EHang Holdings Limited (NASDAQ:EH) saw its shares decline 10.34% in pre-market trading Tuesday after reporting second-quarter revenue that fell slightly below analyst expectations, despite strong year-over-year and sequential growth.
The urban air mobility firm posted revenue of RMB147.2 million ($20.5 million) for Q2, missing the RMB150.93 million consensus estimate. Nonetheless, this represented a 44.2% increase from the same period last year and a remarkable 464.0% jump compared with Q1. During the quarter, EHang delivered 68 units of its EH216 series aircraft, up from 49 in the prior-year quarter and 11 in Q1.
EHang reported adjusted earnings per share of RMB0.07, substantially beating the analyst projection of -RMB0.87, and maintained a gross margin of 62.6%, consistent with previous quarters.
“In the second quarter, we achieved an increased delivery volume of 68 units of EH216 series products, a strong rebound from the first quarter—a clear reflection of the sales ramp-up following the issuance of our OC,” said Huazhi Hu, Founder, Chairman and CEO of EHang.
The company revised its 2025 revenue guidance downward to around RMB500 million, reflecting a strategic focus on expanding commercial eVTOL operations and developing operational demonstration models.
“As we are laying the groundwork for expanding commercial eVTOL operations this year, we are prudently revising our 2025 revenue guidance to approximately RMB500 million,” said Conor Yang, Chief Financial Officer of EHang.
During the quarter, EHang also strengthened its liquidity by raising US$23.8 million via an at-the-market equity offering. In addition, it expanded technology partnerships with Gotion High-Tech, Minth Group, and Tsinghua University, while establishing a VT35 series product hub in Hefei in collaboration with local government authorities.
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