EHang Shares Gain Post Q1 Results; Reveals Increasing Number Of Pre-Orders

EHang Holdings Ltd (NASDAQ:EH) reported first-quarter FY22 revenues of RMB5.8 million ($0.9 million), compared with RMB8.7 million in 4Q21 and RMB22.78 million in 1Q21.
The gross margin was 62.5%, compared with 60.1% in 4Q21. The change reflects changes in the revenue mix.
Adjusted loss per ADS was $(0.12) or RMB(0.72) compared to RMB(0.24) a year ago.
Adjusted operating loss was RMB(41.7) million or $(6.4) million, compared with RMB(83.8) million in Q4 and RMB(17.34) million a year ago.
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The company held cash and equivalents of RMB236.9 million ($37.4 million) as of March 31, 2022.
Sales and deliveries of the EH216 AAVs were 3 units, compared with 4 units in Q4.
The company noted that under the 100 Air Mobility Routes Initiative, more than 4,800 operational trial flights of the EHang 216 have been conducted in practical scenarios at 9 operation spots in China to date.
"Excitingly, we welcomed our newly-appointed Chief Operating Officer Mr. Xin Fang on board in February, and saw growing AAV demand from broader Asian markets, with a total of up to 210 units of pre-orders obtained so far this year. This reflects the wide appeal of our products," commented Mr. Huazhi Hu, EHang's Founder, Chairman, and CEO.
Price Action: EH shares traded higher by 4.02% at $8.80 during the premarket session on Tuesday.

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