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Form 8-K

sec.gov

8-K — Aeva Technologies, Inc.

Accession: 0001193125-26-209002

Filed: 2026-05-06

Period: 2026-05-06

CIK: 0001789029

SIC: 3714 (MOTOR VEHICLE PARTS & ACCESSORIES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — aeva-20260506.htm (Primary)

EX-99.1 (aeva-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: aeva-20260506.htm · Sequence: 1

8-K

false000178902900017890292026-05-062026-05-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 06, 2026

Aeva Technologies, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-39204

84-3080757

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

555 Ellis Street

Mountain View, California

94043

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 481-7070

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.0001 per share

AEVA

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 06, 2026, Aeva Technologies, Inc. (the “Company”) issued a press release announcing financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 2.02.

The information set forth in Item 2.02 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Description

99.1

Press Release dated May 06, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Aeva Technologies, Inc.

Date:

May 06, 2026

By:

/s/ Saurabh Sinha

Saurabh Sinha

Chief Financial Officer

EX-99.1

EX-99.1

Filename: aeva-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Aeva Reports First Quarter 2026 Results

Achieved New Record Quarterly Revenue with Growing Commercial Momentum

Key Milestones Achieved in Automotive and Commercial Vehicles with Production Intent Atlas Sensors Delivered to Daimler Truck and Atlas Ultra Integration with Top European Passenger OEM

Additional Commercial Deployments in Physical AI with Forterra in Defense, Aeva CityOS in ITS and Nikon in Factory Automation

MOUNTAIN VIEW, Calif., May 6, 2026 – Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced its first quarter 2026 results.

Key Company Highlights

Delivered production intent Atlas sensors to Daimler Truck, highlighting the maturity of Aeva’s technology and a major step to bringing the OEM’s autonomous trucks to production

Delivered first Atlas Ultra sensors to the Top 10 European passenger OEM for vehicle integration and AV stack development

Working with NVIDIA on integrating 4D LiDAR as the reference sensor for the DRIVE Hyperion platform used by leading OEMs and AV companies to enable L3 and higher automated driving

Growing in defense with Forterra expanding use of 4D LiDAR to another autonomous ground vehicle to leverage Aeva’s long-range, velocity and undetectability by night vision systems

Introduced CityOS, our full-stack AI-powered traffic management solution, which has already been selected for a large-scale award in Georgia with deployment underway

Nikon launched its APDIS MV5X laser radar system powered by Aeva’s Eve high-precision technology in a multi-year production agreement to use Aeva’s technology for automated robotic inspection in factories for automotive, aerospace and energy industries

Growing commercial momentum across automotive including L3 and high volume ADAS, and other physical AI applications such as defense and infrastructure

“Following record revenue in the previous quarter, Aeva in Q1 achieved another new record quarterly revenue, driven by increasing commercial deployments of our perception platform and successful execution of major development milestones for top automotive OEM production programs,” said Soroush Salehian, Co-founder and CEO at Aeva. “We also continued to advance on additional programs across automotive and other physical AI applications. With a growing list of opportunities, we are keenly focused on delivering on existing programs and scaling manufacturing to meeting more of the growing demand for Aeva’s unique technology.”

First Quarter 2026 Financial Highlights

Total Available Liquidity

o

Total available liquidity of $224.5 million as of March 31, 2026, consisting of $99.5 million in cash, cash equivalents and marketable securities and $125.0 million in an available facility

Revenue

o

Revenue of $6.3 million in Q1 2026, compared to revenue of $3.4 million in Q1 2025

GAAP and Non-GAAP Operating Loss*

o

GAAP operating loss of $35.1 million in Q1 2026, compared to GAAP operating loss of $30.4 million in Q1 2025

o

Non-GAAP operating loss of $25.8 million in Q1 2026, compared to non-GAAP operating loss of $25.9 million in Q1 2025

GAAP and Non-GAAP Net Loss per Share*

o

GAAP net loss per share of $0.56 in Q1 2026, compared to GAAP net loss per share of $0.64 in Q1 2025

o

Non-GAAP net loss per share of $0.41 in Q1 2026, compared to non-GAAP net loss per share of $0.45 in Q1 2025

Shares Outstanding

o

Weighted average shares outstanding of 62.8 million in Q1 2026

*Tables reconciling GAAP to non-GAAP measures are provided at the end of this release.

Conference Call Details

Aeva will host a conference call and live webcast to discuss results at 2:00 p.m. PT / 5:00 p.m. ET today, May 6, 2026. The live webcast and replay can be accessed at investors.aeva.com.

About Aeva Technologies, Inc. (Nasdaq: AEVA)

Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving, manufacturing automation and smart infrastructure, to robotics and consumer devices. Aeva is accelerating autonomy with its groundbreaking perception platform that integrates lidar-on-chip technology, system-on-chip processing, and perception algorithms onto silicon leveraging silicon photonics. Aeva 4D LiDAR sensors uniquely detect velocity and position simultaneously, allowing automated devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on X or LinkedIn.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Omni, Aeva CityOS, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

Forward looking statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements include, but are not limited to expectations about product development, product features, performance, the timing of production, and market adoption. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history, (iii) Aeva’s ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the timing of any orders for the Company’s solutions, which will not be under our control, (v) the risk that automotive OEMs may not pursue or adopt the platform as currently anticipated, if at all, (vi) the risk that markets will not accept products of automotive OEMs or of manufacturers in other industries that use our technologies,

(vii) supply chain and manufacturing issues, (vii) unforeseen errors or defects, (viii) market acceptance of LiDAR technology and autonomous driving, (ix) general economic conditions, including tariffs, and other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Quarterly Reports on Form 10-Q and our most recent Annual Report on Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.

Non-GAAP Information

In addition to our financial results determined in accordance with U.S. GAAP, we present non-GAAP operating loss and non-GAAP net loss per share. “Non-GAAP operating loss” is defined as GAAP operating loss before stock-based compensation. “Non-GAAP net loss per share” is defined as non-GAAP net loss divided by weighted average shares outstanding, basic and diluted. “Non-GAAP net loss” is defined as GAAP net loss before stock-based compensation and change in fair value of warrant liabilities.

We believe that non-GAAP operating loss and non-GAAP net loss per share, when taken together with the corresponding U.S. GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, results of operations, or outlook. We consider non-GAAP operating loss and non-GAAP net loss per share to be important measures because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis.

However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations, including that they exclude certain expenses that are required under GAAP, which adjustments reflect the exercise of judgment by management. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures or ratios differently or may use other financial measures or ratios to evaluate their performance, all of which could reduce the usefulness of non-GAAP operating loss and non-GAAP net loss per share as tools for comparison. Reconciliations are provided at the end of this release to the most directly comparable financial measures in accordance with U.S. GAAP. Investors are encouraged to review our U.S. GAAP financial measures and not to rely on any single financial measure to evaluate our business.

Contacts

Media:

Michael Oldenburg

press@aeva.ai

Investors:

Andrew Fung

investors@aeva.ai

AEVA TECHNOLOGIES, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

March 31,

2026

December 31,

2025

Assets

Current assets

Cash and cash equivalents

$

31,176

$

72,291

Marketable securities

68,328

49,608

Accounts receivable, net

3,454

3,363

Inventories

5,984

5,787

Other current assets

13,149

22,476

Total current assets

122,091

153,525

Operating lease right-of-use assets

4,919

5,480

Property, plant and equipment, net

13,244

12,845

Intangible assets, net

600

825

Other noncurrent assets

6,446

7,026

Total assets

$

147,300

$

179,701

Liabilities and stockholders’ equity

Current liabilities

Accounts payable

$

4,613

$

5,885

Accrued liabilities

11,944

12,063

Accrued employee costs

7,846

13,945

Lease liability, current portion

1,425

1,488

Other current liabilities

3,989

2,488

Total current liabilities

29,817

35,869

Lease liability, noncurrent portion

3,838

4,213

Convertible notes

96,793

96,693

Warrant liabilities

29,261

29,711

Total liabilities

159,709

166,486

Stockholders’ equity

Common stock

6

6

Additional paid-in capital

779,883

770,502

Accumulated other comprehensive loss

(30

)

(4

)

Accumulated deficit

(792,268

)

(757,289

)

Total stockholders’ equity (deficit)

(12,409

)

13,215

Total liabilities and stockholders’ equity

$

147,300

$

179,701

AEVA TECHNOLOGIES, INC.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except share and per share data)

Three Months Ended March 31,

2026

2025

Revenues:

Product

$

2,427

$

2,481

Professional service

3,835

887

Total revenues

6,262

3,368

Cost of revenues:

Product (1)

3,037

2,583

Professional service (1)

1,284

475

Total cost of revenues

4,321

3,058

Gross profit

1,941

310

Operating expenses:

Research and development expenses (1)

22,826

21,569

General and administrative expenses (1)

12,352

7,217

Selling and marketing expenses (1)

1,899

1,942

Total operating expenses

37,077

30,728

Loss from operation

(35,136

)

(30,418

)

Interest income

877

1,007

Change in fair value of warrant liabilities

450

(5,400

)

Interest expense

(1,183

)

Other income, net

45

1

Net loss before taxes

$

(34,947

)

$

(34,810

)

Income tax provision

32

57

Net loss

$

(34,979

)

$

(34,867

)

Net loss per share

Basic

$

(0.56

)

$

(0.64

)

Diluted

$

(0.56

)

$

(0.64

)

Weighted-average shares used in computing net loss per share

Basic

62,808,102

54,750,088

Diluted

62,808,102

54,750,088

(1) Includes stock-based compensation as follows:

Three Months Ended March 31,

2026

2025

Cost of revenues

$

231

$

31

Research and development expenses

3,998

2,977

General and administrative expenses

5,001

1,376

Selling and marketing expenses

135

180

Total stock-based compensation expense

$

9,365

$

4,564

AEVA TECHNOLOGIES, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net loss

$

(34,979

)

$

(34,867

)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

1,324

1,388

Change in fair value of warrant liabilities

(450

)

5,400

Stock-based compensation

9,365

4,564

Amortization of right-of-use assets

561

902

Amortization of premium and accretion of discount on available-for-sale securities, net

(485

)

(477

)

Accretion of convertible notes issuance cost

100

Impairment of inventories

33

Changes in operating assets and liabilities:

Accounts receivable, net

(92

)

412

Inventories

(197

)

(1,570

)

Other current assets

3,827

1,634

Other noncurrent assets

580

(192

)

Accounts payable

(248

)

(2,454

)

Accrued liabilities

(160

)

(378

)

Accrued employee costs

(6,099

)

(1,071

)

Lease liability

(437

)

(950

)

Other current liabilities

1,542

(3,166

)

Net cash used in operating activities

(25,848

)

(30,792

)

Cash flows from investing activities:

Purchase of property, plant and equipment

(2,225

)

(459

)

Purchase of available-for-sale securities

(36,761

)

(15,969

)

Proceeds from maturities of available-for-sale securities

18,500

39,750

Net cash (used in) provided by investing activities

(20,486

)

23,322

Cash flows from financing activities:

Proceeds from equity-related funding in connection with the JDA

5,500

Payments of taxes withheld on net settled vesting of restricted stock units

(183

)

Transaction costs related to issuance of convertible notes

(297

)

Proceeds from exercise of stock options

16

Net cash provided by (used in) financing activities

5,219

(183

)

Net decrease in cash and cash equivalents

(41,115

)

(7,653

)

Beginning cash and cash equivalents

72,291

28,864

Ending cash and cash equivalents

$

31,176

$

21,211

AEVA TECHNOLOGIES, INC.

Reconciliation of GAAP to Non-GAAP Operating Results

(Unaudited)

(In thousands, except share and per share data)

Reconciliation from GAAP to non-GAAP operating loss

Three Months Ended March 31,

2026

2025

GAAP operating loss

$

(35,136

)

$

(30,418

)

Stock-based compensation

9,365

4,564

Non-GAAP operating loss

$

(25,771

)

$

(25,854

)

Reconciliation from GAAP to non-GAAP net loss

Three Months Ended March 31,

2026

2025

GAAP net loss

$

(34,979

)

$

(34,867

)

Stock-based compensation

9,365

4,564

Change in fair value of warrant liabilities

(450

)

5,400

Non-GAAP net loss

$

(26,064

)

$

(24,903

)

Reconciliation between GAAP and non-GAAP net loss per share

Three Months Ended March 31,

2026

2025

Shares used in computing GAAP net loss per share:

Basic and diluted

62,808,102

54,750,088

GAAP net loss per share

Basic and diluted

$

(0.56

)

$

(0.64

)

Stock-based compensation

0.16

0.09

Change in fair value of warrant liabilities

(0.01

)

0.10

Non-GAAP net loss per share

Basic and Diluted

$

(0.41

)

$

(0.45

)

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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dei_PreCommencementTenderOffer

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

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dei_SecurityExchangeName

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

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dei_TradingSymbol

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

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