Eve Holding, Inc. Q1 FY2025 earnings call

• Johann highlighted milestones in eVTOL development, including ground tests of full-scale prototype, testing pusher and lifter motors, and progress with Iron Bird simulator for system integration. • Engaged with suppliers for components of conforming prototypes, with parts like nose fuselage, lighting systems, and actuators already produced. • Preorder backlog stands at ~2,800 aircraft worth ~$14B, with $1.6B in services contracts for aftermarket product suite, covering ~40% of preorder book. • Digital and computer systems advanced to reduce development time and cost, including flight simulators for control law validation and cockpit design for maintenance efficiency.

No detailed financial performance by product segments provided; focus is on eVTOL development with milestones in ground tests, motor testing, and progress with simulators and suppliers.

• Net loss of $49M in Q1 2025, with $45M invested in program development. • Cash consumption guidance for full year is $200M to $250M, likely closer to the low end. • Ended Q1 with $288M in cash, total liquidity of $411M sufficient to sustain operations through 2026. • R&D spend expected to stay at current level, not accelerating further.

• Forward-looking statements involve risks and uncertainties that could cause financial results to differ; refer to SEC filings for details.

Q: R&D spend is higher than expected, will the pace step up?

A: Eduardo Couto states R&D should stay at current level, not accelerating further.

Q: On certification aircraft build, what items are still waiting to start building?

A: Johann Bordais mentions conforming prototype is on schedule, with parts from suppliers and facility ready to receive tooling.

Q: The $1.6B in services contract backlog, does it include battery upgrades?

A: Eduardo Couto says it includes replacement and repair of batteries, not upgrades.

Q: Will the certification prototype fly with a pilot?

A: Johann Bordais states the conforming prototype will be manned, part of the certification process.

Q: On order book and free cash flow, latest customer engagement?

A: Eduardo Couto mentions order book is evolving, cash consumption on track with guidance.

Q: Timing of five prototypes for certification campaign?

A: Johann Bordais says starting to assemble parts towards end of year, with cash focus on R&D.

Q: Progress on service and maintenance commercialization?

A: Johann Bordais highlights focus on first aircraft, training with ECTS for pilots and mechanics.

Q: Software progress for services side?

A: Luiz Valentini states ongoing effort to develop user-friendly software for services.

Q: Future financing options?

A: Eduardo Couto mentions multiple funding options available, including grants and debt facilities.

Q: Battery in engineering prototype vs commercial aircraft?

A: Luiz Valentini says battery is different design but same technology, same supplier, with learnings applied to commercial vehicle battery