ARVL - Arrival reports Q4 and FY22 preliminary numbers

2023-03-09 08:13:48 ET

• Arrival ( NASDAQ: ARVL ) reports Q4 preliminary loss of $588 - $597 million, including non-cash impairment charges and write-offs of approximately $406 million.
• Q4 Adjusted EBITDA loss of $162 - $172 million against $85 million in 4Q21. The increase quarter over quarter is due to an increase in the amount of salaries and contractor costs not capitalized in Q4 2022.
• Q4 Capex, including tangible and intangible purchases, of $25 million, compared to $104 million in prior year quarter.
• In Q4, the cash balance reduced by $126 million to $205 million. Cash balance spend of $104 million was related to working capital, repayment on interest on loans and lease liabilities of $11 million, capex spend and other operational expenses.
• The company expects FY22 loss of $998 - $1,008 million compared to a loss of $1,304 million in 2021.
• Press Release

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