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Arrival Sees Wider Q4 Loss Hit By $406M Impairment Charges – Arrival (NASDAQ:ARVL) – Stocks to Watch
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Arrival Sees Wider Q4 Loss Hit By $406M Impairment Charges – Arrival (NASDAQ:ARVL)

ByShivani Kumaresan

Mar 9, 2023
Arrival Sees Wider Q4 Loss Hit By $406M Impairment Charges - Arrival (NASDAQ:ARVL)

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  • Arrival SA ARVL said it expects a fourth-quarter FY22 loss of $(588) million – $(597) million versus a loss of $(67) million last year.

  • The loss includes non-cash impairment charges and write-offs of approximately $406 million.

  • It sees adjusted EBITDA loss of $(162) million – $(172) million versus a loss of $(85) million last year.

  • ARVL expects administrative expenses for the quarter to be about $133 million and non-capitalized R&D expenses of approximately $31 million.

  • Arrival sees capital expenditure, including tangible and intangible purchases, of $25 million versus $104 million in Q4 FY21.

  • In Q4, the cash balance was reduced by $126 million to $205 million. It held cash and equivalents of $205 million as of Dec. 31, 2022.

  • Price Action: ARVL shares are trading higher by 1.32% at $0.22 on the last check Thursday.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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