EHang today announced its unaudited financial results for the third quarter ended September 30, 2025.
Sales and deliveries of electric vertical take-off and landing (eVTOL) aircraft were 42 units, including 41 units of EH216 series and one unit of VT35, compared with 63 units of EH216 series in the third quarter of 2024, and 68 units of EH216 series in the second quarter of 2025. Total revenues were RMB92.5 million (USD13.0 million), compared with RMB128.1 million in the third quarter of 2024, and RMB147.2 million in the second quarter of 2025. Gross margin was 60.8%, compared with 61.2% in the third quarter of 2024 and 62.6% in the second quarter of 2025. Operating loss was RMB91.7 million (USD12.9 million), compared with RMB54.7 million in the third quarter of 2024 and RMB78.1million in the second quarter of 2025. Net loss was RMB82.1 million (USUSD11.5 million), compared with RMB48.1 million in the third quarter of 2024 and RMB81.0 million in the second quarter of 2025. Adjusted operating loss (non-GAAP) was RMB29.9 million (USUSD4.2 million), compared with adjusted operating income of RMB9.0 million in the third quarter of 2024, and adjusted operating loss of RMB1.9 million in the second quarter of 2025.
Adjusted net loss (non-GAAP)was RMB20.3million (USD2.9 million), compared with adjusted net income of RMB15.7 million in the third quarter of 2024, and adjusted net income of RMB9.4 million in the second quarter of 2025. Cash and cash equivalents, restricted short-term deposits and short-term investments balances were RMB1.13 billion (USD158.3 million) as of September 30, 2025.
In terms of trial operations and commercial readiness with its EH216-S eVTOL – “The first two operators with Air Operator Certificate (OC), our wholly-owned subsidiary, Guangdong EHang General Aviation Co., Ltd. and our joint venture, Hefei Heyi Aviation Co., Ltd., safely conducted over 1,700 safe operational flights since they have obtained their respective OC to date,” said the company. “The Company is ready for commencing commercial operations and plans to gradually roll out reservation-based eVTOL flight service in near term. Meanwhile, the certified operators are preparing for the trial flights along the A-to-B route. Furthermore, the Company continues to provide routine flight support for customers delivered with its eVOTLs across China. To date, it has accumulated a safe flight record of over 80,000 pilotless eVTOL flights.
The internal beta version of the EHang Trip ticketing system is live, allowing employees to book eVTOL flights online, preparing for future public online ticketing service.
“As one of the key contributors to the CAAC’s trial project for the administration of license for the ground operating crew of large civil unmanned aerial vehicles, EHang has deeply participated in this project since May and achieved notable progress,” it reported. “Now EHang has completed and submitted all materials of this program, including training plan, flight manual, curriculum and assessment and evaluation system, to the CAAC for their final approval. The first ground operating crew training program is expected to launch shortly under regulatory supervision, aiming to train the first group of licensed ground operating crew by early next year. The Company plans to establish a 100-member professional ground operating crew, laying a core talent foundation for future scaled commercial operations.”
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