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Jun 30, 2022
TuSimple Q2 2022 Earnings Report
TuSimple's progress towards driver out commercialization and partnership with Hegelmann Group were the highlights of the quarter.
Key Takeaways
TuSimple reported a revenue of $2.6 million, a 73% increase year-over-year. The company is focused on preparing for driver out operations in the Texas Triangle and continues to drive towards commercialization.
Announced leadership changes with the addition of two key positions to support commercialization.
Expanded patent portfolio with 37 new patents focusing on efficient commercial AV operations.
Announced partnership with global logistics leader, Hegelmann Group.
Updated 2022 adjusted EBITDA, stock-based compensation, CapEx and ending cash balance guidance.
Forward Guidance
TuSimple provided updated full year 2022 guidance.
Positive Outlook
- Revenue: $9 - $11 million, unchanged
- Adjusted EBITDA Loss: $360 - $380 million (previous: $400 - $420 million)
- Stock-based Compensation Expense: $100 - $120 million (previous: $155 - $175 million)
- Purchases of property and equipment: $20 - $30 million (previous: $30 - $40 million)
- Ending Cash at 12/31/2022: Approximately $950 million (previous: approximately $900 million)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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