The following is a summary of the Aeva Technologies, Inc. (AEVA) Q2 2024 Earnings Call Transcript:

Financial Performance:

• In Q2, Aeva Technologies reported a revenue of $2 million, primarily driven by sensor shipments to multiple customers and NRE from Daimler Trucks.

• Non-GAAP operating loss was $32 million, reflecting continued investment in technology development.

• At the quarter's end, total liquidity stood at $285.2 million with $160.2 million in cash and equivalents.

Business Progress:

• Continued collaboration with Daimler Truck, progressing towards the start of production in 2026.

• Expanded partnerships and new customer engagements in automotive with top global passenger vehicle OEMs.

• Entered into security and automated train market sectors, securing new applications for Aeva's 4D LiDAR.

• Advanced towards the first industrial launch with Nikon, validating the LiDAR-on-Chip technology for metrology applications.

Opportunities:

• Expanding use of Aeva's 4D LiDAR beyond automotive to security applications and nationality defense, reflecting diversified market adoption.

• New collaborations for vehicle integration with top automotive OEMs, showcasing FMCW technology's advantages for high-speed automation.

• Entry into industrial metrology with Nikon promises new growth in non-automotive applications.

Risks:

• Faced challenges in validating the production line ahead of the Q4 industrial launch, though managed to be slightly ahead of schedule.

• Relies on securing additional production wins to sustain growth and resource allocation.

More details: Aeva Technologies IR

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