EVEX - Earnings call 4 2023 | Eve Holding, Inc.

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Operator

Greetings, and welcome to the Eve Holding, Inc. Fourth Quarter 2023 Earnings Call. [Operator Instructions] As a reminder this conference is being recorded.I would now like to turn the conference over to your host, Mr. Lucio Aldworth, Director of Investor Relations for Eve Holding. Thank you.

begin. may You

Lucio Aldworth

me have Luiz full Bordais; Officer, CFO, CEO, Good Director I operator. the initial their wanted This Lucio XXXX is welcome Thank Investor remarks, morning, Relations and call. going our the Chief and call quarter fourth of to I to questions. earnings Couto; open our at Johann with Aldworth, here conference Technology Valentini.After Eduardo everyone we you, are our everyone. year Eve, to and for

We a information have slides on few our deck a with and website additional at ir.eveairmobility.com.

statements, obligation are and discussed that, any may, could Johann? this turn in statements.With circumstances events presentation markets.The and we feel political, words trends to download anticipates, presentation including, future these occur statements projections future These our the our because expectations estimates, based uncertainties, from substantially on it financial to performance. free differ results about and includes to So in have the our events -- other of statements those tag intended statements please and and forward-looking among to that events, and want this no in and forward-looking Johann. things, other not business that are future events risks, our actual With largely anticipated or factors. statements to future I and that to subject occurred. intends, will, over about similar along.Let start economic, conditions me undertake or forward-looking may are yet in both current first forward-looking update and These publicly saying our Brazil identify revise expects or continues, assumptions, and by and words presentation believe, circumstances it business affecting or financial information, new general not

Johann Christian Jean Bordais

each that achievements. commercial our and today. motors, subsystem building busy had was different And with us allows once conditions especially up incorporate our a propellers, the when flight-critical as the This reduce components prototype.As that specification We involve components with of optimal initial have the until year with eVTOL and dimension of for the and for the had for under June volume This thank important with the Thank all and our morning, binding joining aspects the we as like it find development unit like independently. several rigs XXXX of our system design them influences last program, I to most then We program a each we design assembly but with we be to price, by of an milestone with unique prototype, of requirements the I of reminder, you, only configuration. in all to parts. you signing cost.So the individual for process schedule, quicker and and of year, the the us very of the us and also and nonconforming energy the that we the directly a Lucio. well efficiently system starting the And in the already comes suppliers the Embraer start of tested methodology. would configuration. the to the proven test way, all, the the the was by the like full-scale defined first would the enabled these one conditions. say the among approach selection definition Good the the support contract of this call architecture the defined.Technically, the system, electrical the last year including, We component management aftermarket highlight to

call other internally the give each for This the interact integrated suppliers going to also September -- over a on the interacts is with system.I'm started counterpart our details engineer an when also selected We the each Joint and go have closely seamless how of you with example work to we and JDP. will we here. will the all Phase, their Definition component

it will think I be concrete. more

course, JDP, the will system data flight which the are the and define putting multiple supported airspeed fly-by-wire surface the the the During sensors we in will team after interpret data, flight avionics how control humidity into by the in command.This, the to will temperature, relative pilot order that the system control feed the of be will place.

processes as parts different impacting complex involves task each you it's a that can very of with a other several lot moving So see, interaction. and

the the conditions, make to a obviously, which to could to is bad delay, Air in used such right tests seamlessly is it that and was the incumbent Slide traffic FlexJet, test better conditions, U.K. they the -- in Management, from was simulate that to the a Urban operation us Traffic the validate conducted also just we includes ATM concrete in different the software, the the under but with X. here management under It the Halo. with latest typical and air development It in and, safely.Now already software. normal learn have focus function the successfully afterwards. all to very shows We exercise as in systems and software it operation.We operation software And weather. to partner, the But work their and So operation. it the X-day now deployed design run some parallel going we refine

So -- the Brazil, see the in from here excited a that took in moving where state, pictures slides, can this.Now our you quite of prototype. just we facility Sao Gaviao Paulo to full-scale have -- state Peixoto bringing test the slide, in next several process about couple of we're we

the harness, You computer, the between connectors flight also actuators. forth can inside that soon the see and are all electronic and will These all the information comments wings the the back and and the electrical we and sensors empennage. place carry which

the detail final you of the is here, really wings, fuselage, structure stabilizer the getting the see also of can stage. slide of prototype vertical the to go empennage.If You the the you early the stage the which the and next shows

in have the positioned empennage even a to marriage, between the to flight year.Going the in call test motors fuselage. on on the on marriage way and fuselage Slide test, few the surface internally it the we'll the also skin underwing. install necessary empennage call and We just the the nice eVTOL, the the and like next perform also expect be to second the and now the actuators, of later have And the the We to and junction, we once control semester, the weeks. this wings, concluded wing but we composite, the still We ground campaign electrical receive we the which in start #X. we plan the the

X showing the is to here our first start of several latest the use of will prototypes. this Now announced third additions the to suppliers. you we have quarter 'XX, for component Since which our list, conforming suppliers we

best-of-breed surface industry are of Honeywell the we lastly, reduce in that our for Really unit for here the pilot with us actually will have important this price, capabilities. life reduction latest We Recaro empennage; the FCC, Crouzet early the eVTOL flight DUC also to economy with in to Embraer And the us and the suppliers these all lifecycle provide quantity BAE the and manufacturing the which the control provider, Eve's as leaders eVTOL the contracts the defined then fly-by-wire management, XXXX and systems, propellers. flight a for a suppliers for sensors Spanish support experience as suppliers the of for the the with and management also of the call assist group aircraft function joystick. on systems for for control motors, we FACC the energy developing, volumes Embraer join the scales.These the sites, designing, flight We the Aciturri, And the computer, we and navigation. support right, their for bring and control of it of selected a will delivery, production, with out the had approach Nidec and we it high-resolution integrate new seats.These joining also reach hardware certification.Garmin unit certification process.Lastly, throughout for the the informed certification, call Helices and deck will supply but also cycle, the have deck the price eVTOL. not aviation higher the supply with the system. and select Thales and of also will fight control, guidance in campaign to display signed wings; certification to signed have our production already that provide in the we control of price flight with will electrical and scale with for have and the we highlight and only also in importantly, schedule the

selected performance, control the We provide they're not soon.Okay. the also very the for We actuators critical Liebherr selection the equipment. thermal a us the system management but process like few to and as the have for to the cabin Intergalactic conclude that still flight select, expect suppliers for to aircraft interior, transparencies, we

in obviously and our is on list, I'm entire master an an the shows -- the that level development X. certifiability of safety the we We're very we in It to and confident eVTOL.Moving at increasing. Looking are performance up now entire to which Slide XX%. the phase. that are of

different certification certification, really before, what the customers in have manufacturing being good to X,XXX I that businesses our in we're main diversified platform, and link But is later our our and As of It we we but includes The today. LOIs detail region, aircrafts over receive have, still phase site the a the most Type customize need the integrate industry and the the as by ago. site assembly system by year. in a soon ridesharing our judging definition In months the Embraer. from phase few that the XX whole to manufacturing lines total, to largest we be interface process the delivery altogether. progress make operators, all we well.As At currently we in diversity of believe, the it this current prototype, used regional announced they This the the the by by leasing -- the to are currently different pace system make already XXXX.Moving Slide will helicopter by a of to also different to #X. also of countries reminder, from XX first spread we to mentioned shape and to airlines the start customers, currently shows have the sure on joint is selected company. number to own for in and on backlog a

we that complete. in that for and aircraft.An we very to ecosystem besides energy challenges it's value to also area the one It's customers have And service -- LOIs maintenance the we the Traffic for are dear. developing partners Management such system overhaul obviously, the bring the simple more support see, really offer XXX that mobility, vehicle. bring and million repair we're is of next LOIs to important XXXX.Importantly, new also the the different and our our in network And from the in this, the believe it's securing a $XXX can customers over you to strong and for industry which X the XX than nothing X about We'll order different and really customers. XX of up -- with we to the okay, the that contracts to as have we will address years for book. of important As customers -- years Air about it's revenues this these whole aircraft, market-leading the main infrastructure the for Urban air of placed actually, delivery XX% represent our our -- have also proposition partners.Beyond of the first and in course they create development Eve delivery, reflects me

are the within competitors. X,XXX that potentially can about we Because the we did those base expand of we agnostic can this that aircraft. potentially also. customer I It means business eVTOL So this service mention our

it services could help support cash for service and the collect in consumption as actually intent letters revenue to payment we known like come years and visibility, But to our then and aircraft start milestones. vehicle. sales.We flow to the of invite and go existing Our revenues believe orders predelivery converting Edu over PDPs.Now I'd the strong the also service long-term our smooth proceed that offer the a contracts will Eve pipeline is the into to next the financial as

Eduardo Couto

Johann. Thanks,

XXXX Slide XXXX our moving costs Now highlight With development. the system. a I million reflect million X. our smaller full in mostly development majority eVTOL service and developing and program Currently, associated invested $XX with was year. $XXX in our in during support the Air of that to fourth program mind, invested portion the is around our the financials and financials.Eve company its The Eve quarter our the Management eVTOL solutions to and ecosystem to Traffic went our and to a Urban preoperational some want it. develop

aircraft We only a traffic services design, well and manufacturing, as are eVTOL of includes company maintenance with as and the solution an that complete control development, air sale software.

year.Now the and the and to and in SG&A, $X during reported the deployed $XX moving of Including million quarter R&D loss in million we in SG&A net million flow. quarter $XXX year. also We in a million cash the $XX

suppliers, increase million from quarter cash, anticipate liquidity total into Bank. liquidity the still the our to access we would the the in with $XXX of to It's we of XXXX.Eve comfortable Brazilian current believes consumed and highly enough a important still with XXXX We third we $XX quarter $XXX credit the end and from in as the is $XX be XXXX $XX that Development quarter year. from this operations cash just $XX to drew million expect preapproved our XXXX. operations line its ended of sustain line total around end million in around have million of $XX the million the our say an with available announced tests in we We our that models. as of in and milestones. fourth Our And components as full-scale million million down also validate have froze have Slide we of to aircraft and slides as happy development XXXX moving critical XX the in our consumption checklist most going with of to selected configuration XXXX. that systems to a to first our few around for or selected we We different say are payments last I'm of higher eVTOL intensify assembling tunnel components, Johann the advanced ago, semester assembly milestones test involves our our our year.And for previously our now, showed first of rigs our exceeded a prototype. either wind prototype with are and which in primary suppliers we the forward.Now met of of first our the

lastly, factors.First, program a on run trial range under cost our to in conditions We invested company. real-life U.K. X million $XXX software as given XXXX, $XX main lower of discipline late have our anticipated conducted our $XXX also our a of the successfully UATM which control in we last guidance during than is preoperational year. million the million And in continuous

of last to payments full-scale and that our an the with existing of certification eVTOL important managed we from synergies years the to we conclusion working work It's parallel, XXXX.We the moved the expect that the we preparation have And extract to achieve first Second, Brazilian to the authorities. with conclude initial ahead.The tests. manufacturing in the in for means we Brazil for compliance site as of of basis authority, the dual savings primary Embraer. type In in with to plant supplier some FAA third, Brazil. certification we and XXXX slide includes start Embraer in milestones remind XXXX our also certificate in in Brazil from alignment upcoming lays of and U.S. in certification our prototype

$XXX of open I million site.Finally, to working this please our cash conclude call million secure in XXXX, our we financing necessary long-term Operator, between a to expect to $XXX year.With We efforts like through funding are and consume remarks, that, would questions. this proceed. all and the for also we for to the

Operator

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

Savanthi Syth

timing color I I might can the throughout of wonder And around bit component burn -- that a cash if here you what CapEx? can be of if outlook that on steps little year, the if the up? give

Eduardo Couto

It's Edu here.

our well. to We're will facility, as existing the is selected an for right, suppliers of Embraer So have be the first the would speed. to manufacturing includes is But $XX a for site. Sao right? tooling cash to start this buy maybe go going which development, basically, payment We in facility. be this Paulo. There machinery consumption full our on mostly facility moving component The million development I some cash really around at of the first focused on and to the say really will remaining that consumption will

Savanthi Syth

steady? And that the Or steps up is through fairly Edu? it year,

Eduardo Couto

second in than it and Generally, half XX% probably XX% XX% we -- second. will the But like burn XX%, first believe in be I the half the first. in more in the XX%,

Savanthi Syth

helpful. kind burn $XX million much that's if just you the on might I burn. of of kind of loan, That cash thoughts right? in cash And not might That's And guidance, tap might lower BNDES should how just into the clarify, like the the in on -- XXXX? to

Eduardo Couto

withdraw the accessing million. line this year. right? upcoming that We correct. all we are go $XXX million, big from going cash this That's have half, continue the that Because line. $XX fourth other access $XX million we're since going to -- our of million, going year. the the a burn means we're that quarter.And well will million, half right, quarters hold going to $XXX year, to in down we to We BNDES cash That That's advantage, our around is say to $XXX When full last already that, position of this the we're took only from for pretty right? in

So million. down right, very go will little, our $XX cash around

$XX million. million is $XXX the If simple right, BNDES. you do math,

current should The cash. work. how from it other our $XX That's million comes

Operator

Cowen. of with von Rumohr comes Cai TD question next Our the line from

Cai Von Rumohr

environment? read looks basically longer. probably seems of And And you EASA mean to some take the to I by the to good and what news. Joby is I the regarding at Could you that that everything with certification you yet going mean if update GXXX, longer which maybe require has harmonized what us major on like aircraft do, FAA they're look

maybe tell there. that respect are about be fact and us And so and going the with the environment you basically certifying to particularly ANAC to

Johann Christian Jean Bordais

year, certification ANAC, obviously But They discussing. Johann are we will They consultation. also details. exactly. a more we'll to the last will an they the end that we really remember here that speaking. from the with associations. also including be primary month. this closely. mean, -- to for association are with alignment is very And I public input, see Valentini opened This period and end And recently, the And topic but of lot extended actually that be to we is going FAA in our expect as we're responding well, airline you following authority of as other feedback, probably and of this have have important

So know that we're Valentini? direction. we're right we'll more quite to confident then. And going by the

Luiz Valentini

you Sure. Cai, good to talk again. to

So on that visibility we publication which good us harmonization with exactly indeed basis have as that too, us we the alignment they Johann it the make that allows that certification with but still sense availability both that said, to established. the right? align we with publication is mentioned, maintain we the helps helps final, So not both direction them, the complementing it in the not aligning.We're of saying to necessarily in traction this also this us comment, and have as what with not of go, have in basis be would maturity it to us will of more before, path sense the same, able to that with we but as with Joby FAA our the the another ANAC have ANAC, gives we be the of for public makes set basis project, this basis timelines that of we requirements that that publication Johann EASA confident, have feel but we are sure to and work following mentioned yesterday also to in

Cai Von Rumohr

Terrific. then one. last my And

market any a a mean regional of market, eVTOL a recently from but the home so talking of of were guy a his back has you So about kind and thought to at his of of miles might to potential XX which they away, to that his competitors, maybe airport sort as his they potential or to with a flies your airport, into fly type that there customers talking or -- retail he regional one home your shorter that by market? be use application. business, bizjet range any takes -- he looking Have put a

Johann Christian Jean Bordais

buy cars? what you his his eVTOL, will mean own he Just and eVTOL, you're Is eVTOL you fly a with his you're own to? own say there. just that referring question like When doing that

Cai Von Rumohr

yes, exactly, exactly. Yes,

Johann Christian Jean Bordais

-- they will their don't be house call to and no, house, service we this taxi beginning. we or where do will we're offer. where see be the no, or an unless to eVTOLs. Republic have driving premium vertiport, the and of driving no, first Valentini? want model it's maybe with people but don't cars -- No, working mile at close you anytime to would type that mile, very flying we the for functionality. just they the happening don't No, see -- see customer go that commonly Orlando, We We or last will soon airline the autonomous this. no. putting And the air a their be call And very what exactly on

Luiz Valentini

Yes.

one point. Just more

so and the authorities considered, understand it's would that centers, flight populated in level so is a be think the I path. meet Because urban it certification certification vehicles significantly that the an the just at still will triggers have things so higher much I authorities by -- and like of much, change of to basis the Cai. from terms that safety still consequently the being see urban be important in right?So published at to mobility that areas if that considered wouldn't areas, on that think least and levels, I to don't wouldn't it it's what safety which understand effect that, least around densely -- have that, far, wouldn't changing important the the one the of so certification over as the it's design, that terms of

Operator

Our next line with comes from of Kahyaoglu Jefferies. the question Sheila

Sheila Kahyaoglu

with questions, X prototypes this Just to Savi's mentioned the testing you begin -- to additional of in half. one second year,

how about we and CapEx think need what's support Hello? the hear do the of, kind build-out to Can that? you just So me?

Eduardo Couto

you I we the first can to the -- and elaborate the can go then first on the come, yes, Valentini, can. comment and on you Valentini, others on prototype CapEx.

Luiz Valentini

Sure.

So the first final prototype, as means that which the that one we vehicle will one doesn't start exactly have. testing nonconforming the Johann that this prototype, it a have year configuration is described the being the will commercial

we're And vehicle.The to we vehicle developing so some tests have the to us year. prototypes the for allow anticipation bring to commercial with will the technical time will make the until that knowledge of start when validate respect of some it not solutions commitments next of the with to the currently commercial

that described to a prototypes, different specifications, of And certification specifications the will the Type they so connect Johann ones the the -- product then and used suppliers those and have the certificates. campaign be that those we in set be will reach to for for then, And presentation.

prototypes think Edu I So then the on... will on. come later mention on Then investment can these

Eduardo Couto

Yes.

the And include year mentioned also all it right, start -- the on the receive year, are when tests conclude assembly for available And long-term per the million. -- about in expected is assembling right? million already also started the the development on some finance terms program. on first to maybe other already This have prototype guidance year, does mind to itself, of from In the $XXX we included the it that does development still going we of investment, engineers BNDES. $XX we we have of prototypes, and the include consume investment this to the parts million start We're assemble. prototypes. to and from right, for whole have the But $XXX or the

will of the actual burn million. So this only in be $XXX cash half

Sheila Kahyaoglu

suppliers about if you on. maybe that then with brought And that Great. ask could is guys the the relationship Okay. suppliers? How working I

Johann Christian Jean Bordais

as of relationship known of actually most partners Embraer. the time we've Embraer suppliers is are right? also, great. Well, see, Yes, is can the you from that They them

of But with the And them only engage. methodology services. were not. production the said, negotiation Some the but it's conforming I is throughout not very series, customer like and do to support also about prototype we and well-proven and have

discussion and JDP. lifetime negotiations detailed all the We the very of on engage are a that we last engage do for then September. in we cycle.And whole in automatically we And those started the engineering. So XXth

the So [ of so engineering engineering presentation, the this I -- a where physical one this Embraer, interaction with in the and can it's San how Francisco impacts there's but the Eve in of we my also ] suppliers presence really between other. and system explained big

So I efficient. it's it's think and really good been quite proving

Eduardo Couto

If I may add, Johann, regarding the suppliers, Sheila.

talking really They that have in difference whole not contracts only our we about suppliers. So just the is that program, long-term one road. XX-year XX, big with This terms throughout go the series more It's have of down the development, happen we're but right? We're the believe to will for than right? of payments, to we also going contracts, we signed. in how they payments delivers, reinforce right, And contracts those have.

So that would say all I the much we suppliers, to years. pretty several accepted they spread them payments over

succeed out I on Eve, confidence, we other the seen think different there. ability contracts to we this Embraer, the in with on them, And and have that program. from is it sign right, reflects they our which that, it some contracts shows fully have

Operator

line with from question Austin the next Our of Moeller Canaccord Genuity. comes

Austin Moeller

the high activity volume, coolant throughput question system first or have high either do itself plans right the cooling day? flight my any using charging here, Just condition you now to battery to the thermally enable during

Johann Christian Jean Bordais

Now, we our CTO have going this glad I'm with deep us. is there. And

the really ahead, Valentini. So you he there. get -- Go walk can answer through

Luiz Valentini

Sure.

very eVTOLs and the we're is on of right? in work, general thermal between the times seeking turnaround are that considering So we shorter the need the So how will in of a the in ground faster especially which cooling big management cases flights battery, charging. part the we cooling,

it considering the charge definitely us it a the a it discharge of the we're battery the turn will big the a or before because it, cooling we cases, lifecycle makes for it and having the So postpones system starting battery.So condition those charge that our as allow cost. degradation results battery to reduction difference operational degradation to of on that slows of in then which in

and have enable the of provide us to while So vehicle temperature inside do equipment to working system infrastructure we keep that the do the it. coolant will and to a the we with And charge cooling both that the for that. are that charging we thermal us charging battery exchange

Austin Moeller

And we be think that prototype? we action item? a testing the testing follow-ons? XXXX as on should should And Or of would flight flight Great. manned of the then manned about expect more first

Luiz Valentini

Yes.

start we Peixoto the it board. a with testing station Brazil. the test on ground from testing will of will piloting facility prototype uncrewed And the described in made in Embraer in whole remotely Sao here Gaviao an we So a that vehicle, person this first in Paulo be without

first the certification, on prototype uncrewed be used is that mentioned So a with those campaign for will board. But those vehicle. have will be this only piloted, that test then an so prototypes uncrewed pilot vehicle. The an we only and will

Operator

from comes with question next Our Fitzgerald. Cantor of Sheppard Andres the Instructions] [Operator line

Andres Sheppard-Slinger

developments particularly and expect support there? be some the the into support in revenue peers emphasis are revenue from on I'm there, your onwards? wanted we mentioned and the in to that kind it on might quarter. what and service what at large your least entering you're have past. what service on So This is developments the XXXX? area are next or obviously curious, service year as stream a Congratulations the touch maybe of I And -- placing targeting might latest an stream. of

Johann Christian Jean Bordais

great so I heart it to comes service dear it's take when support, one. Obviously, A to and question. my will this

As that really one we and that service we're to you can then are with And before, ATM stream enter it linked certified aircraft I with -- and There's software into it's kick-in happen it is revenue agnostic. so the could we and developing services. to those $XXX see, could of airplane have mean, need up that support It's pre-sold. million really the the operation. we worth to service we

yes.But on vehicle, to very availability. believe same on where our part the with operation And the goal, all support that but is also that's make of have operate boots to to want and we the ground way concept, smooth. there we to sure the one is the we So, do the ground, that guaranteed they availability. and have make ultimate be -- customers sure That's it, to

we And the make obviously then the aircraft reliability. segments, money So with vehicle. demonstrate can operation, the the customer

that the looking have a very studying want very the happen is replicate.So from is whole applying total be program, they market full right own and their are and all spectrum, learned, the remaining. want to battery. XX% be the this able the support, what learned are traditional package.I maintenance, this model going been say, having a with we is and having recycling battery and for now. service. -- that going away have exactly it little we're it the of spare the differs operators also every having that let's to There train the they power how's go ala with MRO, the And the what And to the be a to service support this what's mechanics, we're at this also, going we we're parts And service they heritage and charging has with engineering package, a then those perform those as their that's is year, Embraer. lesson something exactly manufacturing is changing are much we've fly-by-hour want right carte to and important. to fine. -- to to Engineering, all bit can support to And So think done. we and to the the another we going be really And full going support from years, then get support, and

customer really be have we'll we're to on right choice. at look what this. now So rest the And to on model. doing.So very traditional going it we're The focusing depends is

then -- much that they executive or to way way turnkey independent. we'll of then want others support us solution, be the jet very more and Some type support other supported. is And are

Andres Sheppard-Slinger

it. quick for appreciate And That's Edu. one I super that follow-up Got maybe context. all question helpful.

now? of if much can $XXX to consumption maybe your I'm CapEx a that guidance we get what's wondering within million, building OpEx of on you maybe million year? for these should color $XXX how you're expect So little some we units into more well? translate the this How think think CapEx, to And about as this as of for about way particularly cash also do best will year

Eduardo Couto

around I right? on the $XX mention, We $XX say but come of prototype the is may And is will said, majority the really vehicles, start campaign. test on the the engineers prototype focused majority are, of prototype. development, is the to on the at flight first includes, would I full the XXXX development course, X the The upcoming million, speed of the development right? full million we to the This spend important as of in additional and are that right, that that also coming,

only So money may much that. it that money on in there It's upcoming are of our the plant lot right, this spend not facility, we But Brazil. that XXXX. in be manufacturing is a we some on shouldn't first putting vehicle.And

are be should But say still of But bring facility we majority flight well. will the the it as that be campaign. investments for on vehicles investments there for more that on CapEx the So engineering the would in the test some development multiple I XXXX.

Operator

a Syth Our follow-up question James. line with next of Raymond is from Savi the

Savanthi Syth

solidify contribute perhaps Is might the X there it certain the milestone? Is flying on clarification those to when next that a what kind when first PDP flow? prototype of Just even LOIs? Or go PDPs. or of to and able other kind year of be you're flying of a is first kind kind prototypes you'll the

Eduardo Couto

haven't... We

Johann Christian Jean Bordais

No, start. ahead. Go you Edu. Go ahead, ahead. Go

Eduardo Couto

in say, translates LOIs you -- multiple was payments right, have industry. into have referred to going firm right? as the and pre-delivery is Savi, I also focus campaigns No, the into Okay. We multiple to in by you The convert just which start to discussion, we deposits, backlog those largest orders, see the customers, can as to.

think So taking of those customers year, going those next, orders sure can is vehicles deploying when payments.But engagement they're 'XX, be going is important the and thing lots, cash years. them. lot the are this comfortable upcoming year is and going to down I come the be in deferred would the going going to this going with these But PDPs -- really start the and to where and eVOTLs, number to to a they're I the the we're they're to to with of come, the make come, But and say This receive most most pre-delivery payments add. Johann right?

Johann Christian Jean Bordais

Absolutely, Edu.

that our this And game skin what And have more from I a I this to important is like LOI to really call purchase sure need the into And of traditional right? engaged, very not some we of on And they're right? ecosystem, not to think customers whole and sign we agreement, it but all time, those customers because year we definitely stakeholders. it's the purchase the think need the convert really that just takes than the for discussing The this an asking we whole want the adding engagement. make the why because aircraft we get have this. in this, with first have we've those takes the fleet. so the people, one what much of So it And it's perspective, not your -- ecosystem. from it's customer, this. been you're agreement but And it's resources. It's is PA from is to engage, to is cash about. a much it's

Operator

Our is Rumohr TD the Cowen. from a of Cai next line with question von follow-up

Cai Von Rumohr

that So or of $XXX kind how contracts, of the million competitors competitors? of much customers your with with service of your is

Johann Christian Jean Bordais

be agnostic, based None, offering, aircraft LOIs, LOIs really the to all it's None. eVTOL. on okay. this are on the It's course, for current And able but all Cai. the we're in what of to go

Cai Von Rumohr

that Archer you. of that they have But be to ultimate they long are to hope either and don't? a efforts How given or and you of service doing them certified to customer, of their your capability Joby kind in given indicate services ahead you history sell to

Johann Christian Jean Bordais

customer you from it or comes to support Yes, services. it an and I'm know standpoint have we have make been common asking, when operators that customers does operator do sense and view and of sure

You want to contact. one point have of

same don't your nature. You want to contracts multiply of

few go for service it's like this or to fact, you We've us just can the you expertise where independent different we're then It have through when to have agnostic conversations offer eVTOL you're with right, And going vehicle. of having a and a have the service.So been down MRO MRO look well example, MRO, start about If exist might as asking type does are provider there one OEM That's comes and support. matter that's and concept, when today, you United, as that open. for one sit they've how to of do support. talking service on the where we been it other

that more it lead the we'll nothing stage. concrete be So at will take but natural this on this,

Operator

session. our Aldworth turn the any for gentlemen, back and floor comments. that Thank question to and you. I'll concludes final Mr. answer Ladies

Lucio Aldworth

the joined And want you, everyone Melissa. thank call to Thank who I today.

We're you and, more there important past course, come. engaged As is can to year. fully much this see, we accomplished of several milestones

look of of you look all going next you, in to progress the on meeting attend. our to do upcoming the events throughout updating to course, and forward. few we We're forward So to continue going quarters, we're you

day. you As hesitate reach have to any always, questions, Thanks and if don't have you. Thank good out. a

Operator

call. you. This conference concludes Thank today's

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

Eve Holding (EVEX) 8 Mar 242023 Q4 Earnings call transcript