EHang Holdings Limited (NASDAQ:EH) shares are trading higher after it reported second-quarter results.
Revenue escalated 919.6% Y/Y to RMB102.0 million. In USD terms, revenue of $14.04 million beat the consensus of $12.58 million. Revenue benefitted from strong demand for the advanced EH216-S pilotless eVTOL vehicles.
Gross profit surged 957.3% Y/Y to RMB63.7 million ($8.7 million), with a gross margin of 62.4%, up 2.2 percentage points Y/Y.
Adjusted operating loss came in at RMB4.7 million ($0.6 million), an improvement of 90.9% Y/Y. Adjusted earnings per ADS came in at $0.002 vs. the consensus loss of $0.12.
The company disclosed sales and deliveries of 49 units of EH216 series products in the second quarter, marking the highest quarterly delivery volume in the company’s history, which rose significantly compared with five units in the second quarter of 2023.
As of June 30, cash and cash equivalents, short-term deposits, and short-term investment balances stood at ...
