EHang Holdings Ltd ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), EHang Holdings Ltd ADR reported revenue of $418.0M (-8.4% year on year) and net income of ($276.4M) (-20.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $418.0M | $456.2M | $117.4M | $44.3M |
| Cost of revenues | ($160.8M) | ($176.2M) | ($42.1M) | ($15.1M) |
| Gross profit | $257.2M | $279.9M | $75.3M | $29.2M |
| Sales and marketing expenses | ($122.0M) | ($131.0M) | ($60.4M) | ($53.1M) |
| General and administrative expenses | ($269.6M) | ($233.4M) | ($150.1M) | ($151.1M) |
| Research and development expenses | ($194.6M) | ($199.5M) | ($167.3M) | ($135.1M) |
| Total operating expenses | ($586.2M) | ($563.9M) | ($377.8M) | ($339.3M) |
| Other operating income | $12.4M | $29.9M | $6.2M | $6.1M |
| Operating loss | ($316.7M) | ($254.1M) | ($296.3M) | ($303.9M) |
| Interest and investment income | $58.6M | $30.6M | $8.5M | $4.7M |
| Interest expenses | ($6.0M) | ($3.4M) | ($2.9M) | ($3.8M) |
| Amortization of debt discounts | $0 | $0 | ($12.0M) | — |
| Foreign currency exchange gains (losses), net | $1.2M | — | — | — |
| Other non-operating income | $2.8M | $4.7M | $2.0M | $1.9M |
| Other non-operating expenses | ($15.5M) | ($1.9M) | ($214.0K) | ($26.8M) |
| Total other (expenses) income | $41.1M | $28.8M | ($4.3M) | ($25.5M) |
| Loss before income tax and loss from equity method investments | ($275.6M) | ($225.3M) | ($300.6M) | ($329.4M) |
| Income tax (expenses) benefits | $4.4M | ($386.0K) | ($206.0K) | ($79.0K) |
| Loss before loss from equity method investments | ($271.2M) | ($225.7M) | ($300.8M) | ($329.5M) |
| Loss from equity method investments | ($5.2M) | ($4.4M) | ($1.6M) | $196.0K |
| Net loss | ($276.4M) | ($230.0M) | ($302.3M) | ($329.3M) |
| Net loss attributable to non-controlling interests | $434.0K | $256.0K | $641.0K | $1.1M |
| Net loss attributable to EHang Holdings Limited's ordinary shareholders | ($276.0M) | ($229.8M) | ($301.7M) | ($328.2M) |
| Net loss per ordinary share, Basic | -$1.88 | -$1.71 | -$2.48 | -$2.86 |
| Net loss per ordinary share, Diluted | -$1.88 | -$1.71 | -$2.48 | -$2.86 |
| Net loss per ADS, Basic | -$1.88 | -$1.71 | -$2.48 | -$2.86 |
| Net loss per ADS, Diluted | -$1.88 | -$1.71 | -$2.48 | -$2.86 |
| Shares used in net loss per ordinary share computation , Basic | 146.7K | 134.4K | 121.5K | 114.7K |
| Shares used in net loss per ordinary share computation, Diluted | 146.7K | 134.4K | 121.5K | 114.7K |
| Foreign currency translation adjustments, net of nil tax | ($22.9M) | $10.5M | $69.0K | $20.9M |
| Total other comprehensive income (loss), net of tax | ($22.9M) | $10.5M | $69.0K | $20.9M |
| Comprehensive loss | ($299.3M) | ($219.6M) | ($302.3M) | ($308.4M) |
| Comprehensive loss attributable to non-controlling interests | $434.0K | $256.0K | $641.0K | $1.1M |
| Comprehensive loss attributable to EHang Holdings Limited | ($298.9M) | ($219.3M) | ($301.6M) | ($307.3M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $256.4M | $610.9M | $228.3M | $249.3M |
| Short-term investments | $843.2M | $513.7M | $57.5M | $0 |
| Restricted short-term deposits | $29.7M | $30.3M | $33.9M | — |
| Accounts receivable, net of expected credit losses of RMB103,340 and RMB111,259 (US$15,910) as of December 31, 2024 and 2025, respectively (including amounts due from related parties, net, of RMB458 and RMB5,188 (US$741) as of December 31, 2024 and 2025) | $111.7M | $58.2M | $34.8M | $20.3M |
| Inventories | $101.6M | $75.7M | $59.5M | $72.4M |
| Prepayments and other current assets (including amounts due from a related party, net, of nil and RMB2,070 (US$296) as of December 31, 2024 and 2025) | $140.9M | $68.3M | $24.7M | $45.2M |
| Total current assets | $1.5B | $1.4B | $453.0M | $387.2M |
| Property and equipment, net | $258.1M | $60.2M | $44.6M | $47.1M |
| Right-of-use assets, net | $116.5M | $128.4M | $74.5M | $73.5M |
| Land use right, net | $11.3M | — | — | — |
| Intangible assets, net | $2.7M | $2.6M | $2.4M | $2.0M |
| Investments accounted for using equity method | $28.8M | — | — | — |
| Other investments | $45.3M | — | — | — |
| Deferred tax assets | $7.0M | — | — | — |
| Other non-current assets | $38.3M | $2.4M | $1.4M | $1.4M |
| Total non-current assets | $508.0M | $227.5M | $145.6M | $143.7M |
| Total assets | $2.0B | $1.6B | $598.6M | $530.9M |
| Short-term bank loans | $229.6M | $64.3M | $69.8M | $49.8M |
| Accounts payable | $132.5M | $127.4M | $35.1M | $35.5M |
| Contract liabilities (including amounts due to related parties of RMB2,000 and RMB2,307 (US$330) as of December 31, 2024 and 2025) | $60.8M | $62.6M | $37.2M | $19.3M |
| Current portion of long-term bank loans | $9.8M | $10.5M | $3.5M | $13.2M |
| Mandatorily redeemable non-controlling interests | 0 | 40.0M | 40.0M | 40.0M |
| Accrued expenses and other liabilities | $263.4M | $150.2M | $94.1M | $97.8M |
| Current portion of lease liabilities | $16.3M | $12.5M | $5.6M | $5.5M |
| Deferred income | $817.0K | $1.5M | $1.5M | $1.5M |
| Deferred government subsidies | $684.0K | $1.2M | $3.1M | $2.0M |
| Income taxes payable | $1.8M | $150.0K | $29.0K | $7.0K |
| Total current liabilities | $715.8M | $470.3M | $250.1M | $282.3M |
| Long-term bank loans | $82.7M | $20.5M | $9.3M | $3.8M |
| Deferred tax liabilities | $292.0K | $292.0K | $292.0K | $292.0K |
| Unrecognized tax benefit | $5.5M | $5.5M | $5.5M | $5.5M |
| Lease liabilities | $114.2M | $125.7M | $75.3M | $69.9M |
| Other non-current liabilities | $4.7M | $6.3M | $2.5M | $1.4M |
| Total non-current liabilities | $207.4M | $158.3M | $134.4M | $123.8M |
| Total liabilities | $923.2M | $628.7M | $384.4M | $406.2M |
| Common stock | $92.0K | $90.0K | $80.0K | $75.0K |
| Additional paid-in capital | $3.3B | $2.9B | $2.0B | $1.6B |
| Treasury shares | -10.1M | -10.1M | — | — |
| Statutory reserves | $3.3M | $1.8M | $1.2M | $1.2M |
| Accumulated deficit | ($2.3B) | ($2.0B) | ($1.8B) | ($1.5B) |
| Accumulated other comprehensive income | $2.6M | $25.5M | $15.1M | $15.0M |
| Total EHang Holdings Limited shareholders' equity | $1.1B | $955.6M | $213.8M | $124.3M |
| Non-controlling interests | ($585.0K) | $171.0K | $427.0K | $420.0K |
| Total shareholders' equity | $1.1B | $955.8M | $214.2M | $124.7M |
| Total liabilities and shareholders' equity | $2.0B | $1.6B | $598.6M | $530.9M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($276.4M) | ($230.0M) | ($302.3M) | ($329.3M) |
| Depreciation of property and equipment | $19.0M | $12.8M | $12.4M | $8.5M |
| Amortization of intangible assets | $972.0K | $922.0K | $787.0K | $439.0K |
| Amortization of right-of-use assets | $10.1M | $6.1M | $8.1M | $12.0M |
| Share-based compensation | $246.2M | $273.1M | $151.5M | $96.9M |
| Losses on disposal of property and equipment | $34.0K | $682.0K | $138.0K | ($103.0K) |
| Amortization of debt discounts | $0 | $0 | $12.0M | $1.7M |
| Interest expenses | ($25.0K) | ($707.0K) | — | — |
| Interest and investment income | ($47.4M) | ($11.1M) | ($3.4M) | ($3.1M) |
| Losses from equity method investments | $5.2M | $4.4M | $1.6M | ($196.0K) |
| Current expected credit losses | $7.9M | $12.8M | $13.7M | $47.8M |
| Write-downs of inventories | $1.5M | $921.0K | $460.0K | $956.0K |
| Deferred tax assets | ($7.0M) | — | — | $0 |
| Foreign currency exchange (gains) losses | ($372.0K) | — | ($394.0K) | — |
| Accounts receivable | ($61.4M) | ($31.3M) | ($20.5M) | ($10.1M) |
| Inventories | ($35.7M) | ($21.6M) | $7.8M | ($3.3M) |
| Prepayments and other assets | ($101.6M) | ($29.5M) | $10.7M | ($22.9M) |
| Accounts payable | $5.0M | $92.3M | $5.4M | ($10.1M) |
| Contract liabilities | ($1.7M) | $25.4M | $17.8M | $4.5M |
| Accrued expenses and other liabilities | $61.6M | $57.6M | ($192.0K) | $36.3M |
| Lease liabilities | ($5.8M) | ($2.7M) | ($3.7M) | ($8.8M) |
| Deferred income | ($687.0K) | ($1.5M) | ($1.5M) | $1.5M |
| Deferred government subsidies | ($526.0K) | ($1.9M) | $998.0K | $1.5M |
| Income taxes payable | $1.7M | $121.0K | $22.0K | $3.0K |
| Net cash flow (used in) generated from operating activities | ($179.5M) | $158.0M | ($88.4M) | ($173.5M) |
| Acquisition of non-controlling interests | $0 | — | ($6.9M) | — |
| Purchase of short-term investments | ($729.2M) | ($885.7M) | ($56.7M) | ($76.8M) |
| Redemption of short-term investments | $418.7M | $444.8M | — | $151.4M |
| Payments for short-term deposits | $0 | ($130.1M) | ($14.2M) | — |
| Proceeds received from maturity of short-term deposits | $0 | $143.8M | — | — |
| Payments for restricted short-term deposits | ($29.1M) | ($39.5M) | ($33.4M) | — |
| Proceeds received from maturity of restricted short-term deposits | $29.5M | $43.9M | — | — |
| Purchase of property and equipment | ($147.9M) | ($39.0M) | ($7.8M) | ($12.2M) |
| Purchases of land use rights | ($11.4M) | — | — | — |
| Acquisition of intangible assets | ($1.1M) | ($1.1M) | ($1.3M) | ($1.7M) |
| Cash paid for investments accounted for using equity method and other investments | ($34.7M) | ($19.6M) | ($10.1M) | ($4.5M) |
| Loan to a related party | ($5.0M) | — | — | — |
| Receipt of loans receivable from a related party | $3.0M | — | — | — |
| Receipt of loans receivable from a third party | $0 | — | $1.7M | — |
| Net cash flow used in investing activities | ($507.1M) | ($482.5M) | ($128.7M) | $56.4M |
| Proceeds from short-term bank loans | $249.1M | $64.3M | $69.1M | $49.8M |
| Repayment of short-term bank loans | ($83.8M) | ($69.1M) | ($49.8M) | ($10.0M) |
| Proceeds from long-term bank loans | $75.0M | $25.0M | $10.0M | — |
| Repayment of long-term bank loans | ($13.5M) | ($6.8M) | ($14.2M) | ($3.0M) |
| Proceeds from short-term debts | $0 | $90.0M | — | — |
EHang Holdings Ltd ADR score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.