EHang Announced 3Q2023 Results on Wednesday, Exceeding Expectations
The company reported EPS of ($0.06), beating expectations of ($0.16).
Autonomous aerial vehicle technology company EHang (NASDAQ: EH) reported earnings on Wednesday, November 22, 2023, with reported 3Q2023 EPS of ($0.06) beating expectations of ($0.16) and total revenues of RMB28.6 million (US$3.9 million) representing an increase of 248% year-over-year from 3Q2022.
3Q2023 Conference Call Presentation
Courtesy of EHang on Instagram @ehangofficial: The EH216 in flight.
The stock opened at $15.92 today (November 24th), after closing at $15.80 on November 22nd and $15.39 on November 21st.
On the conference call, EHang highlighted its receipt of the world’s first type certificate for an unmanned eVTOL from the Civil Administration of China (CAAC), the CAAC’s approval for EHang’s unmanned aircraft cloud system for trial operations, strategic partnerships with the Shenzhen Bao’an District Government and Hefei Municipal Government, a $23 million PIPE investment from strategic investors and an investment in Inc to develop solid-state lithium metal battery supply chains for eVTOLs.
** Not investment advice; The FLY Report is not a registered investment advisor.
