EHang Holdings Limited has today announced its unaudited financial results for the first quarter ended March 31, 2024. These are the hghlights:
- Total revenues were RMB61.7 million (USD8.5 million), representing an increase of 178.0% from RMB22.2 million in the first quarter of 2023, and an increase of 9.1% from RMB56.6 million in the fourth quarter of 2023.
- Operating loss was RMB65.8 million (USD9.1 million), representing a 13.1% improvement from RMB75.7 million in the first quarter of 2023 and a 12.4% improvement from RMB75.2 million in the fourth quarter of 2023.
- Adjusted operating loss (non-GAAP) was RMB12.6 million (USD1.7 million), representing a 63.4% improvement from RMB34.3 million in the first quarter of 2023, and a 49.5% improvement from RMB24.9 million in the fourth quarter of 2023.
- Net loss was RMB63.4 million (USD8.8 million), representing a 27.2% improvement from RMB87.0 million in the first quarter of 2023, and a 12.5% increase from RMB72.5 million in the fourth quarter of 2023.
- Adjusted net loss (non-GAAP) was RMB10.1 million (USD1.4 million), representing a 69.9% improvement from RMB33.6 million in the first quarter of 2023, and a 54.4% improvement from RMB22.1 million in the fourth quarter of 2023.
- Cash and cash equivalents, short-term deposits and short-term investments balances were RMB323.8 million (USD44.9 million) as of March 31, 2024.
- Positive cash flow from operations were achieved in the first quarter of 2024. This is the second consecutive quarter that the Company generated positive cash flow from operations.
- Sales and deliveries of EH216 series products were 26 units, more than doubling 11 units in the first quarter of 2023, and compared with 23 units in the fourth quarter of 2023.
For more information
https://ir.ehang.com/news-releases/news-release-details/ehang-reports-first-quarter-2024-unaudited-financial-results
