TuSimple reports FY2022 operating loss of $489.1M; pauses US freight ops

TuSimple Holdings Inc.

GAAP loss from operations of $147.3M in Q4 2022 and $489.1M for FY 2022; AEBITDA loss of $93.0M and $348.7M.
Revenue was $1.9M in Q4 2022 (down 9% YoY) and $9.4M for FY 2022 (up 50% YoY); gross loss widened.
Restructuring charges of $26.9M in 2022; global headcount reduced to ~800 as of June 30, 2023 from ~1,450.
Cash, equivalents, and investments at $994.8M at year-end 2022; interest income $16.9M for FY 2022.
Paused U.S. freight operations; evaluating strategic alternatives for U.S. business; expects to file delayed 10-Qs by Sept 30, 2023.

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