EHang Commercial Flights Imminent After Profit
Q4 deliveries hit 100 units as company moves toward ticketed services in China.
EHang reported its first quarter of GAAP profitability in the final three months of 2025, driven by record aircraft deliveries, according to unaudited financial results published on March 12.
The company posted a net income of RMB10.5 million (US$1.5 million) for the fourth quarter, compared to a net loss of RMB46.9 million in the same period a year earlier.
The turnaround coincides with a 48.4% year-over-year increase in revenue, which reached RMB243.8 million (US$34.9 million).
Deliveries of itseVTOL aircraft hit 100 units during the quarter, up from 78 units in Q4 2024. The majority of these were EH216-series aircraft, with five units of its newer VT35 model also delivered.
For the full fiscal year 2025, total revenues rose 11.7% to RMB509.5 million (US$72.9 million), with annual deliveries reaching a record 221 units.
The company maintained a non-GAAP profitability for the second consecutive year, posting an adjusted net income of RMB29.4 million (US$4.2 million), though this was down from RMB43.1 million in 2024.
Commercial Launch Imminent
The company stated that it expects to officially commence commercial flight operations for its EH216-S pilotless eVTOL in China this month.
According to the announcement, the first two operators with Air Operator Certificates—EHang General Aviation and Heyi Aviation—are planning to launch ticketed aerial sightseeing services at the company’s headquarters in Guangzhou and at Luogang Park in Hefei.
The flights follow months of internal trial operations.
According to the manufacturer, the Civil Aviation Administration of China (CAAC) has acknowledged the safety records of these trials and is working with EHang to establish a training framework for ground crew specializing in pilotless passenger aircraft.
Operational Milestones + Expansion
In December 2025, an EH216-S aircraft completed a 22-kilometer (13.7-mile) flight across the Qiongzhou Strait, connecting Hainan Province and Guangdong Province. The 18-minute trip used a high-energy solid-state battery developed with partner Shenzhen Inx Technology Co., Ltd.
The company noted the route’s potential applications in inter-provincial transport and emergency response.
EHang is also progressing with its longer-range VT35 model, which completed public demonstration flights in Hefei late last year. The aircraft is currently undergoing type certification with the CAAC.
Internationally, the company is moving forward with plans to obtain its first overseas commercial operation license in Thailand, following validation flights conducted in coordination with the Civil Aviation Authority of Thailand (CAAT).
Additional test flights have also been carried out in Qatar and Japan over the past five months.
Financial Position + Outlook
As of December 31, 2025, the company held RMB1.13 billion (US$161.5 million) in cash and cash equivalents, restricted short-term deposits, and short-term investments.
Looking ahead, EHang projects total revenues of approximately RMB600 million for the fiscal year 2026, which would represent an increase of about 18% compared to 2025.
The company cautioned that this outlook is based on current market conditions and is subject to change.
For the full report, see: EHang Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results.