Aeva Technologies, Inc. (AEVA) reported an adjusted loss of 41 cents per share for Q2 2026, improving from a loss of 44 cents in the same period last year and better than the Zacks Consensus Estimate. Revenues rose 11.3% year over year to $6.1 million, exceeding estimates by 0.1%.
Product revenues decreased 39.4% to $2.5 million, while professional service revenues surged 174.5% to $3.6 million, becoming the primary driver of growth. Gross profit of $2.2 million marked a turnaround from a gross loss of $2.7 million a year ago, with overall gross margin improving to 35.7%. AEVA ended June with $177.9 million in cash and generated $115 million in gross proceeds from a follow-on stock offering during the quarter.
Aeva launched an Optical Connectivity business aimed at next-generation AI data centers, with initial deployments set for the second half of 2027. The company also made strides in automotive technology, partnering with Bendix on advanced driver-assistance systems and delivering production-intent Atlas sensors to Daimler Truck.
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