EHang Holdings (EH) Financial Statements & Analysis

EHang Holdings (EH) Income Statement

EHang Holdings reported revenue of CNY 417.98M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 8.4% from CNY 456.15M a year earlier. EHang Holdings posted a net loss of CNY 275.98M, compared with a net loss of CNY 229.78M a year earlier. Gross margin was 61.5% and operating margin -75.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 77.67M, down 47.2% from the same quarter a year earlier.

EHang Holdings Income Statement Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

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EHang Holdings Limited income statement - Annual data in millions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Mar 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	417.98	456.15	117.43	44.32	56.81	180.09	180.09	121.81	66.49	31.70
Cost of Revenue	160.83	176.21	42.12	15.10	20.78	73.91	73.91	50.60	32.74	27.51
Gross Profit	257.15	279.95	75.31	29.22	36.03	106.18	106.18	71.22	33.75	4.18
Operating Expenses
Research & Development	194.58	199.47	167.32	135.08	137.15	105.25	105.25	57.17	60.28	68.67
Selling, General & Administrative	391.67	364.43	210.48	204.18	230.62	98.80	98.80	63.80	56.11	65.74
Operating Expenses	573.87	534.02	371.56	333.17	356.57	197.48	197.48	117.56	108.10	130.10
Operating Income	-316.71	-254.08	-296.25	-303.95	-320.54	-91.30	-91.30	-46.35	-74.35	-125.92
Other Income/Expense
Interest Income	58.59	30.60	8.48	4.67	5.14	3.80	3.80	0.88	1.06	0.17
Interest Expense	5.98	3.38	-14.95	3.82	1.80	2.34	-2.34	0.84	0.56	0.00
Other Income/Expense	-11.47	24.43	-4.32	-26.35	3.71	-0.54	-1.44	-0.90	-6.04	44.53
Income
Income Before Tax	-275.57	-229.65	-302.14	-329.45	-313.49	-91.84	-91.84	-47.24	-80.39	-81.39
Income Tax Expense	-4.41	0.39	0.21	0.08	0.13	0.21	0.21	0.75	0.08	5.18
Net Income	-275.98	-229.78	-301.70	-328.22	-313.96	-87.62	-87.62	-48.55	-79.11	-87.43
Net Income - Continuous Operations	-276.41	-229.78	-302.34	-329.33	-313.90	-87.62	-	-48.55	-79.11	-87.43
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	-239.60	-202.12	-283.02	-304.74	-303.91	-83.54	-85.10	-40.66	-74.06	-76.95
EBIT	-269.60	-221.92	-296.25	-325.63	-311.68	-	-91.30	-	-	-
Depreciation & Amortization	29.99	19.80	13.23	20.89	7.77	6.19	6.19	5.67	5.60	4.44
Earnings Per Share
Basic EPS	-3.00	-7.00	-5.00	-6.00	-6.00	-2.00	-2.00	-1.00	-1.00	-2.00
Diluted EPS	-3.00	-7.00	-5.00	-6.00	-6.00	-2.00	-2.00	-1.00	-1.00	-2.00
Basic Shares Outstanding	73.33	33.59	60.75	57.35	56.49	54.78	54.78	54.73	53.52	53.52
Diluted Shares Outstanding	73.33	33.59	60.75	57.35	56.49	54.78	54.78	54.73	53.52	53.52

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About EHang Holdings Financial Statements

What was EHang Holdings's revenue in fiscal 2025?

EHang Holdings reported revenue of CNY 417.98M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 8.4% from CNY 456.15M a year earlier.

Is EHang Holdings profitable?

No. EHang Holdings reported a net loss of CNY 275.98M in fiscal 2025. In fiscal 2024 it lost CNY 229.78M.

What is EHang Holdings's operating margin?

EHang Holdings's operating income was −CNY 316.71M on revenue of CNY 417.98M in fiscal 2025, an operating margin of -75.8%, compared with -55.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition