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REE Automotive (REE) investor relations material
REE Automotive Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved significant technology milestones in 2024, including first FMVSS certification for a full-by-wire vehicle in the U.S. and successful autonomous runway drive with Airbus.
Launched REE AI Cloud with Geotab, opening new software revenue opportunities and advancing a transition to a subscription-based model.
Commercial launch of software-defined vehicle (SDV) technology in 2024, with nearly $1 billion in reservations and strong OEM and tech company engagement.
Temporarily paused vehicle production due to U.S. tariffs, macroeconomic uncertainty, and supply chain disruptions, shifting focus to software, licensing, and cost reduction.
Raised new equity capital in March 2025 and implemented significant cost reductions to ensure long-term viability.
Financial highlights
Liquidity improved to $72.3 million at year-end 2024, including an $18 million credit facility, driven by $60 million in new securities offerings.
Additional $36.5 million raised in Q1 2025; Q1 2025 cash balance (excluding credit facility) was $61 million.
Full-year 2024 GAAP net loss was $111.8 million, a slight improvement from $114.2 million in 2023; non-GAAP net loss improved to $70.3 million from $98.3 million.
Q4 2024 GAAP net loss was $37.3 million, with non-GAAP net loss at $19.8 million.
Free cash flow burn narrowed year-over-year due to operational efficiencies and near completion of P7 R&D.
Outlook and guidance
Substantial doubt exists about ability to continue as a going concern for the next 12 months due to macroeconomic, tariff, and industry challenges.
Plans to alleviate concerns include pausing production, significant cost reductions, and headcount adjustments.
Targeting reduction of monthly operating expenses from $5–$6 million to $3–$4 million by year-end 2025.
Focused on generating near- and long-term software revenue and advancing licensing and subscription-based models.
Intends to pursue licensing and partnership models for growth while maintaining production as a long-term goal.
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