10:27 AM EDT, 05/07/2024 (MT Newswires) -- Eve (EVEX) reported a Q1 net loss Tuesday of $0.09 per diluted share, unchanged from a year earlier.

One analyst polled by Capital IQ expected a loss of $0.15.

As expected, the electric Vertical Takeoff and Landing aerospace company reported no revenue for the quarter ended March 31.

The company reported cash and cash equivalents for the quarter ended March 31 of $23.6 million, down from $46.9 million a year earlier.

The company noted that while it continues "to expect sequentially higher investments and expenses in the quarters ahead due to intensifying engineering engagement as well as potential supplier payments," it remains confident its liquidity "is sufficient to fund our operations, design and certification efforts through 2025."

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