EHang Holdings Ltd. Sponsored ADR Class A (EH.US) eVTOL quarterly delivery volume hits a record high, with annual revenue increasing by 288.5%.

EHang Holdings Ltd. Sponsored ADR Class A (EH.US) announced its fourth-quarter 2024 financial results before the US stock market opened on Wednesday, with the company achieving record-high quarterly and annual revenue growth of 190.2% and 288.5% respectively. The company delivered 216 eVTOLs (Electric Vertical Takeoff and Landing aircraft) in the year, with 78 EH216 series eVTOLs delivered in the quarter, setting a new record for single-quarter deliveries. Additionally, the company achieved profitability under Non-GAAP guidelines for three consecutive quarters and for the first time in a full year, as well as positive operating cash flow for five consecutive quarters and for the first time in a full year. Looking ahead, the company expects revenue of approximately 900 million Chinese yuan for the fiscal year 2025, suggesting a 97% year-over-year growth. In terms of recent delivery data for EHang Holdings Ltd. Sponsored ADR Class A: the company set a record for EH216 series eVTOL deliveries, with 78 EH216 series eVTOLs delivered in the fourth quarter, representing a 239.1% increase from the same quarter in 2023 and a 23.8% increase from the third quarter of 2024. The company also achieved a record-high total revenue in the fourth quarter, reaching a record 1.643 billion Chinese yuan (approximately 225 million US dollars), a 190.2% increase from the fourth quarter of 2023 and a 28.2% increase from the third quarter of 2024. Adjusted operating profit in the fourth quarter (under Non-GAAP guidelines) significantly increased to approximately 27.9 million Chinese yuan (approximately 3.8 million US dollars), showing a marked improvement from the adjusted operating loss of 24.9 million Chinese yuan in the fourth quarter of 2023, and a significant growth of 208.2% from the third quarter of 2024. The annual delivery volume for the EH216 series also substantially increased, with a total of 216 EH216 series eVTOLs delivered in 2024, representing a 315.4% increase from 2023. The annual total revenue for 2024 reached a record 4.562 billion Chinese yuan (approximately 625 million US dollars), a 288.5% increase from 2023. The company's full-year adjusted operating profit (under Non-GAAP guidelines) was approximately 19.7 million Chinese yuan (approximately 2.7 million US dollars), showing a significant improvement from the adjusted operating loss of 1.448 billion Chinese yuan in 2023. The adjusted net profit (under Non-GAAP guidelines) was approximately 43.1 million Chinese yuan (approximately 5.9 million US dollars), a significant improvement from the adjusted net loss of 1.388 billion Chinese yuan in 2023, marking the company's first full-year Non-GAAP profit since its establishment. Goldman Sachs Group, Inc. previously noted in a research report that EHang Holdings Ltd. Sponsored ADR Class A's flagship product EH216-S unmanned passenger aircraft has received the Type Certificate (TC) and Production Certificate (PC) from the Civil Aviation Administration of China. The company's Guangdong EHang General Aviation Co., Ltd. and Hefei EHang Aviation Co., Ltd. submitted an Operating Certificate (OC) in July last year, which may be approved in 2025. Goldman Sachs Group, Inc. stated that this is a significant milestone for EHang Holdings Ltd. Sponsored ADR Class A and EH216-S in achieving commercial operations in the tourism/transportation sector, which would accelerate deliveries and orders to other customers.