EHang Posts First Profitable Quarter on Record $34.9M Revenue
EHang Holdings (Nasdaq: EH) reported a landmark fourth quarter for 2025, achieving its first-ever GAAP profitability and delivering financial results that significantly surpassed market expectations. The company announced quarterly revenue of RMB243.8 million (US$34.9 million) on March 12, 2026, a 48.4% increase year-over-year and well above the consensus estimate of $28.85 million. The strong top-line performance was fueled by a record 100 units of its electric vertical take-off and landing (eVTOL) aircraft sold and delivered in the quarter.
This operational momentum translated directly to the bottom line. EHang posted a net income of RMB10.5 million (US$1.5 million), a stark reversal from the net loss of RMB46.9 million in the same period last year. The result defied analyst projections of a -$0.13 loss per share, with EHang instead reporting a net income of $0.02 per American depositary share (ADS). The company's adjusted net income also climbed 96.4% year-over-year to RMB71.5 million (US$10.2 million), underscoring a dramatic improvement in operational leverage and financial health.
We delivered our strongest quarterly financial performance to date in the fourth quarter of 2025... we achieved our first-ever GAAP profitable quarter.
— Conor Yang, Chief Financial Officer
Commercial Flights Launch March 2026 as Production Scales
Building on its financial success, EHang is set to begin a new operational chapter by launching commercial EH216-S flight services in China in March 2026. The initial services will offer ticketed aerial sightseeing in Guangzhou and Hefei, marking the company's transition from trial runs to public commercial operations. For the full fiscal year 2025, EHang delivered a record 221 eVTOL aircraft, driving annual revenues up 11.7% to a record RMB509.5 million (US$72.9 million).
Looking ahead, the company issued a confident outlook for fiscal year 2026, forecasting total revenues of around RMB600 million, which would represent an 18% increase year-over-year. This guidance reflects the company's expectation of scaling production and expanding its operational footprint, supported by its Yunfu Production Facility's expanded annual capacity of 1,000 eVTOL units.
This month, we will launch commercial flight services for EH216-S pilotless human-carrying eVTOL in Guangzhou and Hefei. EHang is evolving from an aircraft manufacturer into a one-stop provider of integrated advanced air mobility solutions.
— Huazhi Hu, Founder, Chairman and Chief Executive Officer
