Aeva Technologies reported a $0.41 per share loss, $0.02 better than estimates, with revenue rising 10.7% to $6.1M.
Aeva Technologies shares jumped 34% after the company posted stronger-than-expected second-quarter results. The lidar firm reported a non-GAAP loss of $0.41 per share, exceeding analyst expectations by $0.02, while revenue climbed 10.7% year over year to $6.1M.
Analysts had anticipated a wider loss, making the narrower deficit a key driver of the stock’s rally. The revenue increase marked a continued recovery trend for the company, which has faced challenges in scaling its lidar technology for automotive and industrial applications.
The earnings beat triggered a sharp upward move in AEVA’s stock price during Thursday’s trading session on NASDAQ.