Loading...
•
Mar 31, 2024
Canoo Q1 2024 Earnings Report
Canoo reported financial results, highlighting deliveries to USPS, entry into the Saudi Arabia market, and adjusted EBITDA improvement.
Key Takeaways
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.
Delivered LDV190 vehicles to the USPS.
Entered the $30 billion TAM Saudi Arabia market with commercial vehicle sales.
Adjusted EBITDA improved by 28.0% compared to Q1 2023.
Oklahoma City Manufacturing Facility Designated as Foreign Trade Zone ('FTZ').
Canoo
Canoo
Forward Guidance
The company's previously issued guidance remains unchanged.