EHang Holdings Limited dropped 9.90% to $4.68 on Tuesday. The autonomous aircraft manufacturer pulled its 2026 revenue outlook following a significant quarterly sales miss.
Market snapshot: August 25, 2026, 14:48 EDT · Regular session
Q1 plus Q2 revenue totaled RMB103.6M. Reaching the former target would have required RMB496.4M in the second half, or RMB248.2M per quarter—3.19× Q2 revenue.
52-week range: $4.57–$20.20. The stock is 76.8% below the high.
Day range $4.57–$5.25
Tuesday's low matched the 52-week floor.
| Metric | Q2 2026 | Comparison |
|---|---|---|
| Revenue | RMB77.9M | +203.5% QoQ; −31.3% YoY |
| eVTOL deliveries | 36 | 4 QoQ; 52 YoY |
| Gross margin | 61.2% | 61.5% YoY |
| Operating loss | RMB131.7M | 169% of revenue |
| Cash and investments | RMB929.4M | ≈7 quarters of Q2 operating loss |
| View | Target |
|---|---|
| High | $11.10 |
| Average | $7.12 |
| BofA · Sell · Aug. 25 | $5.10 |
| Low | $4.40 |
Five ratings: 1 Buy, 2 Hold, 2 Sell.
| Stock | Snapshot | Move |
|---|---|---|
| EHang | 14:48 EDT | −9.90% |
| Archer Aviation | 13:35 EDT | −1.56% |
| Joby Aviation | 13:13 EDT | +0.97% |
The gap points to a company-specific earnings and guidance shock, not a broad eVTOL selloff.
EHang delivered 35 EH216-series aircraft and one VT35. It also sold 520 GD4.0 formation drones. Broader products diversify revenue, but passenger approvals remain the central valuation driver.
Q2 aircraft deliveries were 69.2% of the year-earlier level.
Trial operations at Guangzhou and Hefei have run for 17 months. Management now needs regulatory visibility sufficient to restore a measurable sales forecast.
Regulatory delays can push paid passenger service further out, weaken aircraft deliveries and extend cash consumption. The 61.2% gross margin does not offset an operating loss larger than revenue. Upside requires evidence that overseas sandboxes and non-passenger products can bridge the missing China approval schedule.
Sources: EHang Q2 release dated August 25, 2026; Google Finance market and analyst data captured August 25, 2026; same-session Joby and Archer snapshots captured between 13:13 and 13:35 EDT. Calculations use displayed figures and may differ because of rounding.
