Announcement • Mar 13
Nasdaq to Delist the Class A Ordinary Shares, Warrant of Lilium NV Nasdaq announced that it will delist the Class A ordinary shares, warrant of Lilium NV. Lilium N.V.’s stock was suspended on November 06, 2024 and has not traded on Nasdaq since that time. New Risk • Feb 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (92% average weekly change). Negative equity (-€30m). Earnings are forecast to decline by an average of 38% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€540m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$99.0m market cap). Announcement • Dec 26
Mobile Uplift Corporation GmbH signed an asset purchase agreement to acquire Operating assets of Lilium GmbH and Lilium eAircraft GmbH from Lilium N.V. (OTCPK:LILM.F). Mobile Uplift Corporation GmbH signed an asset purchase agreement to acquire Operating assets of Lilium GmbH and Lilium eAircraft GmbH from Lilium N.V. (OTCPK:LILM.F) on December 24, 2024. Subject to the satisfaction of certain conditions precedent, Lilium expects that the agreement positions the Subsidiaries to obtain sufficient funding to restart their business operations. Proceeds received from the sale will be utilized according to German Insolvency Law, with no amounts being distributed to Lilium N.V. On December 20, 2024, the Subsidiaries terminated the contracts of their remaining employees in accordance with German law, which employees the Mobile Uplift Corporation GmbH intends to employ immediately after opening of the proceedings and closing of the transaction.
Deal closing is currently expected for early January 2025 and is subject to the satisfaction of certain customary conditions precedent, including opening of the proceedings and consent of the creditors committee. New Risk • Dec 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 38% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (43% average weekly change). Negative equity (-€30m). Earnings are forecast to decline by an average of 38% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€540m net loss in 2 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (US$84.2m market cap). Board Change • Nov 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Chairman of the Board Tom Enders was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 06
Lilium N.V.(OTCPK:LILM.F) dropped from NASDAQ Composite Index Lilium GmbH has been dropped from the NASDAQ Composite Index. New Risk • Oct 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$94.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-€30m). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€194m net loss in 3 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (US$94.0m market cap). New Risk • Oct 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€30m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€30m). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€145m net loss in 3 years). Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Oct 01
Lilium Powers On First Lilium Jet in Significant Milestone Towards First Flight Lilium N.V. completed the first systems power-on milestone of its revolutionary all-electric Lilium Jet. The successful test procedure on the first in-production Lilium Jet, MSN 1, represents a significant achievement on the path to first flight and certification. This test confirms that the aircraft is being built in accordance with Lilium’s platform design and the flight systems are functioning correctly. At power-on, high-voltage (900 Volts) is applied to the aircraft and converted to supply the low-voltage electrical and avionics systems – including cockpit display, flight controls, communication, navigation, and surveillance systems. This milestone corresponds to the customary power-on acceptance test procedure used in conventional commercial aircraft manufacturing. MSN 1 is due to become Lilium’s lab test aircraft, or “ironbird”. It will be a fully functional aircraft and key asset for the certification program, being used to prove safety of flight and compliance with airworthiness requirements. The second Lilium Jet, MSN 2, also currently in final assembly, is the first aircraft that Lilium intends to fly with a pilot on board in early 2025. Production of MSN 3 fuselage is underway at the supplier. Lilium intends to fly a total of six test aircraft up to type-certification and entry into service, targeted for 2026. In August this year, Lilium successfully completed the first phase of electrical integration testing at the company’s dedicated electrical power system lab (EPSL), a test rig that replicates the Lilium Jet’s full powertrain, from battery pack to engine, outside the aircraft in a controlled test environment. Lilium has so far successfully tested several core electrical functionalities at the EPSL, including high voltage distribution, low voltage conversion and distribution, health reporting, and charging systems. Announcement • Aug 21
Lilium Starts Integration Testing of Lilium Jet Electrical Power System Lilium has successfully completed the first phase of integration testing of the Lilium Jet's electrical power system at the company's purpose-built laboratory. The test completion represents a key milestone on the path to flight conditions approval and type-certification of the revolutionary Lilium Jet. It means that, while the first two Lilium Jets take shape on the production line, engineers are already verification the design of the aircraft's core powertrain functionalities that will support certification according to EASA's SC-VTOL rules. The new electrical power system lab is located at Lilium's headquarters as part of the company's test campus on the outskirts of Munich. The electrical power system lab replicates the Lilium Jet's powertrain in a controlled test environment. The lab also integrates low voltage systems that supply the aircraft's avionics and cabin systems, onboard energy isolation units that prevent hazardous energy release, and a functioning charging station. The data gathered will be used to provide evidence to the airworthiness authorities to demonstrate the aircraft's safety and compliance with the type-certification requirements. The lab, which also provides a safe environment in which to inject faults and demonstrate system robustness to failure, has been developed and built in cooperation with Italian supplier EN4, a specialist in advanced testing solutions for aerospace, automotive, railway and industrial applications. For the testing environment, Lilium and EN4 have made extensive use of software and hardware provided by NI, formerly known as National Instruments. In parallel, Lilium continues to progress with the production of the first Lilium Jets which will be used as part of the Lilium Jet type-certification program. The first Lilium Jet will be used exclusively for ground testing and the second jet will be used for the first manned flight. Announcement • Jul 28
Lilium N.V. has filed a Follow-on Equity Offering in the amount of $33 million. Lilium N.V. has filed a Follow-on Equity Offering in the amount of $33 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Jul 22
Lilium N.V. Expands POWER-ON, Creating Comprehensive Solutions Portfolio with Leading Digital Innovators Lilium N.V. announced the next phase of its “POWER-ON” Aftermarket Services portfolio, providing a suite of digital solutions to ensure efficient and seamless operation of the Lilium Jet. The digital suite includes flight planning and aircraft performance ground and Electronic Flight bag solutions, a customer portal with access to technical publications and health monitoring and other ground operations and safety solutions for its customer base. The portal will integrate AI functions for more efficient workflows. These digital systems represent another step towards the Lilium Jet’s planned entry into service in 2026 and reflect the importance of robust digital systems for safe and efficient operations. It represents an integral part of the company’s industry-first service organization, Lilium POWER-ON, which will provide a full portfolio of services for all aspects of the daily operations of the aircraft. Initial partners are already contributing to Lilium’s flight test campaign as part of the first phase. This includes Microsoft’s Azure cloud solution for monitoring the health of the aircraft for flight test clearance. As development continues, the offering will expand to integrate additional critical capabilities for efficient flight planning for the Lilium Jet leveraging proprietary algorithms for Lilium’s energy and propulsion systems, and ground operations/vertiport management systems suitable for various types of landing sites and operating models. “POWER-ON” aims to also develop and offer solutions for passenger check-in and biometric vertiport security screening, working with Amadeus, a leading travel technology company to integrate with Amadeus’ existing wide range of airport IT solutions, and also ensure that Amadeus’ global reservation and distribution systems can be used for eVTOL operations. It will also include Flight Data Monitoring via GE Aerospace’s Event Management System for safety management and training improvement. Additionally, customers will be able to access technical documents and ask for engineering support through a dedicated customer portal—which will integrate AI functions for more efficient workflows. Lilium POWER-ON is Lilium’s services offering for customers and partners, comprising battery management, maintenance, flight operations, training, and digital solutions. Announced earlier this year, Lilium POWER-ON ensures that Lilium partners can access the resources they need while enabling seamless, efficient services and robust aftermarket products. Further partnerships for Lilium’s digital portfolio will be announced shortly. Announcement • May 31
Lilium N.V. to Report Q1, 2024 Results on Jun 11, 2024 Lilium N.V. announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on Jun 11, 2024 New Risk • May 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€304m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Apr 30
Lilium N.V. to Unveil the Full-Scale Lilium Jet Model for the First Time at EBACE2024 Lilium N.V. announced that it will unveil the full-scale Lilium Jet model for the first time at EBACE2024: Europe’s premier aviation and advanced air mobility event, taking place 28-30 May 2024 in Geneva, Switzerland at Palexpo and Geneva Airport. This will be the first public premiere of the full-scale Lilium Jet model. The Lilium Jet, an all-electric vertical take-off and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, represents a significant leap in sustainable aviation. With its pioneering architecture leveraging the advantages of Ducted Electric Vectored Thrust (DEVT), the Lilium Jet will bring remarkable efficiency and accessibility to regional aviation. Lilium started production of the Lilium Jet in 2023. The full-scale Lilium Jet model will be on display at the Lilium Stand adjacent to the hall main entrance (Stand A39, Exhibit Hall 4-6), as part of Lilium’s largest presence at EBACE to date and as one of the largest exhibitors at the show. During the EBACE2024 programme, Lilium will be participating in panel discussions on the Innovation Stage adjacent to the Lilium Stand. These sessions include: Andreas Pfisterer, Head of Flight Operations and Crew Training, will discuss the intersection of human ingenuity and the design process of aircraft design in “Future of Flight – The Balance Between Technology and the Human Touch” scheduled on 28th May; Sebastien Borel, Chief Commercial Officer, will discuss the integration of sustainable aviation with other modes of transportation in “Going the Extra Mile – Will Intermodal Transportation Expand Business Aviation?” scheduled on 30th May. Announcement • Apr 17
Lilium N.V. Starts Production of High-Performance Battery Packs for the Lilium Jet Lilium N.V. announced that it has started production of the advanced, aviation grade battery packs that will power the Lilium Jet on its first piloted flight, targeted for end of 2024. This latest milestone represents a landmark in the development of the Lilium Jet and follows extensive testing of battery pack subcomp components from individual cell to stack level with a focus on performance, safety and regulatory conformity. Lilium's unique, pioneering battery pack is comprised of lithium-ion cells with silicon-dominant anodes that will allow for higher energy, power, and fast-charging capabilities than graphite anode cells. Leading automakers such as Mercedes, Porsche, and GM plan to incorporate silicon anode technology into their premium electric vehicles. Lilium's battery packs are being designed to meet EASA's stringent aircraft safety requirements regarding shock resistance, heat resistance, containment, and redundancy. They are also being designed to deliver outstanding power and energy density to support a business model focused on regional, rather than urban, air mobility. Lilium has been supported in the design of the assembly line and initial production ramp up by suppliers with extensive experience in battery industrialization, especially in the automotive sector. The first units off the battery assembly line will be used for verification testing ahead of the Lilium Jet's first piloted flight. Each Lilium Jet aircraft will be equipped with ten independently functioning battery packs that are designed to enable safe flight and landing, even in case of failure of any single battery pack. Announcement • Mar 26
Lilium N.V Announces Chief Financial Officer Changes Lilium N.V announced they have appointed Johan Malmqvist as Chief Financial Officer (CFO) effective April 1, 2024. Johan Malmqvist brings more than 25 years of experience as a CFO of global public and private companies across a variety of sectors and geographies. Most recently, Johan served as CFO at a premium electric vehicle manufacturer, Polestar Automotive Holding UK PLC, where he led the company’s financial organization, including finance, tax, treasury and investor relations. He also played a pivotal role in successfully navigating Polestar through its U.S. public listing and spearheading the company’s capital formation activities. Prior to Polestar, Johan served over seven years as CFO at Dole Food Company. During his tenure with Dole, Johan played a critical role in the company’s successful merger with Total Produce and its reemergence as a public company. Johan succeeds Oliver Vogelgesang, who has been with Lilium since 2021 when he joined as SVP Finance & Controlling. New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€261m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€261m free cash flow). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€294m net loss in 3 years). Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (33% increase in shares outstanding). Announcement • Feb 15
Lilium N.V. to Report Q4, 2023 Results on Feb 27, 2024 Lilium N.V. announced that they will report Q4, 2023 results Pre-Market on Feb 27, 2024 Announcement • Dec 06
Lilium Starts Production of the Lilium Jet in Watershed Moment for Sustainable Aviation Lilium N.V. announced the start of production of the Lilium Jet, following the arrival of the first Lilium Jet fuselage at Lilium's final assembly line. In parallel, Lilium's world-class tier one suppliers - most of which have decades of experience in supporting the certification requirements of commercial aviation - are ramping up production of parts and systems for the Lilium Jet. With the start of production, Lilium has hit a watershed moment, shifting from the design phase to industrialization of the Lilium Jet. Today's milestone is an important turning point for Lilium's industrial partners and supply chains working to make sustainable regional aviation a reality. In the next step, the fuselage will be matched-up with the aircraft's canards and main wings. Production of the Lilium Jet takes place at Lilium's facilities in Wessling, Germany. EASA approval of Lilium's design competence. The start of assembly follows Lilium's Design Organization Approval by EASA, confirming that Lilium has the organization, procedures, competencies, resources and demonstrated rigor required to certify aircraft according to the very higher safety standards. Announcement • Nov 29
Lilium N.V. Receives Design Organization Approval from the European Union Aviation Safety Agency Lilium N.V. announced that it has received Design Organization Approval from its primary regulatory authority, the European Union Aviation Safety Agency. The award marks a major milestone for Lilium, positioning it at the forefront of the industry as a company authorized to hold a type-certificate for an eVTOL aircraft in Europe. Design Organization Approval reflects a seal of quality assurance for companies in aviation design, formally integrating a company's ability to design and develop safe and compliant aircraft. This major achievement in the development of the revolutionary Lilium Jet reflects the culmination of an extensive qualification process dating back to 2017. New Risk • Nov 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-€85m). Shareholders have been substantially diluted in the past year (73% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€260m net loss in 3 years). Announcement • Sep 27
Lilium Starts Assembly of the Lilium Jet’S Revolutionary Electric Propulsion System Lilium N.V. announced that it is starting assembly of the Lilium Jet’s revolutionary electric propulsion system at its dedicated propulsion facility located next to its headquarters in Wessling, Germany. The announcement marks another exciting milestone on the targeted path towards industrialization and commercial entry into service of the Lilium Jet and reconfirms Lilium’s roadmap towards achieving first manned flight of the aircraft in late 2024.In the first phase of assembly, the propulsion system’s rotating parts, including the shaft, magnets and titanium compressor fan are assembled and mated with the associated static components such as the e-motor stator and guide vanes (for structural support and cooling). These are then integrated into the high performing engine. In the next phase later this year, the electric engines will be integrated into the Lilium Jet’s propulsion mounting system, the unique flap structure that forms the rear part of the wings and front canards and that houses the propulsion and vectoring systems responsible for vertical and horizontal flight. Successful testing of propulsion subsystems: The start of assembly follows extensive testing of propulsion subsystems delivered by suppliers: the custom-designed aircraft e-motor, developed and built-in collaboration with Denso and Honeywell; the titanium compressor fan, developed and built in collaboration with Aeronamic; and electric motor bearings built in collaboration with SKF. In July this year, Lilium completed testing of a full-size prototype Lilium Jet fan and stator at Jetpel’s facilities, one of Germany’s leading aviation technology centers, which confirmed the fan design’s robust operating parameters. Additionally, testing has started on a prototype e-motor, for its mechanical, electrical, and thermal performance. The Lilium Jet e-motor has been designed to deliver industry-leading power density of over 100kW from a system weighing just over 4kg. New Risk • Sep 15
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€85m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€252m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-€85m). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€247m net loss in 3 years). Board Change • Jul 26
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Co-Founder, Chief Engineer for Innovation & Future Programs and Executive Director Daniel Wiegand is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jul 14
Lilium N.V. announced that it expects to receive $41.789991 million in funding from Earlybird Venture Capital GmbH & Co. KG, BiT Capital, Unternehmertum Venture Capital Partners GmbH Lilium N.V. announced that it has entered into agreement for a private placement of 32,146,147 Class A Shares for $1.30 per share for proceeds of $41,789,991 led by new investor Earlybird Venture Capital GmbH & Co. KG on July 13, 2023. The transaction will include participation from new investors BiT Capital, Unternehmertum Venture Capital Partners GmbH, Frank Thelen, as well as company's directors Barry Engle, David Wallerstein and Henri Courpron and multiple company's senior executives. The company will also issue warrants to purchase up to 8,036,528 Class A Shares at an exercise price of $2.00 per share. Each warrant will be immediately exercisable for one quarter of one Class A Share, with only whole Class A Shares issuable upon exercise. The warrants will expire 18 months from the date of issuance. The securities to be issued will be subject to a 90-day lockup. Of the approximately $42,000,000 being raised in the PIPE, we currently expect $21,000,000 to close on July 18, 2023 and $21,000,000 to close on July 31, 2023, in each case subject to satisfaction of customary closing conditions. 
