EHang Holdings Ltd. Sponsored ADR Class A (EH.US) Q3 revenue surged by 348% year-on-year, and net losses narrowed by 28% year-on-year.

Before the market opened on Monday, EHang Holdings Ltd. Sponsored ADR Class A (EH.US) announced its third quarter performance. The data showed that the company's Q3 revenue reached 128.1 million yuan (18.3 million USD), a year-on-year increase of 347.8%; net loss was 48.1 million yuan, a year-on-year decrease of 28.3%; adjusted earnings per ADS were 0.22 yuan. Sales and delivery volume of the EH216 series products reached 63 units, the highest quarterly delivery volume in the company's history, compared to 13 units in Q3 2023 and 49 units in Q2 2024. As of September 30, 2024, the balance of cash and cash equivalents, short-term deposits, restricted short-term deposits, and short-term investments was 1.0776 billion yuan (153.6 million USD). Operating cash flow remained positive in the third quarter of 2024. This is the fourth consecutive quarter that the company has generated positive operating cash flow. Looking ahead, EHang Holdings Ltd. Sponsored ADR Class A forecasts revenue of 135 million yuan in the fourth quarter of 2024, a year-on-year increase of 138.5%. The company also predicts that total revenue for the full year of 2024 will reach 427 million yuan, a year-on-year increase of 263.5%. As of the time of writing, EHang Holdings Ltd. Sponsored ADR Class A was up 5.08% in pre-market trading, at 17.39 USD.