Eve Air Mobility(NYSE:EVEX) 
Eve Holding, Inc. develops urban air mobility solutions. It is involved in the design and production of eVTOLs; provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air...
Website: https://eveairmobility.com
Founded: 2020
Full Time Employees: 60
Sector: Industrials
Industry: Aerospace & Defense
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses | ||||||||||||||||||||
research and development expenses | 44,873,000 | 45,672,000 | 44,711,000 | 33,653,000 | 32,419,000 | 36,317,000 | 27,455,000 | |||||||||||||
selling, general and administrative expenses | 7,025,000 | 8,205,000 | 7,892,000 | 6,242,000 | 8,411,000 | 5,400,000 | 6,477,000 | |||||||||||||
total operating expenses | 51,898,000 | 53,877,000 | 52,603,000 | 39,895,000 | 40,830,000 | |||||||||||||||
operating income | -51,898,000 | -53,877,000 | ||||||||||||||||||
yoy | ||||||||||||||||||||
qoq | -3.67% | |||||||||||||||||||
gain from derivative liabilities | 6,441,000 | -9,471,000 | 3,315,000 | |||||||||||||||||
financial investment income | 4,144,000 | 3,541,000 | 3,914,000 | 4,338,000 | 3,629,000 | 1,996,000 | 2,337,000 | 2,632,963 | 2,802,189 | 2,982,448 | 3,254,400 | |||||||||
related party loan interest income | 430,000 | 1,222,000 | 1,222,000 | |||||||||||||||||
interest expense | -2,671,000 | -2,388,000 | ||||||||||||||||||
other loss | -1,657,000 | |||||||||||||||||||
income before income taxes | -45,641,000 | -64,251,000 | -11,651,910 | -1,842,472 | ||||||||||||||||
income tax expense | 1,225,000 | 435,000 | -938,000 | 427,000 | 395,000 | 623,000 | ||||||||||||||
net income | -46,866,000 | -64,685,000 | -11,781,618 | 5,396,780 | -3,400,064 | 8,017,261 | -1,842,472 | |||||||||||||
yoy | 539.45% | |||||||||||||||||||
qoq | -27.55% | -318.31% | -258.73% | -142.41% | -535.14% | |||||||||||||||
weighted-average shares outstanding – basic and diluted | 326,215,000 | |||||||||||||||||||
net income per share | -0.14 | -0.21 | -0.05 | |||||||||||||||||
other gain | -2,055,000 | 1,053,000 | ||||||||||||||||||
weighted-average shares outstanding - basic and diluted | 303,727,000 | |||||||||||||||||||
other (loss) gain | ||||||||||||||||||||
weighted-average number of shares outstanding – basic and diluted | 303,644,000 | 288,524,000 | 297,833,000 | 276,355,000 | 276,263,000 | 275,763,000 | 275,887,223 | 275,632,354 | 275,494,021 | 254,131,038 | 272,040,343 | 248,989,790 | ||||||||
gain from the change in fair value of derivative liabilities | 3,099,500 | 3,990,000 | 2,066,000 | 6,341,000 | ||||||||||||||||
other (loss)/gain | ||||||||||||||||||||
income from operations | -16,348,289 | -1,576,841 | -1,327,504 | -1,805,753 | -2,590,692 | |||||||||||||||
research and development | 17,997,914.5 | 28,642,065 | 21,821,255 | -9,835,736 | ||||||||||||||||
selling, general and administrative | 4,455,551.75 | 5,034,782 | 6,633,106 | -6,475,430 | ||||||||||||||||
new warrants expenses | ||||||||||||||||||||
gain from change in fair value of derivative liabilities | ||||||||||||||||||||
other financial gain | 947,464 | 1,616,035 | 1,149,332 | 1,024,490 | ||||||||||||||||
change in fair value of derivative liabilities | 3,420,000 | 285,000 | 4,132,525 | 6,952,500 | -2,078,500 | 9,817,100 | 742,400 | |||||||||||||
financial and foreign exchange gain | 3,829,436 | 2,028,854 | 563,854 | |||||||||||||||||
f-2 | ||||||||||||||||||||
other expenses | -37,123 | |||||||||||||||||||
income tax benefit | -129,708 | |||||||||||||||||||
general and administrative expenses | 1,576,841 | 1,327,504 | 1,805,753 | 2,590,692 | ||||||||||||||||
other income: | ||||||||||||||||||||
interest earned on investments held in trust account | 21,121 | 5,940 | 5,914 | 5,820 | ||||||||||||||||
total other income | 6,973,621 | -2,072,560 | 9,823,014 | 748,220 | ||||||||||||||||
basic and diluted weighted-average shares outstanding of class a common stock | 23,000,000 | 23,000,000 | 23,000,000 | |||||||||||||||||
basic and diluted net income per share, class a common stock | 0.19 | |||||||||||||||||||
basic and diluted weighted-average shares outstanding of class b common stock | 5,750,000 | 5,750,000 | 5,750,000 | |||||||||||||||||
basic and diluted net income per share, class b common stock | 0.19 | |||||||||||||||||||
basic and diluted net income per share, class a | -0.11 | 0.28 | ||||||||||||||||||
basic and diluted net income per share, class b | -0.11 | 0.28 | -0.32 | |||||||||||||||||
benefit for income taxes | ||||||||||||||||||||
weighted-average shares outstanding of class a redeemable common stock | 23,000,000 | |||||||||||||||||||
weighted-average shares outstanding of class b non-redeemable common stock | 5,750,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets | ||||||||||||||||||||
cash and cash equivalents | 103,233,000 | 65,845,000 | 41,534,000 | 59,510,000 | 56,366,000 | 24,572,000 | 27,763,000 | 23,588,000 | 46,882,000 | 10,097,318 | 33,591,771 | 11,837,193 | 49,146,063 | 77,941,371 | 176,316,554 | |||||
restricted cash | 8,380,000 | 1,582,000 | ||||||||||||||||||
financial investments | 280,845,000 | 344,229,000 | 201,204,000 | 228,096,000 | 247,012,000 | 255,258,000 | 93,234,000 | 114,714,000 | 111,218,000 | 164,448,485 | 150,782,326 | 199,119,647 | 178,781,549 | 170,354,049 | 154,464,652 | |||||
related party receivables | 54,000 | 3,000 | 472,000 | 19,000 | 99,000 | 191,000 | 1,624,098 | 313,762 | 198,509 | 203,712 | 205,358 | |||||||||
related party loan receivable | 85,486,000 | 84,264,000 | 83,042,000 | 81,805,950 | 84,641,828 | 83,640,600 | ||||||||||||||
other current assets | 18,362,000 | 13,081,000 | 7,396,000 | 10,040,000 | 8,957,000 | 5,685,000 | 3,875,000 | 1,601,000 | 889,000 | 1,586,393 | 1,461,953 | 740,699 | 1,425,507 | 2,974,478 | 166,085 | |||||
total current assets | 410,874,000 | 424,744,000 | 250,138,000 | 297,648,000 | 312,807,000 | 285,534,000 | 210,359,000 | 224,267,000 | 242,221,000 | 259,562,244 | 270,791,640 | 295,536,648 | 312,207,206 | 333,113,402 | 331,203,936 | 109,581 | 568,534 | 1,225,019 | 1,552,433 | 1,792,259 |
non-current assets | ||||||||||||||||||||
property, plant & equipment | 15,322,000 | 611,000 | 510,000 | 1,235,000 | 514,000 | 547,000 | 477,928 | 513,833 | 594,282 | 451,586 | 418,721 | |||||||||
right-of-use assets | 310,000 | 940,000 | 1,096,000 | 1,260,000 | 1,037,000 | 1,019,000 | 508,000 | 534,733 | 550,129 | 207,176 | 216,636 | |||||||||
deferred income taxes | 3,916,000 | 2,637,000 | 2,637,000 | |||||||||||||||||
other non-current assets | 4,434,000 | 3,359,000 | 2,532,000 | 1,901,000 | 1,091,000 | 504,000 | 212,000 | 811,000 | 348,000 | 976,467 | ||||||||||
total non-current assets | 24,002,000 | 14,932,000 | 10,854,000 | 6,533,000 | 5,435,000 | 3,988,000 | 4,198,000 | 4,058,000 | 3,118,000 | 1,989,128 | ||||||||||
total assets | 434,875,000 | 439,676,000 | 260,992,000 | 304,181,000 | 318,242,000 | 289,522,000 | 214,557,000 | 228,325,000 | 245,339,000 | 261,551,372 | 271,855,602 | 296,338,106 | 312,875,428 | 333,532,123 | 331,203,936 | 237,056,778 | 237,494,610 | 235,845,155 | 236,166,655 | 234,100,661 |
liabilities and equity | ||||||||||||||||||||
current liabilities | ||||||||||||||||||||
accounts payable | 3,828,000 | 2,303,000 | 2,209,000 | 663,000 | 1,136,000 | 3,916,000 | 2,822,000 | 1,648,000 | 4,571,000 | 1,832,288 | 2,350,540 | 490,148 | 2,097,097 | 2,963,007 | 889,594 | |||||
related party payables | 70,265,000 | 41,660,000 | 53,579,000 | 35,802,000 | 31,588,000 | 25,750,000 | 21,700,000 | 20,208,000 | 20,267,182 | 17,733,475 | 16,222,416 | 12,625,243 | 14,394,340 | |||||||
current portion of long-term debt | 3,374,000 | 794,000 | 543,000 | 129,000 | ||||||||||||||||
derivative financial instruments | 4,588,000 | 6,698,000 | 13,139,000 | 3,668,000 | 6,983,000 | 1,568,000 | 5,558,000 | 7,624,000 | 13,965,000 | 13,395,000 | 12,541,425 | 5,757,000 | 3,562,500 | 6,982,500 | 7,267,500 | |||||
other current payables | 42,713,000 | 32,625,000 | 24,631,000 | 15,422,000 | 17,697,000 | 20,203,000 | 14,240,000 | 13,245,000 | 10,664,611 | |||||||||||
total current liabilities | 124,769,000 | 81,480,000 | 90,176,000 | 82,671,000 | 59,343,000 | 54,768,000 | 54,333,000 | 45,212,000 | 51,989,000 | 46,159,081 | 38,586,777 | 32,863,549 | 24,933,011 | 28,017,712 | 19,877,470 | 5,859,154 | 4,741,266 | 4,070,247 | 2,591,908 | 241,042 |
non-current liabilities | ||||||||||||||||||||
non-current related party payable | 4,367,000 | |||||||||||||||||||
long-term debt | 176,412,000 | 167,291,000 | 154,010,000 | 142,170,000 | 132,011,000 | 68,309,000 | 52,603,000 | 40,041,000 | 25,764,000 | 11,319,690 | ||||||||||
other non-current payables | 1,890,000 | 3,371,000 | 3,200,000 | 2,966,000 | 2,779,000 | 2,528,000 | 2,191,000 | 2,535,000 | 2,027,786 | 1,530,522 | 976,303 | |||||||||
total non-current liabilities | 186,348,000 | 174,137,000 | 157,381,000 | 145,370,000 | 134,977,000 | 71,089,000 | 55,132,000 | 42,232,000 | 28,299,000 | 13,347,476 | ||||||||||
total liabilities | 311,117,000 | 255,617,000 | 247,557,000 | 228,041,000 | 194,320,000 | 125,857,000 | 109,465,000 | 87,444,000 | 80,288,000 | 59,506,557 | 40,117,299 | 33,839,852 | 25,953,085 | 28,856,557 | 20,420,279 | 30,531,654 | 36,366,266 | 31,592,747 | 39,931,508 | 36,230,042 |
commitments and contingencies | ||||||||||||||||||||
equity | ||||||||||||||||||||
common stock | 348,000 | 348,000 | 298,000 | 298,000 | 298,000 | 298,000 | 270,000 | 269,000 | 269,000 | 269,209 | 269,164 | |||||||||
additional paid-in capital | 830,500,000 | 826,881,000 | 609,442,000 | 607,462,000 | 606,460,000 | 605,505,000 | 511,174,000 | 510,574,000 | 509,448,000 | 507,175,781 | 505,659,469 | 505,009,464 | 503,661,571 | 501,363,454 | 320,295,756 | |||||
accumulated deficit | -707,090,000 | -643,171,000 | -596,304,000 | -531,619,000 | -9,776,431 | -30,375,451 | -35,772,231 | -30,348,167 | -36,065,428 | -34,429,956 | ||||||||||
total equity | 123,758,000 | 184,059,000 | 13,435,000 | 76,141,000 | 123,922,000 | 163,665,000 | 105,093,000 | 140,881,000 | 165,051,000 | 202,044,815 | ||||||||||
total liabilities and equity | 434,875,000 | 439,676,000 | 260,992,000 | 304,181,000 | 318,242,000 | 289,522,000 | 214,557,000 | 228,325,000 | 245,339,000 | 261,551,372 | ||||||||||
related party receivable | 8,000 | 4,000 | 256,645 | |||||||||||||||||
property | 8,580,000 | 4,916,000 | 956,000 | |||||||||||||||||
right-of-use asset | 356,000 | 769,000 | ||||||||||||||||||
related party payable | 41,607,000 | 9,560,773 | ||||||||||||||||||
other current liabilities | 30,078,000 | |||||||||||||||||||
other non-current liabilities | 2,479,000 | |||||||||||||||||||
deferred income tax | 2,736,000 | 2,637,000 | 1,714,000 | 1,714,000 | 1,714,000 | 1,714,000 | ||||||||||||||
liabilities and stockholders' equity | ||||||||||||||||||||
other payables | 5,961,337 | 10,393,985 | 6,648,171 | 3,677,865 | 2,159,603 | |||||||||||||||
stockholders' equity | ||||||||||||||||||||
total stockholders' equity | 231,738,303 | 262,498,254 | 286,922,343 | 304,675,566 | 310,783,657 | |||||||||||||||
total liabilities and stockholders' equity | 271,855,602 | 296,338,106 | 312,875,428 | 333,532,123 | 331,203,936 | |||||||||||||||
current assets: | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
common stock, 0.001 par value... | 269,094 | 269,094 | 266,371 | 264,332 | ||||||||||||||||
related party loan | 82,650,375 | 81,638,146 | ||||||||||||||||||
capitalized software | ||||||||||||||||||||
other noncurrent payables | 1,020,074 | 838,845 | 542,809 | |||||||||||||||||
accumulated other comprehensive loss | ||||||||||||||||||||
current: | ||||||||||||||||||||
accumulated other comprehensive income | ||||||||||||||||||||
net parent investment | ||||||||||||||||||||
cash | 24,678 | 475,339 | 1,074,408 | 1,334,405 | 1,503,349 | |||||||||||||||
prepaid expenses | 84,903 | 93,195 | 150,611 | 218,028 | 288,910 | |||||||||||||||
investments held in trust account | 236,947,197 | 236,926,076 | 234,620,136 | 234,614,222 | 232,308,402 | |||||||||||||||
liabilities and stockholders’ deficit | ||||||||||||||||||||
accounts payable and accrued expenses | 5,709,154 | 4,741,266 | 4,070,247 | 241,042 | ||||||||||||||||
promissory note – related party | 150,000 | |||||||||||||||||||
derivative liabilities | 16,622,500 | 23,575,000 | 19,472,500 | 29,289,600 | 27,939,000 | |||||||||||||||
deferred underwriting fee payable | 8,050,000 | 8,050,000 | 8,050,000 | 8,050,000 | 8,050,000 | |||||||||||||||
class a common stock subject to possible redemption, 0.0001 par value... | 236,900,000 | 236,900,000 | ||||||||||||||||||
stockholders’ deficit | ||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||
class a common stock, 0.0001 par value... | ||||||||||||||||||||
class b common stock, 0.0001 par value... | 575 | 575 | 575 | 575 | 575 | |||||||||||||||
total stockholders’ deficit | -30,374,876 | -35,771,656 | -30,347,592 | -36,064,853 | ||||||||||||||||
total liabilities and stockholders’ deficit | 237,056,778 | 237,494,610 | 235,845,155 | 236,166,655 | ||||||||||||||||
class a common stock | 234,600,000 | 232,300,000 | 232,300,000 | |||||||||||||||||
accrued expenses | 2,591,908 | |||||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
total stockholders’ equity | -34,429,381 | |||||||||||||||||||
total liabilities and stockholders’ equity | 234,100,661 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||
net loss | -63,919,000 | -46,866,000 | -64,686,000 | -48,784,000 | -40,696,000 | -35,788,000 | -36,388,000 | -25,296,000 | -39,266,146 | -31,209,846 | -20,054,063 | -132,693,936 | |||||
adjustments to reconcile net loss to net cash used by operating activities | |||||||||||||||||
depreciation, amortization, and loss on disposal | |||||||||||||||||
non-cash lease expenses | 35,000 | 132,000 | 165,000 | 172,000 | 154,000 | 279,000 | 33,000 | 54,000 | 29,234 | 21,056 | 24,249 | 9,461 | |||||
unrealized loss on exchange rate changes | -1,386,000 | 1,063,000 | |||||||||||||||
share-based compensation | 1,092,000 | 86,000 | 2,137,000 | 1,002,000 | 929,000 | 1,044,000 | 600,000 | 1,126,000 | -28,330 | 1,515,208 | |||||||
warrant expenses | 1,863,000 | 0 | |||||||||||||||
change in fair value of derivative financial instruments | 413,000 | -6,441,000 | 9,471,000 | -3,315,000 | 5,415,000 | -3,990,000 | -2,067,000 | -6,341,000 | 570,500 | 853,575 | |||||||
deferred income taxes | |||||||||||||||||
non-cash tax expense | |||||||||||||||||
changes in operating assets and liabilities | |||||||||||||||||
accrued interest on financial investments | -616,000 | -24,000 | -1,108,000 | -84,000 | 1,246,000 | -3,024,000 | -519,000 | -1,497,000 | 6,230,936 | -1,666,159 | |||||||
accrued interest on related party loan receivable | 0 | 4,487,000 | -1,223,000 | -1,222,000 | -1,235,425 | 2,835,878 | |||||||||||
other assets | -6,962,000 | -1,181,000 | -470,000 | -1,346,000 | -2,848,000 | 1,021,000 | -1,235,000 | -1,285,000 | 1,355,745 | -753,152 | -695,211 | 715,618 | 1,548,970 | 3,444,864 | |||
related party receivables | -10,000 | -59,000 | -36,000 | 504,000 | -445,000 | -381,000 | 338,000 | 206,000 | 1,599,477 | -1,789,148 | -114,675 | 5,346 | 1,647 | ||||
accounts payable | 1,163,000 | -2,397,000 | 1,505,000 | -529,000 | -2,741,000 | 1,132,000 | 1,208,000 | -2,909,000 | 2,716,735 | -458,357 | 1,910,089 | -1,708,467 | -879,516 | 2,073,413 | |||
related party payables | 32,486,000 | 4,381,000 | -11,991,000 | 17,748,000 | 4,190,000 | 5,281,000 | 4,915,000 | 1,319,000 | -505,787 | 2,941,248 | 1,477,366 | 3,597,173 | -1,769,097 | ||||
other payables | 12,659,000 | -3,021,000 | 7,927,000 | 8,790,000 | -1,763,000 | -1,804,000 | 5,382,000 | 296,000 | 3,020,266 | 5,325,623 | -4,177,190 | 3,495,301 | 2,757,043 | 2,924,331 | |||
net cash used by operating activities | -25,934,000 | -53,975,000 | -55,645,000 | -24,878,000 | -38,676,000 | -30,722,000 | -30,755,000 | -35,813,000 | -24,512,468 | -22,392,696 | |||||||
cash flows from investing activities | |||||||||||||||||
redemptions of financial investments | 76,000,000 | 66,000,000 | 38,000,000 | 117,000,000 | 77,000,000 | 13,000,000 | 37,000,000 | 10,000,000 | 147,000,000 | 15,000,000 | |||||||
purchases of financial investments | -12,000,000 | -209,000,000 | -10,000,000 | -98,000,000 | -70,000,000 | -172,000,000 | -15,000,000 | -12,000,000 | -100,000,000 | -27,000,000 | |||||||
related party loan collected | |||||||||||||||||
intangible assets | |||||||||||||||||
expenditures for property, plant and equipment | -1,215,000 | -3,236,000 | -659,000 | -106,000 | 56 | -2,676 | |||||||||||
net cash (used) provided by investing activities | 5,785,000 | ||||||||||||||||
cash flows from financing activities | |||||||||||||||||
proceeds from issuance of common stock, net of fees to investors | 0 | ||||||||||||||||
non-investor equity issuance costs | 5,000 | 25,000 | |||||||||||||||
proceeds from issuance of debt | 13,062,000 | 12,459,000 | 14,077,615 | ||||||||||||||
non-creditor debt issuance costs | -286,000 | 0 | 0 | -178,000 | -297,000 | -296,000 | -272,000 | -219,000 | 132,201 | ||||||||
tax withholding on share-based compensation | 0 | 0 | 154 | 0 | |||||||||||||
proceeds from exercised warrants | 0 | ||||||||||||||||
net cash from financing activities | 12,779,000 | 229,863,000 | 11,202,000 | 9,277,000 | 65,245,000 | 14,747,000 | 14,211,820 | 0 | 23,579,719 | 328,973,832 | 150,000 | 2,300,000 | |||||
effect of exchange rate changes on cash and cash equivalents | -378,000 | -264,000 | -274,000 | 209,000 | -562,000 | -13,000 | -657,000 | -122,000 | 85,337 | -100,415 | 376,126 | 125,952 | |||||
increase in cash, cash equivalents and restricted cash | 44,187,000 | ||||||||||||||||
cash and cash equivalents at the beginning of the period | 56,366,000 | 0 | 0 | 0 | 46,882,000 | -63 | 0 | 0 | 49,146,063 | 0 | 0 | ||||||
cash and cash equivalents at the end of the period | 59,510,000 | 31,794,000 | -3,191,000 | 4,175,000 | 23,588,000 | 36,784,682 | -23,494,453 | 21,754,578 | 11,837,193 | -28,795,308 | -98,375,183 | ||||||
supplemental disclosure of cash information | |||||||||||||||||
cash paid for | |||||||||||||||||
interest | 2,241,000 | 2,088,000 | 1,522,000 | 597,000 | 447,000 | 273,000 | |||||||||||
income taxes | 887,190 | ||||||||||||||||
supplemental disclosure of other non-cash investing and financing activities | |||||||||||||||||
property, plant & equipment expenditures in accounts payable and other payables | |||||||||||||||||
right-of-use assets obtained in exchange for operating lease liabilities | -11,000 | 25,000 | -6,000 | 16,000 | -10,000 | 502,000 | 52,000 | 564,000 | |||||||||
issuance of common stock for vested restricted stock units | 0 | 0 | 0 | 0 | 837,000 | 41,000 | 250 | ||||||||||
reclassification of public warrants from liability to equity | |||||||||||||||||
depreciation and amortization | 353,000 | 107,000 | 82,000 | 67,000 | 58,000 | 51,000 | |||||||||||
collection of related party loan | |||||||||||||||||
expenditures for property | -6,732,000 | -1,258,000 | -464,000 | ||||||||||||||
net cash used by investing activities | -2,106,000 | ||||||||||||||||
proceeds from issuance of common stock, net of fees to investors of 3,664 | |||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | |||||||||||||||||
cash, cash equivalents and restricted cash at end of period | |||||||||||||||||
cash paid for interest | |||||||||||||||||
cash paid for income tax | |||||||||||||||||
property expenditures in accounts payable and other payables | 2,272,000 | 150,000 | 441,000 | ||||||||||||||
net cash from investing activities | -17,543,699 | -8,057,744 | -2,300,000 | ||||||||||||||
decrease in cash and cash equivalents | -3,191,000 | 4,175,000 | -23,294,000 | 21,754,578 | -37,308,870 | ||||||||||||
cash and cash equivalents at beginning of period | |||||||||||||||||
cash and cash equivalents at end of period | |||||||||||||||||
income tax | 643,000 | 372,000 | 1,009,000 | 804,000 | 949,000 | ||||||||||||
unrealized loss on the exchange rate changes | 981,000 | ||||||||||||||||
deferred income tax | -99,000 | ||||||||||||||||
net cash provided (used) by investing activities | 18,536,000 | 47,000,056 | -12,002,676 | ||||||||||||||
proceeds from debt | 9,455,000 | 15,762,000 | 14,518,000 | 14,966,000 | |||||||||||||
increase in cash and cash equivalents | 3,144,000 | -28,795,308 | -98,375,182 | ||||||||||||||
capital contribution net of transaction costs reimbursed to zanite | |||||||||||||||||
transaction costs reimbursed to parent | 0 | ||||||||||||||||
distribution to parent | |||||||||||||||||
net increase (decrease) in cash and cash equivalents | |||||||||||||||||
unrealized gain on the exchange rate changes | 953,000 | -1,858,000 | -315,000 | ||||||||||||||
property, plant & equipment expenditures in accounts payable and other accruals | -731,000 | 764,000 | 8,000 | 121,047 | |||||||||||||
net cash provided (used) by financing activities | |||||||||||||||||
long-term incentive plan expense | 98,321 | 191,465 | 62,211 | ||||||||||||||
related party loan | 0 | ||||||||||||||||
transfer from parent | |||||||||||||||||
net (decrease) increase in cash and cash equivalents | |||||||||||||||||
recognition of the operating lease right-of-use assets and liabilities | |||||||||||||||||
additions to capitalized software transferred by parent | |||||||||||||||||
cash flows from operating activities: | |||||||||||||||||
adjustments to reconcile net loss to net cash used by operating activities: | |||||||||||||||||
depreciation and loss on disposal of property | 38,581 | ||||||||||||||||
amortization of debt issuance costs | |||||||||||||||||
unrealized (gain) on exchange rate translation | |||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||
cash flows from investing activities: | |||||||||||||||||
cash flows from financing activities: | |||||||||||||||||
proceeds from exercise of public warrants | |||||||||||||||||
(decrease) increase in cash and cash equivalents | |||||||||||||||||
cash paid for: | |||||||||||||||||
recognition of the right-of-use assets and operating lease liabilities | |||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||
unrealized gain on exchange rate translation | |||||||||||||||||
income tax paid | 240,228 | 147,665 | 1,459,843 | ||||||||||||||
recognition of right-of-use assets and operating lease liabilities | |||||||||||||||||
issuance of common stock for vested rsus | |||||||||||||||||
net income | -25,771,982 | 5,396,780 | -3,400,064 | ||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||
depreciation | 22,050 | ||||||||||||||||
unrealized loss/(gain) on the exchange rate translation | -58,553 | ||||||||||||||||
stock-based compensation | 867,893 | 711,704 | |||||||||||||||
warrants expenses | 2,674,500 | -1,830,866 | |||||||||||||||
interest on financial investments | -3,828,323 | -1,527,542 | |||||||||||||||
carve-out expenses | |||||||||||||||||
operating lease liabilities | -9,461 | ||||||||||||||||
net cash from operating activities | -19,891,123 | -20,737,564 | -25,536,180 | -12,583,141 | -600,661 | -599,069 | |||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
free cash flows | -19,891,123 | -20,737,564 | -25,536,180 | -12,583,141 | -600,661 | -599,069 | |||||||||||
purchases of investment securities | -17,500,000 | -8,000,000 | |||||||||||||||
property, plant & equipment | -43,699 | -57,744 | |||||||||||||||
supplemental disclosure of other non-cash investing activities | |||||||||||||||||
f-5 | |||||||||||||||||
amortization of capitalized software | |||||||||||||||||
non-cash lease expenses - amortization & interest | |||||||||||||||||
unrealized gains on financial investments | |||||||||||||||||
supplemental disclosure of other noncash investing and income taxes paid | |||||||||||||||||
recognition of the operating assets rou assets | |||||||||||||||||
recognition of the operating lease liabilities | |||||||||||||||||
gross capital contribution | -7,178,840 | ||||||||||||||||
deemed distribution | |||||||||||||||||
stock based compensation | |||||||||||||||||
private warrants - change in fv | |||||||||||||||||
related party receivable | |||||||||||||||||
related party payable | |||||||||||||||||
purchases of investing securities | |||||||||||||||||
net cash from investing activities: | |||||||||||||||||
transaction costs | |||||||||||||||||
supplemental disclosure of other noncash investing and financing activities | |||||||||||||||||
change in fair value of derivative liabilities | -6,952,500 | ||||||||||||||||
interest earned on investments held in trust account | -21,121 | ||||||||||||||||
prepaid expenses | 8,292 | 57,416 | |||||||||||||||
accounts payable and accrued expenses | 967,888 | 671,019 | |||||||||||||||
proceeds from promissory note – related party | 150,000 | ||||||||||||||||
net change in cash | -450,661 | -599,069 | |||||||||||||||
cash – beginning of period | 475,339 | 0 | |||||||||||||||
cash – end of period | 24,678 | -599,069 | |||||||||||||||
level 1: | |||||||||||||||||
level 2: | |||||||||||||||||
level 3: | |||||||||||||||||
transaction costs allocated to warrant issuance | |||||||||||||||||
investment of cash in trust account | -2,300,000 | ||||||||||||||||
proceeds from sale of units, net of underwriting discounts paid | |||||||||||||||||
proceeds from sale of private placements warrants | 2,300,000 | ||||||||||||||||
repayment of promissory note— related party | |||||||||||||||||
payment of offering costs | |||||||||||||||||
non-cash investing and financing activities: | |||||||||||||||||
offering costs paid by sponsor in exchange for issuance of founder shares | |||||||||||||||||
offering costs paid through promissory note – related party | |||||||||||||||||
accretion of class a common stock to possible redemption | |||||||||||||||||
deferred underwriting fee payable | |||||||||||||||||
change in fair value of warrant liability | |||||||||||||||||
interest earned on marketable securities held in trust account | |||||||||||||||||
offering costs included in accrued offering costs | |||||||||||||||||
offering costs paid through promissory note | |||||||||||||||||
change in value of class a common stock subject to possible redemption | |||||||||||||||||
redeemable class a common stock | |||||||||||||||||
numerator: earnings allocable to redeemable class a common stock | |||||||||||||||||
interest income | |||||||||||||||||
income and franchise tax | |||||||||||||||||
net earnings | |||||||||||||||||
denominator: weighted-average redeemable class a common stock | |||||||||||||||||
redeemable class a common stock, basic and diluted | |||||||||||||||||
earnings/basic and diluted redeemable class a common stock | |||||||||||||||||
non-redeemable class b common stock | |||||||||||||||||
numerator: net income minus redeemable net earnings | |||||||||||||||||
redeemable net earnings | |||||||||||||||||
non-redeemable net income | |||||||||||||||||
denominator: weighted-average non-redeemable class b common stock | |||||||||||||||||
non-redeemable class b common stock, basic and diluted | |||||||||||||||||
loss/basic and diluted non-redeemable class b common stock |