Canoo Earnings Reports

Canoo Inc. announced its Q3 2024 financial results, posting $0.9 million in revenue. The company focused on consolidating operations and reducing costs, with adjusted EBITDA showing a 2% improvement compared to Q3 2023. They had $16 million in cash, cash equivalents and restricted cash as of September 30, 2024.

Canoo Inc. reported a quarterly revenue record of $605K and a 38% year-over-year improvement in Adjusted EBITDA. The company is focused on large fleet customers and finalized their configurations, demonstrating the platform's versatility.

Canoo announced its Q1 2024 financial results, featuring deliveries of LDV190 vehicles to the USPS and expansion into the Saudi Arabia market. The company reported a GAAP net loss of $(110.7) million, but also highlighted an improvement in adjusted EBITDA to $(48.3) million compared to Q1 2023.

Canoo Inc. announced its Q4 and Fiscal Year 2023 financial results, highlighting the start of commercial fleet customer deliveries and a focus on harmonizing the supply chain. The company also reported a GAAP net loss of $29.0 million for the quarter and has been working to reduce capital expenditures and improve operational efficiency.

Canoo reported minimal revenue in Q3 2023 due to ongoing production delays and supply chain issues. The company continues to focus on securing additional funding and advancing its manufacturing capabilities.

Canoo Inc. reported its Q2 2023 financial results, highlighting the settlement of a legacy SEC matter, the introduction of the LDV 190, achievement of installed manufacturing capacity in Oklahoma, generation of first revenues from vehicle deliveries and a government contract, and the closing of a Fortune 100 customer agreement.

Canoo Inc. reported its Q1 2023 financial results, featuring a GAAP net loss of $90.7 million and an adjusted EBITDA loss of $67.1 million. The company had $6.7 million in cash and cash equivalents as of March 31, 2023, which would have been $69.7 million after considering subsequent financing activities. Canoo is focused on achieving a 20K run-rate by the end of 2023 and targeting gross margin positivity in 2025.

Canoo Inc. reported a GAAP net loss of $80.2 million for the fourth quarter of 2022 and had cash and cash equivalents of $36.6 million as of December 31, 2022. The company focused on achieving milestones, managing legacy matters, and optimizing manufacturing and cost efficiency.

Canoo Inc. announced its Q3 2022 financial results, highlighting a growing order book reaching over $2 billion, secured manufacturing with SOP on November 17, 2022, and validated product through advanced deliveries. The company is also finalizing multiple equity initiatives and evaluating non-dilutive capital sources.

Canoo Inc. reported a GAAP net loss of $164.4 million for the second quarter of 2022. The company highlighted a sales pipeline exceeding $1 billion, including a commercial order, and progress towards Start of Production in Q4. They also have access to up to $250 million, including approximately $220 million of unused capacity on their SEPA facility, and cash and cash equivalents of $33.8 million.

Canoo Inc. reported its Q1 2022 financial results, which included a GAAP net loss of $125.4 million and cash and cash equivalents of $104.9 million. The company highlighted having access to over $600 million in capital to support their production start. They also reported over 17,500 preorders with a projected value of $750 million.

Canoo Inc. announced its financial results for the fourth quarter and fiscal year 2021, highlighting key progress with multiple agreements with the state of Oklahoma, including the purchase of 1,000 vehicles, groundbreaking in Pryor Oklahoma, and the announcement of an Advanced Manufacturing facility in Bentonville, Arkansas.

Canoo announced its Q3 2021 financial results, highlighting the acceleration of advanced manufacturing production in the U.S. to begin before Q4 2022. They are targeting approximately $400 million in non-dilutive financial incentives and approximately $100 million in vehicle orders with states and universities.

Canoo announced its Q2 2021 financial results, highlighting their focus on sustainable and affordable mobility and key contracts with VDL Nedcar and Oklahoma for manufacturing.

Canoo Inc. announced its Q1 2021 financial results, reporting a GAAP net loss of $15.2 million and holding $641.9 million in cash and cash equivalents. The company is on track to start production in 2022 and ramp to 15,000 units in 2023.

Canoo reported a GAAP Net loss and comprehensive loss of $12.3 million for Q4 2020, which included a $115.4 million gain on fair value change of earnout right liability. Adjusted EBITDA was $(42.5) million. The company had cash and cash equivalents of $702.4 million as of December 31, 2020.