Eve Holding Q3 Loss Widens Sharply As Costs Weigh

Eve Holding Inc EVEX reported a third-quarter FY22 net loss of $(36.7) million versus a loss of $(3.8) million in 3Q21.
Net loss per share for the quarter was $(0.14) versus $(0.02) last year.
The selling, general and administrative expenses expanded to $(6.8) million from $(0.9) million a year ago.
North America constituted about 46% of its (Electric Vehicle Take Off and Landing) eVTOL aircraft orders.
The operating loss for the quarter was $(38.6) million versus a loss of $(3.7) million last year.
The company held $77.9 million in cash and equivalents as of September 30, 2022.
Net cash used in operating activities for the quarter totaled $(17) million.
The company has received the support of Brazil's National Development Bank for its eVTOL development with two distinct credit lines totaling $92.5 million.
Price Action: EVEX shares are trading higher by 1.48% at $7.53 on the last check Friday.
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