REE Automotive Provides 2024 Business Update; Reschedules The Release Date Of Its Q4 And FY24 Financial Results To Before The Market Opens On Thursday, May 15, 2025; Sees Q4 EPS $(1.51) Up From $(3.44) YoY

Author: Benzinga Newsdesk | April 28, 2025 08:24am

Q4 and 2024 Year-End Preliminary Unaudited Select Financial Results

• Expected $72.3 million in cash & cash equivalents and short-term investments as of December 31, 2024 (inclusive of a $18 million credit facility) compared to $85.6 million in cash & cash equivalents and short-term investments as of December 31, 2023 (inclusive of a $15 million credit facility).
• Expected U.S. Generally Accepted Accounting Principles (GAAP) net loss in 2024 of $111.8 million, or $7.01 loss per share, compared to $114.2 million, $11.32 loss per share, in 2023.
• Expected fourth quarter 2024 GAAP net loss of $37.3 million, or $1.51 loss per share, compared to $38.5 million, or $2.56 loss per share, in Q3 2024 and $35.2 million, or $3.44 loss per share, in Q4 2023.
  
   

The preliminary results presented reflect the Company's estimates based solely upon information available, and the Company's final results could differ from these estimates due to the completion of the Company's financial closing procedures, final adjustments and other developments that may arise between now and the time such audited consolidated financial statements for the year ended December 31, 2024 are issued. The Company expects to release the fully audited 2024 financial statements on or before May 15, 2025.

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