The earnings call highlighted significant achievements in revenue, cost reduction, and international expansion. However, it also addressed notable challenges, including workforce reductions, delayed production plans, and capital alignment issues. The company is making strategic moves to focus on fleet customers and international markets.

Company Guidance

During the Canoo Q3 2024 earnings call, executives provided several key metrics reflecting the company's financial and operational guidance. The company reported a record-breaking quarterly revenue of $891,000, contributing to life-to-date revenues of approximately $1.5 million. They achieved a 20% reduction in research and development expenses compared to the previous year, aiming for annualized savings between $12 million and $14 million through site consolidations. Adjusted EBITDA improved by $2.6 million, moving from negative $40.4 million in Q3 2023 to negative $37.7 million in Q3 2024. The company secured a $12 million credit facility and raised $28 million in capital, with cash and equivalents totaling $16.1 million by the end of the quarter. Looking forward, Canoo anticipates cash outflows between $30 million and $40 million, driven by ongoing location consolidations. The company also highlighted strategic focus areas, including non-GAAP metrics, where they reported a 2.3% improvement in adjusted EBITDA and a significant 74.3% improvement in adjusted net loss per share over a comparable nine-month period.

Record-Breaking Revenue

Achieved the highest revenue quarter at $891,000 in Q3 2024, with life-to-date revenues of about $1.5 million.

Engineering and Manufacturing Progress

Completed 45 relocations from California to Oklahoma facilities, established a share pool for supplier partners, and received FTC certifications for exports and imports.

Cost Reduction Achievements

Achieved a 20% reduction in R&D expenses in Q3 2024 compared to Q3 2023 and a $2.6 million quarterly adjusted EBITDA improvement.

International Expansion

Successful engagements with major fleets in the U.K., established a legal entity, and completed IVA for 2 pilot vehicles with a 2% BOM change.

Capital Raising Success

Raised $28 million in capital and secured a $12 million credit facility.

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Canoo (GOEV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GOEV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 26, 2025	2024 (Q4)	-0.46 / -	-0.92	―	―	―
Nov 13, 2024	2024 (Q3)	-0.77 / 0.03	-4.14	100.72% (+4.17)
Aug 14, 2024	2024 (Q2)	-0.87 / -0.09	-3.22	97.20% (+3.13)
May 14, 2024	2024 (Q1)	- / -	-3.91	―
Apr 01, 2024	2023 (Q4)	-1.00 / -2.20	-3.91	43.73% (+1.71)
Nov 14, 2023	2023 (Q3)	-2.76 / -4.14	-9.89	58.14% (+5.75)
Aug 14, 2023	2023 (Q2)	-4.49 / -3.22	-15.64	79.41% (+12.42)	―
May 15, 2023	2023 (Q1)	-4.37 / -3.91	-12.42	68.52% (+8.51)	―
Mar 30, 2023	2022 (Q4)	-8.05 / -5.75	-13.8	58.33% (+8.05)
Nov 09, 2022	2022 (Q3)	-11.04 / -9.89	-8.05	-22.86% (-1.84)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GOEV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	$0.62	$0.54	-12.90%
Aug 14, 2024	$1.41	$1.54	+9.22%
May 14, 2024	$2.79	$2.65	-5.02%
Apr 01, 2024	$3.87	$2.80	-27.65%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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