- Reports Q1 2026 GAAP Net Loss of
$10.2 Million - Calculates Q1 2026 Adjusted Net Loss of
$6.2 Million (Non-GAAP) - Secured
$17.1 Million in New Capital andEnded Quarter with$17.7 Million in Cash and Cash Equivalents - Drove First Five Validation Vehicles Off the Low-Volume Validation Assembly Line in
Carlsbad - Grew Total Active Headcount Approximately 54% Year-over-Year to 57 Employees, Reflecting Continued Engineering Build-Out
- Resolved Zaptera Litigation, Dismissing All Claims with Prejudice
“The first quarter of 2026 reflected the disciplined execution and steady operational progress that have defined our journey toward production,” said
First Quarter 2026 Financial Highlights
(In thousands, except per share data)
| For the Three Months Ended | For the Three Months Ended | ||||||
| GAAP net loss | $ | (10,194 | ) | $ | (10,867 | ) | |
| Adjusted net loss (Non-GAAP)* | $ | (6,192 | ) | $ | (4,792 | ) | |
| GAAP net loss per share | $ | (0.32 | ) | $ | (0.46 | ) | |
| Adjusted net loss per share (Non-GAAP)* | $ | (0.19 | ) | $ | (0.20 | ) | |
| Key Financial Data: | |||||||
| Operating expenses | $ | 10,332 | $ | 11,162 | |||
| Other income, net | $ | 138 | $ | 295 | |||
| Cash and cash equivalents (as of period end) | $ | 17,721 | $ | 10,746 | |||
*See “Use of Non-GAAP Financial Measures” and reconciliation table below.
Business Update
Subsequent to quarter-end, the Company drove the first five validation vehicles off its low-volume validation assembly line in
During the first quarter of 2026, the Company strategically deployed capital toward the procurement of critical long-lead components, materials, and supplies necessary to advance vehicle validation and production readiness. The Company also continued to scale its organization in support of the production-readiness program, growing total active headcount to 57 employees as of
Liquidity
During the first quarter of 2026, the Company raised approximately
In
Use of Non-GAAP Financial Measures
This press release includes Adjusted Net Loss and Adjusted Net Loss Per Share, which are non-GAAP financial measures. We define Adjusted Net Loss as GAAP net loss, excluding (i) non-cash stock-based compensation expense and (ii) the litigation settlement charge related to the Company’s previously disclosed litigation with
These non-GAAP measures are presented in addition to, and not as a substitute for, GAAP results. Non-GAAP measures have material limitations and may not be comparable to similarly titled measures of other companies. We encourage investors to review these measures together with our GAAP results and the reconciliations provided.
(Unaudited) Reconciliation of GAAP Net Loss to Non-GAAP Adjusted Net Loss
(In thousands, except share amounts)
| For the Three Months Ended | For the Three Months Ended | ||||||
| GAAP Net Loss | $ | (10,194 | ) | $ | (10,867 | ) | |
| Add: stock-based compensation (G&A) | 1,340 | 5,287 | |||||
| Add: stock-based compensation (R&D) | 2,016 | 788 | |||||
| Add: Zaptera litigation settlement charge | 646 | — | |||||
| Non-GAAP adjusted net loss | $ | (6,192 | ) | $ | (4,792 | ) | |
| Weighted-Average Shares Outstanding | 32,145,836 | 23,377,204 | |||||
About
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our plans and expectations for validation builds, the expansion of our validation fleet and testing program, timing of component deliveries, anticipated commencement of assembly, future production, manufacturing and assembly scale-up, our expected capital needs and financing plans, the potential exercise of outstanding warrants, our ability to access and utilize our equity line of credit, our path to low-volume production, the timing and scope of customer deliveries, and our overall business strategy and outlook. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “continue,” “advancing,” “scaling” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Aptera’s control. These risks include, among others, supply chain delays and disruptions; our ability to hire key personnel; the feasibility and timing of scaling our manufacturing processes; the availability and timing of required capital, and market conditions affecting financing; regulatory approvals and compliance; our ability to continue as a going concern absent additional financing; our ability to access capital under our equity line of credit and other sources on acceptable terms and timing; our dependence on successful validation builds and timely component deliveries to achieve any production milestones; the previously disclosed material weaknesses in our internal control over financial reporting and the timing and cost of remediation; the ongoing
Contacts
Investor Relations:
ir@aptera.us
Media Contact:
media@aptera.us
Source: