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Sep 30, 2022
Canoo Q3 2022 Earnings Report
Canoo's Q3 2022 results were announced, revealing a growing order book and progress in manufacturing and product validation.
Key Takeaways
Canoo Inc. announced its Q3 2022 financial results, highlighting a growing order book reaching over $2 billion, secured manufacturing with SOP on November 17, 2022, and validated product through advanced deliveries. The company is also finalizing multiple equity initiatives and evaluating non-dilutive capital sources.
Customer demand is strong with the order book growing to over $2B, including $750M in binding orders.
Product validation was completed through advanced deliveries, refining vehicle custom configuration for Walmart.
Manufacturing is secured with SOP on November 17, 2022, and vehicle & battery module manufacturing facilities announced.
The company is finalizing multiple equity initiatives and evaluating non-dilutive capital sources.
Forward Guidance
Canoo expects operating expenses (excluding stock-based compensation and depreciation) between $70 million and $90 million and capital expenditures between $30 million and $50 million for Q4 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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