Where Will Canoo Stock Be in 1 Year?
The very first bullet point in Canoo's (NASDAQ: GOEV) third-quarter 2023 earnings release stated that the electric vehicle (EV) company had reached the "accelerating revenue generation phase." That sounds great, and if you look at the income statement, it is clearly true. But there's still one small nuance to consider if you examine the company's 10-Q filing.
In the third quarter of 2023, Canoo generated $519,000 of revenue, compared to zero in the prior year period. In fact, if you look back through the company's short history (it went public through a merger with a special purpose acquisition company in December 2020), the third quarter of 2023 was the first time it generated any revenue at all.
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Source Fool.com
