Canoo Q4 net loss narrows to $29M, delivers first 17 vehicles; FY2024 revenue guidance $50-100M

Canoo Inc.

2024-Q1 EPS reported -$2.20

GAAP net loss $29.0M Q4, $302.6M FY2023; Adjusted EBITDA $(54.6M) Q4, $(224.4M) FY — 45% YoY improvement
Delivered 22 vehicles FY2023 (17 Q4) to first customers (Oklahoma, Kingbee, Zeeba); secured USPS deal for right-hand-drive LDV190s
Received $45M investment from foreign institutional investor; OKC FTZ designation expected to save up to $70M in costs/duties by 2025
FY2024 revenue guidance $50-100M; cash outflow $45-75M/quarter; capex guidance deferred to future quarters
Appointed former NASA CTO Deborah Diaz and EV veteran James Chen to board of directors

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Canoo Inc. reported fiscal year ended December 31, 2023 results: net income $302.6 million.

Period: fiscal year ended December 31, 2023
Net income: $302.6 million
Result: reported results

Exact text from the filing

Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced its financial results for the fourth quarter and fiscal year 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Canoo Inc. reported 2024 results: revenue $50 million to $100 million. Guidance initiated.

Period: 2024
Revenue: $50 million to $100 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Based upon our current projections, Canoo expects: • Annual Revenue - $50 million to $100 million • Cash Outflow - $45 million to $75 million per quarter

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Canoo Inc. reported fourth quarter 2023 results: net income $29.0 million.

Period: fourth quarter 2023
Net income: $29.0 million
Result: reported results

Exact text from the filing

GAAP net loss and comprehensive loss of $29.0 million and $302.6 million for the three and twelve months ended December 31, 2023

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Source: SEC EDGAR

accession 0001628280-24-014072

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