iPhone 17 Air leak shows off impossibly thin battery — and it's bigger than we thought
We are so close to the launch of Apple's next iPhone generation. The iPhone 17 series is expected to be officially announced next month, and consistent rumors have suggested that there will be an iPhone 17 Air accompanying the usual suspects.
A new rumor from reliable leaker Mijan Bu reveals the iPhone 17 Air's battery capacity, which is reportedly 2,900mAh, slightly larger than initially expected. The leak also says the battery is housed in a steel case.
Previously, we had heard that Apple's extra-slim phone would have a 2,800mAh battery. Sure, it's only 100mAh difference, but when you're talking about a battery that small (the iPhone 16 uses a 3,561mAh battery, for perspective) any extra juice is a good thing.
As scary as a battery that small is, reports indicate that it'll still offer a full day of battery life thanks to improvements in battery life technology and some performance tweaks in iOS 26. Obviously, we'll need to test this for ourselves to see if a battery under 3,000mAh can really meet the demands of iPhone users, but I'm hopeful.
The battery is expected to be small, as previous reports have indicated that the phone will be just 5.5mm thick. The iPhone 16 is 7.8mm, so there's a noticeable difference in depth between the current phone and the rumored Air. If Apple manages to get to that rumored thickness, that would just beat the Samsung Galaxy S25 Edge, which measures 5.8mm.
Apple may not be the first to release a thin phone, but it might have the thinnest, which seems to be the way Apple operates.
The iPhone 17 Air is rumored to replace the iPhone 16 Plus in Apple's lineup, meaning the company would still release four devices — iPhone 17, iPhone 17 Air, iPhone 17 Pro and iPhone 17 Pro Max.
The current prevailing rumor has said that Apple will hold its iPhone 17 event between September 8 and 10, so we won't need to wait too long to learn all about the thin iPhone on the horizon.
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We exclude amortization of acquired intangible assets from the calculation of non-GAAP net income (loss) and non-GAAP operating expenses. We believe that excluding the impact of amortization of acquired intangible assets allows for more meaningful comparisons between operating results from period to period as the underlying intangible assets are valued at the time of acquisition and are amortized over several years after the acquisition. We exclude contingent consideration liability valuation adjustments associated with the purchase consideration of transactions accounted for as business combinations. We also exclude certain other one-time, non-recurring items, when applicable, such as acquisition-related and restructuring expenses, because we do not consider such amounts to be part of our ongoing operations nor are they comparable to prior period nor predictive of future results. Non-GAAP net income (loss) and non-GAAP operating expenses are presented for supplemental informational purposes only, have limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Some of these limitations include that: (1) they do not consider the impact of stock-based compensation expense; (2) although amortization is a non-cash charge, the underlying assets may need to be replaced and non-GAAP net income (loss) and non-GAAP net income do not reflect these capital expenditures; (3) they do not consider the impact of any contingent consideration liability valuation adjustments; (4) they do not include the amortization of acquired intangible assets but non-GAAP net income (loss) does include the revenue that these acquired intangible assets contribute to the enterprise; and (5) they do not consider the impact of other one-time charges, such as acquisition-related and restructuring expenses, which could be material to the results of our operations. In addition, our use of non-GAAP net income (loss) and non-GAAP operating expenses may not be comparable to similarly titled measures of other companies because they may not calculate non-GAAP net income (loss) and non-GAAP operating expenses in the same manner, limiting their usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider non-GAAP net income (loss) and non-GAAP operating expenses alongside other financial measures, including our net loss, operating expenses, and other results stated in accordance with GAAP. Information About Operating and Financial Metrics We regularly monitor the following operating and financial metrics in order to measure our current performance and estimate our future performance. Our key operating and financial metrics may be calculated in a manner different than similar business metrics used by other GMV - Marketplace GMV is primarily driven by the volume and dollar value of Marketplace Unit transactions. We believe that Marketplace GMV acts as an indicator of our success, signaling satisfaction of dealers and buyers, and the health, scale, and growth of our business. We define Marketplace GMV as the total dollar value of vehicles transacted within the applicable period, excluding any auction and ancillary fees. Marketplace Units - Marketplace Units is a key indicator of our potential for growth in Marketplace GMV and revenue. It demonstrates the overall engagement of our customers and our market share of wholesale transactions in the United States. We define Marketplace Units as the number of vehicles transacted within the applicable period. Marketplace Units transacted includes any vehicle that successfully reaches sold status, even if the auction is subsequently unwound, meaning the buyer or seller does not complete the transaction. These instances have been immaterial to date. Marketplace Units excludes vehicles that were inspected by ACV, but not sold. Marketplace Units have generally increased over time as we have expanded our territory coverage, added new dealer partners and increased our share of wholesale transactions from existing customers. Forward-Looking Statements This presentation contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning our financial guidance for the fourth quarter of 2024 and the full year of 2024. In some cases, you can identify forward-looking statements because they contain words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will' or 'would' or the negative of these words or other similar terms or expressions. You should not rely on forward-looking statements as predictions of future events. The forward-looking statements contained in this presentation are based on ACV's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties and changes in circumstances that may cause ACV's actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These risks and uncertainties include, but are not limited to: (1) our history of operating losses; (2) our limited operating history; (3) our ability to effectively manage our growth; (4) our ability to grow the number of participants on our marketplace platform; (5) general market, political, economic, and business conditions including any possible impact from new, reinstated or adjusted tariffs; (6) our ability to acquire new customers and successfully retain existing customers; (7) our ability to effectively develop and expand our sales and marketing capabilities; (8) our ability to successfully introduce new products and services; (9) breaches in our security measures, unauthorized access to our marketplace platform, our data, or our customers' or other users' personal data; (10) risk of interruptions or performance problems associated with our products and platform capabilities; (11) our ability to adapt and respond to rapidly changing technology or customer needs; (12) our ability to compete effectively with existing competitors and new market entrants; (13) our ability to comply or remain in compliance with laws and regulations that currently apply or become applicable to our business in the United States and other jurisdictions where we elect to do business; (14) the impact that economic conditions could have on our or our customers' businesses, financial condition and results of operations; and (15) the impact of such economic conditions in the wholesale dealer market included in our guidance for the second quarter of 2025 and full year 2025, and the related impact on the performance of our marketplace and our operating expenses, stock-based compensation expense and intangible amortization. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission ('SEC'), including in the section entitled 'Risk Factors' in our Form 10-K for the year ended December 31, 2024, filed with the SEC on February 19, 2025. Additional information will be made available in other filings and reports that we may file from time to time with the SEC. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law. Investor Contact: Tim Foxtfox@ Media Contact: Maura Dugganmduggan@ ACV AUCTIONS CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(in thousands, except per share data) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Marketplace and service revenue $ 175,995 $ 144,126 $ 341,932 $ 273,940 Customer assurance revenue 17,708 16,498 34,468 32,373 Total revenue 193,703 160,624 376,400 306,313 Marketplace and service cost of revenue (excluding depreciation & amortization) 74,319 64,253 143,721 119,946 Customer assurance cost of revenue (excluding depreciation & amortization) 16,909 14,558 30,886 27,372 Operations and technology 45,801 39,694 89,991 77,763 Selling, general, and administrative 52,972 51,912 111,990 105,765 Depreciation and amortization 10,897 8,848 21,438 16,635 Total operating expenses 200,898 179,265 398,026 347,481 Loss from operations (7,195 ) (18,641 ) (21,626 ) (41,168 ) Interest income 2,152 2,329 4,041 5,360 Interest expense (2,286 ) (606 ) (4,196 ) (1,141 ) Total other income (expense) (134 ) 1,723 (155 ) 4,219 Loss before income taxes (7,329 ) (16,918 ) (21,781 ) (36,949 ) (31 ) 145 334 585 Net loss $ (7,298 ) $ (17,063 ) $ (22,115 ) $ (37,534 ) Weighted-average shares - basic and diluted 170,472 164,384 169,415 163,637 Net loss per share - basic and diluted $ (0.04 ) $ (0.10 ) $ (0.13 ) $ (0.23 ) ACV AUCTIONS CONSOLIDATED BALANCE SHEETS(Unaudited)(in thousands) June 30,2025 December 31,2024 Assets Cash and cash equivalents $ 258,365 $ 224,065 Marketable securities 46,368 46,036 Trade receivables (net of allowance of $4,368 and $6,372) 209,880 168,770 Finance receivables (net of allowance of $5,097 and $4,191) 207,068 139,045 Other current assets 16,254 15,281 Total current assets 737,935 593,197 Property and equipment (net of accumulated depreciation of $5,804 and $5,227) 10,135 7,625 Goodwill 183,676 180,478 Acquired intangible assets (net of amortization of $34,998 and $28,972) 86,206 90,816 Capitalized software (net of amortization of $52,842 and $38,499) 75,648 68,571 Other assets 44,673 43,462 Total assets $ 1,138,273 $ 984,149 Liabilities and Stockholders' Equity Accounts payable $ 430,646 $ 345,605 Accrued payroll 12,100 16,725 Accrued other liabilities 19,912 18,836 Total current liabilities 462,658 381,166 Long-term debt 186,500 123,000 Other long-term liabilities 40,332 39,979 Total liabilities 689,490 544,145 Commitments and Contingencies Preferred Stock — — Common Stock 172 168 Common Stock - Class B — — Additional paid-in capital 971,390 944,891 Accumulated deficit (524,430 ) (502,315 ) Accumulated other comprehensive income (loss) 1,651 (2,740 ) Total stockholders' equity 448,783 440,004 Total liabilities and stockholders' equity $ 1,138,273 $ 984,149 ACV AUCTIONS CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(in thousands) Six months ended June 30, 2025 2024 Net loss $ (22,115 ) $ (37,534 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 21,449 16,682 Stock-based compensation expense, net of amounts capitalized 32,028 29,794 Provision for bad debt 3,111 5,055 Other non-cash, net 2,266 119 Changes in operating assets and liabilities, net of effects from purchases of businesses: Trade receivables (41,714 ) (19,158 ) Other operating assets (1,059 ) 3,036 Accounts payable 85,423 37,641 Other operating liabilities 950 11,856 Net cash provided by operating activities 80,339 47,491 Net increase in finance receivables (71,564 ) (1,851 ) Purchases of property and equipment (4,205 ) (2,872 ) Capitalization of software costs (17,932 ) (14,855 ) Purchases of marketable securities (24,833 ) (21,607 ) Maturities and redemptions of marketable securities 24,888 69,699 Sales of marketable securities — 122,698 Acquisition of businesses (net of cash acquired) — (155,209 ) Net cash used in investing activities (93,646 ) (3,997 ) Proceeds from long term debt 220,000 340,000 Payments towards long term debt (156,500 ) (345,000 ) Payment of debt issuance costs (1,457 ) (1,702 ) Proceeds from exercise of stock options 531 6,812 Payment of RSU tax withholdings in exchange for common shares surrendered by RSU holders (17,636 ) (13,110 ) Proceeds from employee stock purchase plan 2,534 1,998 Other financing activities (74 ) (23 ) Net cash provided by (used in) financing activities 47,398 (11,025 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 209 (68 ) Net increase in cash, cash equivalents, and restricted cash 34,300 32,401 224,065 182,571 $ 258,365 $ 214,972 The following table presents a reconciliation of non-GAAP net income (loss) to net income (loss), the most directly comparable financial measure stated in accordance with GAAP, for the periods presented: Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net income (loss) $ (7,298 ) $ (17,063 ) $ (22,115 ) $ (37,534 ) Stock-based compensation 15,454 14,965 32,028 29,794 Amortization of acquired intangible assets 2,591 3,013 5,364 5,226 Amortization of capitalized stock based compensation 1,504 980 2,967 1,908 Acquisition-related costs — 1,187 403 3,306 Litigation-related costs (1) — — 1,100 1,553 Other — 145 — 189 Non-GAAP Net income (loss) $ 12,251 $ 3,227 $ 19,747 $ 4,442 (1) Litigation-related costs are related to an anti-competition case which we do not consider to be representative of our underlying operating performance The following table presents a reconciliation of Adjusted EBITDA to net income (loss), the most directly comparable financial measure stated in accordance with GAAP, for the periods presented: Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Adjusted EBITDA Reconciliation Net income (loss) $ (7,298 ) $ (17,063 ) $ (22,115 ) $ (37,534 ) Depreciation and amortization 10,904 8,880 21,450 16,682 Stock-based compensation 15,454 14,965 32,028 29,794 Interest expense (income) 134 (1,723 ) 155 (4,219 ) Provision for income taxes (31 ) 145 334 585 Acquisition-related costs — 1,187 403 3,306 Litigation-related costs (1) — — 1,100 1,553 Other (586 ) 687 (870 ) 1,180 Adjusted EBITDA $ 18,577 $ 7,078 $ 32,485 $ 11,347 (1) Litigation-related costs are related to an anti-competition case which we do not consider to be representative of our underlying operating performance The following table presents a reconciliation of Non-GAAP total operating expenses (excluding cost of revenue) to GAAP total operating expenses, the most directly comparable financial measure stated in accordance with GAAP, for the periods presented: Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Total operating expenses $ 200,898 $ 179,265 $ 398,026 $ 347,481 Non-GAAP Adjustments: Marketplace and service cost of revenue (excluding depreciation & amortization) 74,319 64,253 143,721 119,946 Customer assurance cost of revenue (excluding depreciation & amortization) 16,909 14,558 30,886 27,372 Stock-based compensation 15,173 14,759 31,442 29,339 Amortization of acquired intangible assets 2,591 3,013 5,364 5,226 Amortization of capitalized stock-based compensation 1,504 980 2,967 1,908 Acquisition-related costs — 1,187 403 3,307 Other — 145 1,100 1,743 Non-GAAP Total operating expenses (excluding cost of revenue) $ 90,402 $ 80,370 $ 182,143 $ 158,640 The following table presents a reconciliation of non-GAAP net income (loss) to GAAP net income (loss), the most directly comparable financial measure stated in accordance with GAAP, for the periods presented (in millions): Three months ended September 30, 2025 Year ended December 31, 2025 Non-GAAP net income (loss) to net income (loss) guidance Reconciliation Net income (loss) ($13) - ($11) ($51) - ($47) Non-GAAP Adjustments: Stock-based compensation $19 $70 Intangible amortization $3 $11 Amortization of capitalized stock-based compensation $2 $6 Other — $2 Non-GAAP net income $11 - $13 $38 - $42 Error in retrieving data Sign in to access your portfolio Error in 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Ford to invest $5 billion in EV production. Here's what to know.
Ford is investing $5 billion to change the way it makes electric vehicles, a move the automaker says will allow it to manufacture models starting at $30,000 — far less than the current average price for an EV. The Dearborn, Michigan-based company on Monday said it will invest $2 billion to modernize its Louisville Assembly Plant and another $3 billion to build a new battery plant in Michigan, part of its push to produce more affordable EVs. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You The company unveiled its new "universal EV platform" at a Monday event, with Ford CEO Jim Farley calling it "the most radical change on how we design and how we build vehicles at Ford since the Model T," which Ford introduced in 1908. According to Ford, the new assembly line will be structured more like an "assembly tree," with three different lines that converge into one, rather than a single assembly belt. "This way of building a vehicle, we're confident, is the first time anyone's done this anywhere in the world," said Doug Field, Ford's EV chief of digital and design, at Monday's event. The company said the design will lead to a quicker, smoother assembly process and improve ergonomics for employees through a less obstructive layout. "Ford's announcement is very ambitious, because it includes both a new production process and a new vehicle," said Patrick Anderson, founder of Michigan-based consulting firm Anderson Economic Group, in an email to CBS MoneyWatch. "If they can actually pull off a production line that has 40% fewer workstations and 20% fewer parts, it will be worthy of the 'Model T moment' claim. Ford's first EV from the new system The first product of this new production system will be a four-door midsize truck, which will debut in 2027. Farley said on Monday that the new vehicle will accommodate five people and feature a "frunk" — a front storage compartment — as well as a pickup truck bed. The vehicle will start at $30,000. By comparison, the average price for a new electric vehicle in July was about $56,000, according to Kelley Blue Book. Field touted the new vehicle's charging capabilities, referring to the truck as a "mobile power plant." "Outlets in the back can give you high power and let you plug in anything from tools to a refrigerator, and it can provide backup power for your home," he said. The midsize electric truck could be produced up to 40% faster than other vehicles at the Louisville Assembly Plant due to the new process, Ford said. In another effort to lower costs, the auto company is also reducing the number of components that go into each car. Vehicles produced on the "universal EV platform" will have 20% fewer parts than a traditional vehicle, Ford said. The company will also use smaller cobalt and nickel-free batteries that will allow it to make "cost gains," according to a video shared by Ford. Anderson said that Ford has its work cut out for them given that the new truck will need to be competitively priced and economical. According to the auto industry expert, the cost of charging EV trucks currently on the market is often much higher than the price at the pump for gas-powered versions. A report from the Anderson Economic Group shows pickup trucks drivers in New York, California and Michigan face "significantly higher costs" if they rely on an EV. A successfully lower-cost truck model, however, could spur a new chapter for the company in its manufacturing of EVs. "If Ford shows the industry it can build and sell a reliable compact EV truck for $30,000, it will sell a lot of them, and open the door to making sedans using the new production process," Anderson said. Derek and the Dominos co-founder Bobby Whitlock dies Artisan bakers sparking sourdough boom At least 1 dead, dozens injured and others trapped in U.S. Steel plant explosion in Pennsylvania Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
