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Earnings Announcements

Arrival’S Third Quarter 2022 Business Update

Published: 11/08/2022 13:01 GMT
Arrival (ARVL) - Arrival’s Third Quarter 2022 Business Update.
Qtrly Loss of $310.3 Million.
Board Considered That Company Does Not Currently Have Cash on Hand to Fund Operations for Coming Twelve Months.
Extend Runway of $330 Million Cash on Hand by Restructuring Business to Reduce Costs.
As of September 30, 2022, Company Had Existing Cash and Cash Equivalents of Approximately $330 Million.
Expects to End Year With Between $160 Million and $200 Million of Cash.
Board Considered That Material Uncertainties About Going Concern Remain After Consideration of Mitigating Actions.
Existing Cash and Cash Equivalents Not Sufficient to Cover Twelve Months of Operations.
Board Further Considered That Company is Exploring All Funding and Strategic Opportunities to Obtain This Necessary Funding.
Arrival - Cannot Make Margin on L Van Given High Cost of Parts Associated With Being on Low-volume Tooling, Lack of Funds to Finance Hard Tooling.
Expects Cash on Hand to Fund Business Into Q3 of 2023.
Revenue is expected to be $0 Million
Adjusted EPS is expected to be -$0.18

Next Quarter Revenue Guidance is expected to be $0 Million
Next Quarter EPS Guidance is expected to be -$0.12

More details on our Analysts Page.