Aeva Technologies shares soared nearly 40% after the company reported a narrower-than-expected non-GAAP loss of $0.41 per share on revenue of $6.1 million for the second quarter, edging past analyst forecasts for a $0.43 per-share loss on $6 million in sales. GAAP losses improved to $1.23 per share from $3.49 a year earlier, while revenue grew 11% year over year. The company also announced the departure of CFO Saurabh Sinha, who is leaving for an opportunity outside the sensing industry. Investors appeared to focus on the earnings beat and Aeva’s expansion into optical connectivity for artificial intelligence applications, despite the company not being expected to turn a profit before 2030.
Aeva Technologies, Inc. Common StockQ2 earnings beat and narrower loss
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