EHang Reports Second Quarter 2024 Unaudited Financial Results
Sales and deliveries of EH216 series products were 49 units, the highest quarterly delivery volume in the Company’s history, compared with 5 units in the second quarter of 2023, and 26 units in the first quarter of 2024.
Total revenues reached a record high of RMB102.0 million (US$14.0 million), representing an increase of 919.6% from RMB10.0 million in the second quarter of 2023, and an increase of 65.3% from RMB61.7 million in the first quarter of 2024.
Gross margin was 62.4%, representing a 2.2 percentage points increase from 60.2% in the second quarter of 2023, and a 0.5 percentage points increase from 61.9% in the first quarter of 2024.
Operating loss was RMB77.4 million (US$10.7 million), representing a slight increase of 2.8% from RMB75.3 million in the second quarter of 2023 and an increase of 17.6% from RMB65.8 million in the first quarter of 2024.
Adjusted operating loss (non-GAAP) was RMB4.7 million (US$0.6 million), representing a 90.9% improvement from RMB51.3 million in the second quarter of 2023, and a 62.9% improvement from RMB12.6 million in the first quarter of 2024.
Net loss was RMB71.6 million (US$9.9 million), representing a 5.4% improvement from RMB75.7 million in the second quarter of 2023, and a 13.0% increase from RMB63.4 million in the first quarter of 2024.
Aug. 22, 2024