Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Eve Air Mobility Second Quarter 2023 Earnings Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Mr. Investor of Director Aldworth Relations. Lucio

Lucio Aldworth

our Good Thank Stein here Aldworth, wanted with This earnings as to Lucio me co-CEOs, and as everyone. Director you, to call. of Andre have everyone I well operator. Couto. the and Investor is Eve, our XXXX Eduardo DeMuro morning, Relations I quarter second Jerry welcome conference at ,

we for initial remarks, are questions. their open call going After the to

is available slides We that have and with ir.evermobility.com. few a our got additional in deck a at website information

please the feel free follow So to download presentation. and it through

Let statements me that events first have say statements circumstances that this presentation includes or or forward-looking not occurred. yet about

our largely and and economic, These statements future We statements on Brazil based uncertainties, events current are subject about financial to expectations these in including, markets. general affecting and things, our both risks, among are other conditions in future and financial projections trends assumptions, political performance. our business business and our

continues, any intends, or and to of undertake Towards factors. believes, statements. publicly identify anticipates, we information, future expects new are because may, revise similar or intended no update And obligation other forward-looking to statements estimates, events will, words

these presentation and future uncertainties and discussed in circumstances this of the light might In risks occur. not events

could Our statements. anticipated substantially differ actual in results those from our forward-looking

presentation I to that, turn Jerry. the will over With now Jerry?

Gerard DeMuro

today. the Thanks, Lucio, and good for you call to morning, joining and thank all

eVTOL development other past have meaningful the we continued on months, and Over our few of make business the our to aspects plan. overall progress

we be final is And little that the about talk in Paris I at bit which our the slide. the to to depicted details optimization announced that work the what have defined will next Air of we configuration point configuration, the here. a Show, on progressed we more aircraft now As consider

tunnel to these that our our little provide point test predictive in simulations performance by data modeling. used Stein whole and from most findings we recently a this applying validate little the development actual reached of tools rigs, about have program development which more a the will testing later. talk our wind process a have We suite and bit in

have and motors, as systems propellers. identified management They several and for electric energy the include subsystems. the now Importantly, the storage we the well long-lead suppliers aircraft

plan announce providers flight control year. in avionics, elements We we actuators move weeks. for on to of next balance and time through to And last select the few the and will systems the the then critical the

will allow ANAC, certification expect development about, have recognize some ANAC that in us our would We the to which to still our this validation, also talk has is to agreed that the like We and primary so dual late-breaking we certificate and is a will be process the FAA program. approved news, to basis that year. through which do certification by which calendar critical

and also structure. providing X now the with little setter or would on talk includes safety as about a It of the that lifters, one pusher configuration like to motors I a shown wings, here bit Slide to attached motors empennage to more benefits fixed more the dual and new then physical design redundant It a the weight which are both robust includes final booms vehicle. X.

will It of any four the The cruise XX% is lift to missions. up passengers to of remains and targeting urban and and design continue safe DNA simple unchanged. pilot. cabin for our travel house designed efficient The

on and have cabin to earlier taken this based make refinements a the to We which to on continue in get unveiled customer tour user year worldwide structure and we mockup, feedback. investors the

the believe airport best baggage adapted and the services. downtown continues be that various Based made have compartment, for to shuttle is we on we feedback, class including in enhancements, which particularly

parts components production for defined, suppliers With and prototype. main to for those assemble our known can full-scale start specifications our we now

will will that test cut components, fact, have then by We of already year campaign we in end the sometime and, and started to assembly the begin year. begin of prototype the next

Now be Paris is energy both the lifters which the both Show, and slide. pusher the our Aerospace, of BAE management moving Nidec of the for suppliers, for several Lifter storage and the Corporation announced the Duc to Air the main for electric JV and pusher. the and motors, We selection which at and the systems, the Nidec between next a Embraer for will energy bespoke propellers for

And and earlier, to on start began recall, milestone. recently, we was As one established next for will tooling of will cutting first building may for with received the I you to main selecting the XXXX, wings, we and track this suppliers mentioned our see slide. prototype. material achieving milestones that continue the be you as that we us and on allow And

September a not want most made our Last joining and X. the President serves which we currently that businesses. regarding announcement of Embraer into and built from $X.X last Bordais and Services mention one the ground CEO certainly billion that global successful effective enterprise, the Support, Eve as least, I Johann of to Johann up having Embraer’s as CEO week organization is

So is a fit Johann for quantity role. well-known this perfect a and

also as is literally as that network. air urban Eve support vision groundbreaking develop not on and only It basis. will a sustainable develop product transportation a is to urban design to a global a ecosystem well transform mobility aviation global

next Achieving complement talented enterprise the in seasoned goals enterprise these of require executive team. as have now ambitions talent a public immense going Eve Having amount phase to a will practice, of existing very we that on accomplished and to and initial bringing establishing and are an focus and into challenge added our innovation. the incredible the

Chief focus who elements a reality. Strategy allow to regulation remain with Eve and going increase leadership Stein, Officer, diverse our infrastructure absolutely will as addition will if operations, This of that we the also essential make and are to the are on UAM

from announced that transition. them Johann’s Ken in in the and intended that October in later has is the moving I would support will rush no leadership would I is Board place in year it now the ensure time. there parallel, responsibilities October, and resign absolutely note I forward. through versus team And to seamless Ricky at remain this with replace we to of intention the of end so is a that can transition taking change his really

Now I would like you important provide more ask to quarter. in other Stein last on details the to developments

Andre Stein

Thanks, Jerry.

first the carbon plan now as We completion are just in excited to prototype for half first the we the have start eVTOL the assembling to announce of laminate second celebrated that you year. fiber our material of it

our important to make process. in development We continue advancements

propeller This also uses different to vibration measure other test work conditions. modern to configurations under test to stress in continue sound the We in system, dedicated our and rigs metrics. profile different and entire

mountain rig used conditions is down and also and our and and travel that We designed is to the the refine a running rotors we built it of simulate under the of that drag truck vibration of to real-life runway are aerodynamic modeling and performance. validate router

swap quick a prototype and parts committed can would lastly, our series not This relatively had a of which of inexpensive separately We as that we motor testing possible be management And additional and employing and a development in to well plan. optimal protocol find allowing components test to easily part to testing subsystems. tasks configurations our thermal of also are different Again, and solution. permit on as batteries we of independent this for rigs discrete change component process. extensive already

be to importantly, Paulo. studies Slide and on weeks a in our Now to optimize Sao our define of Brazil. state after to initial announced define Brazil. consulting facility X. will we where now had factory selected first Perhaps We site extensive ago as in And industrialization in few the that we Taubate year of in the our strategy be last initial

the shows close site in of is highways Campos San railway. the is red to Embraer important units, to our Embraer’s the We and expand Eve’s existing easy strategically other The image resources. access and It development are Jose and also to and going and one with teams human headquarters major building.

production and synergies cost-efficient facilitate will We On maximize resources our way the product and top development agility of of and a reinforce sustainability be experience will with and and of this to new Embraer. process this development that, believe competitiveness.

largest currently a companies. we In by XX be today. the LOIs we to and helicopter countries Slide XXX mainlines over business aircraft in and and regions announced to airlines ride-sharing leasing have different customers X industry backlog the total, diversified most have customers that you operators, of for shows what spread from from platform different and number to believe XX regional

on nine an integral our partners from And We that to we part and solutions, that offer to mention services believe mobility and our and this reflects there is of portfolio attract our the more to customers, systems is Urban discussions Uber come have a not to also with solutions state-of-the-art bring operation management We LOIs clients. their of our our front. value proposition customers.

to cash flow PDPs. revenue the We the start believe strong offers consumption smooth known as citations pipeline convert we collect payments, as of into visibility come existing in years firm to as this will to and orders ladder predelivery long-term and help

to ecosystem network and the are create of new one energy is whole areas decides infrastructure strong we of urban to a that, a which as Beyond developing in aircraft. developing partners of an mobility, simply address largest such ahead challenges

on Helisul Airlines effort, of Rio our that as front will our more in these efforts. well. started we with cities to together to this be accelerating Brazil, As in and we come [indiscernible] part Francisco focus and where announce customers, San U.S.

Now Edu talk to I would to milestones. about our next and like invite financials

Eduardo Couto

Stein. Thanks,

financial X. moving Starting with company, the the a costs our statement Now development our Slide results preoperational of highlights. is and eVTOL. associated mostly with income It to reflect

$XX program of Service Solutions eVTOL portion majority traffic system. year a was management almost to million quarter the and our develop The We million second versus the our XXXX a ago. Support XX and invested and invested in during Air in Urban development

deployed other say, year. year, several compared had development last In million expenses. in $X Important we SG&A addition also to nonrecurring to IPOs and this expenses, to we $XX million quarter last

increased SG&A that, corporate program our we development. our together are expenses the growing with structure as Excluding actually

related in Eve million the $X had warrants return higher. the to we also financial our financial expenses to invested mark-to-market second due revenues quarter, mostly our in shares during rates the million are as $X the went quarter, during and as of reported around interest also noncash cash up of

million policy, loss the XXXX. conservative quarter invested have short-term money $XX very in that, a second keeping With of reported we Bank. net of with our We Big a in financial deposits

moving cash Now flow. to

Our the R&D quarter mostly expenses or Embraer million agreement operations the $XX the development. eVTOL in with versus last the in driven year, consumed $XX million higher by

more already increase efforts. total, expected X of the and the This first XXXX. semester is In was year cash $XX first in million. This twice the than R&D was million higher our of consumption $XX the shows months of

of bank in fund quarter we the $XXX start we ended our the it development is second access to we when million, $XXX million into the from that XXXX. that, standby exceeds in with going $XXX With line consider to liquidity operations total enough to September, million around are cash, credit now Brazilian and but our

Finally, summarizes our reaffirm milestones, we Slide X want and commitment. short-term our to

we freezing the As components the primary concluded suppliers for configuration before, of X of and mentioned milestones critical aircraft eVTOL. first our selecting our

manufacture With initiate that, we have individual of first We these of next to begin our later campaign should assemble components plan the to to also test started year. individual and the parts year. some prototype this

We the trial urban management of also continue our system. work in to air software traffic

between Lastly, XXXX, in of development is total our all million efforts. $XXX million which consumption we $XXX result reaffirmed cash a our and

Operator, remarks, conclude please questions. like our we and would to I that, for the open proceed. With call

Operator

from comes Syth [Operator James. line question Instructions] Our of first the Raymond Savanthi

Unidentified Analyst

is for in This (Ph) Savanthi. [Matt] filling

First, I’m your leaving correct. last call, roles. believe alike. the Stein company I thus calendar and if new will this in far my is Jerry Jerry, the be to congrats And

and questions, do That knowledge way, all the for with for speaking or you. performance with the production the configuration of you really any early that costs or you like said, look the is will now operating thank we suppliers? the my So after aircraft finalize more on on of aircraft you thoughts have enjoyed what event have being specifications more the set, and

Gerard DeMuro

Good Matt. question,

over it behalf you for well, that him. to I will and thank Stein on as First, turn of

the roughly XXX-kilometer et the high-level advertising we same inception, cetera. are been since still numbers We targeting have that range,

I pass a for over So detail, will if little more you it like. Stein to

Andre Stein

Absolutely. But that is the message.

with more goal now We for set on aircraft And track. are feasible. the is the that confidence are

maximum We XXX of miles are talking about range.

with passengers on about carry-on board. talking are pilot We X their

moving So all are and forward we good place to that is that. in

no was there now. is closed The change. So configuration

have it We working with been while. a for

closed and as motors. opened the We just we select

about that also us a That gives talk to batteries. So lot difference, the motors and actual with both an it in more makes the of supplier for comfort for place.

that confidence the with right the moving on on we keep we are So track.

Unidentified Analyst

take to want may whoever or Edu it. for maybe then And

with Now those and of deliverables certain to are how set are level expect discuss when we payment and more timing high at the agreements main you able could up to selected, on suppliers it. a

Eduardo Couto

Matthew, components Yes, right, payments We development, are payments course, are, from as Those the you in long the lead some connected some right? of signed the those They short mentioned, right? the primary negotiations, finalizing suppliers, right. we highly term. may with are other key eVTOL side. But require

from the right. phases the The is we different some way included progress, pay we XXXX. of for, would I a level suppliers all we feel already in advance, And the payments, comfortable with this connected cash We those that of cash payment we development, to development short-term more part the is of we whereas do have say, plant our forecast. of into and

Unidentified Analyst

as that more you or timing cost basically, we it should real So really consider progress. non-recurring no lumpiness

Gerard DeMuro

attributable year. that product now with into won’t until said, what increase deliveries I half Yes. half, a there and major first really look second is next payments. versus well Matt, highlight the just be up supplier cash the program second you directly in the think the stepping The vendors, an in is Edu the at with if way our half, to development burn in

So increase really reasons of main the why half. the see one over the half that second cash is you first in

is we Stine of which manage alluded the very to cash site, issue, of second industrialization are the The the to. aggressively working Taubate as beginning

than main they but be next to payments So more this will in year. product are drivers there, the year related really

developing. are We still

Eduardo Couto

didn’t operational that the costs mention can I asked. And about I Matt, you also your question, complement if

the much going be to like the how us the and the in to selection to the it fees aircraft. configuration you performance, when cost So the suppliers comes to of that help operational with operate comfortable are costs, cash

again, advantage the cash with clear the the of we right double-digit performance the well. to suppliers, mature And in operational advantage with it goods comes least becomes sold towards the put competitors. cost And believe with as a and we as well analysts our internal track At against us like even that the more when costs. are performance as

Operator

question our Cai Cowen Co. line of next von with comes And TD & from Rumohr the

Cai von Rumohr

Stein, great work. and Jerry

actually for those give from just talk is transport it us not suppliers But So get I and have suppliers not are color the to delivered more flows. you to that air they after for and customers. are know are structured to the as contribute to articles in programs, of agreements. end in and sometimes going agreements provisions they about individual unusual development a paid suppliers little pay-to-play philosophically, can what how terms on you imply contributions cash the cash

Gerard DeMuro

from will But production very staying typical are development the I The are a agreements very phase, high assistance, comprehensive. level, launch give cover phase. They So away that. Cai. we the these

traditionally, up any, But you launch to as them would are addresses we in other what that. and and how each if aftermarket the the manage of than real, to-date, any product pretty assistance. production little, I though, customers set manufacturing after development call, in the And the and support will that, aircraft might

on Stine, want expand all? to that do you at

Andre Stein

main rationale here surprise in points, any the the aftermarket. to not touched but You is the get

So in we really how deal. set are are that on we cautious

So we leader the my the cash it to questions, is can back previous aircraft costs. deliver comes operational - market, the to that in

it. always is a there very trade-off are savvy we about there, and So

programs right? from previous do with from something bring Given experience [Murray] our (Ph) the company, own we that

Cai von Rumohr

roughly think might operating bit of you range cost what competitors. versus of I little expand you you magnitude have that And that think a Can be? mentioned, the on sort an operating advantage cash you Stein, why

Andre Stein

Sure.

simple avoiding that behind complexities performance costs, our we no maintenance decided example, is is to design, reason towards it? for there so there a what increased being mobility, rationale go, and why So urban tailored Our the freelance. is

apply comes want at [indiscernible], cost. for You that a to

there is were given that So you when performance care aircraft as add this for well simplicity design, mission. of that base designed a a

aircraft. were increasing doing how terms complexity. for when and and done a If and adding our would trade-offs competitive aircraft we that different what if the a look you own at that. different You manufacturing have maintainability, we you add designing for And look of the in you of analysis right. our that or even talking with have our do since you are design compare at assuring internal We understanding event, beginning, be suppliers totes

is maintainability, a advantage designing final XX%, again, the in and But in that. right we design be conclusion less. there our building some XX%, on And even we from a case, bit there the clear know-how, It for got of aircraft the differentiation. that that will create could are simplicity case, our vary it design, track towards maybe to some some operator-to-operator, cases,

that that points Keep - helps how main is for mind a any assuring philosophy, also mind for increased mission are costs main cost of a the the which exactly and that the with reliable keeping user the well. in one have operation, reducing the at designed aircraft you aircraft, that in as lower of experience operational you regional helps utilization

that. are So how that is reaching you

Cai von Rumohr

And one other one.

So with you additional different more I your than bring and you and expertise. service. support have you offering on support competitors focus think Johann And joining, get are much

to to slower you or support on intend service, XXXX. the will would initial be that of of called I XX% - earliest any that of give competitors be terms the IPO you after us revenues come because assume up from and your color your I And support. in in think going you terms Can recognize. entry building in effort? revenues you plans into service are Roughly going how is

Gerard DeMuro

and a substantially be get behind certification it know, characterization probably actually not accomplished, well to as others. we I’m then we There sure operations. to Cai be in to I will Stein. over products quite these is will bit you that turn your through accept

when specific mentioning look at their plan, be you the to it couple in years. competitor, of a business these for two is delivered handfuls of And without products first

that not material to So is exist. going difference I’m sure

Having Stein with I has been you world around said this part think is And of the the very, on that, role. of right of that into with why Quite also on are focused this team are that Stein. is we are. very supporting is experience level it teams. He that bit going a exactly aircraft involved of the reasons And one we expertise bringing planning the launch that. mentioned cities. the the

Andre Stein

all the all, Again, touch we And first the seen coming you or I it you in points. that not. to our also be that have are completely our think agree is main I of that, But ramp-up after case, sound. plan competitors

So it first the really is time, going in share. terms market to us of deliver going the not same to of the that extreme enough year. a thousands in position deliver aircraft good But are aircraft are we That plan. for at you to is create

assets can When how have and you it CapEx initial service of the partnerships we we without Embraer on solutions, discussions the existing so to comes an and are for that infrastructure experience, combining and that structure the with amount deliver cities can where number with in from beyond overlapping operational the the incredible us infrastructure, do help that type preexists of beginning. of

of that that decades mentioned scratch, it it from will that and That hundreds it take - you in us is for that to terms to do of investment. a would network Embraer since pre-existing take us millions it of if the clear dollars a again, network achieve you were beginning differential always

organization on Johann the have lot edge running Johann there, we definitely coming, expertise are, lot of on that with a how deliver So learned creation too. to an that now on had since lessons beginning. actually And been its of and has A to. we

Operator

Jonathan And Koutras our next from question JPMorgan. with is

Jonathan Koutras

Jerry, Stein, Lucio.

next next the motors. the when have thinking on is I this LOIs once begin completed, significant test compose primary early Now am something campaign that expect Is that suppliers about from should named we year? expect we Or converted wrong? it it mid so a be backlog we year, to will into late can prototype

Lucio Aldworth

the are we the orders things and director development beginning. The more show I is aircraft, flying to market. on of in If prototypes the to the terms us something said the of not things just may, That from to two so right related not maturing related. Jerry. doing on, Us too definition early

is that one So track.

better to we working getting comes confirmation, customers case, that having understand of where be now there, exactly it of you that business we what that performance When well, really needs program the craft this selection, deployed, our is visibility and as their the and are very doing what is mentioned backlog because infrastructure are on allow the a for both work have as need be now in we will it type our to us right costs, from the have supplier to milestone we terms key before. confirmation to

are backlog So really real in drivers to key Rio in these this orders in the deals. us for start converting

not if anything to you comment Jerry, sure there? else want

Gerard DeMuro

I you exactly right. are No, think

contingent that two launch priority, the necessarily our frame backlog. be the we While are mentioned balance to on them, the will will is probably then you of the first and through other. with city not The and as convert move the customers said, Stein launch time realistic. And

right We the two-years production to slots. are now working first of fill

and will And will So through ones priorities through early as half it by you be we the move balance. some year. then move I the first think point, we of those they of will convert that see next the

Operator

And Jefferies. Kahyaoglu with our Sheila is next question from

Sheila Kahyaoglu

guys. Congratulations,

again the So of configuration about the wanted and suppliers I talk call. just just Eve to

what X, the or most you you us on made on what finalizations is if Maybe out final. out is have you anything, As configuration was point point to this then significant? some left, Slide can and And refinements. the

Gerard DeMuro

Good Technology probably question, us have pretty our high today just It with Officer. happens you Stine we Chief think Sheila. But I a give level. can so

along. go we as though, refinements further some expect We

title we another the set horizon, rigs. least at on mentioned of and test these We still test, have wind

Stein, wing, do some So the be may you talk et there to to want minor of that? tweaking cetera.

Andre Stein

what defined. that the is is, It where of what posture is Sure. you That actually the is configuration do see?

- And of done the the a together have with motors. to towards disclose. timed been working We it just particularly we now, the while selection what Paris for that in that

offer So that. there is real we move us a there okay, to for could ahead assure of

shape that interactions. of of So the the sound the noise are the fine-tuning we of of But aircraft to these wind, the propellers, you is expect visible. of aircraft really the and interactions of profile the don’t anything the the the blades shape profile systems, tweaking

won’t is change we been the we different the other have anything expect visually, don’t the of interacting optimize and as that fine-tuning how consumption. visually and control users any the well, see that But future loss with really to machine than the pilots human exactly cockpit interface of to really refine battery

that any dive of level on already development. need perceived part that the ongoing. difference to This than see actually of of That refinement of is other the to you is go the change we was aircraft So to visually configuration the set. this it with project. that current tails whole the part engineered of terms see the and in can a of on don’t and on the the as it expect board of to really is suppliers deep of phase there. finalization be the shape, details go any future phase But But

Sheila Kahyaoglu

And competitive suppliers, then out guys RFPs that it. they the on Got all for. wins put were you

they bit question. Cai’s eVTOL. And to these already have any on products little a do other So

Lucio Aldworth

with aircraft, the particular is that other the every down an requirements. to process have its manufacturers, completed. you selection virtually configurations very There of eVTOL all And large to these was were bespoke as They and vendors. eventual and think frankly, speaking performance I Absolutely. and its solutions found one funnel with the final other a

Stein, to you add want to do that? anything

Andre Stein

think I you it no, all. No, said

on We are the track that, too. on right

Operator

And next your is from Austin with question Moeller Canaccord.

Austin Moeller

delivered you here. in issues which will other OEMs do customers first their chain? MRO have access to my Eve, relative shops global aircraft supply maintaining has to once just So Embraer’s question eVTOL What think to and

Lucio Aldworth

access parts, to So place the a the provision There Jerry, existing related of for earlier lease on materials, issues infrastructure. we are initial if logistics only lot having the to of locations even managing in for physical have the I the CapEx that may not start. example,

to and market mentioned, of MRO. As we comes a example is logistics, be you will chat that is experience that, the to able go of not at so good like particularly aircraft, will these that first, I understanding city but first cross-country, level. in - be need that, one different on even what it It fly what target to will happen like

So that. we need we to how really establish do

our as in their into well. customers Helisul with in Paris, customers ahead same but will have discussion A that, fatal of solutions more operation announced example lot in capabilities. work in the go of our have - detail own operators. with one And So the how a to we also Brazil, working the other Brazil, applies moving here for

that So our it the but the on of logistics physical are the is combination from - bringing infrastructure, the DNA [indiscernible] process from the know-how, we company.

Austin Moeller

certification? sites are And to to do you expect ANAC test complete or FAA first and closer to be able collect PDPs the after

Gerard DeMuro

No, fine. that is

through before we the generally, Isn’t as will milestones depend the before and increase. hit then certification those of thing. build I progress XX-months aircraft. XX-months. delivery say conversion same LOIs into firm roughly PDPs payments the on to And the will we start But going are the about both of redo think It agreements. that

XX-months roughly out. So

Operator

Sheppard is question Fitzgerald. next from our And Andres with Cantor

Andres Sheppard

the Andre, Andre. And maybe And you but Jerry Paris as have A been congrats to quite and quantitative. and air of our one seeing qualitative in asked, one at lot questions show.

curious get July. just a of qualitative thoughts there. On guide side, on FAA lot in late that was to is I information There the published implementation your the was recent

were. around at maybe preliminary thoughts level, what wondering, your just high So a that

Gerard DeMuro

Stein.

Andre Stein

them, to had to I industry had we that, preliminary. deep talking answer that, as understanding have dive been that Yes, FAA on an with even with we and and as well a we on was quite discussions with peers our

back in come very exactly as to today tax aircraft [Indiscernible] that. and combustion and an to our So industry similar comment for the you on see engine us what expectations with

But answer We together. are relevant including I gamma, are there a there points working that closely, are few to highlight. think to

We on mobility we operation. focused are understand Uber the that

to highest So standards. safety safety the level, highest we keep need

that show We are there with are that FAA we that required. with We concern. that aligned level are believe, safety of to though, ways completely different is complying

about in are we in keep terms of that talking mind turbine are reserves, when talking So operations. mobility, structure about

knowing So we take where we to go. off, you exactly need

where know are. alternates exactly You your

you and need land. color ad need of when of flying case give on you in are a still It where figure any to emergencies Just different is - time to figure you to out bit out we than talking things to hoc you to are need about.

Structural operations, require you don’t that.

already You off taking potential the before all know alternate.

apply pilots you example. the pipes as is from necessarily capable way. is experience do to there types best different and on the pilots. to need have ways We that assure aircraft Same not of that, different previous board, that the are to of one So but latest technology

a other was that. comment he’s what ensure training to reducing different are and to eVTOL. knows doing training, the We through eVTOL, methods use there of pilot There for for assure key the pilot technology safety another about and of believe for same is ways of flying comfortable aspect our pilots load that level eVTOL the ATP the

tonnes that that now alignments. and themselves for is believe how first So all - different based again, highest on the safety through that far was have, we the believe I came I of issue process, as the industry deliver the in can expected, But to intention it position discussions we going different technologies, showing the heavy. different I believe and of

for are a XXth the - now. there time And month industry comment. is the the line a reaching of It time actually, and the time the is for line you is there

our - side, in made our are already. we have we So good from comments

Andres Sheppard

A one. for quick last maybe one just for question Edu. maybe - And

you credit, in which the of wondering, are total liquidity, $XXX includes funded the I’m XXXX. With million into lines just

and between opportunities. that cost thinking going point which underway. you once have would three are be point. raise that and $XXX different well million is you before wondering process I’m about million, to capital just and at of to a some is said how where you through $XXX obviously all as begin are to you have these expected certification capital You certifications, I the go There manufacturing sort testing expect raising

and So curious to that are anything about you that could how just I’m thinking you extent. say

Eduardo Couto

Thanks, Andreas, the question. for

well very As capitalized, you right. mentioned, we are

million $XXX this have We in liquidity.

to September. facility start development from this line long-term $XXX access to working have We right million the been present in bank standby

have the be with are good cash very this and expenses this because consumption, line, reduce cash That year further, But XXXX, will good of for second be able should amount our of consumption our half this even will been a in because We with quite to our interested R&D line. control shape. right, right. we long-term financed

CapEx, we finance. discussing also long-term some Regarding are

overall, we think those have going We are short any access capital in plan good liquidity the now. I our start withdraw to high. not because do we raise in lines them are still and shape. We to to a very finance is term So

we feeling are So good.

equity mentioned, you we including debt. million Of course, billion, this But total we have as raised already raised we $XXX and - right $XXX in million, R&D.

are in So we good shape.

Andres Sheppard

Got pass and will Congrats I it quarter it. on on. again, the

Operator

BTIG. is question next from our Fong And Marvin with

Marvin Fong

Congratulations what moves, and asking good luck on on follow-up have Jerry My next and of been just Stein. others your question kind about.

of Are now ones. operating some It have your suppliers selected that believe would that like, operating sort eVTOL? you I largest that like the estimates you you like like comment in. that build on now you of suppliers confident of earlier have on still propulsion several percentage you it. for visibility secured costs suppliers, could your what of And Now cost cost on the have to it locked of is and have other kind selected have and the instance, what seems your you for now now you selected on

you on kind sort orders? product much down the have now So the make nailed you costs, comment of maybe actually operating just how your seen have of of and

Gerard DeMuro

both but in aviation, point, is relevant assuring help going on. actual other proportion now think and have actually to the things your we R&D terms cost not it really it battery, is you changer for of quite To is programs. a it that the contract partnership future. that key that an supplier a lot are in (Ph) operational suppliers are know More the to actual It the done game with later an is you us like agreement in place, having understand than Sure. indeed [Letco]

gives country will numbers, not mechanic and and will our that say, sellers from to operational the pilot us on on But to right, change it salaries considerably exact understand that I the future what represents on confidence comment can so cost. and So country, more that percentage depending we on on.

engines of used But to terms internal of represent battery in represents relevance. what commission kind fuel

in play costs. having terms to is to place So how of us going that help in see really operational that out

key aspect on another of course, eVTOL. the Also is, of the costs, of operational it ownership cost the

suppliers answers we select some hand process. the select suppliers, phase next because Already though good even you a well engaged. are with that trough this but more through going heavily understanding in is you are having So of and as having

of costs. this us gives on a lot that confidence future So operational

Andre Stein

seen though of the estimate terms our that basic in change anything building haven’t We would the of aircraft. cost

dependent, will higher, bit we some forecast. the are little it not lower. original little some a volume bit but changing So a are be are And

Operator

no like closing for are to at this further over questions to back I time. would the There floor comments. turn management

Lucio Aldworth

our forward look the were attend. scheduled on [Kamilla] the you upcoming throughout we next to medium our in progress as you, to operating few Thank (Ph). We achieve quarters updating milestones. And events

please you if least, positive. always, reach few to Last thank have friendship team. not to and to reach the As out hesitate any and over last their our years. for I personally to I’m questions, don’t wanted Stein certainly but contributions Jerry to

in We are leadership. are right because in their only we now position of the

So luck. both of best of to thanks and you

good So everyone conference participating in you. you today’s else, thank for Thank day. have and call, a

Operator

teleconference. today’s concludes This

participation. this You may Thank time. disconnect for your at your you lines

Eve Holding (EVEX) 8 Aug 232023 Q2 Earnings call transcript