Canoo Q1 2022 Earnings Report
Key Takeaways
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.
Cash and cash equivalents were $104.9 million as of March 31, 2022.
GAAP net loss was $125.4 million for the three months ended March 31, 2022.
Adjusted EBITDA was $(117.4) million for the three months ended March 31, 2022.
Net cash used in operating activities totaled $120.3 million for the three months ended March 31, 2022.
Canoo
Canoo
Forward Guidance
Canoo expects operating expenses (excluding stock-based compensation and depreciation) of $95 million to $115 million and capital expenditures of $85 million to $105 million for the second quarter of 2022.