NEWS ER
Canoo Inc. Announces Third Quarter 2024 Results
-- Quarterly revenue of $0.9 million, and year-to-date revenue of $1.50
million
-- Quarterly Adjusted EBITDA was $(37.7) million, an improvement of 2%
versus Q3 2023
-- Adjusted Net Loss Per Share was $(0.54), a 67% improvement versus $(1.71)
in Q3 2023 and comparable to $(0.61) per share in Q2 2024
-- Quarterly cash outflow of $31.3 million in Q3 2024, compared to cash
outflow of $39.4 million in Q2, 2024, a 20.7% reduction between Q3 and Q2
2024, and a 58.6% reduction from Q3 2023.
-- Our consolidation of operations from California to Texas and Oklahoma
will result in estimated future savings of approximately $12 million -
$14 million on an annualized basis, with potential for additional
savings.
-- Quarterly revenue of $0.9 million, and year-to-date revenue of $1.50
million
-- Quarterly Adjusted EBITDA was $(37.7) million, an improvement of 2%
versus Q3 2023
-- Adjusted Net Loss Per Share was $(0.54), a 67% improvement versus $(1.71)
in Q3 2023 and comparable to $(0.61) per share in Q2 2024
-- Quarterly cash outflow of $31.3 million in Q3 2024, compared to cash
outflow of $39.4 million in Q2, 2024, a 20.7% reduction between Q3 and Q2
2024, and a 58.6% reduction from Q3 2023.
-- Our consolidation of operations from California to Texas and Oklahoma
will result in estimated future savings of approximately $12 million -
$14 million on an annualized basis, with potential for additional
savings.
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