EHang affirms FY26 guidance of $85.798M, approves $30M buyback
EHang Holdings Limited affirmed its FY26 revenue guidance of RMB600 million ($85.798 million) and approved a $30 million share repurchase program. Q1 2026 revenue was RMB25.7 million ($3.7 million), with a net loss of RMB126.4 million ($18.3 million). The company delivered 4 EH216 units and 1,000 GD 4.0 drones, with aerial media contributing 40% of revenue.
*this image is generated using AI for illustrative purposes only.
EHang Holdings Limited affirmed its annual revenue guidance of RMB600 million ($85.798 million) for the fiscal year 2026, maintaining its outlook against an analyst estimate of $77.100 million. The company reported unaudited financial results for the first quarter ended March 31, 2026, with quarterly sales of $3.720 million, a 3.45% increase from $3.596 million in the same period last year. EHang's Board of Directors approved a new share repurchase program valued at up to $30 million to demonstrate confidence in long-term value.
Financial Performance
Total revenues for the first quarter of 2026 were RMB25.7 million ($3.7 million), a decrease from RMB26.1 million in the first quarter of 2025 and RMB177.6 million in the fourth quarter of 2025. The decline was primarily driven by decreased sales volume of eVTOL aircraft, partially offset by growth from non-human-carrying business. Gross margin was 62.5%, a slight increase from 62.4% in the prior year's quarter.
EHang reported a net loss of RMB126.4 million ($18.3 million) for the quarter, compared with a net loss of RMB78.4 million in the first quarter of 2025. The company recorded an operating loss of RMB127.9 million ($18.5 million). Cash and cash equivalents, restricted short-term deposits, short-term investments, and treasury investment balances totaled RMB1.03 billion ($148.9 million) as of March 31, 2026.
| Metric | Q1 2026 (RMB) | Q1 2026 (US$) | Q1 2025 (RMB) |
|---|---|---|---|
| Total Revenues | 25,660 | 3,720 | 26,092 |
| Gross Profit | 16,039 | 2,325 | 16,293 |
| Net Loss | (126,362) | (18,321) | (78,390) |
Operational Highlights
Sales and deliveries of electric vertical take-off and landing (eVTOL) aircraft were four units of the EH216 series, compared with 11 units in the first quarter of 2025. The aerial media business gained traction, delivering 22 aerial media shows and 1,000 units of GD 4.0 formation drones. Revenue from aerial media solutions represented approximately 40% of total revenue for the quarter.
EHang and its operating partners continued working with the Civil Aviation Administration of China (CAAC) to meet operational and safety requirements for public ticketed flight services. The two Air Operator Certificate holders, EHang General Aviation and Heyi Aviation, completed more than 3,000 safe flight missions with zero accidents since obtaining their OCs in March 2025.
Strategic Developments
The company advanced the certification process for the VT35 long-range lift-and-cruise eVTOL aircraft, which is currently in the Certification Basis definition phase. In Thailand, EHang identified five vertiport locations and completed the survey of the first operational route under the AAM Sandbox framework. In Mexico, the EH216-S successfully completed the first human-carrying pilotless eVTOL flights in Latin America during the FAMEX Tulum Air Show 2026.
Business Outlook
For the fiscal year 2026, EHang maintains its annual revenue guidance of around RMB600 million. The company expects to fund the share repurchase program mainly from its existing cash balance.
What specific catalysts does EHang anticipate to bridge the gap between Q1 sales and the full-year RMB600 million revenue target?
How will the shift in revenue mix towards the aerial media business impact long-term margins compared to traditional eVTOL aircraft sales?
What is the expected timeline for the VT35 certification process to transition from the definition phase to commercialization?
19
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
