Eve flies full-scale eVTOL prototype but removes 2027 service date; raises $376M, burns $160M

Filed March 16, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 11, 2025 · ~2 min read

Key Changes

• high

  Eve flew its full-scale eVTOL prototype in December 2025, a major technical milestone demonstrating the aircraft has advanced from ground testing to actual flight operations.

  Business: full-scale prototype flight verify on EDGAR →
• high

  Entry-into-service timeline changed from specific '2027' target to vague 'upcoming years,' suggesting potential delays or uncertainty in certification and commercialization schedule.

  Business: entry-into-service timeline verify on EDGAR →
• high

  Operating cash burn increased 18% to $160M while net loss widened 62% to $224M, driven by 50% increase in R&D spending to $195M as development program accelerates.

  Notes: net cash used by operating activities verify on EDGAR →