REE Automotive Posts Wider Loss In Q3 - Quick Facts

REE Automotive

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(RTTNews) - REE Automotive Ltd. (REE) posted a third quarter net loss of $38.5 million compared to a loss of $24.1 million, a year ago. Net loss per share was $2.56 comapred to a loss of $2.39. Non-GAAP net loss was $16.82 million compared to a loss of $20.12 million, last year. Non-GAAP net loss per share was $1.12 compared to a loss of $1.99. Revenues were $11 thousand comapred to $210 thousand, last year.

"Reservations more than doubled QoQ to $137 million and we continue to see strong and growing demand for REE's technology and products. We are observing robust interest across the value chain, from fleet owners to vehicle OEMS. On the fleet side, we are seeing fleets reserving priority production for P7 electric trucks over several years," said Daniel Barel, co-founder and CEO of REE.

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