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EH

EHang Holdings Limited

EH

EHang Holdings Limited • NASDAQ
$14.26 ▲ 4.62% (+0.63)
Market Cap $515.72 M
52w High $29.76
52w Low $12.71
Dividend Yield 0%
P/E -25.46
Volume 778.75K
Outstanding Shares 36.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $147.162M ▲ $170.187M ▲ $-80.793M ▼ -54.901% ▲ $-2.24 ▼ $-78.415M ▼
Q1-2025 $26.092M ▼ $106.171M ▼ $-78.084M ▼ -299.264% ▼ $-2.16 ▼ $-72.082M ▼
Q4-2024 $164.278M ▲ $155.054M ▲ $-46.858M ▲ -28.524% ▲ $-1.32 ▼ $-52.059M ▼
Q3-2024 $128.128M ▲ $133.161M ▼ $-48.056M ▲ -37.506% ▲ $-0.78 ▲ $-51.439M ▲
Q2-2024 $102.019M $141.095M $-71.537M -70.121% $-1.08 $-74.136M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.12B ▲ $1.776B ▲ $765.844M ▲ $1.01B ▲
Q1-2025 $1.083B ▼ $1.601B ▲ $678.261M ▲ $922.615M ▼
Q4-2024 $1.125B ▲ $1.584B ▲ $628.684M ▼ $955.643M ▲
Q3-2024 $1.037B ▲ $1.389B ▲ $641.725M ▼ $746.607M ▲
Q2-2024 $956.931M $1.315B $675.323M $639.096M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-80.793M ▼ $0 $0 $0 $0 $0
Q1-2025 $-78.084M ▼ $0 $0 $0 $0 $0
Q4-2024 $-46.858M ▲ $0 $0 $0 $0 $0
Q3-2024 $-48.056M ▲ $0 $0 $0 $0 $0
Q2-2024 $-71.537M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement EHang is still very much in the early, build‑out phase: revenue has been small but is clearly ramping up, with a notable jump in the most recent year. The company is generating healthy gross margins, which suggests its products are priced well relative to their production cost. However, operating losses remain sizable and consistent, showing that spending on people, development, and scaling is still far ahead of sales. Net losses per share are still large, though they have stopped worsening and have begun to narrow slightly, which hints at better operating discipline as revenue grows. Overall, the income statement shows an innovative company that has not yet reached commercial scale or profitability.

Balance Sheet

Balance Sheet The balance sheet looks stronger now than in prior years, with total assets and cash both stepping up meaningfully in the latest year. Equity has been rebuilt after being relatively thin, giving the company a larger financial cushion to absorb ongoing losses. Debt has increased but remains moderate compared with the company’s asset base, so leverage does not appear excessive at this stage. The key watchpoint is that the business is still loss‑making, so this healthier balance sheet will need to support the company through continued scaling and certification efforts.

Cash Flow

Cash Flow Cash flow has improved significantly: operating cash flow turned positive in the most recent year after several years of outflows. Free cash flow also flipped into positive territory, helped by only modest investment spending on equipment and facilities. This shift suggests better alignment between cash coming in from customers and cash going out for operations, even though the company is still reporting accounting losses. The sustainability of positive cash flow will depend on how quickly EHang ramps production, manages working capital, and controls its cost base as it grows.

Competitive Edge

Competitive Edge EHang holds a rare early lead in the urban air mobility space, especially in China, with regulatory approvals that most peers are still working toward. Being one of the first to secure full certification for a pilotless eVTOL aircraft creates high barriers to entry and gives EHang a head start in building real operating experience. Its focus on fully autonomous, centrally managed aircraft differentiates it from many competitors that are pursuing piloted models first. At the same time, this is a young, fast‑evolving industry with powerful potential entrants, so EHang must execute well on safety, reliability, and scaling to maintain its edge.

Innovation and R&D

Innovation and R&D Innovation is central to EHang’s story: the company has built proprietary autonomous flight and control systems, backed by a substantial patent portfolio. Its core product line focuses on pilotless, electric, vertical‑takeoff aircraft that aim to be relatively affordable and simple to operate compared with traditional aviation. EHang is also building a data advantage, using flight information to refine its algorithms, improve safety, and deepen regulatory trust. The company’s dual model—selling aircraft and providing ongoing operational services—relies heavily on continued R&D to keep enhancing software, safety features, and new use cases such as tourism, logistics, and smart‑city applications.

Summary

EHang today looks like an early‑stage, high‑innovation aerospace company moving from concept toward broader commercialization. The financials show promising revenue growth and improving margins, but also continuing losses and a long road to scale. The balance sheet and cash flow trends have improved, giving the company more breathing room to invest in growth, though it still depends on successful execution to justify those investments. Strategically, EHang benefits from a meaningful first‑mover advantage in autonomous eVTOLs and strong regulatory positioning in China, supported by government interest in low‑altitude aviation. The main uncertainties center on how quickly real-world demand will materialize, how effectively the company can scale production and operations, and how the competitive and regulatory landscape will evolve over the next several years.

NEWS

November 26, 2025 · 4:16 AM UTC

EHang Reports Third Quarter 2025 Unaudited Financial Results

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November 25, 2025 · 9:58 AM UTC

EHang's Thailand AAM Sandbox Reaches Landmark: First Urban Sandbox Human-Carrying Flight of Pilotless eVTOL with CAAT Director-General Aboard

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November 19, 2025 · 1:34 AM UTC

EHang to Report Third Quarter 2025 Unaudited Financial Results on Wednesday, November 26, 2025

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November 17, 2025 · 11:35 AM UTC

EHang EH216-S Conducts First Urban Human-Carrying Pilotless eVTOL Flights in the Middle East, Partnering with Qatar's Ministry of Transport

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October 18, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of EHang Holdings Limited - EH

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