China's EHang Q1 revenue dips on lower sales volume

EHang Holdings

09/06/2026 08:17

Overview
China air mobility platform's Q1 revenue dipped slightly yr/yr on lower eVTOL deliveries
Adjusted net loss widened yr/yr as operating expenses increased
Company approved US$30 mln share buyback program

Outlook
EHang maintains 2026 annual revenue guidance at around RMB600 mln
Company expects continued progress toward public commercial operations and expanding international opportunities
EHang plans to launch EH216-S crew training program upon CAAC approval

Result Drivers
LOWER AIRCRAFT DELIVERIES - Revenue fell mainly due to a sharp drop in EH216 series eVTOL deliveries
OPERATING EXPENSES - Higher operating expenses driven by workforce expansion, increased employee compensation, and R&D spending, especially for VT35 development
AERIAL MEDIA GROWTH - Aerial media solutions contributed about 40% of revenue, reflecting increased market adoption and a more diversified revenue mix

Company press release: ID:nGNX4wWXKx

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
RMB 25.70 mln
 
Q1 Adjusted Net Income
 
-RMB 75.60 mln
 
Q1 Net Income
 
-RMB 126.40 mln
 
Q1 Adjusted Operating Income
 
-RMB 77.10 mln
 
Q1 Gross Profit
 
RMB 16 mln
 
Q1 Operating Income
 
-RMB 127.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for EHang Holdings Ltd is $17.00, about 95.2% above its June 8 closing price of $8.71
The stock recently traded at 64 times the next 12-month earnings vs. a P/E of 56 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)