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SEV on Nasdaq

Aptera Motors Corp

Aptera Motors Corp is an American motor vehicles and passenger car bodies company based in Carlsbad.1 Its shares trade on Nasdaq under the symbol SEV.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSEV on Nasdaq1
  • IndustryMotor Vehicles & Passenger Car Bodies1
  • HeadquartersCarlsbad, California1
  • Incorporated inDE2
  • Business address5818 El Camino Real, Carlsbad, Ca 920082
  • Filer category, Emerging growth company2
  • Legal formCorporation

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These forward-looking statements include, without limitation, statements about the following:3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income4-$48.1M in 2025+30% since 2024
-$60.0M-$40.0M-$20.0M02024: -$37.1M-$37.1M20242025: -$48.1M-$48.1M2025+30%
Net income4-$43.9M in 2025+26% since 2024
-$60.0M-$40.0M-$20.0M02024: -$34.9M-$34.9M20242025: -$43.9M-$43.9M2025+26%
Fiscal year2023202420252026
Research and development$17.0M4$21.3M4
Selling, general and admin$20.1M4$26.8M4
Operating expenses$37.1M4$48.1M4
Operating income-$37.1M4-$48.1M4
Net income-$34.9M4-$43.9M4
Earnings per share-$1.524-$1.794
Earnings per share (diluted)-$1.524-$1.794
Shares (weighted, basic)23.0M shares424.5M shares4
Shares (weighted, diluted)23.0M shares424.5M shares4

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Corporate structure

Aptera Motors Corp sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Aptera Motors Corp

  • Aptera Motors Corp Carlsbad, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Aptera Motors Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$19.5M4 Dec 31, 2025$18.0M4 Dec 31, 2024+8.0%
Accumulated depreciation$1.7M4 Dec 31, 2025$1.2M4 Dec 31, 2024+49.2%
Property and equipment, net$17.8M4 Dec 31, 2025$16.9M4 Dec 31, 2024+5.1%
Operating-lease assets (leased space)$1.2M4 Dec 31, 2025$2.1M4 Dec 31, 2024−41.7%

Real estate and locations

ItemLatestA year beforeChange
Area of land77,000 sq ft4 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$9.6M4 Dec 31, 2025$13.2M4 Dec 31, 2024−27.0%

Properties, in its own words

Our principal executive offices and primary operational facility are located at 5818 El Camino Real, Carlsbad, California 92008. This facility consists of approximately 77,000 square feet of leased space. The current lease agreement for this facility, as amended in March 2026, expires on March 31, 2028.

This Carlsbad facility currently houses our corporate headquarters, research and development activities, engineering operations, and vehicle prototyping and validation activities. We believe this facility is currently adequate for these ongoing purposes.

The rest of Item 2

A significant portion of this facility is also designated for our planned initial low-volume manufacturing and assembly of the Aptera vehicle. We are in the process of preparing this area with the intention of accommodating initial production runs. We believe this space, once fully equipped and operational, will be suitable for commencing low-volume production and meeting our initial market demand.

As we scale our production to meet broader market demand and our longer-term production targets, we anticipate that we will require additional manufacturing capacity, which may involve expanding our current facility if feasible, or securing or constructing additional manufacturing facilities in the future. Our ability to secure or develop such additional facilities will depend on various factors, including our success in raising future capital.

We do not own any real property.

Item 2 of the 10-K filed Mar 30, 2026.3

Leadership

Who has led Aptera Motors Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher Lee Anthony2025
  2. Steve Fambro2025–now

Chief financial officer

  1. Thomas James Dapolito2025–now
Board members and other officers (5)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerSARAH SUN-BURLINGAME named Oct 3, 202213
  • DirectorBRIAN SNOW named Oct 3, 202213
  • DirectorDOUG LUI named Oct 3, 202213

Timeline

  1. Oct 1, 20268-K Regulation FD disclosure; Other events14
  2. Aug 20, 20268-K Regulation FD disclosure15
  3. Aug 20, 20268-K Entered a material agreement; Unregistered sale of shares16
  4. Aug 14, 20268-K Executive or director change17
  5. Aug 12, 20268-K Results of operations; Regulation FD disclosure18
  6. Jul 13, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure19
  7. Jul 7, 20268-K Regulation FD disclosure; Other events20
  8. May 13, 20268-K Results of operations; Regulation FD disclosure21
  9. May 12, 20268-K Regulation FD disclosure22
  10. Apr 14, 20268-K Unregistered sale of shares; Regulation FD disclosure; Other events23
  11. Mar 30, 20268-K Results of operations; Regulation FD disclosure24
  12. Mar 12, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure25
  13. Oct 24, 2025New chief executive Steve Fambro becomes CEO8
  14. Sep 30, 2025New chief executive Christopher Lee Anthony becomes CEO7

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.23) a share, on Nov 14, 2025.26

When it reported results

  1. Aug 12, 2026Reported quarterly or annual results18
  2. May 13, 2026Reported quarterly or annual results21
  3. Mar 30, 2026Reported quarterly or annual results24
  4. Nov 17, 2025Reported quarterly or annual results27

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

200 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 24 major events, 26 insider forms, 1 large holders, 6 private raises, 139 other. The latest 20:

  1. Oct 9, 2026EFFECT EDGAR
  2. Oct 1, 2026S-3 EDGAR
  3. Oct 1, 20268-K EDGAR
  4. Aug 20, 2026EFFECT EDGAR
  5. Aug 20, 20268-K EDGAR
  6. Aug 20, 2026424B4 EDGAR
  7. Aug 20, 20264 EDGAR
  8. Aug 20, 20268-K EDGAR
  9. Aug 18, 2026S-1/A EDGAR
  10. Aug 14, 20268-K EDGAR
  11. Aug 13, 20264 EDGAR
  12. Aug 13, 20263 EDGAR
  13. Aug 12, 20268-K EDGAR
  14. Aug 12, 202610-Q EDGAR
  15. Aug 7, 2026144 EDGAR
  16. Aug 7, 2026144 EDGAR
  17. Aug 7, 2026S-1 EDGAR
  18. Aug 4, 2026144 EDGAR
  19. Aug 4, 2026144 EDGAR
  20. Aug 3, 2026144 EDGAR

The 200 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 0 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 17, 2026Johnson Michael Edious10% ownerSale48,500$3.09$149.9KForm 4
Jan 28, 2026Johnson Michael Edious10% ownerSale38,000$1.41$53.6KForm 4
Jan 6, 2026Johnson Michael Edious10% ownerSale11,500$4.59$52.8KForm 4
Jan 5, 2026Johnson Michael Edious10% ownerSale10,500$4.60$48.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.5M 2022–2024
Money received by yearMoney received by year, 2022–2024: $1.5M in all. Private raises (Form D) $1.5M.$0$200K$400K$600K$800K2022 · Private raises (Form D): $709.1K20222023 · Private raises (Form D): $79.3K20232024 · Private raises (Form D): $733.9K2024
Figures by year
YearPrivate raises (Form D)Total
2024$733.9K$733.9K
2023$79.3K$79.3K
2022$709.1K$709.1K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Nov 28, 2024Raised $200,000 in a private offering of equity29 Form D: $20 million offered in all Form D
  2. Aug 23, 2024Raised $200,000 in a private offering of debt30 Form D: $60 million offered in all Form D
  3. Aug 23, 2024Raised $200,000 in a private offering of debt31 Form D: $60 million offered in all Form D
  4. Jun 6, 2024Raised $133,875 in a private offering of equity32 Form D: $20 million offered in all Form D
  5. Jun 20, 2023Raised $79,275 in a private offering of equity33 Form D: $20 million offered in all Form D
  6. Aug 25, 2022Raised $709,127 in a private offering of equity13 Form D: $2 million offered in all Form D

SEC filer profile

How Aptera Motors Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAptera Motors Corp1
  • CIK0001786471
  • Employer ID (EIN)83-40795943
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3711 Motor Vehicles & Passenger Car Bodies1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address5818 El Camino Real, Carlsbad, CA 920081
  • Phone858-371-31511
  • Shares outstanding28,560,115 as of Aug 6, 20266
  • Public float$0 as of Jun 30, 20254
  • Auditordbbmckennon, San Diego, California PCAOB ID 3501; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceAug 28, 20191
  • Filings217 in all: 8-K (24), CORRESP (22), 253G2 (20), 4 (16), UPLOAD (13), 144 (10), 1-A POS (9), 3 (8)1
    All 38 form types

    EFFECT (8), S-1/A (7), C-AR (6), D (6), 1-A/A (5), 1-SA (5), 1-U (5), QUALIF (5), S-1 (5), 1-K (4), 424B4 (4), DRS/A (4), 10-Q (3), 424B3 (3), C (3), POS AM (3), 1-A (2), 1-SA/A (2), 4/A (2), DRS (2), DRSLTR (2), 10-K (1), 8-A12B (1), C-AR/A (1), C-U (1), C/A (1), CERT (1), S-3 (1), S-8 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Class B Common Stock, par value $0.0001 per shareSEVNasdaq

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Aptera Motors Corp names in Item 1A of its 10-K filed Mar 30, 2026: 50 risks under these headings, as written.3

  • Risk Related to Our Business
  • We have a limited operating history upon which you can evaluate our performance, and have not yet generated any profits. Accordingly, our prospects must be considered in light of the risks that any new company encounters.
  • Our auditor has issued a “going concern” opinion.
  • The Company plans to raise significantly more capital and future fundraising rounds, which may include offering equity at a significant discount to the price offered in this offering, which could result in dilution to investors in this offering.
  • We will require additional capital to support business growth, and this capital might not be available on commercially reasonable terms, or at all.
  • We anticipate that we will initially depend on revenue generated from a single vehicle model and in the foreseeable future will be significantly dependent on a limited number of models.
  • Tariffs and related trade barriers could materially adversely affect our business, results of operations and financial condition.
  • We have not yet commenced production of our vehicles and have limited experience in high volume manufacture of our vehicles.
  • If our vehicles fail to perform as expected, our ability to develop, market and sell or lease our products could be harmed.
  • Vehicle reservations may not result in actual sales, and because all reservations are fully refundable, our forecasted revenues and cash flows could be adversely affected.
  • The Company operates in a capital-intensive industry.
  • We may incur indebtedness in the future which could reduce our financial flexibility and adversely impact our operations and our costs.
The other 39 risks
  • Aptera operates in a highly competitive market.
  • We face significant technological and legal barriers to entry.
  • Our success is dependent upon consumers’ willingness to adopt energy-efficient, solar-powered vehicles.
  • Developments and improvements in alternative technologies such as hybrid engine or full electric vehicles, or in the internal combustion engine, or continued low retail gasoline prices may materially and adversely affect the demand for our energy-efficient, solar-powered vehicles.
  • Our vehicles face several regulatory hurdles.
  • Passenger vehicles, like those produced by the Company, are highly regulated and are subject to regulatory changes.
  • Demand in the passenger vehicle industry is highly volatile.
  • We may be affected by uncertainty over government purchase incentives.
  • We may become subject to product liability claims, which could harm our financial condition and liquidity if we are not able to successfully defend or insure against such claims.
  • Limited intellectual property protection may cause us to lose our competitive advantage and adversely affect our business.
  • There is currently pending litigation against the Company.
  • The Company is aware that it is the subject of an investigation from the Securities and Exchange Commission.
  • Our failure to obtain or maintain the right to use certain intellectual property may negatively affect our business.
  • The Company’s insurance may not be sufficient.
  • Aptera depends on a small management team and may need to hire more people to be successful.
  • The Company relies on outside parties to provide technological and manufacturing expertise.
  • A global economic recession, government closures of banks and liquidity concerns at other financial institutions, or other downturn may have a material adverse impact on our business, prospects, results of operations and financial condition.
  • Risks Related to Our Existence as Public Benefit Corporation
  • Our status as a public benefit corporation may not result in the benefits that we anticipate.
  • As a public benefit corporation, our duty to balance a variety of interests may result in actions that do not maximize stockholder value.
  • Our directors have a fiduciary duty to consider not only our stockholders’ pecuniary interests, but also our specific public benefit and the best interests of stakeholders materially affected by our actions. If a conflict between such interests arises, there is no guarantee such a conflict would be resolved in favor of our stockholders.
  • As a public benefit corporation, we may be subject to increased derivative litigation concerning our duty to balance stockholder and public benefit interests, the occurrence of which may have an adverse impact on our financial condition and results of operations.
  • Risks Related to Ownership of our Class B Common Stock
  • We do not intend to pay dividends on our capital stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our Class B common stock.
  • The Class B common stock has no voting rights.
  • The dual class structure of our common stock has the effect of concentrating voting control with those stockholders who held our capital stock prior to our listing, including our directors, executive officers, and 5% stockholders who hold in the aggregate 83% of the voting power of our capital stock following the registration and listing of our Class B common stock on Nasdaq, which will limit or preclude your ability to influence corporate matters, including the election of directors and the approval of any change of control transaction.
  • Our Amended Charter contains exclusive forum provisions for certain claims, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Delaware law and provisions in our Amended Charter and Bylaws could make a merger, tender offer, or proxy contest difficult or more expensive, thereby negatively impacting the trading price of our Class B common stock.
  • The uncertainty associated with the fact that few companies have undertaken direct listings to date may lead to increased volatility and pricing challenges for our Class B common stock.
  • Market volatility may affect the value of an investment in our Class B common stock and could subject us to litigation.
  • None of our stockholders are party to any contractual lock-up agreement or other contractual restrictions on transfer. Sales of substantial amounts of our Class B common stock in the public markets, or the perception that sales might occur, could cause the trading price of our Class B common stock to decline.
  • The dual class structure of our common stock may adversely affect the trading market for our Class B common stock.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, the price of our Class B common stock and trading volume could decline.
  • We are an “emerging growth company” and intend to take advantage of the reduced disclosure requirements applicable to emerging growth companies which may make our Class B common stock less attractive to investors.
  • Risks Related to Being a Public Company
  • The requirements of being a public company, including maintaining adequate internal control over our financial and management systems, may strain our resources, divert management’s attention, and affect our ability to attract and retain executive management and qualified board members.
  • Management identified certain material weaknesses relating to stock-based compensation accounting and a lack of formalized accounting and financial reporting policies and procedures, resulting in the Company not maintaining effective internal controls over financial reporting as of the years ended December 31, 2025 and 2024
  • We have previously restated our financial statements and may be required to restate our financial statements in the future, which could materially and adversely affect our business, financial condition, results of operations and the trading price of our securities.
  • Our management team has limited experience managing a public company.
  • Our reported financial results may be adversely affected by changes in accounting principles generally accepted in the United States.
  • If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our operating results could be adversely affected.
  • We are not currently in compliance with Nasdaq’s requirements for a majority-independent board and an audit committee composed of three independent directors, which could create additional risks until we achieve compliance.

Legal proceedings

In August 2024, Zaptera USA, Inc. (“Zaptera”) filed a complaint against Aptera Motors Corp. in U.S. District Court for the Southern District of California. Following amendments and motions to dismiss, Zaptera presently asserts claims against Aptera Motors Corp. and certain associated individuals for design patent infringement, misappropriation of trade secrets, and declaratory judgment of patent ownership. It also asserts breach of contract claims against the individuals, but not the Company itself. Zaptera seeks various remedies, including damages and injunctive relief.

On October 10, 2025, Aptera Motors Corp. and the individual defendants filed their answers and affirmative defenses to Zaptera’s amended complaint. Aptera Motors Corp. intends to vigorously defend this litigation and continues to believe the claims are without merit. However, litigation is inherently uncertain, and an unfavorable outcome could materially harm our business.

In January 2025, we received a subpoena for documents from the staff of the SEC related to our securities offerings and the production, design, and manufacture of our vehicles (the “SEC Investigation”). This subpoena is part of the ongoing SEC Investigation. We are cooperating fully with the investigation and are producing documents in response to the subpoena.

The SEC has informed us that the investigation does not mean that it has concluded that anyone has violated the law and that the receipt of the subpoena does not mean that the SEC has a negative opinion of any person, entity, or security. However, we cannot provide any assurances as to the outcome of this investigation or its potential effect, if any, on our Company.

The opening of Item 3, Legal Proceedings.3

Sources

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