EHang Holdings Limited (NASDAQ:EH) shares are trading higher premarket on Tuesday. The company reported preliminary revenues for the fourth quarter and fiscal year 2024.

For the fourth quarter, the company expects revenues of RMB162 million (up 187% year over year), compared to the prior guidance of around RMB135 million.

For FY24, EHang projects revenues of RMB454 million (up 287% year over year) compared to the prior outlook of RMB427 million.

In USD, revenue is projected to be around $22.19 million (consensus $18.729 million) in the fourth quarter and about $62.20 million (consensus $58.545 million) in FY24.

This performance reflects greater-than-anticipated demand for the EH216-S pilotless aerial vehicles, significant operational milestones, and momentum in the company's business growth.

In November, EHang reported third-quarter revenue of $18.258 million, beating the consensus of $16.243 million and adjusted EPS loss of $(0.10), exceeding the street view of $(0.12).

Last week, the company signed a project cooperation agreement with the Management Committee of the Torch High-Tech Industrial Development Zone in Weihai City, Shandong Province.

The partnership aims to advance industry collaboration on pilotless eVTOLs, supporting the rapid growth of China’s low-altitude economy.

Price Action: EH shares are up 5.08% at $16.45 premarket at the last check Tuesday.

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This article eVTOL Company EHang Shares Climb: Revenue Projections Beat Consensus As EH216-S Demand Soars originally appeared on Benzinga.com

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