OTC$TSPH
TuSimple Holdings Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
TuSimple made progress on key initiatives to launch scalable autonomous freight operations and expanded its Autonomous Freight Network.
TuSimple reported a Q2 2021 revenue of $1.5 million, a ~5x increase year-over-year. The company focused on advancing its Driver-Out pilot program, L4 semi-truck production with Navistar, and expanding the Autonomous Freight Network (AFN). TuSimple's R&D team grew, and the company achieved approximately 4.6 million cumulative road miles by the end of the quarter.
- Accelerated hiring of world class R&D talent.
- Launched new Dallas-Fort Worth facility to meet growing freight demand.
- Demonstrated power of TSP technology to revolutionize freight during a pilot with Giumarra.
- Achieved industry-leading ~4.6 million cumulative road miles by quarter-end.
Headline financials
Revenue & EPS history
TuSimple · Revenue · Quarterly
$1.48M
Forward guidance
TuSimple provided full year 2021 guidance, including revenue between $5 million and $7 million, R&D expense between $200 million and $220 million (excluding stock-based compensation), G&A expense between $50 million and $60 million (excluding stock-based compensation), stock-based compensation between $130 million and $150 million, capex between $14 million and $18 million, Adjusted EBITDA between ($260) million and ($280) million, and expects to end 2021 with a cash position greater than $1.25 billion.
Tailwinds
- Revenue of $5 -$7 million
- R&D expense guidance upward to $200 -$220 million, excluding stock-based compensation, to reflect enhanced strategic investment in building out critical technology teams to accelerate and de-risk our technology development
- G&A expense guidance upward to $50 -$60 million, excluding stock-based compensation related to higher people costs for critical functions such as IT and HR which scale with the broader business
- Introducing stock-based compensation guidance between $130 -$150 million, includes one-time items triggered by the IPO
- Expect to end 2021 with a cash position greater than $1.25 billion
Headwinds
- Adjusting R&D expense guidance upward to reflect strategic investment in building out critical technology teams.
- Adjusting G&A expense guidance upward due to higher people costs for critical functions.
- Introducing stock-based compensation guidance including one-time items triggered by the IPO.
- Adjusting Capex guidance to purchase rather than lease semi-trucks, the acceleration of AFN terminal buildouts, and the expansion of testing and G&A facilities
- Introducing Adjusted EBITDA guidance between ($260) -($280) million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
+3.5%
Avg return
Earnings day
+12.2%
Avg return
5 days after
+100.0%
Avg return
30 days after
60%
9 / 15 earnings
Positive
+20.2%
Q4 2022
Best reaction
-9.9%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2023 | +0.0% | +12.2% | +100.0% | |
| Q3 2023 | -5.2% | — | — | |
| Q1 2023 | +7.6% | — | — | |
| Q2 2023 | +7.6% | — | — | |
| Q4 2022 | +20.2% | — | — | |
| Q3 2022 | +6.6% | — | — | |
| Q2 2022 | +8.0% | — | — | |
| Q1 2022 | +5.6% | — | — | |
| Q4 2021 | +11.9% | — | — | |
| Q4 2019 | +11.9% | — | — | |
| Q3 2021 | -5.3% | — | — | |
| Q3 2020 | -5.3% | — | — | |
| Q2 2021 | -9.9% | — | — | |
| Q4 2020 | -2.7% | — | — | |
| Q1 2021 | +2.1% | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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