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Eve Holding, Inc.

For the period ended Dec 31, 2025. Filed Mar 16, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 16, 2026

EVEX$1.85+17.8%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2025

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 001-39704

(Exact name of registrant as specified in its charter)

Delaware85-2549808
(State or other jurisdiction of incorporation or organization)(I.R.S. EmployerIdentification No.)
1400 General Aviation DriveMelbourne, FL 32935
(Address of Principal Executive Offices, including zip code)

(321) 751-5050

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per share Warrants, each whole warrant exercisable for one share of Common StockEVEXEVEXWThe New York Stock ExchangeThe New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No ☒

The aggregate market value of the registrant’s common stock outstanding, other than shares held by persons who may be deemed affiliates of the registrant, computed as of June 30, 2025 (the last business day of the registrant’s most recently completed second fiscal quarter), was approximately $353.2 million.

As of March 16, 2026, there were 348,304,584 shares of common stock, par value of $0.001 per share, issued and outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

The information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the annual meeting of stockholders to be held in 2026, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.

Page
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS4
PART I5
Item 1. Business5
Item 1A. Risk Factors16
Item 1B. Unresolved Staff Comments51
Item 1C. Cybersecurity52
Item 2. Properties53
Item 3. Legal Proceedings53
Item 4. Mine Safety Disclosures53
PART II54
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities54
Item 6. [Reserved]54
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations55
Item 7A. Quantitative and Qualitative Disclosures About Market Risk63
Item 8. Financial Statements and Supplementary Data64
Report of Independent Registered Public Accounting Firm (KPMG LLP, Miami, FL, Auditor Firm ID: 185)65
Consolidated Balance Sheets67
Consolidated Statements of Operations68
Consolidated Statements of Comprehensive Loss68
Consolidated Statements of Equity69
Consolidated Statements of Cash Flows70
Notes to Consolidated Financial Statements71
Note 1 – Organization and Nature of Business71
Note 2 – Significant Accounting Policies71
Note 3 – Cash and Cash Equivalents74
Note 4 – Financial Investments74
Note 5 – Related Party Transactions75
Note 6 – Other Balance Sheet Components76
Note 7 – Debt77
Note 8 – Equity80
Note 9 – Common Stock Warrants81
Note 10 – Derivative Financial Instruments83
Note 11 – Fair Value Measurements83
Note 12 – Share-Based Compensation84
Note 13 – Earnings Per Share86
Note 14 – Research and Development Expenses87
Note 15 – Selling, General and Administrative Expenses87
Note 16 – Income Taxes88
Note 17 – Leases91
Note 18 – Commitments ​and Contingencies92
Note 19 – Segments93
Note 20 – Subsequent Events94
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure95
Item 9A. Controls and Procedures95
Item 9B. Other Information96
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection96
PART III97
Item 10. Directors, Executive Officers and Corporate Governance97
Item 11. Executive Compensation97
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters97
Item 13. Certain Relationships and Related Transactions, and Director Independence97
Item 14. Principal Accountant Fees and Services97
PART IV98
Item 15. Exhibits, Financial Statement Schedules98
Signatures103
ContentsView on SEC.gov

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