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Mar 31, 2021
Canoo Q1 2021 Earnings Report
Canoo reported financial results for the first quarter of 2021, with a net loss of $15.2 million and cash and cash equivalents of $641.9 million.
Key Takeaways
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.
All vehicles are open for pre-orders.
Targeted pricing was revealed for the Lifestyle Vehicle.
An electric power research collaboration was announced with the University of Wisconsin.
The company is on track to start production in 2022 and ramp to 15,000 units in 2023.
Canoo
Canoo
Forward Guidance
Canoo provided the following business outlook for the second quarter of 2021:
Positive Outlook
- Operating Expenses (excluding stock-based compensation and depreciation): $65M - $75M
- Capital Expenditures: $45M - $55M