EHang Holdings Limited (EH) Earnings Call Transcripts

EHang Holdings Limited's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, EHang Holdings Limited reported revenues of RMB 25.7 million, a decline from RMB 26.1 million in Q1 2025 and significantly down from RMB 177.6 million in Q4 2025. The decrease was attributed to lower eVTOL deliveries, which fell to four units from 11 units in the same quarter last year. However, management maintained its full-year revenue guidance of RMB 600 million, supported by a diversified revenue mix and ongoing global expansion efforts, particularly in Thailand and other international markets.

Reported metrics

Guidance from management

Management maintained its full-year revenue guidance of RMB 600 million, supported by ongoing global expansion and diversification of revenue streams beyond passenger eVTOL sales.

What management said

[Interpreted] My first question is on the gross profit margin. As you can see, it stayed elevated in Q1. And I also noticed that 40% of the revenue from Q1 was contributed by media business or nonhuman carrying related services. I was wondering what's the gross profit margin for this segment? And what is the market and competition outlook is like for this segment? My second question is on your overseas business. As...

[Interpreted] On the [ cheap ] gross profit margin, the gross profit margin is -- so that specifically means the proper margin of sales and performance of the slight performance of the GD 4.0. That is around 50%. And for our human caring business, that's contributing a higher and higher profit margin this year. Therefore, we are seeing the overall mix staying above 60% for the first quarter. And we also keep that as...

What analysts pressed on

Analysts expressed concerns regarding the lower eVTOL deliveries and the impact on revenue, with questions about the timeline for commercial operations and the expected contribution from overseas markets. There is also apprehension about the rising operational costs due to increased R&D expenditures.

Main topics on the call

• Regulatory Developments — EHang highlighted significant regulatory changes, stating, "the low altitude economy now has a solid legal foundation and policy anchor." This shift is expected to accelerate the industry's growth, with the CAAC establis...
• Commercial Operations Progress — Management emphasized that they are in the final stages of preparing for commercial operations, with CEO Huazhi Hu stating, "we are now working closely with the regulator to fine-tune our operational capabilities." This ...
• Revenue Diversification — The company reported that its Aerial Media business contributed approximately 40% of total revenue in Q1, reflecting a successful diversification strategy. CFO Conor Yang noted, "our revenue mix continues to diversify, b...
• Global Expansion Efforts — EHang is making steady progress in international markets, particularly in Thailand, where they are working to secure the first overseas operating license for the EH 216. Management stated, "Thailand is our first flagship...

Read the full EHang Holdings Limited transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 26 EHang Holdings Limited earnings call transcripts on record, spanning March 24, 2020 to June 9, 2026. Based on this history, EHang Holdings Limited reports quarterly. The most recent call on file is dated June 9, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

EH

Exchange

NasdaqGM

Country

US

Sector

Industrials

Industry

Aerospace and Defense

Calls on record

26

First call

March 24, 2020

Most recent

June 9, 2026

Reporting cadence

quarterly