Canoo Q4 2023 Earnings Report
Key Takeaways
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.
Started first commercial fleet customer deliveries from Oklahoma City manufacturing facility.
Purchased manufacturing assets at deep discounts.
Oklahoma City facility received FTZ designation, opening international expansion.
Focused on harmonizing supply chain to align with manufacturing goals.
Canoo
Canoo
Forward Guidance
Canoo provided its business outlook for 2024, including annual revenue expectations between $50 million and $100 million, cash outflow between $45 million and $75 million per quarter. Capital expenditures guidance will be provided in future quarters.
Positive Outlook
- Annual Revenue - $50 million to $100 million
- Continue to seek opportunities to acquire distressed assets
Challenges Ahead
- Cash Outflow - $45 million to $75 million per quarter
- Capital expenditures guidance will be provided in future quarters