Canoo Inc. · Q1 2022 earnings

Briefing

Announced first quarter 2022 results, reporting a GAAP net loss of $125.4 million and holding $104.9 million in cash and cash equivalents.

Canoo Inc. reported its Q1 2022 financial results, which included a GAAP net loss of $125.4 million and cash and cash equivalents of $104.9 million. The company highlighted having access to over $600 million in capital to support their production start. They also reported over 17,500 preorders with a projected value of $750 million.

• Cash and cash equivalents were $104.9 million as of March 31, 2022.
• GAAP net loss was $125.4 million for the three months ended March 31, 2022.
• Adjusted EBITDA was $(117.4) million for the three months ended March 31, 2022.
• Net cash used in operating activities totaled $120.3 million for the three months ended March 31, 2022.

Headline financials

Revenue & EPS history

Canoo expects operating expenses (excluding stock-based compensation and depreciation) of $95 million to $115 million and capital expenditures of $85 million to $105 million for the second quarter of 2022.