Eve Holding, Inc. Fair Value Disclosure
Note 11– Fair Value Measurements
The Company uses a fair value hierarchy, which has three levels based on the reliability of the inputs, to determine fair value. The Company’s assessment of the significance of an input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. Level 1 refers to fair values determined based on unadjusted quoted prices in active markets for identical instruments. Level 2 refers to fair values estimated using other observable inputs for the instruments, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 includes fair values estimated using unobservable inputs for the instruments used to measure fair value to the extent that observable inputs are not available. The carrying amounts of cash and cash equivalents, financial investments, related party receivables, other current assets, accounts payable, related party payables, and other current payables approximate their fair values due to the short-term maturities of the instruments.
The fair value of debt was estimated using a discounted cash flow model and other observable inputs, therefore, are Level 2. Refer to Note 10 for the methodology for determining the fair value of .
During the year ended December 31, 2025 and 2024, there were no changes in the fair value methodology and no transfers between levels of the financial instruments.
The following table lists the Company’s financial liabilities by level within the fair value hierarchy.
| December 31, 2025 |
| December 31, 2024 | ||||||||||||||||||||
|
| Carrying |
| Fair Value |
|
| Carrying |
| Fair Value | ||||||||||||||
|
| Amount |
|
| Level 1 |
|
| Level 2 |
|
| Level 3 |
|
| Amount |
|
| Level 1 |
|
| Level 2 |
|
| Level 3 |
Private Warrants | $ | 4,588 |
| $ | - |
| $ | 4,588 |
| $ | - |
| $ | 6,983 |
| $ | - |
| $ | 6,983 |
| $ | - |
Debt | $ | 179,786 |
| $ | - |
| $ | 184,139 |
| $ | - |
| $ | 132,011 |
| $ | - |
| $ | 132,488 |
| $ | - |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 23, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Mar 31, 2021 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.