Similar companies
Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 890,000 | 47.3% |
| Gross Profit | 720,000 | 158.1% |
| Cost of Revenue | 170,000 | 90.8% |
| Operating expense | 57M | 47.6% |
| Net Income | 3.3M | 165.7% |
| EBITDA | -59M | 131437.8% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 523M | 3.7% |
| Total Liabilities | 301M | 13.2% |
| Total Equity | 222M | 13.1% |
| Shares Outstanding | 87M | 19.6% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -27M | 26.1% |
| Cash from investing | -2.8M | 40.4% |
| Cash from financing | 26M | 32.1% |
EPS
Financial Highlights for Canoo in Q3 '24
Canoo reported a revenue of 890,000, which is a 47.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 720,000, marking a 158.1% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 170,000, a -90.8% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 57M, showing a 47.6% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 3.3M, showing a 165.7% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -59M, showing a -131437.8% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Canoo with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
