REE Automotive .(US:REE) Globenewswire·2025-04-28 13:15Core Viewpoint - REE Automotive Ltd. is poised for significant growth in 2025 with the expected delivery of its first software-defined vehicle (SDV), the P7-C, and has seen strong market validation with reservations nearing $1 billion [3][4]. Business Highlights - 2024 was a pivotal year for REE, marking the commencement of production for the P7-C, the first FMVSS-certified full by-wire commercial vehicle in the U.S., with deliveries anticipated in the first half of 2025 [3][4]. - The company has increased reservations to nearly $1 billion, indicating strong demand for its SDV technology [8]. - Collaborations with Motherson Group and Roush Industries are expected to enhance REE's supply chain and delivery capabilities for SDVs [8]. - A memorandum of understanding (MOU) has been signed with a leading technology company to expand REE's access to the global autonomous transportation market [8]. - REE has achieved significant technology milestones, including FMVSS certification and the completion of its first autonomous drive with Airbus UpNext [8]. Financial Results - As of December 31, 2024, REE expects to report $72.3 million in cash and short-term investments, down from $85.6 million in 2023 [9]. - The anticipated GAAP net loss for 2024 is $111.8 million, or $7.01 loss per share, an improvement from a net loss of $114.2 million, or $11.32 loss per share, in 2023 [9]. - The expected fourth-quarter 2024 GAAP net loss is $37.3 million, or $1.51 loss per share, compared to $38.5 million in Q3 2024 and $35.2 million in Q4 2023 [9]. Upcoming Events - The company will reschedule the release of its fourth-quarter and fiscal year 2024 financial results to May 15, 2025, before market opening [10]. - A conference call will be held on the same day at 8:30 a.m. ET to discuss financial results and recent developments [10].