The following is a summary of the Eve Holding, Inc. (EVEX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Eve Holding, Inc. incurred a net loss of $39 million in Q4 2023, bringing the yearly total to $127 million.

• They generated $25 million in cash flow from operations for the quarter and $95 million for the year, with $241 million in cash remaining at the end of Q4.

• The company drew $15 million from a pre-approved credit line with the Brazilian Development Bank, leaving $75 million unused.

• Total liquidity was $316 million at the end of 2023, sufficient to support operations until the end of 2025.

• Anticipated cash consumption for 2024 is projected to be in the range of $130 million to $170 million due to elevated development activity.

Business Progress:

• Eve Holding has entered the Joint Definition Phase (JDP) for its eVTOL aircraft.

• In the UK, a 5-day Urban Air Traffic Management trial was carried out to validate their software.

• Contracts with various partners have been signed, securing a consistent supply for integral eVTOL parts.

• Eve has received Letters of Intent for 2,850 aircraft from 14 customers and has secured contracts worth $660 million in services over the next five years.

• The company plans to receive certification and make its first delivery by 2026.

• For 2024, Eve aims to complete full-scale prototype testing and finalize certification compliance with Brazilian authorities.

• Eve exceeded its previously announced milestones for 2023, including the selection of primary suppliers, freezing the configuration of the eVTOL, assembly of first prototype, and successful real-life testing of the UATM software.

• They are focused on converting Letters of Intent into firm orders and deposits.

• The company is set to start testing of the initial, non-conforming prototype of a product.

• Intensive thermal management is being developed for the EVtol system to ensure longer battery life and lower operational costs.

More details: Eve Holding IR

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