Earnings Releases·Nov 13, 2026, 4:05 PM ET

Aptera Motors — Third Quarter 2026 Earnings Summary

GAAP net loss widened to $14.0 million for Q3 2026 from $5.5 million in the prior-year quarter, driven by a doubling of R&D spending to support vehicle validation and production readiness.
Management estimates a need for $25 million to reach series production start and $65 million to achieve a 500-vehicle monthly rate, noting existing cash is insufficient to fund operations for the next twelve months.
Entered a strategic manufacturing partnership with Shanghai Launch Automotive Technology Co., Ltd. covering up to RMB 300 million in services, payable partially in warrants, while initiating parts procurement for first production vehicles.
Held $9.2 million in cash as of September 30, 2026, with substantial doubt remaining regarding the ability to continue as a going concern absent additional financing; the company intends to fund capital requirements via a November 2026 registered direct offering.
Maintained over 49,000 vehicle reservations and achieved independent validation of over 4 kWh of usable solar energy per vehicle, though the company disclosed material weaknesses in internal controls and an ongoing SEC investigation.