SEV Aptera Motors Corp
Price Chart
Executive Summary
Aptera Motors reported Q1 2026 results with a GAAP net loss of $10.2M ($-0.32/share), slightly narrower than the $10.9M loss in Q1 2025, but the adjusted net loss (non-GAAP) widened to $6.2M from $4.8M. The company raised $17.1M in new capital, ended the quarter with $17.7M cash, and drove its first five validation vehicles off the assembly line post-quarter-end, but remains pre-revenue with no guidance and ongoing cash burn.
Actionable Insight
The EPS beat vs consensus is misleading given no revenue and a pre-revenue development stage. The validation vehicle milestone is a positive operational signal, but cash burn remains high relative to cash on hand. Monitor the next 10-Q for cash runway updates and any production timeline guidance.
Key Facts
- Q1 2026 GAAP net loss of $10.2M vs $10.9M in Q1 2025
- Adjusted net loss (non-GAAP) of $6.2M vs $4.8M in Q1 2025
- GAAP EPS of $-0.32 vs consensus $-0.48 (beat by 33%)
- Cash and cash equivalents of $17.7M as of March 31, 2026
- Raised $17.1M in gross proceeds from follow-on offering and warrant exercises in Q1
- First five validation vehicles built post-quarter-end on low-volume assembly line
- Headcount grew 54% YoY to 57 employees
- Zaptera litigation resolved via non-cash settlement of ~$0.6M
- No revenue reported; pre-revenue development-stage company
- No guidance provided
Financial Impact
Pre-revenue company with $17.7M cash burn rate of ~$10M/quarter; $17.1M capital raise extends runway modestly
Risk Factors
- Cash burn rate of ~$10M/quarter implies ~1.7 quarters of runway without additional financing
- No revenue generation; dependent on future capital raises and production ramp
- Ongoing SEC investigation and material weaknesses in internal controls disclosed in risk factors
- Dilution risk from equity line of credit and potential future offerings
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-022729 |
| Exhibit: ex99-1.htm | 0001493152-26-022729 |
| Document: 0001493152-26-022729-index-headers.html | 0001493152-26-022729 |
| Document: 0001493152-26-022729-index.html | 0001493152-26-022729 |
| Document: 0001493152-26-022729.txt | 0001493152-26-022729 |
| 8-K Data (Synthetic) | 0001493152-26-022729 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 29, 2026
11d ago
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144
| $2.30 $2.18 | ▼ −5.22% | ▼ −4.92% | $2.12 (−7.83%) |
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May 28, 2026
12d ago
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144
| $2.45 $2.18 | ▼ −11.02% | ▼ −10.97% | $2.12 (−13.47%) |
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May 13, 2026
27d ago
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Press Release
| $2.58 $2.46 | ▼ −4.65% | ▼ −3.93% | $2.12 (−17.83%) |
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May 13, 2026
27d ago
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8-K
| $2.58 $2.46 | ▼ −4.65% | ▼ −3.93% | $2.12 (−17.83%) |
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May 12, 2026
28d ago
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8-K
| $2.58 $2.47 | ▼ −4.26% | ▼ −4.34% | $2.12 (−17.83%) |
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Apr 21, 2026
7w ago
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424B4
| $3.10 $2.86 | ▼ −7.74% | ▼ −7.80% | $2.12 (−31.61%) |
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Apr 21, 2026
7w ago
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EFFECT
| $3.03 $2.82 | ▼ −6.93% | ▼ −8.01% | $2.12 (−30.03%) |
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Apr 14, 2026
8w ago
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8-K
| $3.13 $3.03 | ▲ +3.19% | ▲ +4.59% | $2.12 (+32.27%) |
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Apr 9, 2026
8w ago
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S-1
| $2.78 $3.21 | ▲ +15.47% | ▲ +12.28% | $2.12 (−23.74%) |
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Apr 7, 2026
9w ago
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EFFECT
| $2.78 $3.13 | ▲ +12.59% | ▲ +7.26% | $2.12 (−23.74%) |
US Market Status
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