MELBOURNE, Fla., May 5, 2026 /PRNewswire/ -- Eve Holding, Inc. ("Eve") (NYSE: EVEX and EVEXW / B3: EVEB31) reports its first quarter 2026 earnings results.
Financial Highlights
Eve Air Mobility is an aerospace company dedicated to developing an eVTOL (electric Vertical Takeoff and Landing) aircraft and the Urban Air Mobility (UAM) ecosystem. This includes aircraft development, Services & Support solutions like Eve TechCare® and Eve Vector®, an Urban Air Traffic Management system. Eve is pre-operational. We do not expect meaningful revenue, if any, during the aircraft development phase. Financial results during this period are expected to be driven mainly by program development costs.
Eve reported a net loss of $68.8 million in 1Q26 versus $48.8 million in 1Q25. The higher net loss in 1Q26 was mainly due to increased Research & Development expenses. These costs and activities are necessary to advance our suite of UAM products and solutions, including the Master Service Agreement (MSA) with Embraer. R&D expenses were $59.1 million in 1Q26 compared to $44.7 million in 1Q25. This increase reflects the intensifying R&D activity, including eVTOL development, greater engagement with suppliers, and the allocation of Embraer engineering resources to our project. R&D also required additional program development activities and more testing infrastructure. The MSA primarily drives our R&D costs with Embraer, which performs several critical activities for Eve.
Selling, General & Administrative (SG&A) decreased to $7.2 million in 1Q26 versus $7.9 million in 1Q25. This was mostly due to higher payroll-related costs associated with employee Restricted Stock Units (RSUs) recognized in the prior year. The decrease came despite an 11% appreciation of the Brazilian Real versus the US Dollar and a higher number of direct employees at Eve. Our staff now stands at approximately 200, compared to roughly 180 in 1Q25
Eve's total cash consumption in 1Q26 was $68.6 million, compared to $25.4 million in 1Q25. This reflects the greater intensity of our design and development activities. In 1Q26, cash consumption included an $11 million payment under the MSA with Embraer, that had been deferred from the previous quarter. Excluding this payment, adjusted cash consumption in 1Q26 was $57 million. Eve's Cash, Cash Equivalents, and Financial Investments totaled $441.1 million at the end of 1Q26. This is our highest cash balance ever. Total liquidity, including undrawn credit lines with the Brazil's National Development Bank (BNDES), also reached a record level of $577.7 million, driven by a new 5-year syndicated loan of $150 million issued in January 2026. We believe this funding is sufficient to support our operations and program investments through 2028.
For additional information, please access the full 1Q26 Earnings release, available at the Investor Relations website ir.eveairmobility.com
Webcast details
Management will discuss the results on a conference call on Tuesday, May 05, 2026, at 8:00 AM (Eastern Time). The webcast will be publicly available in the Upcoming Events section of the company website: www.eveairmobility.com
To listen by phone, please dial 1-877-407-0752 or 1-201-389-0912. A replay of the call will be available until May 19, 2026, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13760047.
About Eve Holding, Inc.
Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.'s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers "EVEX" and "EVEXW". In December 2025, the Company was listed on the B3, Brazilian Stock Exchange, under the ticker EVEB31. The information on, or accessible through, any website referenced herein is not incorporated by reference into, and is not a part of, this release. For more information, please visit www.eveairmobility.com
Forward Looking Statements
Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company's plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company's current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations of the company's most recent Annual Report on Form 10-K, Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company's most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company's other filings with the Securities and Exchange Commission. Additionally, there may be other factors which the company is not currently aware of that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements, other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.
Investor Relations
Lucio Aldworth
Caio Pinez
[email protected]
https://ir.eveairmobility.com/
Media:
[email protected]
SOURCE Embraer S.A.
