EHang reports fourth quarter and fiscal year 2024 revenues significantly exceeding guidance, driven by strong demand for its aerial vehicles.
Quiver AI Summary
EHang Holdings Limited announced its preliminary revenues for the fourth quarter and fiscal year ended December 31, 2024, surpassing previous guidance. The company expects fourth-quarter revenues to reach RMB162 million, a 20% increase from guidance and a 187% increase year-over-year. For the fiscal year 2024, total revenues are anticipated at RMB454 million, reflecting a 6% increase from guidance and a 287% increase compared to 2023. This positive performance is attributed to strong market demand for its EH216-S pilotless aerial vehicles and significant operational achievements. EHang, a leader in Urban Air Mobility technology, aims to provide safe, autonomous air mobility solutions across various sectors.
Potential Positives
- EHang's preliminary fourth quarter revenues are projected at RMB162 million, exceeding their previous guidance of RMB135 million by 20% and achieving a significant year-over-year increase of 187%.
- For the fiscal year 2024, total revenues are anticipated to reach RMB454 million, surpassing the guidance of RMB427 million by 6% and marking a substantial year-over-year growth of 287% from RMB117.4 million in 2023.
- The strong revenue performance reflects robust market demand for EHang’s EH216-S pilotless passenger-carrying aerial vehicles and key operational milestones, indicating healthy momentum in the company's business operations.
- EHang maintains its position as a leader in the Urban Air Mobility sector by being the first to receive type and production certificates for pilotless eVTOL aircraft from the Civil Aviation Administration of China.
Potential Negatives
- The financial data presented in the press release is preliminary and unaudited, which raises uncertainty about the actual financial performance and could affect investor confidence.
- The company's forward-looking statements contain inherent risks and uncertainties, suggesting potential volatility in future performance that may deter investors.
- While the preliminary revenues are positive, the reliance on strong market demand and operational milestones emphasizes a lack of stability, as future results depend heavily on external factors and market conditions.
FAQ
What are EHang's expected revenues for Q4 2024?
EHang's expected revenues for Q4 2024 are RMB162 million, a 20% increase from the guidance of RMB135 million.
How much did EHang's revenue grow year-over-year?
EHang's Q4 2024 revenue represents a year-over-year increase of 187% compared to RMB56.6 million in Q4 2023.
What is EHang's total revenue for fiscal year 2024?
The expected total revenue for fiscal year 2024 is RMB454 million, reflecting a 6% increase from the prior guidance of RMB427 million.
What products does EHang specialize in?
EHang specializes in urban air mobility solutions, including pilotless aerial vehicles for air transportation, logistics, and smart city management.
Where can I find more information about EHang?
For more information about EHang, visit their official website at www.ehang.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EH Hedge Fund Activity
We have seen 30 institutional investors add shares of $EH stock to their portfolio, and 30 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CARMIGNAC GESTION removed 660,148 shares (-35.0%) from their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 573,566 shares (+500.0%) to their portfolio in Q3 2024
- WALLEYE TRADING LLC removed 258,368 shares (-100.0%) from their portfolio in Q3 2024
- NOMURA HOLDINGS INC added 176,341 shares (+221.8%) to their portfolio in Q3 2024
- MORGAN STANLEY added 161,496 shares (+158.0%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 126,156 shares (-56.9%) from their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 99,984 shares (-57.3%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
GUANGZHOU, China, Dec. 30, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced the preliminary revenues for the fourth quarter and fiscal year ended December 31, 2024, beating the previous revenue guidance in the earnings release for the third quarter of 2024.
Total revenues for the fourth quarter 2024
are expected to reach RMB162 million, representing an increase of 20% from the guidance of RMB135 million, and a year-over-year increase of 187% from RMB56.6 million in the fourth quarter of 2023.
Total revenues for the fiscal year 2024
are expected to reach RMB454 million, representing an increase of 6% from the guidance of RMB427 million, and a year-over-year increase of 287% from RMB117.4 million in 2023.
The upward performance reflects stronger-than-expected market demand for EHang’s flagship EH216-S pilotless passenger-carrying aerial vehicles, key operational milestones, and growing momentum in the Company’s business.
About EHang
EHang (Nasdaq: EH) is the world’s leading urban air mobility (“UAM”) technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (“UAV”) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang’s flagship product EH216-S has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit
www.ehang.com
.
Safe Harbor Statement
All financial data in this release are preliminary and unaudited and do not present all information necessary for an understanding of our results of operations for the quarter ended December 31, 2024. Our actual results may differ from the preliminary estimates due to the completion of normal quarter-end accounting procedures and adjustments, including the completion of our financial closing and other operational procedures, final adjustments, and other developments that may arise between now and the time the financial results for the three months ended December 31, 2024 are finalized. Our actual financial results and additional details regarding our performance for the fourth quarter ended December 31, 2024 will be provided in accordance with the Company’s standard reporting calendar.
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Investor Contact:
ir@ehang.com
Media Contact:
pr@ehang.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
