Quarterly revenue of $0.9 million, and year-to-date revenue of $1.50 millionQuarterly Adjusted EBITDA was $(37.7) million, an improvement of 2% versus Q3 2023Adjusted Net Loss Per Share was $(0.54), a 67% improvement versus $(1.71) in Q3 2023 and comparable to $(0.61) per share in Q2 2024Quarterly cash outflow of $31.3 million in Q3 2024, compared to cash outflow of $39.4 million in Q2, 2024, a 20.7% reduction between Q3 and Q2 2024, and a 58.6% reduction from Q3 2023.Our consolidation of operations from California to Texas and Oklahoma will result in estimated future savings of approximately $12 million - $14 million on an annualized basis, with potential for additional savings. JUSTIN, Te

JUSTIN, Texas, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the third quarter ended September 30, 2024 after the market close on Wednesday, November 13, 2024 and host a conference call and webcast at 5 p.m. ET to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Kunal Bhalla, Chief Financial Officer, and Ramesh Murthy, Senior Vice President Finance, Chief Accounting Officer, and Chief Administrative Officer. Conference Call and Webcast DetailsA slide presentation and webcast link will be posted on the Canoo

Quarterly revenue record of $605KQuarterly Adjusted EBITDA was $(38.6) million, an improvement of 38% versus Q2 2023, and an improvement of 20% versus Q1 2024Adjusted Net Loss Per Share was $(0.61), a 46% improvement from $(1.13) per share in Q1 202433% or $20.7 million reduction in Operating Expenses versus Q1 2024Reduced total quarterly cash outflow by $39 million or 49% in Q2 2024 versus Q2 2023Relocating headquarters from California to Texas and continued migration to our Oklahoma City and Pryor, OK facilitiesSuccessfully concluded Red Sea Global pilot in extreme terrains and climatic conditionsAdvanced our customer acquisition of large commercial fleets in the US, UK and Middle-East whi

JUSTIN, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the second quarter ended June 30, 2024 after the market close on Wednesday, August 14, 2024 and host a conference call and webcast at 5 p.m. ET to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Greg Ethridge, Chief Financial Officer and Ramesh Murthy, Senior Vice President, Finance and Chief Accounting Officer. Conference Call and Webcast DetailsA slide presentation and webcast link will be posted on the Canoo Investor Relations website at inves

JUSTIN, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025. Canoo received 44 containers with 226 lots of advanced manufacturing assets including state-of-the-art robots along with a suite of comprehensive production infrastructure. These assets will streamline Canoo's production processes, lead

Quarterly Adjusted EBITDA was $(48.3) million, an improvement of 28.0% (or $18.8 million) versus Q1 2023 and an improvement of 11.5% (or $6.3 million) versus Q4 2023Adjusted Net Loss Per Share was $(1.13) per share, a 34.6% Improvement from $(1.73) per share in Q4 2023Increased Purchases of Long Lead Time New and Like New Equipment at Large Discounts by Six Times in Q1 2024 versus Q4 2023; Reduces Future Capital Expenditures by Approximately $50 million in 2024Active Discussions on Additional Purchases of Deeply Discounted EquipmentDeliveries to US Postal Service of Right-Hand Drive LDV 190s; On the Road Delivering MailEnters $30 Billion TAM Saudi Arabia Market with Commercial Vehicle SalesD

Justin, TX, May 03, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period. Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here. Date: Tuesday, May 14, 2024Time: 5:00 pm ETU.S. Dial-in: 877-407-9169International Dial-in: 201-493-6755Access ID: 13746555 An audio replay of the call will be availa

45% or $184.2 million Annual Adjusted EBITDA Improvement from $(408.6) million in 2022 to $(224.4) million in 202340% or $11.9 million Reduction in Capital Expenditures versus already reduced 2023 Second-Half GuidanceSecured USPS Agreement to Purchase Right Hand Drive LDV 190sStarted Commercial Fleet Customer DeliveriesAcquired Advanced Manufacturing Assets at Deep Discounts Reducing Anticipated Capital Expenditures by ~34%Oklahoma City Manufacturing Facility Designated as Foreign Trade Zone ("FTZ") Opening International Expansion and Delivers up to $70.0 million in Estimated Vehicle Cost Savings and Duty Deferrals in 2024 and 2025Appointed Former NASA Chief Technology Officer Deborah Diaz a

Justin, TX, March 25, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a leading high-tech advanced mobility company, today announced that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The purchased assets will be collected into more than 20 containers and shipped by sea to Canoo's manufacturing facilities in Oklahoma. As announced in January 2024, Canoo previously acquired substantially all of the new and like-new assets owned by Arrival Automotive USA, Inc. These assets were transported from Arrival's North Carolina facility and received at Canoo's Oklahoma facility where commissio

Justin, TX, March 11, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter and full year ended December 31, 2023 after market close on Monday, April 1, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period.  Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here.  Date: Monday, April 1, 2024 Time: 5:00 pm ET  U.S. Dial-in: 877-407-9169 International Dial-in: 201-493-6755  Access ID: 13744832  An audio replay of t

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Canoo to establish first European location in Bicester Motion allowing UK customers to experience and test drive Canoo's right-hand drive commercial electric vansCanoo's expansion poised to capitalize on the strong demand in the light commercial vehicle (LCV) market JUSTIN, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced the company's official launch into the United Kingdom market by establishing Canoo Technologies UK Limited, a new legal entity in the UK, marking a significant milestone in the company's global expansion strategy. Canoo has selected Bicester Motion, an iconic automotive campus, as a key loc

Justin, Texas, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), an advancing high-tech mobility company, today announced appointments of two leaders in electric mobility, public policy, clean energy, technology, and cybersecurity to the company's Board of Directors. The appointments of Ms. Deborah Diaz and Mr. James Chen are effective immediately."I'm excited to strengthen the board with the additions of Deborah and James," said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo. "As innovators and leaders, they will support Canoo and its team achieve our strategic growth objectives and increase our market penetration."Deborah B. Diaz previously served as former Chief T

JUSTIN, Texas, Aug. 28, 2023 /PRNewswire/ -- Canoo (NASDAQ:GOEV), a leading high-tech advanced mobility company, announced it has named current Board Member Greg Ethridge as Chief Financial Officer, succeeding Ken Manget.  Ethridge will report to Canoo Chairman and CEO, Tony Aquila.  This move is effective immediately, and Ethridge will assume responsibilities for capital markets, investor relations, accounting & financial reporting functions. Ethridge agrees to resign from Canoo's Board of Directors by the end of the year. "I am pleased to announce the appointment of Greg to 

JUSTIN, Texas, Jan. 26, 2023 /PRNewswire/ --  Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today named Ken Manget, Chief Financial Officer.  Reporting directly to Canoo Chairman and CEO, Tony Aquila, Manget will be responsible for Capital Markets, Investor Relations, Accounting & Financial Reporting. Ramesh Murthy, who served as interim CFO, will continue in his role as Senior Vice President, Finance and Chief Accounting Officer. "We are pleased to appoint Ken to Canoo's executive management team. We have worked together for many years, starting at Ontario

R. F. Lafferty downgraded Canoo from Buy to Hold

The Benchmark Company initiated coverage of Canoo with a rating of Buy and set a new price target of $5.00

Wedbush initiated coverage of Canoo with a rating of Outperform and set a new price target of $4.00

Stifel initiated coverage of Canoo with a rating of Buy and set a new price target of $4.00

ROTH Capital upgraded Canoo from Neutral to Buy and set a new price target of $14.00 from $9.00 previously

HC Wainwright & Co. initiated coverage of Canoo with a rating of Buy and set a new price target of $15.00

Roth Capital reiterated coverage of Canoo with a rating of Neutral and set a new price target of $7.00 from $10.00 previously

Roth Capital reiterated coverage of Canoo with a rating of Neutral and set a new price target of $10.00 from $7.00 previously

B of A Securities initiated coverage of Canoo with a rating of Underperform and set a new price target of $6.00

BofA Securities initiated coverage of Canoo with a rating of Underperform

-SEC Filing

Electric vehicle stocks fell across the board, with the decline mostly due to the broader market pullback this week. Tesla, Inc. (NASDAQ:TSLA) extended its weekly declines ahead of next week’s earnings release. Here’s a run down on what happened in the EV space during the week: Tesla Raises Prices: The not-so-successful price-cutting strategy has been discontinued at least for now, with Tesla announcing $2,000 price increases for all variants of the Model S and Model X EVs in U.S. this week. The prices of these models were also hiked in Canada. The company, however, is persisting with its incentives and liberal financing options. Tesla influencer Sawyer Merritt reported that Tesla has

Automotive stocks, including Canoo Inc (NASDAQ:GOEV), Lucid Group, Inc (NASDAQ:LCID), Polestar Automotive Holding UK (NASDAQ:PSNY), VinFast Auto (NASDAQ:VFS), and Workhorse Group, Inc (NASDAQ:WKHS), are trading lower Monday following China’s slower-than-expected second-quarter economic growth. The Chinese electric vehicle stocks also traded lower on Monday. The second-largest economy grew by 4.7% from April to June, falling short of the 5.1% forecast by analysts. The consumer sector faces challenges as retail sales growth hit an 18-month low due to deflationary pressures leading to price cuts on cars, food, and clothing. Slow retail sales growth, rising unemployment, and reduced

Most electric vehicle stocks advanced along with the broader market in the week that ended on July 12, catching up with market leader Tesla, Inc.’s (NASDAQ:TSLA) gain in the previous week. The Elon Musk-led company’s shares stumbled after a 11-session winning streak. Here are the key events that happened in the EV space during the week: See Also: Best Electric Vehicle Stocks Musk Tightlipped On Robotaxi Rumors: Tesla shares were going strong and completed a 11-session winning-streak on Wednesday but reversed course on Thursday, stung by a report that said the EV maker would push back the robotaxi launch event by two months. The stock fell over 8% during the session before recovering

Most electric vehicle stocks advanced in the week that ended on July 5, led by market leader Tesla, Inc. (NASDAQ:TSLA), with the broader market strength also contributing to the upside. Tesla shares are now in the green after the company reported better-than-feared deliveries. Here are the key events that happened in the EV space during the week: Tesla Knocks Off Lowered Number: After prolonged weakness, Tesla shares turned the corner, thanks to a second-quarter deliveries report that came in better than expectations. Analysts attributed the positive number to the lavish financing options facilitated by the company. Skeptics weren’t impressed as they pointed to the sharply lowered esti

Canoo (NASDAQ:GOEV) shares are trending on Wednesday. Over the past week, Canoo announced a definitive purchase agreement with Go2 Delivery, received multiple design awards, and joined the Russell 3000 index. What Happened: Mostly recently, Canoo signed the purchase agreement with Go2 Delivery. Under the agreement, Go2 Delivery agreed to buy five fully electric commercial delivery vans. Go2 Delivery plans to integrate these vehicles into their delivery fleet in order to decrease environmental impact and increase operational efficiency. The logistics solutions company could purchase up to 85 additional vans. Separately, on July 1, Canoo joined the Russel 3000 index, the small-cap Rus

The company selected Canoo's LDVs to accelerate its commitment to becoming the leading carbon-free logistics company to meet the last mile and other delivery transportation needs of its customers in Virginia and the Chesapeake Bay area.

 Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has officially joined the broad-market Russell 3000® Index, the small-cap Russell 2000® Index and the Russell Microcap® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets today.

The electric-vehicle space saw a major deal this week, which, along with the broader market strength, imparted some buoyancy. However, stocks closed the week on a mixed note. Here are the key events that happened in the EV space during the week: Can Tesla Clear Lowered Bar? Tesla, Inc. (NASDAQ:TSLA) investors will be on pins and needles, as the company prepares to release its second-quarter deliveries, most likely on Tuesday. Future Fund’s Gary Black said he sees a decent chance of upside surprise given the muted expectations. He noted that the consensus calls for a 6% year-over-year decline in deliveries to 440,000 units, while whisper numbers are around 420,000 units. The fund ma

Canoo Inc. (NASDAQ:GOEV) shares are trading higher Wednesday. Here’s what you need to know. What’s Going On: Early this week a report came out that the company recently bolstered its production capabilities with the acquisition of advanced manufacturing assets at its Oklahoma City facility. Obtained from Arrival Automotive UK Ltd., these assets include state-of-the-art robots and comprehensive production infrastructure aimed at ramping up cabin line production volumes starting in 2025. This strategic move is expected to streamline Canoo’s production processes, leading to reduced lead times, enhanced scalability and lower operational costs per unit. Canoo’s Oklahoma City facility