Stock Track | Eve Holding Soars 16.67% as eVTOL Development Progresses and New Funding Secured

Stock Track08-06

Eve Holding Inc. (NYSE: EVEX), an aerospace company focused on developing electric vertical take-off and landing (eVTOL) aircraft and urban air mobility solutions, saw its stock surge 16.67% during intraday trading on Monday.

The company reported its second quarter 2024 financial results, revealing a net loss of $36.4 million, higher than the $31.4 million loss in the same quarter last year. This increase was primarily driven by higher research and development (R&D) expenses, which rose to $36.3 million from $21.8 million in Q2 2023, as the company intensified its efforts in developing its eVTOL aircraft and urban air mobility ecosystem.

Eve Holding's R&D expenses were fueled by the Master Services Agreement with Embraer, which performs several developmental activities, including the assembly of the first full-scale prototype, engineering, program development, and testing infrastructure expenses. The company's selling, general, and administrative (SG&A) expenses decreased to $5.4 million from $6.6 million in Q2 2023, primarily due to lower outsourced services, payroll costs, and insurance expenses.

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(NYSE: EVEX), an aerospace company focused on developing electric vertical take-off and landing (eVTOL) aircraft and urban air mobility solutions, saw its stock surge 16.67% during ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EVEX","symbol_name":"Eve Holding","start_time":0,"source_url":"","article_id":"1164986222","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1164986222","pubTimestamp":1722951491,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Eve Holding Inc. , an aerospace company focused on developing electric vertical take-off and landing  aircraft and urban air mobility solutions, saw its stock surge 16.67% during intraday trading on Monday.The company reported its second quarter 2024 financial results, revealing a net loss of $36.4 million, higher than the $31.4 million loss in the same quarter last year. 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