MELBOURNE, FL, May 7, 2024 /PRNewswire/ -- Eve Holding, Inc. ("Eve") (NYSE:EVEX) reports its First Quarter 2024 Earnings Results. Financial highlights Eve Air Mobility is an aerospace company dedicated to the development of an eVTOL (electric Vertical Takeoff and Landing) aircraft and the Urban Air Mobility (UAM) ecosystem that includes the aircraft development, Service & Operations Solutions and an Urban Air Traffic Management (Urban ATM) system. Eve is pre-revenue; we do not expect meaningful revenues, if any, during the development phase of our aircraft, and we expect financial results to be mostly related to costs associated with the program's development during this period. Eve reported a net loss of $25.3 million in 1Q24 versus $25.8 million in 1Q23.  Net loss decreased despite higher Research & Development (R&D) – costs and activities necessary to advance in the development of our suite of products and solutions for UAM, and Selling, General & Administrative (SG&A) expenses.  R&D expenses were $27.5 million in 1Q24, versus $21.5 million in 1Q23 and are primarily driven by the Master Services Agreement (MSA) with Embraer that performs several developmental activities for Eve. These efforts continue to intensify as the development of the eVTOL progresses, including the purchase of parts, assembly of our first full-scale prototype, and continued engineering, program development and testing infrastructure. SG&A, in the meantime, rose to $6.5 million in 1Q24, from $6.2 million in 1Q23, as a result primarily of an increase in Eve's headcount as well as industrialization and other costs associated with the Brazilian eVTOL site (Taubate facility). At the same time, Eve incurred lower other expenses in 1Q24 vs. 1Q23. The increase in R&D and SG&A expenses was ...