Announcement • May 03
REE Automotive Ltd. announced delayed 20-F filing On 05/01/2026, REE Automotive Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Jan 29
REE Automotive Ltd. Announces Departure of Joshua Tech as Chief Operating Officer, Effective February 2026 REE Automotive Ltd. announced that after almost four years with the Company, Mr. Joshua Tech, Chief Operating Officer, will be leaving the Company. Mr. Tech will continue in his role as the Company's Chief Operating Officer until his departure in February 2026. Mr. Tech's resignation was not related to any disagreement with the Company on any matter relating to its operations, policies or practices. The board of directors of the Company and the Company are grateful to Mr. Tech for his guidance and contributions in connection with multiple strategic initiatives that advanced the Company's strategic objectives ovecr his tenure. New Risk • Jan 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$89m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$89m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m (US$207k revenue). Minor Risk Market cap is less than US$100m (US$22.4m market cap). Announcement • Jan 07
REE Automotive Ltd. Announces Board Changes REE Automotive Ltd. announced that Hicham Abdessamad has been appointed Chairman of its Board of Directors, effective December 22, 2025. Mr. Abdessamad succeeds Carlton Rose, who has served as Chairman of the Board since 2023. Mr. Rose will continue to serve as a member of REE’s Board of Directors following the transition of the Chair role to Mr. Abdessamad. Mr. Abdessamad has served on REE’s Board of Directors since March 29, 2023. He brings deep strategic leadership and extensive experience in software and digital transformation, advanced mobility technologies, and global business growth. Mr. Abdessamad served as Chairman and CEO of Hitachi America Ltd., where he oversaw the growth objectives of Hitachi’s North America business across key sectors including digital, energy, and innovation.
Carlton Rose will continue to serve as a member of REE’s Board of Directors. During his tenure as Chairman, Mr. Rose provided steadfast leadership through key strategic milestones for the company, bringing a wealth of experience and knowledge in commercial vehicle and fleet operations. New Risk • Jan 06
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$100m Forecast net loss in 2 years: US$33m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m (US$207k revenue). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$89m). Currently unprofitable and not forecast to become profitable over next 2 years (US$33m net loss in 2 years). Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (US$20.8m market cap). Announcement • Dec 16
REE Automotive Ltd., Annual General Meeting, Jan 22, 2026 REE Automotive Ltd., Annual General Meeting, Jan 22, 2026. Location: kibbutz glil-yam, Israel New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (US$183k revenue). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (US$13m net loss in 3 years). Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (US$25.6m market cap). New Risk • Nov 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (US$183k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$13m net loss in 3 years). Market cap is less than US$100m (US$25.6m market cap). New Risk • Sep 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (US$183k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$13m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$20.8m market cap). Price Target Changed • Jul 30
Price target decreased by 84% to US$2.00 Down from US$12.38, the current price target is an average from 2 analysts. New target price is 198% above last closing price of US$0.67. Stock is down 82% over the past year. The company is forecast to post a net loss per share of US$2.37 next year compared to a net loss per share of US$7.01 last year. Breakeven Date Change • Jul 30
No longer forecast to breakeven The 2 analysts covering REE Automotive no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$33.4m in 2027. New consensus forecast suggests the company will make a loss of US$12.6m in 2027. Announcement • May 01
REE Automotive Ltd. announced delayed 20-F filing On 04/30/2025, REE Automotive Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Price Target Changed • Apr 30
Price target decreased by 7.3% to US$13.67 Down from US$14.75, the current price target is an average from 3 analysts. New target price is 390% above last closing price of US$2.79. Stock is down 31% over the past year. The company is forecast to post a net loss per share of US$6.79 next year compared to a net loss per share of US$11.32 last year. Announcement • Mar 28
REE Automotive Ltd. to Report Q4, 2024 Results on Apr 29, 2025 REE Automotive Ltd. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Apr 29, 2025 New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$83.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 5.5% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (US$626k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$147m net loss in 3 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (US$83.0m market cap). Announcement • Mar 19
REE Automotive Ltd. has filed a Follow-on Equity Offering in the amount of $27.100682 million. REE Automotive Ltd. has filed a Follow-on Equity Offering in the amount of $27.100682 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,376,631
Price\Range: $4.25
Discount Per Security: $0.34
Transaction Features: Registered Direct Offering New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$81m free cash flow). Earnings are forecast to decline by an average of 5.5% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Revenue is less than US$1m (US$626k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$147m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Jan 23
REE Automotive Ltd., Annual General Meeting, Mar 06, 2025 REE Automotive Ltd., Annual General Meeting, Mar 06, 2025. Location: kibbutz glil-yam., Israel Major Estimate Revision • Jan 17
Consensus EPS estimates fall by 28% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -US$4.81 to -US$6.16 per share. Revenue forecast of US$200.0k unchanged since last update. Auto Components industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$17.33 unchanged from last update. Share price rose 4.3% to US$8.80 over the past week. Major Estimate Revision • Dec 24
Consensus revenue estimates decrease by 34%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$270.0k to US$180.0k. EPS estimate increased from -US$4.87 to -US$4.81 per share. Auto Components industry in the US expected to see average net income growth of 18% next year. Consensus price target up from US$13.50 to US$15.67. Share price fell 13% to US$8.29 over the past week. New Risk • Dec 23
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$81m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$81m free cash flow). Shareholders have been substantially diluted in the past year (121% increase in shares outstanding). Revenue is less than US$1m (US$626k revenue). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Reported Earnings • Dec 18
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$2.56 loss per share (further deteriorated from US$2.39 loss in 3Q 2023). Net loss: US$38.5m (loss widened 59% from 3Q 2023). Revenue missed analyst estimates by 78%. Earnings per share (EPS) also missed analyst estimates by 142%. Revenue is forecast to grow 54% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Auto Components industry in the US. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Announcement • Nov 19
REE Automotive Ltd. to Report Q3, 2024 Results on Dec 17, 2024 REE Automotive Ltd. announced that they will report Q3, 2024 results Pre-Market on Dec 17, 2024 Major Estimate Revision • Oct 03
Consensus revenue estimates decrease by 98%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$12.1m to US$270.0k. EPS estimate increased from -US$7.33 to -US$4.87 per share. Auto Components industry in the US expected to see average net income growth of 20% next year. Consensus price target of US$13.50 unchanged from last update. Share price rose 26% to US$7.79 over the past week. Breakeven Date Change • Sep 30
No longer forecast to breakeven The 3 analysts covering REE Automotive no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$10.9m in 2026. New consensus forecast suggests the company will make a loss of US$885.5k in 2026. Announcement • Sep 27
Samvardhana Motherson Engages in Discussions with REE Automotive On September 26, 2024, Samvardhana Motherson International Limited announced that currently it is in discussions with REE Automotive Ltd regarding the designation of an individual by it for appointment to the Board and the nomination of such individual at future Annual General Meetings of Shareholders of the Company for election to the Board. New Risk • Sep 26
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: US$825k This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (123% increase in shares outstanding). Revenue is less than US$1m (US$825k revenue). New Risk • Sep 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 126% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (126% increase in shares outstanding). Minor Risk Revenue is less than US$5m (US$1.8m revenue). Announcement • Sep 18
REE Automotive Ltd. to Report Q2, 2024 Results on Sep 26, 2024 REE Automotive Ltd. announced that they will report Q2, 2024 results Pre-Market on Sep 26, 2024 New Risk • Sep 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$87m). Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (US$1.8m revenue). Market cap is less than US$100m (US$39.8m market cap). New Risk • Jun 04
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$87m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$87m). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (33% increase in shares outstanding). Revenue is less than US$5m (US$1.8m revenue). Market cap is less than US$100m (US$47.3m market cap). Major Estimate Revision • Jun 02
Consensus revenue estimates increase by 15% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$14.2m to US$16.4m. Forecast losses expected to reduce from -US$7.46 to -US$6.92 per share. Auto Components industry in the US expected to see average net income growth of 27% next year. Consensus price target of US$13.50 unchanged from last update. Share price fell 13% to US$4.32 over the past week. Announcement • May 22
REE Unveils a Next Gen Software-Driven Electric Commercial Vehicle Platform Designed with Leading Delivery Fleet REE Automotive Ltd. revealed the next generation of its P7-S stripped chassis at ACT Expo in Las Vegas. The P7-S is on display for fleets and OEMs in REE’s booth #3723. The class 5 chassis was created in collaboration with a leading delivery fleet, designed to increase delivery efficiencies and improve fleet management. Customer delivery of the first next-gen P7-S demo will take place in June 2024. P7-S utilizes the P7 REEcorners, making it a full by-wire chassis, and is part of the P7 program that allows for flexibility in dimensions and ultimate design freedom for fleets and body builders to develop their own purpose-built EVs such as step-vans, box trucks and vocational-specific electric vehicles. The P7-S is a full by-wire EV with both front and rear cabin configuration boosting fleet utilization and OEM compatibility. By using the P7 REEcorners, the P7-S shares service and operational similarities with the P7-C which are designed to improve total cost of ownership (TCO) and spare-parts inventory management. In addition to the P7-S stripped chassis, REE offers a certified P7-C chassis cab that is eligible for U.S. federal tax credits and when combined with state incentives could reach up to $100,000 per vehicle. The current Powered by REE lineup offers three ways for OEM and fleet owners to upgrade existing EVs to full by-wire, software driven technology; by incorporating REEcorners into their vehicles, building an electric truck on the P7-S stripped chassis, or ordering a certified P7-C cab chassis. All options allow fleets and OEMs to reduce their time to market while still allowing for a made-to-order product rather than an off-the-shelf truck. Due to the modularity and scalability enabled by REEcorners, P7-S can be customized to meet the customer need including class (4-5), driver position, batteries, wheelbase and rear overhang. P7-S Available Specifications: Gross vehicle weight rating (GVWR): Class 4 (16,000 lbs) or Class 5 (18,300 lbs), Length: 234 to 341 inches, Track width: 83.1 inches, Wheelbase: 157.5 to 236.2 inches, Battery: 84-168 kWh, Range: up to 210 miles, Platform height: 24 inches, Payload: up to 10,000 lbs, Turning diameter: min 39 ft. Announcement • May 19
REE Automotive Ltd. to Report Q1, 2024 Results on May 30, 2024 REE Automotive Ltd. announced that they will report Q1, 2024 results Pre-Market on May 30, 2024 Major Estimate Revision • Apr 09
Consensus revenue estimates increase by 26% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$14.9m to US$18.8m. Forecast losses expected to reduce from -US$7.97 to -US$7.40 per share. Auto Components industry in the US expected to see average net income growth of 22% next year. Consensus price target of US$13.33 unchanged from last update. Share price fell 21% to US$4.59 over the past week. Major Estimate Revision • Apr 03
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$17.2m to US$14.9m. Forecast losses increased from -US$6.76 to -US$7.97 per share. Auto Components industry in the US expected to see average net income growth of 22% next year. Consensus price target up from US$11.76 to US$13.33. Share price fell 11% to US$5.20 over the past week. Breakeven Date Change • Mar 25
Forecast to breakeven in 2026 The 4 analysts covering REE Automotive expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$12.0m in 2026. Average annual earnings growth of 47% is required to achieve expected profit on schedule. Announcement • Mar 23
REE Automotive Ltd. to Report Q4, 2023 Results on Mar 27, 2024 REE Automotive Ltd. announced that they will report Q4, 2023 results After-Market on Mar 27, 2024 Announcement • Mar 01
REE Automotive Ltd. has filed a Follow-on Equity Offering. REE Automotive Ltd. has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock Announcement • Jan 11
REE Automotive Ltd. Begins Customer Deliveries of its P7-C Electric Truck REE Automotive Ltd. announced that it has begun customer deliveries of its P7-C electric chassis cab following Federal Motor Vehicle Safety Standards (FMVSS) and Environmental Protection Agency (EPA) certification, making it the first to certify a fully x-by-wire vehicle. Benefits of REE's proprietary REEcorner and x-by-wire technology can enable: Superior maneuverability and volumetric efficiency; Enhanced safety with fail operational design via redundancies in hardware and software; Improved ergonomics with low step-in height and driver-centric cabin; Improved serviceability; More efficient maintenance and lower spare part inventory management; Improved residual value; Future-proofed, autonomous-ready and OTA upgrade capable; Modular design and quick time to market; Optimal energy efficiency. Price Target Changed • Dec 19
Price target increased by 18% to US$9.30 Up from US$7.88, the current price target is an average from 5 analysts. New target price is 80% above last closing price of US$5.16. Stock is down 53% over the past year. The company is forecast to post a net loss per share of US$4.19 next year compared to a net loss per share of US$10.98 last year. Announcement • Dec 13
REE Automotive Ltd. announced that it has received $8.75 million in funding On December 12, 2023, REE Automotive Ltd. closed the transaction. The company amended the terms of the transaction and issued 10% convertible promissory notes in the principal amount of $8,750,000 and warrants to purchase up to an aggregate of 1,571,710 of the Registrant’s Class A ordinary shares. The transaction included participation from 3 investors. Major Estimate Revision • Dec 07
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from US$2.22m to US$2.61m. Forecast losses expected to reduce from -US$29.84 to -US$2.16 per share. Auto Components industry in the US expected to see average net income growth of 26% next year. Consensus price target up from US$7.88 to US$8.38. Share price fell 31% to US$4.69 over the past week. Announcement • Nov 29
REE Automotive Ltd. announced that it expects to receive $8 million in funding REE Automotive Ltd. announced that it has entered into a Securities Purchase Agreement with with certain investors to issue and sell 10% convertible promissory notes in the principal amount of $8,000,000 and warrants to purchase up to an aggregate of 1,571,710 of the Registrant’s Class A ordinary shares on November 27, 2023. The securities described herein have not been registered under the Securities Act of 1933, as amended, and may not be sold in the United States absent registration or an applicable exemption from the registration requirements. The Registrant has agreed to file a registration statement with the Securities and Exchange Commission to register the resale of the ordinary shares issuable upon conversion of the notes and the ordinary shares underlying the warrants within thirty business days of the closing. The notes will have a term of five years and bears 10% interest and are convertible into ordinary shares at a conversion price of $5.09 per share. The investor desires to purchase the note and the warrant on the terms and conditions set forth in this agreement pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulation D thereunder. The conversion price of the notes is subject to customary adjustments, and the notes contain customary anti-dilution protections in the event of certain equity issuances by the Registrant at a price less than the conversion price then in effect. The warrants will be immediately exercisable at an exercise price of $4.42 per ordinary share and will have a term of five years from the date of issuance. Announcement • Nov 23
REE Automotive Ltd. to Report Q3, 2023 Results on Nov 30, 2023 REE Automotive Ltd. announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on Nov 30, 2023 Announcement • Nov 02
REE Automotive Regains Compliance with Nasdaq Minimum Bid Price Requirement REE Automotive Ltd. received a notification letter from Nasdaq Listing Qualifications staff notifying the company that it had regained compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rule 5550(a)(2). The notification letter confirmed that REE maintained a closing bid price at or greater than $1.00 per ordinary share for the last 10 consecutive business days from October 18, 2023 to October 31, 2023 and that the company has regained compliance with the Nasdaq Capital Market Minimum Bid Price Requirement. Major Estimate Revision • Oct 20
Consensus EPS estimates upgraded to US$6.71 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$9.70 to -US$6.71 per share. Revenue forecast unchanged from US$2.22m at last update. Auto Components industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$27.38 to US$24.38. Share price fell 25% to US$2.97 over the past week. Price Target Changed • Oct 19
Price target decreased by 13% to US$24.38 Down from US$28.13, the current price target is an average from 4 analysts. New target price is 652% above last closing price of US$3.24. Stock is down 82% over the past year. The company is forecast to post a net loss per share of US$6.71 next year compared to a net loss per share of US$10.98 last year. New Risk • Oct 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 30x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (over 30x increase in shares outstanding). Revenue is less than US$1m (US$943k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$75m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Sep 14
REE Automotive Appoints Carlton Rose as Chairman of Its Board of Directors REE Automotive Ltd. announced that Carlton Rose has been appointed Chairman of its Board of Directors (Board), effective upon his re-election to the Board at REE's 2023 Annual Meeting of Shareholders scheduled for October 16, 2023 (AGM). Rose joined REE's Board in June shortly after retiring from a long and distinguished career at UPS where he last served as the president of global fleet maintenance and engineering. Announcement • Sep 12
REE Automotive Announces Resignation of Arik Steinberg from Its Board REE Automotive Ltd. announced Arik Steinberg will voluntarily step down and not stand for re-election at the AGM. Following these changes, REE’s Board will comprise of eight directors; three of them women and four of whom are independent. Announcement • Sep 09
REE Automotive Ltd., Annual General Meeting, Oct 16, 2023 REE Automotive Ltd., Annual General Meeting, Oct 16, 2023, at 05:00 US Eastern Standard Time. Location: REE Automotive Ltd., Kibbutz Glil-Yam Glil Yam Israel Agenda: To re-elect each of Ms. Michal Marom-Brikman, Mr. Daniel Barel, Mr. Ahishay Sardes, Mr. Ittamar Givton, Mr. Hicham Abdessamad, Mr. Carlton Rose, Ms. Alla Felder and Ms. Michal Drayman to serve as directors of the Company, and to hold office until the close of business on the date of the annual general meeting of shareholders to be held in 2024 and until his or her respective successor is duly elected and qualified, or until such individual’s earlier resignation or retirement; to approve a reverse share split of the Company’s Class A ordinary shares, without par value, and Class B ordinary shares, without par value, by a ratio in the range of one-for-twenty to one-for-thirty, to be effective on a date to be determined by the Board of Directors; to approve certain amendments to Amended and Restated Articles, to be described in the proxy statement; and to transact other matters. Major Estimate Revision • Sep 01
Consensus revenue estimates decrease by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$2.15m to US$1.75m. EPS estimate unchanged from -US$0.33 per share at last update. Auto Components industry in the US expected to see average net income growth of 26% next year. Consensus price target down from US$0.94 to US$0.91. Share price was steady at US$0.20 over the past week. Announcement • Aug 29
REE Automotive Ltd. to Report Q2, 2023 Results on Aug 29, 2023 REE Automotive Ltd. announced that they will report Q2, 2023 results Pre-Market on Aug 29, 2023 Announcement • Jun 28
REE Automotive Ltd. Appoints Carlton Rose to Its Board REE Automotive Ltd. announced that Carlton Rose, former global president of fleet maintenance and engineering at UPS, has been appointed to the company's board of directors, effective immediately. Major Estimate Revision • May 30
Consensus revenue estimates decrease by 30% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$3.08m to US$2.15m. EPS estimate unchanged at -US$0.35 per share. Auto Components industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$1.69 to US$0.94. Share price was steady at US$0.38 over the past week. Board Change • May 11
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Ittamar Givton was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Mar 23
Consensus revenue estimates decrease by 90%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$31.1m to US$3.08m. EPS estimate increased from -US$0.495 to -US$0.353 per share. Auto Components industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$2.50 to US$1.69. Share price fell 25% to US$0.31 over the past week. Announcement • Feb 13
REE Automotive Announces Receipt of Notice of Deficiency from Nasdaq Resulting from Previously Announced Departure of Director REE Automotive Ltd. announced that it received a notice of deficiency (the “Notice”) from the Nasdaq Stock Market (“Nasdaq”). The non-compliance cited by Nasdaq in the Notice is the result of the previously-announced departure of Ms. Lilach Geva-Harel from her position on the audit committee of the Company’s board of directors. With the departure of Ms. Lilach Geva-Harel, the Company is currently not in compliance with Nasdaq Listing Rule 5605(c)(2)(A) requiring three members on its audit committee. The Notice indicated that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq will provide the Company a cure period until the earlier of the Company’s next annual shareholders’ meeting or January 5, 2024 in order to regain compliance (the “Cure Period”). The Company is actively searching for an additional independent director for its audit committee and expects to fill the current vacancy and appoint a third independent director to the audit committee of the Company’s board of directors as soon as possible and within the Cure Period. Announcement • Jan 06
Ree Automotive Ltd. Announces Resignation of Ms. Lilach Geva-Harel from the Board of Directors Effective Immediately Ree Automotive Ltd. announced that Ms. Lilach Geva-Harel informed the Company that she was resigning from her position as a member of the board of directors of REE Automotive Ltd. for personal reasons effective immediately. Ms. Geva-Harel had served on the Board and as chairperson of the Company’s audit committee since 2021. Major Estimate Revision • Nov 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$3.08m to US$630.0k. EPS estimate reaffirmed at -US$0.41 per share. Auto Components industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$4.50 to US$2.50. Share price fell 30% to US$0.49 over the past week. Price Target Changed • Nov 18
Price target decreased to US$3.00 Down from US$4.50, the current price target is an average from 4 analysts. New target price is 394% above last closing price of US$0.61. Stock is down 83% over the past year. The company is forecast to post a net loss per share of US$0.40 next year compared to a net loss per share of US$2.14 last year. Price Target Changed • Nov 16
Price target decreased to US$4.50 Down from US$5.25, the current price target is an average from 5 analysts. New target price is 543% above last closing price of US$0.70. Stock is down 82% over the past year. The company is forecast to post a net loss per share of US$0.41 next year compared to a net loss per share of US$2.14 last year. Announcement • Nov 11
REE Automotive Ltd. Received Nasdaq Notification Regarding Minimum Bid Price Requirement REE Automotive Ltd. received a notification on November 7, 2022 from The Nasdaq Stock Market (Nasdaq) notifying the Company that it no longer satisfies Nasdaq Listing Rule 5450(a)(1) because for the past 30 consecutive business days preceding the date of the notification (Notice), the bid price per share of the Company’s Class A Ordinary Shares, without par value (Ordinary Shares) had closed below the $1.00 per share minimum bid price required for continued listing on Nasdaq (Minimum Bid Price Requirement). The Notice has no immediate effect on the listing of the Company’s Ordinary Shares, and the Company’s Ordinary Shares continue to trade on Nasdaq under the symbol “REE”. Under Nasdaq Listing Rule 5810(c)(3)(A), if during the 180 calendar day period following the date of the Notice (the “Compliance Period”), the closing bid price of the Company’s Ordinary Shares is at least $1.00 for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Price Requirement and its Ordinary Shares will continue to be eligible for listing on Nasdaq absent noncompliance with any other requirement for continued listing. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the Compliance Period, under Nasdaq Listing Rule 5810(c)(3)(A)(ii), the Company may be eligible for an additional 180-day compliance period if it applies to transfer the listing of its Ordinary Shares to the Nasdaq Capital Market. To qualify, the Company would be required to meet the continued listing requirement for the market value of its publicly held Ordinary Shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the Compliance Period (or the Compliance Period as may be extended) the Company’s Ordinary Shares will be subject to delisting. The Company intends to monitor the closing bid price of its Ordinary Shares and will consider its options in order to regain compliance with the Minimum Bid Price Requirement. Announcement • Nov 03
REE Automotive Ltd. to Report Q3, 2022 Results on Nov 16, 2022 REE Automotive Ltd. announced that they will report Q3, 2022 results Pre-Market on Nov 16, 2022 Announcement • Oct 21
REE Automotive Ltd., Annual General Meeting, Nov 28, 2022 REE Automotive Ltd., Annual General Meeting, Nov 28, 2022, at 17:00 Israel Standard Time. Location: Kibbutz Glil-Yam, Israel Galil Yam Israel Agenda: To reelect each of Mr. Arik Shteinberg, Ms. Lilach Geva-Harel, Ms. Michal Marom-Brikman, Mr. Daniel Barel, Mr. Ahishay Sardes, Mr. Hari Nair and Mr. Hans Thomas to serve as directors of the Company, each to hold office until the close of business on the date of the annual general meeting of shareholders to be held in 2023 and until his or her respective successor is duly elected and qualified, or until such individual’s earlier resignation or retirement; As proposed by a shareholder of the Company, to elect Mr. Ziv Ironi and approve his terms of service, exculpation and indemnification, to hold office until the close of business on the date of the annual general meeting of shareholders to be held in 2023 and until his successor is duly elected and qualified, or until such individual’s earlier resignation or retirement. Announcement • Sep 17
REE Automotive Ltd., Annual General Meeting, Oct 21, 2022 REE Automotive Ltd., Annual General Meeting, Oct 21, 2022, at 17:00 Israel Standard Time. Agenda: To reelect each of Mr. Arik Shteinberg, Ms. Lilach Geva-Harel, Ms. Michal Marom-Brikman, Mr. Daniel Barel, Mr. Ahishay Sardes, Mr. Hari Nair and Mr. Hans Thomas to serve as a director of the Company and to hold office until the close of business on the date of the annual general meeting of shareholders to be held in 2023 and until his or her respective successor is duly elected and qualified, or until such individual’s earlier resignation or retirement; to approve an amendment to the Company’s Compensation Policy; to approve the reappointment of Kost, Forer, Gabbay & Kasierer, a member of Ernst & Young Global, as the Company’s independent registered public accounting firm for the year ending December 31, 2022, and its service until the annual general meeting of shareholders to be held in 2023; and to transact other business. Major Estimate Revision • Aug 23
Consensus revenue estimates fall by 36% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$5.75m to US$3.66m. Forecast losses increased from -US$0.39 to -US$0.41 per share. Auto Components industry in the US expected to see average net income growth of 40% next year. Consensus price target down from US$5.25 to US$4.08. Share price fell 23% to US$1.15 over the past week. Announcement • Aug 12
Rare Element Resources Ltd. Automotive Debuts P7-B, an Electric Class 3 Box Truck REE Automotive Ltd. announced P7-B, a class 3 box truck built on a P7 cab chassis, following intensive customer evaluations at REE's UK Engineering Center. The new P7-B is part of a fleet of vehicles available to prospective customers to evaluate, test, and experience the unique agility, performance, and design enabled by REE's novel REEcorner x-by-wire technology. To date, evaluations by prospective customers including global delivery, logistics, and e-commerce companies have been positive and encouraging. The prospective customers, to date, experienced firsthand the low step-in height designed for faster delivery times as well as reduced energy consumption due to better aerodynamics and highly efficient power management system of the P7 chassis architecture. Customers also experienced the agility and maneuverability afforded by REE's all-wheel drive and all-wheel steer for unparalleled vehicle control, leading to better handling and safety in adverse conditions. The driver-focused cabin is designed for optimal ergonomics and human-machine interface for maximum driver comfort, safety, and productivity. The P7-B aims to reduce total cost of ownership (TCO) to help facilitate fleets' transition to EVs. The class 3, all-by-wire electric truck, designed and built by REE based on its P7 modular chassis, targets the important and growing commercial EV mid- and last-mile delivery market, with applications such as 16-foot vans and delivery trucks. It was built in response to market needs and represents a potential opportunity for REE to present fleets with complete vehicles. It also follows the recently-announced Proxima Powered by REE, which is P7's debut on a walk-in van and features JB Poindexter's Morgan Olson and EAVX Proxima body paired with REE's P7 stripped chassis. This P7 box truck configuration offers increased interior space for passengers and cargo and a low step-in height while targeting a maximum speed of 75 mph (120 km/h), max range of 150 miles (241 km), up to 4,400 lbs (2,000 kg) payload, and vehicle weight ratings (GVWR) of up to 14,000 lbs (6,350 kg). The configuration can be modified to best suit customer needs. The full x-by-wire architecture supports all-wheel steer, all-wheel drive, adaptive regenerative breaking, creep control, hill start assist, and torque vectoring as standard as well as over-the-air updates. REE's P7-B and the P7 modular chassis is targeted to be produced in both North America and the UK. Announcement • Jun 30
REE Automotive Ltd. to Report Q2, 2022 Results on Aug 16, 2022 REE Automotive Ltd. announced that they will report Q2, 2022 results at 8:30 AM, Eastern Daylight on Aug 16, 2022 Seeking Alpha • Jun 30
REE Automotive: Building A Platform To Ride Growing Demand For Commercial EVs REE Automotive is an under-the-radar EV company targeting commercial delivery fleets and Mobility-as-a-Service startups.
The company only went public last year on the back of the SPAC boom.
Whilst still pre-revenue, the commercialization of their platform technology remains on track.
Hastening the EV transition continues to form a core tenet of the push by policymakers to reduce oil demand. This has most recently seen the European Union endorse a framework to end new internal combustion engine vehicle sales by 2035. This places the union on a long list that includes the United Kingdom, Norway, South Korea, and California. The objective is clear, destroy oil demand directly to address climate concerns. An objective bolstered if the electricity then comes from renewables, nuclear power, and lower-carbon natural gas.
REE Automotive (REE) is developing a rolling chassis for commercial electric vehicles. This will include the REEcorner, an integration of all critical vehicle components (steering, braking, suspension, and powertrain) into the arch of the wheel. REE is essentially offering OEMs a platform they can use as a foundation for their EVs. The company sees itself as a pick-and-shovel play on rising EV demand from commercial customers. This comes on the back of growing pressure on companies to embed greater sustainability into their operations. By using REE as a platform, these companies can reduce their time-to-market, comply with zero-carbon regulations, and lower their total cost of ownership.
Going Public To Ride The EV Wave
REE went public through a merger with a blank check company in July of 2021. The fledgling EV company did so to raise $288 million of gross proceeds in a transaction that was completed at a $3.1 billion valuation.
Data by YCharts
The valuation has since declined by 88% from all-time highs to $418 million as the unrestrained euphoria that defined the EV SPAC boom has given way to a more pragmatic consideration of the pre-revenue EV company. And whilst REE has somewhat of a niche strategy to target the wave of decarbonization sweeping across the world, its management maintains that they are targeting a $700 billion total addressable market. The strategy to market an EV platform directly to OEMs is unique amongst its commercial EV SPAC peers. Other recently public commercial EV companies like Arrival (ARVL), Cenntro Electric (CENN), and Lion Electric (LEV) are all building their own EV models to sell directly to the same customers being targeted by REE.
The company recently announced earnings for its fiscal 2022 first quarter and mostly shared operational updates in its push toward full commercialization. REE continued to build relationships with new partners including EAVX with whom REE is jointly developing a walk-in step van prototype. The class 5 vehicle prototype is expected to begin customer evaluations this summer with the Start of Production and deliveries on track for 2023. GAAP net loss was $23.0 million in the first quarter, up from $12.6 million first quarter of 2021.
REE reiterated its fiscal year guidance for operating expenses to total between $100 and $120 million, mainly driven by engineering and technology expenses related to its commercialization efforts. The company's free cash flow for the quarter was negative at $38.4 million, up significantly from $6.5 million in the year-ago period. This is to be expected as the company starts to ramp up its testing and the expansion of its market footprint as it advances towards its 2023 commercialization timeline. Sentiment in the space has turned south with dwindling cash balances and going concern risk now being more widespread than in 2021. The bankruptcy of Electric Last Mile has reverberated throughout the sector, highlighting the importance of a large cash balance in helping these upstarts survive the expected economic difficulties. Major Estimate Revision • May 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$7.02m to US$5.75m. EPS estimate increased from -US$0.49 to -US$0.40 per share. Auto Components industry in the US expected to see average net income growth of 29% next year. Consensus price target down from US$7.33 to US$5.25. Share price fell 2.2% to US$1.75 over the past week. Price Target Changed • Apr 27
Price target decreased to US$7.33 Down from US$12.20, the current price target is an average from 6 analysts. New target price is 286% above last closing price of US$1.90. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$0.49 next year compared to a net loss per share of US$2.14 last year. Announcement • Apr 25
REE Automotive Ltd. to Report Q1, 2022 Results on May 17, 2022 REE Automotive Ltd. announced that they will report Q1, 2022 results at 8:30 AM, US Eastern Standard Time on May 17, 2022 Announcement • Apr 06
REE Automotive Announces Management Changes REE Automotive announced the appointment of Josh Tech as the company’s chief operations officer (COO). Josh joins REE after serving on Tesla’s Operations Leadership Team as Head of the New Product/Manufacturing Introduction group. Previously, he oversaw manufacturing development and launch at a worldwide leader in automotive exterior design, development, and manufacturing, and most recently served as Vice President of Manufacturing and Engineering for Plant Prefab. Based in the U.S., Josh replaces Michael Charlton, who will serve as strategic advisor on manufacturing, extending his decades of global automotive and manufacturing expertise to the REE leadership team. As REE’s COO, Josh will be based in the U.S. and lead all aspects of REE’s operations, manufacturing, and global expansion management, including leveraging his unique talent for the launch of REE’s integration centers in Austin, Texas, and Coventry, UK. Major Estimate Revision • Mar 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$13.3m to US$10.4m. EPS estimate increased from -US$0.63 to -US$0.50 per share. Auto Components industry in the US expected to see average net income growth of 34% next year. Consensus price target down from US$12.20 to US$9.20. Share price fell 13% to US$2.17 over the past week. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Net loss: US$505.3m (loss widened US$437.6m from FY 2020). Revenue missed analyst estimates by 7.7%. Over the next year, revenue is forecast to grow 236,567%, compared to a 128% growth forecast for the industry in the US. Announcement • Feb 19
REE Automotive Ltd. to Report Q4, 2021 Results on Mar 03, 2022 REE Automotive Ltd. announced that they will report Q4, 2021 results Pre-Market on Mar 03, 2022 Major Estimate Revision • Feb 04
Consensus revenue estimates fall by 57% The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$880.0k to US$380.0k. Forecast losses increased from -US$2.02 to -US$2.15 per share. Auto Components industry in the US expected to see average net income growth of 22% next year. Consensus price target of US$12.20 unchanged from last update. Share price fell 5.8% to US$3.72 over the past week. Recent Insider Transactions Derivative • Jan 28
Independent Director notifies of intention to sell stock Hari Nair intends to sell 450k shares in the next 90 days after lodging an Intent To Sell Form on the 24th of January. If the sale is conducted around the recent share price of US$4.40, it would amount to US$2.0m. Since September 2021, Hari has owned 1.87m shares directly. Company insiders have collectively bought US$2.0m more than they sold, via options and on-market transactions, in the last 12 months. Price Target Changed • Jan 18
Price target decreased to US$12.20 Down from US$13.75, the current price target is an average from 4 analysts. New target price is 132% above last closing price of US$5.25. Stock is down 49% over the past year. The company is forecast to post a net loss per share of US$2.00 next year compared to a net loss per share of US$0.43 last year. Announcement • Jan 06
REE Automotive Ltd. Commences Trials of All-New Electric P7 Modular Platform for Delivery Fleets REE Automotive Ltd. announced that it is commencing trials of its all-new P7 platform designed for commercial delivery vehicles and walk-in vans. The P7 platform, targeted to a U.S. based delivery van program, was designed based on functional and operational specifications from one of the world's largest delivery companies. Fully flat from end-to-end, P7 offers greatest interior space and volumetric efficiency for vehicles in classes 3-5. Supporting up to 8,800 lbs. max payload, the P7 platform packs up to 35% more packages than comparable commercial vehicles or the equivalent and can comfortably carry up to 30 passengers, making it the optimal platform for target markets such as delivery and logistic fleet owners, transit authorities, school buses and mobility operators. REEcorner and X-by-Wire technology allows each wheel to move independently for enhanced driving dynamics and safety with all-wheel steer, drive and brake options. The P7 modular platform is designed to radically simplify development times of electric commercial models and is optimized for fleet owners looking to create their own commercial vehicle brand, unique design and market differentiation utilizing the REE configuration and lowest TCO due to Battery-as-a-Service, Data-as-a-Service and fast REEcorner swap. On the path to production, last year REE nominated key suppliers American Axle & Manufacturing (AAM) to supply high-performance electric drive units and Brembo to co-develop and supply the braking system. Core design commonalities in the innovative P7 architecture are designed to provide significant development synergies for additional future REEcorner models across vehicle classes. This architecture approach affords both cost and timing benefits through the development process, as well as further production efficiencies from the resultant economies of scale. Electric and autonomous vehicles built on top of REE's P7 platforms will be able to achieve driving ranges of up to 370 miles with max speeds of 80 mph and supporting gross vehicle weight ratings (GVWR) of up to 16,500 lbs. REE's P7 platform offers unparalleled benefits in terms of virtually unlimited design freedom to meet customers' exact business needs, highest driving and range performance, enhanced safety and stability and disruptive X-by-Wire technology that affords fail-safe and independent wheel control. P7 Platform Highlights: Greatest interior space on smallest footprint due to end-to-end fully-flat chassis & low floor design; Higher volumetric efficiency yields higher operational margins; P7 provides minimal turning radiuses and enhanced driving reliability and stability due to REEcorner™ X-by-Wire tech; P7 platforms will support Data-as-a-Service – affording fleet managers with complete visibility and actionable insights over their fleet operations; The platform shown is 7.6m in length and 2.4m in width. Announcement • Dec 29
REE Automotive Ltd. Announces to Showcase Its Global E-Mobility Ecosystem Vision At CES 2022 REE Automotive Ltd. announced that it is exhibiting at CES on Jan.5-8th in Las Vegas both in-person and virtually with an expanded and interactive digital experience. REE will display its functional ultra-modular EVs, electric platform prototypes and demos of its revolutionary REEcorner™ technology with full x-by-wire. The REE display at the CES show includes: REE-Hino Motors EV Platform & Business Alliance: The companies' joint exhibit at CES reinforces the strength of Hino's and REE's enduring partnership and shared effort to provide electric commercial mobility solutions geared to improve quality of life on a global scale. REE and Hino will showcase a full-size FlatFormer concept model, a fully-flat and modular EV platform that is geared to serve multiple target markets, from delivery companies to Mobility-as-a-Service. Companies are on track for hardware prototypes by FY2022; REEcorner™ Demo: The?REEcorner™ demo highlights?the performance of four functional REEcorners™ under real-world conditions, allowing visitors to experience the wide range of mission-specific vehicles that can be enabled by the REEcorners™ and EV platforms. REEcorners™ boast x-by-wire technology allowing for independent wheel drive, steering and brake control and full EV and AV design flexibility. Through REE's partnership with American Axle & Manufacturing REE will show how REEcorners™ incorporate AAM's 3-in-1 propulsion system (Electric Drive Unit, Inverter and Gear Reducer) to deliver unparalleled power and control; Leopard Autonomous Delivery Concept Vehicle: REE will display its fully autonomous delivery vehicle concept, Leopard, for the first time ever, based on REE's brand new, ultra-modular vehicle platform. The vehicle features LiDAR sensors from Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software. Recent Insider Transactions Derivative • Dec 02
Chief Financial Officer notifies of intention to sell stock Hai Aviv intends to sell 135k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of November. If the sale is conducted around the recent share price of US$3.74, it would amount to US$505k. Since September 2021, Hai has owned 1.18m shares directly. Company insiders have collectively bought US$2.0m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Nov 24
General Counsel & Corporate Secretary notifies of intention to sell stock Angelique Strong Marks intends to sell 40k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of November. If the sale is conducted around the recent share price of US$3.90, it would amount to US$155k. Since September 2021, Angelique has owned 57.85k shares directly. Company insiders have collectively bought US$2.0m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 19
Third quarter 2021 earnings released: US$1.57 loss per share Third quarter 2021 results: Net loss: US$414.9m (flat on 3Q 2020). Board Change • Nov 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Lilach Geva-Harel was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 04
Director recently bought US$1.3m worth of stock On the 2nd of September, Hans Thomas bought around 222k shares on-market at roughly US$5.77 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.