Added to YB: 2026-08-25
Pitch date: 2026-08-21
AEVA [bearish]
Aeva Technologies, Inc.
+7.11%
current return
Author Info
Fugazi Research exposes inflated valuations built on illusion — not substance. We dissect the narratives, trace the incentives, and reveal who’s really cashing in. In a market full of noise, we show what’s real behind the fugazi. Sign up for the newsletter.
Company Info
Aeva Technologies, Inc. engages in the design, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, Oceania, and Asia.
Market Cap
$1.3B
Pitch Price
$17.72
Price Target
N/A
Dividend
N/A
EV/EBITDA
-9.70
P/E
-34.65
EV/Sales
55.53
Sector
Electronic Equipment, Instruments and Components
Category
value
AEVA: Ridiculous Valuation for a Bleeding Startup Masquerading as AI
AEVA (short): Fugazi shorts lidar startup at ~72x FY25 sales ($18.1M rev, $1.3B cap), 48x book. Net loss $145M FY25, $447M 3yr cumulative; $9.24 lost per $1 rev in H1'26. Equity-funded survival via dilution (+10.7% shares in 5mo), Sylebra facility, convertibles. Serial partnership pumps (NVIDIA, defense, now AI datacenter optics w/ 2028 ramp, no committed volume). FMCW bet rejected by Tesla & Mobileye. 59-72% customer concentration. Insiders sold ~$11.9M into Aug'26 spike. 2021 despac survivor post reverse split. Uninvestable above zero.
Read full article (14 min)