EHang Holdings Earnings Call Transcripts
Fiscal Year 2026
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Revenue for Q1 2026 was RMB 25.7 million, with gross margin stable at 62.5%. Human-carrying eVTOLs and non-human-carrying businesses are expected to contribute 60% and 40% of revenue, respectively, with overseas markets and new products driving future growth.
Fiscal Year 2025
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Record eVTOL deliveries and strong revenue growth in 2025 led to the first-ever quarterly GAAP profitability. Commercial operations for pilotless eVTOLs are launching in China and Thailand, with 2026 revenue guidance set at CNY 600 million and expanding non-passenger business.
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Q3 2025 saw 42 units delivered and RMB 92.5 million in revenue, with a temporary delivery slowdown due to strategic focus on operational readiness. Gross margin remained strong at 60.8%, and full-year revenue guidance of RMB 500 million was reaffirmed.
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Q2 2025 saw strong revenue and delivery growth, with 68 EH216 units delivered and RMB 147 million in revenue, up 44% year-over-year. The company shifted focus to supporting safe commercial operations, adjusted 2025 revenue guidance to RMB 500 million, and expanded global and domestic partnerships.
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Q1 2025 saw lower revenues and deliveries due to seasonal and regulatory timing, but gross margin improved to 62.4% on higher ASPs. With the first commercial eVTOL certifications and strong order momentum, management maintains full-year revenue guidance of RMB 900 million.
Fiscal Year 2024
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Record 2024 results with 216 units delivered and RMB 456 million revenue, achieving first-ever positive adjusted net income and operating cash flow. 2025 revenue is guided to nearly double, with continued expansion in production, global markets, and diversified revenue streams.
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Q3 2024 saw record revenues and deliveries, with 63 EH216-S units shipped and a 347.8% year-over-year revenue increase. Gross margin remained strong at 61.2%, and the company achieved its second consecutive quarter of profitability. OC approval and further commercialization are expected by year-end.
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Q2 2024 saw record revenue and deliveries, with a ninefold year-over-year increase and strong gross margin. Over 1,100 units are in backlog, production is ramping up, and guidance points to continued triple-digit growth, supported by robust demand and strategic partnerships.