olivLaw · US equity research
Aeva Technologies, Inc. AEVA
Motor Vehicle Parts & Accessories · SIC 3714 · Vertical: Motor Vehicle Parts & Accessories (SIC 3714)
Aeva designs chip-integrated 4D LiDAR sensors based on FMCW technology for autonomous vehicles, industrial automation, smart infrastructure and, from 2026, AI data-center optics. The company remains at an early stage, with low revenue and large net losses, and quarterly revenue stays very small relative to research spending, so success depends on turning development programs into series production.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Aeva Technologies, Inc. (AEVA) stock was 9.49 USD (+6.15% on the day), with market capitalisation 661.5 m USD, beta 2.96, 52-week range 8.60–29.29 USD. Latest reported quarter (Q2 2026): revenue of 6.1 m USD (+11.3% YoY), net income of -79.6 m USD, diluted EPS -1.23 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 36.1
- weak (30–45)
- Bollinger (20, 2)
- 7.89 – 13.29
- in the lower half of the band · %B 0.30 · band width 51.0%
- SMA 50 / 200
- 13.26 / 16.75
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.31 / -1.34
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −33.6% | −1.1% | −32.5 pp | — |
| 3 months | −51.6% | −0.5% | −51.2 pp | — |
| 6 months | −42.7% | +4.4% | −47.1 pp | — |
| Year to date | −28.5% | +12.3% | −40.9 pp | — |
| 1 year | −31.2% | +13.5% | −44.7 pp | −10.2% |
| 3 years | +208.1% | +76.4% | +131.7 pp | −3.9% |
| 5 years | −76.9% | +63.7% | −140.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.3 m | 2.7 m | 3.4 m | 5.5 m | 3.6 m | 5.6 m | 6.3 m | 6.1 m |
| Cost of revenue | 3.0 m | 3.5 m | 3.1 m | 8.2 m | 3.1 m | 4.3 m | 4.3 m | 3.9 m |
| Gross profit | -721.0 k | -829.0 k | 310.0 k | -2.7 m | 430.0 k | 1.3 m | 1.9 m | 2.2 m |
| Research & development | 27.1 m | 24.3 m | 21.6 m | 22.8 m | 22.2 m | 18.9 m | 22.8 m | 24.9 m |
| Operating income | -37.9 m | -34.2 m | -30.4 m | -34.9 m | -33.2 m | -29.1 m | -35.1 m | -34.6 m |
| Depreciation & amortisation | 1.3 m ≈ | 1.4 m | 1.4 m | 1.3 m ≈ | 1.3 m ≈ | 1.3 m | 1.3 m | 1.3 m ≈ |
| Interest expense | — | — | 0 | 0 | — | — | 1.2 m | 1.2 m |
| Pre-tax income | -37.4 m | -36.1 m | -34.8 m | -192.7 m | 107.6 m | -25.2 m | -34.9 m | -79.6 m |
| Income tax | 22.0 k | 26.0 k | 57.0 k | 70.0 k | 66.0 k | 115.0 k | 32.0 k | 58.0 k |
| Net income | -37.4 m | -36.1 m | -34.9 m | -192.7 m | 107.5 m | -25.3 m | -35.0 m | -79.6 m |
| Diluted EPS | -0.70 | -0.67 ≈ | -0.64 | -3.49 | -0.52 | -0.42 ≈ | -0.56 | -1.23 |
| Operating cash flow | -25.9 m ≈ | -20.9 m | -30.8 m | -29.8 m ≈ | -32.3 m ≈ | -22.1 m | -25.8 m | -31.2 m ≈ |
| Capex | 542.0 k ≈ | 2.1 m | 459.0 k | 1.4 m ≈ | 1.3 m ≈ | 1.5 m | 2.2 m | 185.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 1.4 m | 4.8 m | 9.3 m | 4.2 m | 4.3 m | 9.1 m | 18.1 m |
| Revenue YoY | unavailable | +249.9% | +91.3% | −54.8% | +2.9% | +110.2% | +99.4% |
| Net income | -19.6 m | -25.6 m | -101.9 m | -147.3 m | -149.3 m | -152.3 m | -145.4 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.18 | -0.51 | -3.39 | -3.29 | -2.85 | -2.55 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -1,415.8% | -528.0% | -1,099.6% | -3,514.0% | -3,463.2% | -1,679.7% | -804.4% |
| Free cash flow | -16.8 m | -22.1 m | -86.0 m | -117.4 m | -124.9 m | -112.0 m | -119.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 72.3 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 13.2 m USD
- Total assets
- 179.7 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.28x
- ROE
- -258.4%
- ROA
- -88.9%
- FCF margin
- -662.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.8 m | 9.3 m | 4.2 m | 4.3 m | 9.1 m | 18.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Cost of revenue | 2.7 m | 5.8 m | 8.4 m | 10.2 m | 12.9 m | 18.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Gross profit | 2.1 m | 3.4 m | -4.3 m | -5.9 m | -3.8 m | -660.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Research & development | 20.5 m | 74.8 m | 109.6 m | 102.5 m | 102.7 m | 85.4 m | SEC (XBRL)· 20 Mar 2026verified |
| Operating income | -25.7 m | -104.2 m | -152.0 m | -147.8 m | -158.4 m | -127.6 m | SEC (XBRL)· 20 Mar 2026verified |
| Depreciation & amortisation | 798.0 k | 1.1 m | 3.3 m | 4.6 m | 5.5 m | 5.4 m | SEC (XBRL)· 20 Mar 2026verified |
| EBITDA | -24.9 m ≈ | -103.0 m ≈ | -148.7 m ≈ | -143.2 m ≈ | -152.9 m ≈ | -122.2 m ≈ | SEC (XBRL)· 20 Mar 2026derived |
| Pre-tax income | -25.6 m | -101.9 m | -147.3 m | -149.3 m | -152.1 m | -145.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Income tax | 0 | 0 | 0 | 0 | 171.0 k | 308.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Net income | -25.6 m | -101.9 m | -147.3 m | -149.3 m | -152.3 m | -145.4 m | SEC (XBRL)· 20 Mar 2026verified |
| Diluted EPS | -0.18 | -0.51 | -3.39 | -3.29 | -2.85 | -2.55 | SEC (XBRL)· 20 Mar 2026verified |
| Weighted average diluted shares | 141.7 m | 200.8 m | 43.5 m | 45.4 m | 53.4 m | 57.0 m | SEC (XBRL)· 20 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 24.6 m | 66.8 m | 67.4 m | 38.5 m | 28.9 m | 72.3 m | SEC (XBRL)· 20 Mar 2026verified |
| Receivables | 141.0 k | 2.3 m | 2.9 m | 628.0 k | 1.2 m | 3.4 m | SEC (XBRL)· 20 Mar 2026verified |
| Inventories | 1.2 m | 2.1 m | 3.0 m | 2.4 m | 2.3 m | 5.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Current assets | 31.0 m | 458.5 m | 335.1 m | 229.2 m | 123.3 m | 153.5 m | SEC (XBRL)· 20 Mar 2026verified |
| Property, plant & equipment, net | 1.6 m | 5.1 m | 9.7 m | 12.1 m | 10.3 m | 12.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Intangibles (excl. goodwill) | 0 | 4.4 m | 3.5 m | 2.6 m | 1.7 m | 825.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Total assets | 32.6 m | 479.2 m | 356.6 m | 257.4 m | 147.5 m | 179.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Accounts payable | 2.1 m | 4.4 m | 5.2 m | 3.6 m | 5.5 m | 5.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Current liabilities | 5.7 m | 14.3 m | 21.8 m | 18.4 m | 39.2 m | 35.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Total liabilities | 5.7 m | 22.8 m | 26.7 m | 28.9 m | 48.1 m | 166.5 m | SEC (XBRL)· 20 Mar 2026verified |
| Equity | 26.9 m † | 456.4 m † | 329.9 m † | 228.4 m † | 99.4 m † | 13.2 m † | SEC (XBRL)· 20 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -21.2 m | -82.1 m | -109.9 m | -118.8 m | -106.9 m | -115.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Capex | 855.0 k | 3.9 m | 7.4 m | 6.1 m | 5.1 m | 4.6 m | SEC (XBRL)· 20 Mar 2026verified |
| Free cash flow | -22.1 m ≈ | -86.0 m ≈ | -117.4 m ≈ | -124.9 m ≈ | -112.0 m ≈ | -119.7 m ≈ | SEC (XBRL)· 20 Mar 2026derived |
| Investing cash flow | -855.0 k | -388.6 m | 110.9 m | 69.3 m | 97.9 m | 29.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Financing cash flow | 73.0 k | 512.9 m | -369.0 k | 20.7 m | -671.0 k | 128.6 m | SEC (XBRL)· 20 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 661.5 m USD
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -150.1% | 9 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 62.8% | 100 (on a fixed band) | 31% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 7.8x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -17.6% | 0 (on a fixed band) | 31% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality· partial9/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AEVA TECHNOLOGIES, INC. (AEVA). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 18.1 m USD in 2025; YoY growth 99.4%; net margin -150.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 62.8%
- Current ratio: 7.8x
What contradicts it
- Net margin: -150.1%
- FCF yield: -17.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Motor Vehicle Parts & Accessories (SIC 3714) · same industry (4-digit SIC) · compared with 34 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MGAMagna International Inc. | 18.4 bn | 22.4 | 6.9% | 2.0% | −1.9% | +34% / +22% |
| BWABorgwarner Inc. | 10.1 bn | 21.5 | 8.2% | 3.4% | +1.6% | +17% / +50% |
| ALSNAllison Transmission Holdings, Inc. | 9.9 bn | 17.4 | 29.7% | 11.1% | −6.7% | +36% / +125% |
| ALVAutoliv, Inc. | 9.0 bn | 15.1 | 24.8% | 5.6% | +4.1% | +7% / +21% |
| APTVAptiv PLC | 8.8 bn | 11.9 | 8.5% | 4.6% | +3.5% | −44% / −48% |
| LEALear Corp | 5.7 bn | 10.4 | 11.6% | 2.5% | −0.2% | +11% / −11% |
| MODModine Manufacturing Co | 5.2 bn | 41.3 | 11.4% | 3.6% | +23.1% | −39% / +100% |
| GNTXGentex Corporation | 4.4 bn | 11.0 | 16.4% | 15.5% | +9.6% | −9% / −32% |
| DORMDorman Products, Inc. | 4.2 bn | 21.2 | 13.3% | 9.3% | +6.0% | +8% / +98% |
| ATMUAtmus Filtration Technologies Inc. | 3.9 bn | 18.3 | 55.8% | 11.3% | +5.7% | −5% / +119% |
| GTXGarrett Motion Inc. | 3.6 bn | 10.1 | — | 10.0% | +3.1% | +20% / +167% |
| PATKPatrick Industries Inc | 2.7 bn | 20.1 | 13.0% | 3.7% | +6.3% | −22% / +55% |
| PHINPhinia Inc. | 2.6 bn | 14.5 | 12.2% | 5.2% | +2.4% | +33% / +181% |
| DANDana Incorporated | 2.6 bn | 2.4 | 71.4% | 14.6% | −3.0% | +6% / +80% |
| LCIILci Industries | 2.5 bn | 12.1 | 15.0% | 5.2% | +10.2% | −8% / −4% |
| VCVisteon Corp | 2.0 bn | 13.8 | 10.8% | 4.1% | −2.5% | −22% / −32% |
| THRMGentherm Incorporated | 1.6 bn | 105.3 | 1.3% | 0.6% | +2.9% | −13% / −32% |
| ADNTAdient plc | 1.3 bn | 28.5 | 2.7% | 0.3% | −1.0% | −12% / −47% |
| DCHDauch Corporation | 1.1 bn | — | -15.2% | -2.0% | −4.7% | −27% / −31% |
| SMPStandard Motor Products, Inc. | 1.0 bn | 15.1 | 9.9% | 3.8% | +22.4% | +22% / +28% |
| AEVAAeva Technologies, Inc. | 661.5 m | — | — | -150.1% | +99.4% | −31% / +208% |
| CPSCooper-Standard Holdings Inc. | 391.6 m | — | — | -2.0% | +0.4% | −29% / +24% |
| HLLYHolley Inc. | 351.6 m | 35.3 | 2.3% | 1.7% | +1.9% | −32% / −30% |
| KNDIKandi Technologies Group, Inc. | 287.8 m | — | -30.5% | -107.4% | −31.5% | −63% / −88% |
| STRTStrattec Security Corp | 258.5 m | 15.6 | 7.2% | 2.9% | +2.5% | −14% / +201% |
1- and 3-year price returns: for AEVA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results).
In brief
Aeva designs chip-integrated 4D LiDAR sensors based on FMCW technology for autonomous vehicles, industrial automation, smart infrastructure and, from 2026, AI data-center optics. The company remains at an early stage, with low revenue and large net losses, and quarterly revenue stays very small relative to research spending, so success depends on turning development programs into series production 13.
SWOT
Strengths
- Chip-integrated FMCW technology that measures velocity and distance at the same time gives a clear technical difference from ToF LiDAR 1.
- The company has active relationships with several carmakers and a major commercial-vehicle braking supplier 3.
- Total liquidity has been supported by a recent share offering, which gives time for development 3.
Weaknesses
Opportunities
- Expansion into optical connectivity for AI data centers opens a new market for silicon photonics technology 3.
- Autonomous freight and industrial automation could create demand for precision sensors if customer projects reach production 1.
- Cooperation with a component maker and other partners could speed up production scaling 12.
Risks
- Dependence on customer programshigh
Revenue depends on the success and timing of customer development programs, which can be delayed or abandoned 1.
- Persistent net losseshigh
The company does not expect near-term profitability and has reported net losses every year since its founding 1.
- Need for additional capitalmedium
If margins fall short of expectations, the company could need new debt or equity financing on less favorable terms for shareholders 12.
- Product liability and warrantymedium
Product complexity can hide defects that could lead to warranty costs and liability claims 1.
- Change in finance leadershiplow
The departure of the CFO and the appointment of an interim may disrupt financial planning during the transition 3.
Investment thesis
What would need to be true (bull case)
- If Level 3 and Level 4 automated driving programs reach series production, the company could quickly turn prototype revenue into recurring sales 1.
- Diversification into optical connectivity for AI data centers could add a new revenue source if the joint development agreement turns into orders 3.
- The technical advantage of instant velocity measurement could support wider industry adoption if performance is confirmed at scale 1.
What would break the thesis
- The company has not yet reached significant commercial production, and quarterly revenue remains very small compared with spending 13.
- Large operating losses and the need for capital could dilute shareholders if scaling is delayed 12.
- Competition from established technologies and automaker in-house programs could reduce prices and market share 1.
What to watch
- Numirea unui director financiar permanentQ3 2026
- Quarterly revenue and gross margin trendQ3 2026
- Progress of the joint development agreement for optical connectivity2027
- Appointment of a permanent CFOQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results).
The business
Aeva, founded in 2017 by former Apple engineers, designs and sells FMCW LiDAR systems that measure the instant velocity and distance of every point. The technology combines silicon photonics, a proprietary signal-processing ASIC and perception software on a single chip 1. For now most customers buy prototypes and engineering services for their research and development programs rather than series products 1. The company is scaling production through third-party manufacturers 2.
Segments
Automotive
The main product is Aeva Atlas, a 4D LiDAR built for series production with detection up to 500 meters, while Atlas Ultra, with up to three times the resolution, targets Level 3 and Level 4 automated driving 1. A large European passenger carmaker selected Aeva as exclusive LiDAR supplier for a series Level 3 platform 1.
Industrial automation and smart infrastructure
The Aeva Eve line offers non-contact displacement sensors with micrometer precision, launched as the first FMCW sensor for high-volume industrial automation, and Atlas Orion covers transport infrastructure and security 1. The new optical connectivity business for AI data centers, launched in the second quarter of 2026, is still in joint development 3.
Market context
The target market includes advanced driver assistance and autonomous driving for passenger and freight vehicles, as well as industrial automation, where LiDAR sensors could replace more expensive solutions 1. Regulation and demand for autonomous transport remain decisive for adoption, and Aeva describes the market as still at an early stage 1.
Trends
- Adoption of Level 3 and Level 4 automated drivingtailwind
Carmakers and truck makers are working with technology companies on automated driving systems, which could create demand for long-range LiDAR sensors 1.
- Autonomous freight in North Americatailwind
The autonomous trucking industry is expanding, and demand from logistics and construction supports the need for long-distance detection on highways 1.
- Long design-to-production cyclesheadwind
Years can pass between a product selection in a program and actual implementation, which delays revenue and can lead to cancellations or postponements 1.
- Price pressure and cost reduction at automakersmixed
Carmakers demand lower prices and can re-source or cancel programs, which could compress the company's already negative margins 12.
Competitive position
The company faces time-of-flight LiDAR producers, which dominate the current market, as well as other FMCW LiDAR developers and in-house LiDAR programs at some automakers 1. Aeva argues its FMCW technology offers advantages in instant velocity, range and immunity to interference, but these advantages must be confirmed in series production 1.
- Time-of-flight LiDAR producers
Makers of ToF LiDAR sensors, which Aeva considers to have performance or cost limitations 1.
- Other FMCW LiDAR developers
Companies with similar FMCW solutions competing for the same automation programs 1.
- In-house automaker LiDAR programs
Some carmakers develop their own LiDAR, which could shrink the market open to outside suppliers 1.
- Commercial-vehicle ADAS suppliers
Established ADAS suppliers for commercial trucks may choose competing solutions for their next generation of products 3.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report05 Aug 2026Results of operations · Departure or appointment of officers · Financial statements and exhibits
- Current report25 Jun 2026Shareholder vote
- Current report04 Jun 2026Material agreement · Other events · Financial statements and exhibits
- Current report01 Jun 2026Departure or appointment of officers
- Quarterly report08 May 2026
- Current report06 May 2026Results of operations · Financial statements and exhibits
- Proxy statement29 Apr 2026
- Annual report20 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Aeva Technologies, Inc. · 20 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Aeva Technologies, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Aeva Technologies, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.