# EDGAR Filing Document

**Accession Number:** 0001789029
**File Stem:** 0001193125-26-209002
**Filing Date:** 2026-5
**Character Count:** 24185
**Document Hash:** 192f5608f2db74fa70152e01a3b01ae6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-209002.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001193125-26-209002

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 10

**CONFORMED PERIOD OF REPORT**: 20260506

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aeva Technologies, Inc.
- **CENTRAL INDEX KEY:** 0001789029
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 843080757
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39204
- **FILM NUMBER:** 26948628

**BUSINESS ADDRESS:**
- **STREET 1:** 555 ELLIS STREET
- **CITY:** MOUNTAIN VIEW
- **STATE:** CA
- **ZIP:** 94043
- **BUSINESS PHONE:** 6504817070

**MAIL ADDRESS:**
- **STREET 1:** 555 ELLIS STREET
- **CITY:** MOUNTAIN VIEW
- **STATE:** CA
- **ZIP:** 94043

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** InterPrivate Acquisition Corp.
- **DATE OF NAME CHANGE:** 20190920

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** May 06, 2026<br>

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Aeva Technologies, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Delaware | 001-39204 | 84-3080757 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 555 Ellis Street |  |  |
| Mountain View**,** California |  | 94043 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (650) 481-7070<br>

Not Applicable<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common stock, par value $0.0001 per share | AEVA | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May 06, 2026, Aeva Technologies, Inc. (the "Company") issued a press release announcing financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 2.02.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information set forth in Item 2.02 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| Exhibit Number | Description |
| 99.1 | [<u>Press Release dated May 06, 2026</u>](aeva-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | Aeva Technologies, Inc. |
| Date: | May 06, 2026 | By:  | /s/ Saurabh Sinha |
|  |  |  | Saurabh Sinha<br>Chief Financial Officer |

---

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## Exhibit 99.1

Exhibit 99.1

**Aeva Reports First Quarter 2026 Results**

*Achieved New Record Quarterly Revenue with Growing Commercial Momentum*

*Key Milestones Achieved in Automotive and Commercial Vehicles with Production Intent Atlas Sensors Delivered to Daimler Truck and Atlas Ultra Integration with Top European Passenger OEM*

*Additional Commercial Deployments in Physical AI with Forterra in Defense, Aeva CityOS in ITS and Nikon in Factory Automation*

**MOUNTAIN VIEW, Calif., May 6, 2026 –** Aeva® (Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced its first quarter 2026 results.

**Key Company Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;•Delivered production intent Atlas sensors to Daimler Truck, highlighting the maturity of Aeva's technology and a major step to bringing the OEM's autonomous trucks to production

&nbsp;&nbsp;&nbsp;&nbsp;•Delivered first Atlas Ultra sensors to the Top 10 European passenger OEM for vehicle integration and AV stack development

&nbsp;&nbsp;&nbsp;&nbsp;•Working with NVIDIA on integrating 4D LiDAR as the reference sensor for the DRIVE Hyperion platform used by leading OEMs and AV companies to enable L3 and higher automated driving

&nbsp;&nbsp;&nbsp;&nbsp;•Growing in defense with Forterra expanding use of 4D LiDAR to another autonomous ground vehicle to leverage Aeva's long-range, velocity and undetectability by night vision systems

&nbsp;&nbsp;&nbsp;&nbsp;•Introduced CityOS, our full-stack AI-powered traffic management solution, which has already been selected for a large-scale award in Georgia with deployment underway

&nbsp;&nbsp;&nbsp;&nbsp;•Growing commercial momentum across automotive including L3 and high volume ADAS, and other physical AI applications such as defense and infrastructure

"Following record revenue in the previous quarter, Aeva in Q1 achieved another new record quarterly revenue, driven by increasing commercial deployments of our perception platform and successful execution of major development milestones for top automotive OEM production programs," said Soroush Salehian, Co-founder and CEO at Aeva. "We also continued to advance on additional programs across automotive and other physical AI applications. With a growing list of opportunities, we are keenly focused on delivering on existing programs and scaling manufacturing to meeting more of the growing demand for Aeva's unique technology."

**First Quarter 2026 Financial Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;•Total Available Liquidity

oTotal available liquidity of $224.5 million as of March 31, 2026, consisting of $99.5 million in cash, cash equivalents and marketable securities and $125.0 million in an available facility

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&nbsp;&nbsp;&nbsp;&nbsp;•Revenue

oRevenue of $6.3 million in Q1 2026, compared to revenue of $3.4 million in Q1 2025

&nbsp;&nbsp;&nbsp;&nbsp;•GAAP and Non-GAAP Operating Loss\*

oGAAP operating loss of $35.1 million in Q1 2026, compared to GAAP operating loss of $30.4 million in Q1 2025

oNon-GAAP operating loss of $25.8 million in Q1 2026, compared to non-GAAP operating loss of $25.9 million in Q1 2025

&nbsp;&nbsp;&nbsp;&nbsp;•GAAP and Non-GAAP Net Loss per Share\*

oGAAP net loss per share of $0.56 in Q1 2026, compared to GAAP net loss per share of $0.64 in Q1 2025

oNon-GAAP net loss per share of $0.41 in Q1 2026, compared to non-GAAP net loss per share of $0.45 in Q1 2025

&nbsp;&nbsp;&nbsp;&nbsp;•Shares Outstanding

oWeighted average shares outstanding of 62.8 million in Q1 2026

\*Tables reconciling GAAP to non-GAAP measures are provided at the end of this release.

**Conference Call Details**

Aeva will host a conference call and live webcast to discuss results at 2:00 p.m. PT / 5:00 p.m. ET today, May 6, 2026. The live webcast and replay can be accessed at investors.aeva.com.

**About Aeva Technologies, Inc. (Nasdaq: AEVA)**

Aeva's mission is to bring the next wave of perception to a broad range of applications from automated driving, manufacturing automation and smart infrastructure, to robotics and consumer devices. Aeva is accelerating autonomy with its groundbreaking perception platform that integrates lidar-on-chip technology, system-on-chip processing, and perception algorithms onto silicon leveraging silicon photonics. Aeva 4D LiDAR sensors uniquely detect velocity and position simultaneously, allowing automated devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on X or LinkedIn.

*Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Omni, Aeva CityOS, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.*

**Forward looking statements**

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements include, but are not limited to expectations about product development, product features, performance, the timing of production, and market adoption. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva's limited operating history, (iii) Aeva's ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the timing of any orders for the Company's solutions, which will not be under our control, (v) the risk that automotive OEMs may not pursue or adopt the platform as currently anticipated, if at all, (vi) the risk that markets will not accept products of automotive OEMs or of manufacturers in other industries that use our technologies,

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(vii) supply chain and manufacturing issues, (vii) unforeseen errors or defects, (viii) market acceptance of LiDAR technology and autonomous driving, (ix) general economic conditions, including tariffs, and other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Quarterly Reports on Form 10-Q and our most recent Annual Report on Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.

**Non-GAAP Information**

In addition to our financial results determined in accordance with U.S. GAAP, we present non-GAAP operating loss and non-GAAP net loss per share. "Non-GAAP operating loss" is defined as GAAP operating loss before stock-based compensation. "Non-GAAP net loss per share" is defined as non-GAAP net loss divided by weighted average shares outstanding, basic and diluted. "Non-GAAP net loss" is defined as GAAP net loss before stock-based compensation and change in fair value of warrant liabilities.

We believe that non-GAAP operating loss and non-GAAP net loss per share, when taken together with the corresponding U.S. GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, results of operations, or outlook. We consider non-GAAP operating loss and non-GAAP net loss per share to be important measures because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis.

However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations, including that they exclude certain expenses that are required under GAAP, which adjustments reflect the exercise of judgment by management. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures or ratios differently or may use other financial measures or ratios to evaluate their performance, all of which could reduce the usefulness of non-GAAP operating loss and non-GAAP net loss per share as tools for comparison. Reconciliations are provided at the end of this release to the most directly comparable financial measures in accordance with U.S. GAAP. Investors are encouraged to review our U.S. GAAP financial measures and not to rely on any single financial measure to evaluate our business.

**Contacts**

Media:

Michael Oldenburg

press@aeva.ai

Investors:

Andrew Fung

investors@aeva.ai

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| | | |
|:---|:---|:---|
| **AEVA TECHNOLOGIES, INC.** | **AEVA TECHNOLOGIES, INC.** | **AEVA TECHNOLOGIES, INC.** |
| **Condensed Consolidated Balance Sheets** | **Condensed Consolidated Balance Sheets** | **Condensed Consolidated Balance Sheets** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| **(In thousands)** | **(In thousands)** | **(In thousands)** |
|  | **March 31,<br>2026** | **December 31,<br>2025** |
| **Assets** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $31176 | $72291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | 68328 | 49608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 3454 | 3363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 5984 | 5787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 13149 | 22476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 122091 | 153525 |
| Operating lease right-of-use assets | 4919 | 5480 |
| Property, plant and equipment, net | 13244 | 12845 |
| Intangible assets, net | 600 | 825 |
| Other noncurrent assets | 6446 | 7026 |
| Total assets | $147300 | $179701 |
| **Liabilities and stockholders' equity** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $4613 | $5885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 11944 | 12063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued employee costs | 7846 | 13945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liability, current portion | 1425 | 1488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 3989 | 2488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 29817 | 35869 |
| Lease liability, noncurrent portion | 3838 | 4213 |
| Convertible notes | 96793 | 96693 |
| Warrant liabilities | 29261 | 29711 |
| Total liabilities | 159709 | 166486 |
| Stockholders' equity |  |  |
| Common stock | 6 | 6 |
| Additional paid-in capital | 779883 | 770502 |
| Accumulated other comprehensive loss | (30) | (4) |
| Accumulated deficit | (792268) | (757289) |
| Total stockholders' equity (deficit) | (12409) | 13215 |
| Total liabilities and stockholders' equity | $147300 | $179701 |

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| | | |
|:---|:---|:---|
| **AEVA TECHNOLOGIES, INC.** | **AEVA TECHNOLOGIES, INC.** | **AEVA TECHNOLOGIES, INC.** |
| **Condensed Consolidated Statements of Operations** | **Condensed Consolidated Statements of Operations** | **Condensed Consolidated Statements of Operations** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| **(In thousands, except share and per share data)** | **(In thousands, except share and per share data)** | **(In thousands, except share and per share data)** |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| Revenues: |  |  |
| &nbsp;&nbsp;Product | $2427 | $2481 |
| &nbsp;&nbsp;Professional service | 3835 | 887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 6262 | 3368 |
| Cost of revenues: |  |  |
| &nbsp;&nbsp;Product <sup>(1)</sup> | 3037 | 2583 |
| &nbsp;&nbsp;Professional service <sup>(1)</sup> | 1284 | 475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of revenues | 4321 | 3058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 1941 | 310 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;Research and development expenses <sup>(1)</sup> | 22826 | 21569 |
| &nbsp;&nbsp;General and administrative expenses <sup>(1)</sup> | 12352 | 7217 |
| &nbsp;&nbsp;Selling and marketing expenses <sup>(1)</sup> | 1899 | 1942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 37077 | 30728 |
| Loss from operation | (35136) | (30418) |
| Interest income | 877 | 1007 |
| Change in fair value of warrant liabilities | 450 | (5400) |
| Interest expense | (1183) |  |
| Other income, net | 45 | 1 |
| Net loss before taxes | $(34947) | $(34810) |
| Income tax provision | 32 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(34979) | $(34867) |
| Net loss per share |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $(0.56) | $(0.64) |
| &nbsp;&nbsp;&nbsp;Diluted | $(0.56) | $(0.64) |
| Weighted-average shares used in computing net loss per share |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 62808102 | 54750088 |
| &nbsp;&nbsp;&nbsp;Diluted | 62808102 | 54750088 |
| <sup>(1)</sup> Includes stock-based compensation as follows: |  |  |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| Cost of revenues | $231 | $31 |
| Research and development expenses | 3998 | 2977 |
| General and administrative expenses | 5001 | 1376 |
| Selling and marketing expenses | 135 | 180 |
| Total stock-based compensation expense | $9365 | $4564 |

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**AEVA TECHNOLOGIES, INC.**

**Condensed Consolidated Statements of Cash Flows**

**(Unaudited)**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| **Cash flows from operating activities:** |  |  |
| Net loss | $(34979) | $(34867) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 1324 | 1388 |
| &nbsp;&nbsp;&nbsp;Change in fair value of warrant liabilities | (450) | 5400 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 9365 | 4564 |
| &nbsp;&nbsp;&nbsp;Amortization of right-of-use assets | 561 | 902 |
| &nbsp;&nbsp;&nbsp;Amortization of premium and accretion of discount on available-for-sale securities, net | (485) | (477) |
| &nbsp;&nbsp;&nbsp;Accretion of convertible notes issuance cost | 100 |  |
| &nbsp;&nbsp;&nbsp;Impairment of inventories |  | 33 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | (92) | 412 |
| &nbsp;&nbsp;&nbsp;Inventories | (197) | (1570) |
| &nbsp;&nbsp;&nbsp;Other current assets | 3827 | 1634 |
| &nbsp;&nbsp;&nbsp;Other noncurrent assets | 580 | (192) |
| &nbsp;&nbsp;&nbsp;Accounts payable | (248) | (2454) |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | (160) | (378) |
| &nbsp;&nbsp;&nbsp;Accrued employee costs | (6099) | (1071) |
| &nbsp;&nbsp;&nbsp;Lease liability | (437) | (950) |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 1542 | (3166) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (25848) | (30792) |
| **Cash flows from investing activities:** |  |  |
| Purchase of property, plant and equipment | (2225) | (459) |
| Purchase of available-for-sale securities | (36761) | (15969) |
| Proceeds from maturities of available-for-sale securities | 18500 | 39750 |
| &nbsp;&nbsp;&nbsp;Net cash (used in) provided by investing activities | (20486) | 23322 |
| **Cash flows from financing activities:** |  |  |
| Proceeds from equity-related funding in connection with the JDA | 5500 |  |
| Payments of taxes withheld on net settled vesting of restricted stock units |  | (183) |
| Transaction costs related to issuance of convertible notes | (297) |  |
| Proceeds from exercise of stock options | 16 |  |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 5219 | (183) |
| **Net decrease in cash and cash equivalents** | (41115) | (7653) |
| **Beginning cash and cash equivalents** | 72291 | 28864 |
| **Ending cash and cash equivalents** | $31176 | $21211 |

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**AEVA TECHNOLOGIES, INC.**

**Reconciliation of GAAP to Non-GAAP Operating Results**

**(Unaudited)**

**(In thousands, except share and per share data)**

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| | | |
|:---|:---|:---|
| ***Reconciliation from GAAP to non-GAAP operating loss*** |  |  |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| GAAP operating loss | $(35136) | $(30418) |
| Stock-based compensation | 9365 | 4564 |
| Non-GAAP operating loss | $(25771) | $(25854) |
| ***Reconciliation from GAAP to non-GAAP net loss*** |  |  |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| GAAP net loss | $(34979) | $(34867) |
| Stock-based compensation | 9365 | 4564 |
| Change in fair value of warrant liabilities | (450) | 5400 |
| Non-GAAP net loss | $(26064) | $(24903) |
| ***Reconciliation between GAAP and non-GAAP net loss per share*** |  |  |
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2025** |
| Shares used in computing GAAP net loss per share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted | 62808102 | 54750088 |
| GAAP net loss per share |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted | $(0.56) | $(0.64) |
| Stock-based compensation | 0.16 | 0.09 |
| Change in fair value of warrant liabilities | (0.01) | 0.10 |
| Non-GAAP net loss per share |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and Diluted | $(0.41) | $(0.45) |

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