Q1 2026 EHang Holdings Ltd Earnings Call Transcript

Jun 9, 2026 / 12:00 PM GMT

Transcript

Key Points

Positve

EHang Holdings Ltd (EH) is transitioning from certification to commercial operation, aiming to launch the world's first pilotless human-carrying EVTOL into commercial service.
The company has cleared certification hurdles and is focusing on commercial operations, with strong public enthusiasm for their RMB299 experience ticket.
EHang Holdings Ltd (EH) is making steady progress in global expansion, particularly in Thailand, where they are working on obtaining the first overseas operating license for EH216S.
The company has a diversified revenue mix, with the aerial media business contributing approximately 40% of total revenue in Q1 2026.
EHang Holdings Ltd (EH) maintains a strong gross margin of 62.5% in Q1 2026, reflecting improvements in manufacturing efficiency and supply chain management.

Negative

Revenues in Q1 2026 were $25.7 million, down from $177.6 million in Q4 2025, primarily due to lower EVTOL deliveries.
Adjusted operating expenses increased by 59% year-over-year, driven by commercialization efforts, R&D team expansion, and increased technology investment.
The company reported an adjusted operating loss of RMB77.1 million in Q1 2026, compared to RMB42.6 million in Q1 2025.
The seasonal impact of the Chinese New Year holiday and customer delivery timing contributed to a decline in EVO deliveries.
Near-term profitability was impacted by lower revenue scale and higher R&D expenditure, affecting financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EH.OQ - EHang Holdings Ltd
Q1 2026 EHang Holdings Ltd Earnings Call
Jun 09, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, ladies and gentlemen.

Thank you for standing by and welcome to the EHang first quarter 2026 earnings conference call.

Please note that the management's prepared remarks and the subsequent Q&A session will primarily be conducted in Chinese, and the corresponding simultaneous or consecutive interpretation can be accessed on the English line.

As a reminder, all translations are for convenient purposes only. In case of any discrepancy, the management statement and the original language will prevail.

To listen to the original remarks by the management, please join the Chinese line.

Additionally, both the Chinese and English lines are open for questions, and today's call is being

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