Aptera Motors Corp. filed its quarterly report on Form 10-Q with the SEC on November 13, 2026, covering the fiscal quarter ended September 30, 2026, disclosing a net loss of $13,968 thousand for the three months ended September 30, 2026, and $35,046 thousand for the nine months ended September 30, 2026.

Key Highlights

  • No revenue: The company reported $0 in revenues for both the three and nine months ended September 30, 2026, and September 30, 2025, according to the filing.
  • Q3 net loss: Net loss for the three months ended September 30, 2026 was $13,968 thousand, compared to $5,489 thousand for the same period in 2025.
  • Nine-month net loss: Net loss for the nine months ended September 30, 2026 was $35,046 thousand, versus $28,427 thousand for the nine months ended September 30, 2025.
  • R&D spending accelerated: Research and development expenses for the nine months ended September 30, 2026 were $22,524 thousand, compared to $13,812 thousand for the same period in 2025.
  • Cash position: Cash and cash equivalents stood at $9,174 thousand as of September 30, 2026, down from $9,608 thousand as of December 31, 2025.
  • Share count increased: Class B Common Stock shares issued and outstanding grew to 28,959,488 as of September 30, 2026, from 15,718,440 as of December 31, 2025.
  • Accumulated deficit: The accumulated deficit reached $353,734 thousand as of September 30, 2026, compared to $318,688 thousand as of December 31, 2025.

Aptera Motors Q3 2026: Operating Losses Widen as R&D Costs Rise

According to the filing, Aptera Motors Corp. (NASDAQ:SEV) generated no revenue during either the three or nine months ended September 30, 2026. Total operating expenses for the third quarter reached $13,650 thousand, more than double the $7,942 thousand reported for the same quarter in 2025. Research and development expenses were the primary driver of this increase, rising to $9,529 thousand for the three months ended September 30, 2026, from $4,729 thousand in the comparable prior-year period. General, selling, and administrative expenses also increased, totaling $4,121 thousand for Q3 2026 versus $3,213 thousand for Q3 2025.

For the nine-month period, the filing reported total operating expenses of $35,146 thousand, compared to $33,009 thousand for the nine months ended September 30, 2025. Other income (expense) shifted to income of $100 thousand for the nine months ended September 30, 2026, down from $4,582 thousand in the prior-year period. The weighted average loss per share of Class A and Class B common stock, basic and diluted, was $(0.35) for the three months ended September 30, 2026, and $(0.96) for the nine months ended September 30, 2026, based on weighted average shares outstanding of 40,238,995 and 36,439,109, respectively.

The balance sheet as of September 30, 2026 reflected total assets of $32,353 thousand and total liabilities of $11,490 thousand, yielding total stockholders' equity of $20,509 thousand. The company disclosed $354 thousand in temporary equity as of September 30, 2026, compared to $0 as of December 31, 2025. The filing also noted that as of November 12, 2026, there were 33,110,940 shares of Class B Common Stock, $0.0001 par value, issued and outstanding. Unearned reservation fees stood at $4,121 thousand as of September 30, 2026. During the nine months ended September 30, 2026, the company issued common stock and warrants, net of issuance costs, that resulted in proceeds reflected in the equity statements.

What Was Disclosed

Aptera Motors Corp. disclosed its unaudited condensed consolidated financial results for the quarter and nine months ended September 30, 2026, reporting zero revenues, rising operating losses driven by increased R&D spending, and an accumulated deficit of $353,734 thousand as of September 30, 2026.