Recent News
On June 3–5 the company launched and closed a follow-on offering, completing an underwritten placement that raised approximately $115 million. On June 2 Aeva reported an integration of its Eve precision technology into SICK’s industrial sensing product line. On August 5 the company announced the launch of an Optical Connectivity business and a joint-development agreement with a major hyperscaler to apply its high‑power optical source and silicon photonics in AI data centers.
Technical Analysis
ADX at 19.36 indicates no dominant trend, reducing conviction for breakout scenarios while elevating the importance of directional indicators for short-term bias.
DI+ sits at 22.26 and is decreasing while DI- sits at 26.35 and is increasing, producing a directional bias toward sellers; this directional split supports downward pressure relative to the valuation and the introduction of new corporate initiatives.
MACD at -0.76 with a declining MACD_trend and a signal line at -0.13 shows bearish momentum; MACD remains below its signal line, reinforcing short-term negative momentum for price action.
MRO registers 11.66 with a peak-and-reversal pattern and positive value, which implies price presently remains above the model target and carries downward potential toward fair-value measures derived below.
RSI at 46.2 and falling indicates below‑neutral momentum without oversold conditions, suggesting room for additional downside before momentum-driven rebounds appear.
Price measures sit below short‑ and medium‑term averages: the 12‑day EMA at $18.59 and the 20/50‑day averages near $20.37/$20.40, while the 200‑day average at $16.95 sits slightly above the last close at $16.39; this configuration aligns with the bearish momentum signals and reduces the likelihood of an immediate sustained rally absent new catalysts.
High short‑term beta (42‑day 5.78, 52‑week 3.99) signals elevated sensitivity to market swings; volume near the 10‑day average provides no clear validation of trend change at present.
Fundamental Analysis
Revenue totaled $6.14 million for the period ending June 30, 2026, with reported revenue growth of -2.01% year‑over‑year and a quarter‑over‑quarter change of -117.64%. Gross profit stood at $2.19 million, producing a gross margin of 35.68%, which remains close to the industry peer mean and median gross margins in the data set.
Operating metrics reflect ongoing investment and negative profitability: EBIT of -$78.37 million yields an EBIT margin of -12.77%, versus an industry peer mean EBIT margin of 14.76% and a peer median of 16.49%; QoQ the EBIT margin expanded by +136.88% from a very low base, but absolute profitability remains negative.
Net income registered a loss of -$79.62 million. EPS came in at -$0.41 versus an estimate of -$0.43, producing an EPS surprise of $0.02 or approximately +4.65%.
Cash and liquidity position provides material runway: cash and short‑term investments totaled $177.89 million and cash alone measured $43.24 million, supporting a current ratio of 7.85x and a quick ratio of 7.63x—both well above the industry peer means—while net debt held at $53.66 million.
Leverage and capital structure show elevated risk: total debt $102.37 million produces a debt‑to‑assets ratio of 44.94% and a debt‑to‑equity ratio of 371.85%, indicating high leverage relative to book equity despite ample cash reserves.
R&D expense of $24.89 million underscores ongoing product development, matched by operating cash flow negative $31.17 million and free cash flow negative $31.35 million; free cash flow yield stands at -2.36%. WMDST values the stock as over‑valued given current fundamentals and comparables.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-05 |
| NEXT REPORT DATE: | 2026-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 31.2 M |
| Operating Cash Flow | $ -31.17 M | |
| Capital Expenditures | $ -185.00 K | |
| Change In Working Capital | $ -8.44 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 12.1 M | |
| End Period Cash Flow | $ 43.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 6.1 M | |
| Forward Revenue | $ 529.4 K | |
| COSTS | ||
| Cost Of Revenue | $ 3.9 M | |
| Depreciation | $ 2.0 M | |
| Depreciation and Amortization | $ 1.8 M | |
| Research and Development | $ 24.9 M | |
| Total Operating Expenses | $ 40.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 2.2 M | |
| EBITDA | $ -76.52 M | |
| EBIT | $ -78.37 M | |
| Operating Income | $ -34.56 M | |
| Interest Income | $ 893.0 K | |
| Interest Expense | $ 1.2 M | |
| Net Interest Income | $ -303.00 K | |
| Income Before Tax | $ -79.57 M | |
| Tax Provision | $ 58.0 K | |
| Tax Rate | 40.0 % | |
| Net Income | $ -79.62 M | |
| Net Income From Continuing Operations | $ -79.62 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.43 | |
| EPS Actual | $ -0.41 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 4.651 % | |
| Forward EPS | $ -0.40 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 227.8 M | |
| Intangible Assets | $ 375.0 K | |
| Net Tangible Assets | $ 27.2 M | |
| Total Current Assets | $ 203.7 M | |
| Cash and Short-Term Investments | $ 177.9 M | |
| Cash | $ 43.2 M | |
| Net Receivables | $ 3.7 M | |
| Inventory | $ 5.7 M | |
| Long-Term Investments | $ 31.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 7.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 26.0 M | |
| Net Debt | $ 53.7 M | |
| Total Debt | $ 102.4 M | |
| Total Liabilities | $ 200.3 M | |
| EQUITY | ||
| Total Equity | $ 27.5 M | |
| Retained Earnings | $ -871.89 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 0.40 | |
| Shares Outstanding | 68.358 M | |
| Revenue Per-Share | $ 0.09 | |
| VALUATION | Market Capitalization | $ 1.3 B |
| Enterprise Value | $ 1.3 B | |
| Enterprise Multiple | -16.39 | |
| Enterprise Multiple QoQ | -43.824 % | |
| Enterprise Multiple YoY | -43.599 % | |
| Enterprise Multiple IPRWA | high: 262.761 median: 110.654 mean: 105.739 AEVA: -16.39 low: -146.873 |
|
| EV/R | 204.4 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 8.274 | |
| Asset To Liability | 1.137 | |
| Debt To Capital | 0.788 | |
| Debt To Assets | 0.449 | |
| Debt To Assets QoQ | -35.137 % | |
| Debt To Assets YoY | 2142.515 % | |
| Debt To Assets IPRWA | high: 0.705 AEVA: 0.449 median: 0.235 mean: 0.208 low: 0.006 |
|
| Debt To Equity | 3.719 | |
| Debt To Equity QoQ | -145.214 % | |
| Debt To Equity YoY | -24152.587 % | |
| Debt To Equity IPRWA | AEVA: 3.719 high: 1.639 median: 0.57 mean: 0.524 low: -0.8 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 48.301 | |
| Price To Book QoQ | -164.571 % | |
| Price To Book YoY | -672.362 % | |
| Price To Book IPRWA | AEVA: 48.301 high: 17.779 median: 12.106 mean: 9.767 low: -2.382 |
|
| Price To Earnings (P/E) | -47.444 | |
| Price To Earnings QoQ | 80.278 % | |
| Price To Earnings YoY | -4.829 % | |
| Price To Earnings IPRWA | high: 454.629 mean: 167.312 median: 112.447 AEVA: -47.444 low: -148.034 |
|
| PE/G Ratio | — | |
| Price To Sales (P/S) | 216.707 | |
| Price To Sales QoQ | 46.191 % | |
| Price To Sales YoY | 19.749 % | |
| Price To Sales IPRWA | AEVA: 216.707 high: 91.147 median: 33.752 mean: 27.684 low: 0.798 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -49.475 | |
| Forward PE/G | — | |
| Forward P/S | 2432.976 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -65.657 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.033 | |
| Asset Turnover Ratio QoQ | -14.569 % | |
| Asset Turnover Ratio YoY | -38.932 % | |
| Asset Turnover Ratio IPRWA | high: 0.547 mean: 0.201 median: 0.148 AEVA: 0.033 low: 0.003 |
|
| Receivables Turnover | 1.713 | |
| Receivables Turnover Ratio QoQ | -6.784 % | |
| Receivables Turnover Ratio YoY | -27.425 % | |
| Receivables Turnover Ratio IPRWA | high: 2.33 AEVA: 1.713 median: 1.607 mean: 1.604 low: 0.626 |
|
| Inventory Turnover | 0.675 | |
| Inventory Turnover Ratio QoQ | -8.047 % | |
| Inventory Turnover Ratio YoY | -69.075 % | |
| Inventory Turnover Ratio IPRWA | high: 2.694 mean: 0.92 median: 0.858 AEVA: 0.675 low: 0.165 |
|
| Days Sales Outstanding (DSO) | 53.284 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 50.982 | |
| Cash Conversion Cycle Days QoQ | -19.298 % | |
| Cash Conversion Cycle Days YoY | 148.532 % | |
| Cash Conversion Cycle Days IPRWA | high: 389.683 mean: 105.977 median: 93.299 AEVA: 50.982 low: -166.342 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.035 | |
| CapEx To Revenue | -0.03 | |
| CapEx To Depreciation | -0.09 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 124.4 M | |
| Net Invested Capital | $ 124.4 M | |
| Invested Capital | $ 124.4 M | |
| Net Tangible Assets | $ 27.2 M | |
| Net Working Capital | $ 177.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 6.852 | |
| Current Ratio | 7.846 | |
| Current Ratio QoQ | 91.609 % | |
| Current Ratio YoY | 1114.141 % | |
| Current Ratio IPRWA | high: 13.249 AEVA: 7.846 mean: 2.451 median: 1.813 low: 0.516 |
|
| Quick Ratio | 7.626 | |
| Quick Ratio QoQ | 95.837 % | |
| Quick Ratio YoY | 1146.896 % | |
| Quick Ratio IPRWA | high: 11.184 AEVA: 7.626 mean: 1.838 median: 1.244 low: 0.332 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1.338 | |
| Cost Of Debt | 0.702 % | |
| Interest Coverage Ratio | -65.527 | |
| Interest Coverage Ratio QoQ | 129.588 % | |
| Interest Coverage Ratio YoY | -98.124 % | |
| Interest Coverage Ratio IPRWA | high: 99.542 mean: 12.186 median: 7.904 low: -25.939 AEVA: -65.527 |
|
| Operating Cash Flow Ratio | -2.892 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 125.767 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 54.646 % | |
| Revenue Growth | -2.012 % | |
| Revenue Growth QoQ | -117.643 % | |
| Revenue Growth YoY | -103.162 % | |
| Revenue Growth IPRWA | high: 57.54 % mean: 9.971 % median: 8.711 % AEVA: -2.012 % low: -22.909 % |
|
| Earnings Growth | 0.0 % | |
| Earnings Growth QoQ | -100.0 % | |
| Earnings Growth YoY | -100.0 % | |
| Earnings Growth IPRWA | high: 200.0 % mean: 9.207 % median: 7.527 % AEVA: 0.0 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 35.675 % | |
| Gross Margin QoQ | 15.095 % | |
| Gross Margin YoY | -172.281 % | |
| Gross Margin IPRWA | high: 86.78 % mean: 39.147 % median: 36.138 % AEVA: 35.675 % low: -8.541 % |
|
| EBIT Margin | -1277.216 % | |
| EBIT Margin QoQ | 136.877 % | |
| EBIT Margin YoY | 101.55 % | |
| EBIT Margin IPRWA | high: 29.361 % median: 16.493 % mean: 14.761 % low: -101.864 % AEVA: -1277.216 % |
|
| Return On Sales (ROS) | -563.233 % | |
| Return On Sales QoQ | 0.38 % | |
| Return On Sales YoY | -11.119 % | |
| Return On Sales IPRWA | high: 29.361 % median: 15.494 % mean: 14.044 % low: -101.864 % AEVA: -563.233 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -31.35 M | |
| Free Cash Flow Yield | -2.358 % | |
| Free Cash Flow Yield QoQ | -22.024 % | |
| Free Cash Flow Yield YoY | -24.592 % | |
| Free Cash Flow Yield IPRWA | high: 2.95 % median: 0.852 % mean: 0.588 % AEVA: -2.358 % low: -7.33 % |
|
| Free Cash Growth | 11.68 % | |
| Free Cash Growth QoQ | -37.396 % | |
| Free Cash Growth YoY | -6089.744 % | |
| Free Cash Growth IPRWA | high: 230.113 % median: 15.971 % AEVA: 11.68 % mean: -29.38 % low: -359.143 % |
|
| Free Cash To Net Income | 0.394 | |
| Cash Flow Margin | -1223.517 % | |
| Cash Flow To Earnings | 0.943 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -42.455 % | |
| Return On Assets QoQ | 98.443 % | |
| Return On Assets YoY | -77.346 % | |
| Return On Assets IPRWA | high: 5.859 % mean: 2.046 % median: 1.741 % low: -15.317 % AEVA: -42.455 % |
|
| Return On Capital Employed (ROCE) | -38.83 % | |
| Return On Equity (ROE) | -2.892 | |
| Return On Equity QoQ | -202.605 % | |
| Return On Equity YoY | -277.34 % | |
| Return On Equity IPRWA | high: 0.149 mean: 0.05 median: 0.045 low: -0.189 AEVA: -2.892 |
|
| DuPont ROE | -1053.25 % | |
| Return On Invested Capital (ROIC) | -37.791 % | |
| Return On Invested Capital QoQ | 57.417 % | |
| Return On Invested Capital YoY | -261.88 % | |
| Return On Invested Capital IPRWA | high: 4.276 % median: 3.323 % mean: 2.896 % low: -4.912 % AEVA: -37.791 % |
|