Arrival Expects Cash on Hand to Fund the Business Into Q3 of 2023

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Arrival Expects Cash on Hand to Fund the Business Into Q3 of 2023

Seeking Alpha2022-11-08

Arrival Q3 loss for the period of $310.3 million, compared to a loss for the period of $30.6 million in the third quarter of 2021.
Adjusted EBITDA loss for the period of $73.3 million, compared to an adjusted EBITDA loss of $45.9 million in the third quarter of 2021.
Cash and cash equivalents of approximately $330 million as of September 30, 2022
Extend the runway of $330 million cash on hand by restructuring the business to reduce costs.
Outlook: Arrival expects to end the year with between $160M and $200M of cash. Expectations for ending cash includes approximately $35M in Q4 for severance and retention related costs, and approximately $40M for other restructuring costs.
The Company expects cash on hand to fund the business into Q3 of 2023.
Limited resources and the attractive opportunities of the US market makes developing US products the best use of capital, but this means revenues and margins will come later; not in 2023.

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