Canoo spent double its annual revenue on the CEO's private jet in 2023 [Yahoo! Finance]
Canoo Inc. - Class A (GOEV)
Company Research
Source: Yahoo! Finance
Canoo posted Monday its fourth-quarter and full-year earnings for 2023 in a regulatory filing that shows a company burning through cash as it tries to scale up volume production of its commercial electric vehicles and avoid the same fate as other EV startups, like recently bankrupt Arrival . The regulatory filing once again contained a "going concern" warning — which has persisted since 2022 — as well as some progress on the expenses and revenue fronts. The company generated $886,000 in revenue in 2023 compared to zero dollars in 2022, as the company delivered 22 vehicles to entities like NASA and the state of Oklahoma. And it did reduce its loss from operations by nearly half, from $506 million in 2022 to $267 million in 2023. The revenue-to-losses gap is still considerable though: The company reported total net losses of $302.6 million in 2023. Still, one only needs to look at what Canoo is paying to rent the CEO's private jet to put those "wins" into perspective. Under a deal
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News
- Is Canoo Inc. (GOEV) Among the Best EV Stocks to Buy for the Long Term? [Yahoo! Finance]Yahoo! Finance
- Canoo Launches Commercial Operations and Activation Center in the United KingdomGlobeNewswire
- Canoo’s Oklahoma City Manufacturing Facility Achieves Final Activation as First Automotive Foreign-Trade Zone in the State of OklahomaGlobeNewswire
- Canoo Inc. (GOEV) Advances While Market Declines: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Canoo (GOEV) Is Considered a Good Investment by Brokers: Is That True? [Yahoo! Finance]Yahoo! Finance
GOEV
Earnings
- 8/14/24 - Beat
GOEV
Sec Filings
- 9/27/24 - Form PRE
- 9/24/24 - Form 8-K
- 9/19/24 - Form 4
- GOEV's page on the SEC website