free cash flow -$117M (SEC filings).
- Analysts: Buy (mean 2.40 on a 1–5 scale) (5 analysts), mean target USD 29 (range 15–42).
- Total return with dividends: 1Y -31.8% vs S&P 500 +14.8%; 5Y -74.4% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD -0.43, revenue estimate $6.4M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: AEVA paid no cash dividend in the last five years.
- Short interest: 20.37% of float (as of 2026-10-15), 6.3 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.3M | $4.2M | $4.3M | $9.1M | $18.1M | $21.6M |
| Gross profit | $3.4M | -$4.3M | -$5.9M | -$3.8M | -$660K | — |
| Operating income | -$104M | -$152M | -$148M | -$158M | -$128M | -$132M |
| Net income | -$102M | -$147M | -$149M | -$152M | -$145M | -$32.4M |
| EPS (diluted) | -$2.55 | -$3.39 | -$3.29 | -$2.85 | -$2.55 | — |
| Free cash flow | -$86.0M | -$117M | -$125M | -$112M | -$120M | -$117M |
| Gross margin | 37.0% | -101.5% | -136.5% | -41.8% | -3.7% | — |
| Operating margin | -1124.5% | -3624.9% | -3427.4% | -1747.1% | -705.8% | -610.9% |
| Net margin | -1099.6% | -3514.0% | -3463.2% | -1679.7% | -804.4% | -150.1% |
| Revenue growth | +91.3% | -54.8% | +2.9% | +110.2% | +99.4% | — |
| Cash + short-term investments | $445M | $324M | $221M | $112M | $122M | — |
| Total debt | — | — | — | $0K | $96.7M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 32.1x · EV/Sales 28.3x · P/B 25.2x · FCF yield -16.84% · Earnings yield -4.68% · Net cash $81.0M · EV $612M

## Analysts
Consensus Buy (mean 2.40 on a 1–5 scale), 5 analysts; mean target USD 29 (low 15, high 42).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-24 | Goldman Sachs | Initiated | Neutral | $20 |
| 2026-08-07 | Morgan Stanley | Target raised | Equal-Weight | $18.5 → $27 |
| 2026-08-06 | Canaccord Genuity | Target raised | Buy | $24 → $26 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -31.8% | -74.4% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -31.9% | -23.8% |
| Volatility (annualized) | 113.1% | 103.8% |
| Max drawdown | -66.3% (May 2026→Oct 2026) | -95.2% (Nov 2021→Jul 2024) |

## Dividends
AEVA paid no cash dividend in the last five years.

## Short interest
9,797,814 shares sold short, 20.37% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 7,563,768 shares (+29.5%). Days to cover: 6.3 (short shares ÷ average daily volume).

## Peers (Software - Infrastructure)
BLSH (Bullish) USD 28.47 -0.90% · WIX (Wix.com Ltd.) USD 78.06 -0.64% · CORZ (Core Scientific, Inc.) USD 14.43 -3.80% · RELY (Remitly Global, Inc.) USD 24.64 +1.52% · TENB (Tenable Holdings, Inc.) USD 51.78 +6.28% · MBGL (Mobility Global Inc.) USD 18.92 +3.22%

## More
Full page: https://nexqual.com/AEVA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.43 | $-0.43 | $0.00 | $6.4M | 5 |
| Next quarter (ends 2026-12-31) | $-0.42 | $-0.41 | −$0.01 | $13.8M | 5 |
| Current fiscal year (ends 2026-12-31) | $-1.53 | $-1.69 | +$0.15 | $32.4M | 5 |
| Next fiscal year (ends 2027-12-31) | $-1.61 | $-1.54 | −$0.07 | $72.7M | 5 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.41 | −$0.43 | Beat +4.7% | — |
| — | Quarter ended Mar 31, 2026 | −$0.41 | −$0.43 | Beat +4.7% | — |
| — | Quarter ended Dec 31, 2025 | −$0.40 | −$0.44 | Beat +9.1% | — |
| — | Quarter ended Sep 30, 2025 | −$0.46 | −$0.45 | Miss −2.2% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).