EHang Holdings Restricted is among the main passenger eVTOL firms on the earth.
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On the EHang Q2 2022 earnings name final week, firm executives talked about what’s subsequent for the corporate pioneering aerial tourism and extra in Asia.
EHang Holdings Restricted [NASDAQ:EH] is held within the AdvisorShares Drone Expertise ETF [NYSE ARCA:UAV], the one ETF devoted to the drone financial system. The AdvisorShares Drone Expertise ETF is a thematic funding technique looking for to seize the expansion alternatives in drones and autonomous autos (AV). AdvisorShares is a DRONELIFE sponsor.
Since introducing the primary EHang passenger eVTOL on the CES in 2016, the corporate has been on the forefront of creating passenger eVTOLs for purposes that vary from emergency response to aerial tourism. On the Q2 earnings name, firm executives mentioned that they’re near attaining a first-of-its-kind airworthiness certificates from China’s airspace authorities – a step ahead which can open the skies for EHang.
CEO Hu Huazhi mentioned that throughout the pandemic, EHang “actively tailored to the macro atmosphere at dwelling and overseas,” increasing “our orders, preorders, deliveries and prospects, particularly in China and Southeast Asia,” and driving income up by over 150% from Q1.
Whereas the corporate is actively promoting, they’re centered on airworthiness certification for the EHang 216-S, a automobile designed for on-deman autonomous air journey in city areas. In accordance with Huazhi, certification is shut: “Each the CAAC and Guangdong authorities have clearly put pushing forwards related UEM pilot challenge and strongly pushing ahead EHang 216-S AAV kind certification course of,” he mentioned.
COO Fang Xin defined the significance of the certification. The 216-S is the plane at present used for a trial “scenic flight challenge,” which takes vacationers up for a birds-eye view of the native panorama. As tourism recovers from the pandemic, greater than 5,700 operational flights of the EH216 have operated on a trial foundation from 11 operational hubs: the shopper, nevertheless, plans to extend their fleet from 5 plane to 30.
“After acquiring the airworthiness certificates, EHang 216 is predicted to offer our tourism prospects and finish customers with a novel, protected, technologically superior, price efficient and nice low altitude flight tourism resolution and expertise,” mentioned Xin.
All advised, EHang has obtained greater than 200 preorders for his or her passenge eVTOLs.
Abstract of the highlights (numbers offered in RMB) from CFO Richard Liu:
- In Q2 of 2022, whole revenues had been RMB14.6 million, representing a rise of 152.5% from RMB5.8 million in Q1. This was together with a 166.7% enhance in EHang 216 AAV deliveries in Q2 to eight models from three models in Q1.
- In Q2, adjusted working bills, that are working bills excluding share-based compensation bills, had been RMB63.4 million in contrast with RMB46.1 million in Q1. The rise was primarily attributed to steady R&D of latest AAV fashions and the continuing EHang 216 certification course of, each of that are progressing steadily {and professional} service charges associated to annual report submitting and different authorized issues and extra provisions for accounts receivable in gentle of affect from the continuing COVID-19 epidemic and the management measures in China.
- In Q2, adjusted working loss was RMB51.2 million in contrast with RMB41.7 million.
- Adjusted internet loss was RMB50.8 million in Q2 in contrast with RMB40.9 million in Q1.
- Stability sheet: RMB240.7 million of money, money equivalents, restricted money, and short-term investments as of the tip of Q2.
Learn extra about EHang:
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, knowledgeable drone companies market, and a fascinated observer of the rising drone business and the regulatory atmosphere for drones. Miriam has penned over 3,000 articles centered on the industrial drone area and is a global speaker and acknowledged determine within the business. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand new applied sciences.
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