- "We set a significant regulatory milestone for the industry by achieving the world’s first commercial operation approval of passenger-grade autonomous aerial vehicles (AAVs) for air logistics from the CAAC. We are well-prepared and confident that we can accelerate growth by deploying our AAV solutions for more practical uses and expect to roll out more new products including the ones with the flight range exceeding 100kms," EHang Holdings (EH +2.3%) founder, chairman & CEO Mr. Huazhi Hu commented.
- For Q2, total revenues of $5.1M (+62.7% Y/Y) beats consensus by $0.24M, led by significant growth across all revenue streams; air mobility solutions contributed 63.5% of the total revenues.
- Sales of the EHang 216, its flagship passenger-grade AAV, reached 16 units in Q2, vs. 14 units in the year ago quarter.
- Net loss was RMB19.7M (or $2.8M), vs. net loss of RMB16.3M.
- As of June 30, 2020, cash and equivalents stood at $32.3M
- In May 2020, EHang partnered with LN Holdings, a Shenzhen-listed tourism platform company, to announce the world’s first UAM-themed hotel at the LN Garden Hotel in Guangzhou, China.
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Outlook 2020: At least 200% growth in annual revenues expected; confident in its long-term growth outlook given the growing number of practical uses for AAVs in the global UAM market, especially in China.
- Previously: EHang EPS beats by $0.02, beats on revenue (Aug 25)
- Previously: EHang Holdings to contribute in international air ambulance project (Aug 21)