Overview

* Aeva ( AEVA ) Q3 revenue of $3.58 mln misses analyst expectations

* The FMCW lidar sensor maker receives $100 mln investment from Apollo Global Management in Q3

Outlook

* Company in late-stage contract negotiations for series production award with major OE

Result Drivers

* OEM DEVELOPMENT - Successfully completed joint development program with a Top-10 global passenger OEM, advancing to late-stage contract negotiations for series production

* PRODUCT EXPANSION - Expanded manufacturing automation product line to include Eve 1V motion sensing, with initial sensor orders received

* INVESTMENT BOOST - Secured $100 mln investment from Apollo Global Management to accelerate commercial momentum

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $3.58 $4.80

Revenue mln mln (2

Analysts

)

Q3 Beat -$0.46 -$0.47

Adjusted (5

EPS Analysts

)

Q3 EPS -$0.52

Q3 Net $107.50

Income mln

Q3 Miss -$27.20 -$25.60

Adjusted mln mln (2

EBIT Analysts

)

Q3 EBIT -$33.16

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the communications & networking peer group is "buy"

* Wall Street's median 12-month price target for Aeva Technologies Inc ( AEVA ) is $25.00, about 44.8% above its November 4 closing price of $13.80

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)