REE Automotive Ltd.

For full year 2024, GAAP net loss was $111.8 million versus $114.2 million in 2023, while non-GAAP net loss improved to $70.3 million from $98.3 million. In Q4 2024, GAAP net loss was $37.3 million compared with $38.5 million in Q3 2024 and $35.2 million in Q4 2023; non-GAAP net loss was $19.8 million versus $16.8 million in Q3 and $32.2 million in Q4 2023. The company said liquidity ended 2024 at $72 million including an $18 million credit facility, and expected Q1 2025 cash and cash equivalents of approximately $79.6 million including an $80 million credit facility. Guidance-wise, management did not give revenue or production timing guidance because production is paused; instead it said operating expenses were previously communicated at about $6 million a month and are expected to fall to $3 million to $4 million by the end of the year.

Daniel Barel framed 2024 as proof that REE’s technology is real and market-validated, citing certifications, the Airbus runway milestone, and customer interest in the SDV platform. His tone was upbeat on technology progress but cautious on operations, saying tariffs and trade policy made it prudent to temporarily pause production and focus on what the company can control. He emphasized a strategic pivot toward software, licensing, and partnerships as a less capital-intensive path to growth.

Hai Aviv emphasized that liquidity improved to $72 million at year-end, including an $18 million credit facility, helped by registered offerings that brought in about $60 million in gross proceeds in 2024 and another $36.5 million in Q1 2025. He said the full-year GAAP net loss was $111.8 million and non-GAAP net loss was $70.3 million, with improvements driven by lower engineering and R&D expense and operating efficiencies. He also warned that management now sees substantial doubt about the company’s ability to continue as a going concern over the next 12 months due to macro and tariff-related disruption, and said immediate actions include a production pause, headcount adjustments, and lower operating spend.

Analyst Poe Fratt focused on whether the nonbinding MoU could still convert on schedule, how the production pause might affect reservations and revenue timing, and what the starting point is for cost cuts. Management said it does not see a change in the MoU timeline and has already begun receiving payments for services, while also saying the company believes the roughly $1 billion in reservations, including binding orders and capacity reservations, still shows strong demand. On cost, management said operating expenses had been expected at about $6 million a month and are targeted to come down to $3 million to $4 million by year-end; on revenue, it said it is too early to give a resumption or delivery timeline because production is paused.