REE - REE Automotive Non-GAAP EPS of -$0.07 beats by $0.04

2023-03-16 09:46:27 ET

• REE Automotive press release ( NASDAQ: REE ): Q4 Non-GAAP EPS of -$0.07 beats by $0.04 .
• The company expects to begin deliveries to customers in 4Q23 and targets COGS breakeven in the low hundreds of vehicles and adjusted EBITDA breakeven in the low thousands of vehicles.
• "As we look to 2023 and beyond, we have further important milestones to achieve, including the completion of certification activities, the delivery of initial vehicles, the successful completion of the fleet testing phase which we expect will lead to the receipt of additional orders. Building on the track record we established during the challenging environment in 2022, as a result of the hard work and commitment of our talented teams around the world, we will remain disciplined and focused and believe we will be able to reach our targets with significantly lower non-GAAP operating expenses of $70-75m for 2023 compared to 2022," Daniel Barel, REE’s co-founder and CEO.

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