Aptera Motors Corp. (NASDAQ:SEV), the solar-electric vehicle developer pursuing ultra-efficient mobility, reported a smaller adjusted loss for the third quarter of 2025, easing investor concerns as the company moves closer to validation and eventual production. Shares climbed 5.45% in pre-market trading following the update.
The company recorded an adjusted net loss of -$0.12 per share for the quarter, performing better than expected while continuing work on its validation program. Aptera ended the period with $12.0 million in cash and cash equivalents, and recognized $2.5 million in other income, largely tied to a grant from the California Energy Commission.
“Our third quarter was focused on disciplined execution as we prepared for our transition to a public company,” said Chris Anthony, Co-CEO of Aptera. “We’ve begun building out our validation line and managed our cash burn, supported by $2.5 million in grant funding from the California Energy Commission.”
Operating expenses fell to $7.9 million, down from $8.3 million a year earlier. The company reported a GAAP net loss of -$0.23 per share, or $5.5 million, an improvement from -$0.35 per share, or $8.2 million, in the third quarter of 2024.
After quarter-end, Aptera officially began trading on the Nasdaq Capital Market on October 16 and secured an equity line of credit of up to $75 million, offering a potential future source of capital. Still, the company cautioned in its latest 10-Q filing that its existing cash levels “raises substantial doubt about the Company’s ability to continue as a going concern.”
Aptera said its near-term focus remains on completing its validation vehicle assembly line and building its validation fleet with production-intent components—key steps toward launching its solar-powered electric vehicle.