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Sep 30, 2024
Canoo Q3 2024 Earnings Report
Canoo reported quarterly revenue of $0.9 million and adjusted EPS of $(0.54), demonstrating a 67% improvement versus Q3 2023.
Key Takeaways
Canoo Inc. announced its Q3 2024 financial results, posting $0.9 million in revenue. The company focused on consolidating operations and reducing costs, with adjusted EBITDA showing a 2% improvement compared to Q3 2023. They had $16 million in cash, cash equivalents and restricted cash as of September 30, 2024.
Quarterly revenue reached $0.9 million, with year-to-date revenue at $1.50 million.
Adjusted EBITDA was $(37.7) million, a 2% improvement compared to Q3 2023.
Adjusted Net Loss Per Share was $(0.54), a 67% improvement versus Q3 2023.
Cash outflow was $31.3 million in Q3 2024, reduced by 58.6% from Q3 2023.
Forward Guidance
Canoo expects the following guidance for Q4, 2024: Cash Outflow - $30 million to $40 million and Adjusted EBITDA - $(30) million to $(35) million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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