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MOUNTAIN VIEW, Calif. - Aeva Technologies, Inc. (NASDAQ: AEVA), known for its innovative 4D LiDAR technology, has announced the appointment of finance expert Katherine Motlagh to its Board of Directors, effective today. The company, which is gearing up for mass production, aims to leverage Motlagh’s extensive experience in the automotive and industrial sectors to expand the reach and application of its sensing and perception systems. According to InvestingPro data, Aeva has shown impressive momentum with a 74% price return over the past six months, while maintaining a strong liquidity position with a current ratio of 3.15.
Motlagh brings over 25 years of leadership and financial expertise to Aeva, having served in various executive roles across several high-growth companies. She is currently a board member at Crown Castle Inc. and EVgo, Inc., contributing to their finance and audit committees. Her previous positions include Executive Vice President and CFO of CyrusOne LLC, and CFO roles within the European, African, and Latin American regions at American Tower, as well as at Ericsson, Inc., Nokia, Inc., and Nextel Communications, Inc. Her appointment comes at a crucial time as Aeva holds more cash than debt on its balance sheet, though InvestingPro analysis indicates the company is currently burning through cash rapidly.
Mina Rezk, Chairman of the Board, Co-founder, and Chief Technology Officer at Aeva, expressed enthusiasm about Motlagh joining the team, highlighting her impressive track record in finance leadership. Motlagh herself is eager to assist Aeva in realizing its growth potential and mission to enhance perception capabilities across various industries.
Aeva’s unique 4D LiDAR technology is designed to detect not only the position but also the instant velocity of objects, which is crucial for the decision-making processes of autonomous systems like vehicles and robots. The company’s mission is to advance perception in a wide array of applications, including automated driving, industrial robotics, and beyond.
The appointment of Motlagh is a strategic move by Aeva as it prepares for the broader adoption of its technology in a market that increasingly demands sophisticated sensing solutions. With revenue growth of 110% in the last twelve months and analysts anticipating continued sales growth, the company shows promising market potential. For deeper insights into Aeva’s financial health and growth prospects, investors can access comprehensive analysis and 15 additional ProTips through InvestingPro’s detailed research reports. This news is based on a press release statement from Aeva Technologies, Inc.
In other recent news, Aeva Technologies reported its financial results for the fourth quarter of 2024, highlighting a full-year revenue of $9.1 million and a non-GAAP operating loss of $123.2 million, consistent with the previous year. The company is targeting a significant revenue increase for 2025, aiming for $15-18 million, which would represent a 70-100% growth. Aeva’s strategic partnerships with Daimler Truck and SICK AG are expanding, and the company is focusing on reducing operating expenses by 10-20% in the coming year. Additionally, Aeva Technologies has been chosen by Sensys Gatso Australia to supply LiDAR technology for mobile speed enforcement solutions, marking a notable partnership aimed at enhancing road safety in Australia.
Morgan Stanley recently adjusted its outlook on Aeva, raising the price target to $5.22 while maintaining an Equalweight rating. Analyst Joseph Moore noted Aeva’s progress and potential market significance, despite acknowledging risks related to revenue trajectory. The company also unveiled its advanced Atlas Ultra LiDAR at CES, further strengthening its position in the LiDAR technology market. Aeva’s strong liquidity position, with $237 million in available funds, supports its growth objectives and strategic initiatives. These developments reflect Aeva’s ongoing efforts to expand its market presence and drive innovation in the LiDAR technology sector.
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