Eve Holding, Inc. Segments Disclosure
Segment information is presented in a manner consistent with the internal reports provided to the chief operating decision maker (“CODM”), which has been identified as the chief executive officer. Given the Company’s pre-revenue operating stage, it currently has no concentration exposure to products, services or customers. The Company is developing three business units that will provide unique products or services, which were determined to be the reportable segments, as follows:
eVTOL The Company is designing and certifying an eVTOL purpose-built for UAM missions and plans to market its eVTOLs globally to operators of UAM services, including fixed wing and helicopter operators, as well as lessors that purchase and manage aircraft on behalf of operators.
Service and Operations Solutions The Company plans to offer a full suite of eVTOL service and support capabilities (named “TechCare”), including material services, maintenance, technical support, training, ground handling and data services. Its services will be offered to UAM fleet operators on an agnostic basis, supporting both its own eVTOL and those produced by third parties.
Urban Air Traffic Management (“UATM”) The Company is developing next-generation UATM software (named “Vector”) to help enable eVTOLs to operate safely and efficiently in dense urban airspace along with conventional fixed wing and rotary aircraft and unmanned drones. The Company plans to offer Vector software to customers that include air navigation service providers, fleet operators and vertiport operators.
The CODM regularly receives and reviews one measure of profit or loss by segment, which is also the sole significant expense for each segment – research and development expenses. This expense information and the physical progress of the projects by segment are used by the CODM when deciding how to allocate resources between segments. Asset information by segment is not presented to the CODM.
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|
| Year Ended December 31, |
| ||||||||
Research and development expenses by segment |
|
| 2025 |
|
|
| 2024 |
|
|
| 2023 |
|
eVTOL |
| $ | 184,890 |
|
| $ | 118,770 |
|
| $ | 95,616 |
|
Service and Operations Solutions |
|
| 6,584 |
|
|
| 5,885 |
|
|
| 5,248 |
|
UATM |
|
| 3,221 |
|
|
| 5,189 |
|
|
| 4,717 |
|
Total segment expenses |
|
| 194,695 |
|
|
| 129,844 |
|
|
| 105,581 |
|
Total segment loss |
|
| (194,695) |
|
|
| (129,844) |
|
|
| (105,581) |
|
Expenses not allocated to segments, net (a) |
|
| 28,553 |
|
|
| 7,817 |
|
|
| 20,509 |
|
Loss before income taxes |
| $ | (223,248) |
|
| $ | (137,661) |
|
| $ | (126,091) |
|
(a) Includes SG&A expenses, new warrant expenses, and other non-operating income and expenses not allocated to each segment.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 23, 2023 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.