REE

Financial Results Announcement: REE Automotive Ltd. will report its fourth-quarter and fiscal year 2024 financial results on April 29, 2025, with a conference call scheduled for 8:30 a.m. ET to discuss the results and answer investor questions.

Company Overview: REE Automotive specializes in software-defined electric vehicles, leveraging proprietary technology to enhance vehicle performance and safety, with plans to deliver its flagship P7-C electric truck in the first half of 2025.

Securities Purchase Agreement: REE Automotive has entered into agreements with strategic investors to sell 2.22 million ordinary shares at $4.25 each, aiming for gross proceeds of approximately $9.4 million, with the closing expected around March 27, 2025.

Market Reaction: Following the announcement, REE Automotive's shares fell by over 6.5% in afternoon trading.

Stock Offering Announcement: REE Automotive Ltd. shares dropped 34% after announcing a $27 million registered direct offering, pricing 6,376,631 shares at $4.25 each for working capital and corporate purposes.

Partnership for Autonomous Vehicles: The company entered a non-binding MOU with a global tech firm to develop autonomous vehicles based on its P7 platform, potentially generating up to $770 million in revenue over five years if finalized by the end of 2025.

Investment Announcement: REE Automotive Ltd. has entered into securities purchase agreements for the sale of 6,376,631 ordinary shares at $4.25 each, aiming to raise approximately $27 million for working capital and corporate purposes, with an initial closing expected on March 19, 2025.

Company Overview: REE Automotive is focused on developing software-defined vehicles (SDVs) and plans to deliver its flagship P7-C electric truck in the first half of 2025, leveraging partnerships with major automotive suppliers like Motherson Group to enhance production capabilities.

Collaboration Agreement: REE Automotive has entered a non-binding MOU with a global tech company to develop thousands of autonomous vehicles using its P7 platform, aiming for a definitive collaboration agreement by 2025 and production start in 2027.

Revenue Projections: The partnership is expected to generate up to $770 million in revenue by 2030, with software and services revenue anticipated to begin in the second half of 2025.

REE Automotive at Work Truck Week: REE Automotive will showcase its first U.S.-certified full-by-wire electric truck, the P7-C, at the National Truck and Equipment Association's Work Truck Week from March 4-7, 2025, offering attendees ride-and-drive experiences and insights into advanced vehicle technology.

Incentives and Data Collaboration: The P7-C has received California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project approval, providing up to $60,000 in incentives for fleets, while REE collaborates with Geotab to enhance data analytics for fleet management through its software-defined vehicles.

REE Automotive Exhibition: REE Automotive will showcase its software-defined P7-C electric truck at the National Truck and Equipment Association’s Work Truck Week from March 4-7, 2025, allowing attendees to demo drive the first U.S.-certified, fully by-wire vehicle.

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Policy Discussion on Autonomous Vehicles: eMobility Analyst Irwin and former DOT Assistant Secretary Marianne McInerney will discuss strategies to promote the adoption of autonomous vehicles, with a focus on fleet electric vehicles in commercial trucking during an upcoming conference call on January 31.

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Company Participation in Conference: REE Automotive Ltd. will participate in the 27th Annual Needham Growth Conference on January 14, 2025, where company leaders will discuss their software-defined vehicle technology and future goals.

Innovative Technology Overview: REE Automotive specializes in modular electric vehicle platforms featuring their patented REEcorner technology, which integrates essential vehicle components into a compact module, enabling flexible design and efficient production of electric vehicles.

Q3 Results and Future Outlook: Ree Automotive reported strong Q3 results, with a significant increase in customer orders by 230% to $137M, and plans to begin commercial sales in the second half of 2025 supported by new production and servicing infrastructure.

Analyst Recommendations: H.C. Wainwright maintains a Buy rating on REE shares with a price target of $15, projecting delivery of 90-100 vehicles in late 2025 as the company enhances its supply chain and financing access.

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Earnings Conference Call Overview: REE Automotive held its Q3 2024 earnings conference call on December 17, 2024, featuring key executives discussing the company's financial results and future projections.

Forward-Looking Statements: Management highlighted expectations for increased demand for their products, plans to deliver production trucks in North America, and aims to achieve breakeven in bill-of-materials by the second half of next year, while acknowledging potential risks and uncertainties.

Surge in Demand: REE Automotive has seen a 230% increase in reservations, reaching $137 million, and is progressing with the production of its P7 medium-duty electric truck, targeting first deliveries in H1 2025.

Financial Improvements: The company reported a 47% increase in liquidity to $88.8 million and secured up to $65 million in funding, while narrowing its free cash flow burn by 15% year-over-year.

Financial Performance: REE Automotive Ltd. reported a third quarter net loss of $38.5 million, an increase from a loss of $24.1 million the previous year, with revenues dropping to $11 thousand from $210 thousand.

Growing Demand: The company saw reservations more than double quarter-over-quarter to $137 million, indicating strong demand for its technology and products, particularly in the electric truck sector.

Earnings Reports: Worthington Enterprises is expected to report earnings of 52 cents per share, while Applied Digital Corporation anticipates a loss of 34 cents per share. Compass Minerals and Red Cat Holdings reported disappointing results, leading to significant drops in their stock prices.

Market Reactions: REE Automotive shares rose 7.2% despite expectations of a quarterly loss, while other companies like Compass Minerals and Red Cat Holdings saw declines of 7.3% and 15.8%, respectively, in after-hours trading.

Market Sentiment and Stock Performance: The CNN Money Fear and Greed index improved to the "Greed" zone, while U.S. stocks showed mixed results; the Dow Jones fell for the eighth consecutive session, but the Nasdaq reached a record high with major tech stocks like Apple, Alphabet, and Tesla hitting all-time highs.

Economic Indicators: The NY Empire State Manufacturing Index dropped significantly, while the S&P Global services PMI increased; most sectors on the S&P 500 ended negatively, except for consumer discretionary and communication services which saw gains.

Upcoming Financial Results Announcement: REE Automotive Ltd. will report its third quarter 2024 financial results on December 17, 2024, with a conference call scheduled for 8:30 a.m. ET to discuss the results and recent events.

Company Overview: REE Automotive specializes in electric vehicle technology, offering modular platforms that integrate essential components into compact modules, enabling flexible vehicle designs and efficient production processes.

New Appointments at REE Automotive: REE Automotive has appointed Rajesh Goel from Motherson Group to its board of directors and welcomed back Hai Aviv as Chief Financial Officer to support its North American expansion, effective November 15, 2024.

Strategic Focus on Electric Vehicles: The appointments aim to enhance REE's production strategy for electric trucks amid rising demand, with both leaders expressing commitment to advancing the company's mission in the evolving electric vehicle industry.

Earnings Performance: Cummins Inc. reported third-quarter 2024 earnings of $5.60 per share, exceeding expectations and showing an increase from $4.73 in the same quarter of 2023, with total revenues reaching $8.46 billion, slightly up from $8.43 billion year-over-year.

Segment Analysis: The Engine segment saw a 1% decline in sales, while the Distribution segment grew by 16%. The Power Systems segment experienced a 17% increase in sales, driven by strong demand, although the Components segment faced a 16% drop due to lower heavy-duty truck demand.

Upcoming Events: REE Automotive's CEO Daniel Barel will speak at the Reuters Automotive USA event in Detroit from October 21-23, while COO Josh Tech will present at the LD Micro Main Event in Los Angeles from October 28-30.

Company Overview: REE Automotive specializes in electric vehicle technology, offering modular platforms that integrate essential components into compact modules, enabling flexible vehicle designs and efficient production.