Quarterly ResultMay 13, 2026, 04:21 PM
Aptera Motors Q1 GAAP Net Loss $10.2M; Secured $17.1M Capital
AI Summary
Aptera Motors reported a GAAP net loss of $10.2 million and an adjusted net loss of $6.2 million for the first quarter of 2026. The company strengthened its balance sheet by securing $17.1 million in new capital, ending the quarter with $17.7 million in cash and cash equivalents. Operationally, Aptera drove the first five validation vehicles off its assembly line and grew its active headcount by 54% year-over-year to 57 employees, primarily in engineering. Additionally, the company resolved the Zaptera litigation with a non-cash settlement.
Key Highlights
- Reported Q1 2026 GAAP Net Loss of $10.2 million.
- Calculated Q1 2026 Adjusted Net Loss (Non-GAAP) of $6.2 million.
- Secured $17.1 million in new capital from a public offering and warrant exercises.
- Ended Q1 2026 with $17.7 million in cash and cash equivalents.
- Drove the first five validation vehicles off the low-volume assembly line in Carlsbad.
- Grew total active headcount by approximately 54% year-over-year to 57 employees.
- Resolved Zaptera litigation with a non-cash settlement valued at $0.6 million.
- Maintained approximately 49,000 reservation holders for its first vehicle.