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Jun 30, 2022
Canoo Q2 2022 Earnings Report
Announced second quarter 2022 results with over $1 billion sales pipeline and a definitive agreement with Walmart to purchase 4,500 units.
Key Takeaways
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.
Over $1 billion sales pipeline.
Signed definitive agreement with Walmart for 4,500 units with an option for up to 10,000 units.
Completed 90% of structural crash testing.
Advanced to Start of Production in Q4.
Forward Guidance
Canoo expects operating expenses (excluding stock-based compensation and depreciation) between $200 million and $245 million, and capital expenditures between $100 million and $125 million for the second half of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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