Canoo (GOEVQ) AI Stock Analysis

• Market Cap: $72.43K
• Dividend Yield: N/A
• Average Volume (3M): 40.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 16.07
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 651
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Manufacturers
• EPS (TTM): N/A
• Shares Outstanding: 14,486,039
• 10 Day Avg. Volume: 15,046
• 30 Day Avg. Volume: 40,661
• PEG Ratio: -0.93
• Price to Book (P/B): 7.04
• Price to Sales (P/S): 1752.75
• P/FCF Ratio: -53.25
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: ―

Canoo faces significant financial challenges, including negative profitability and cash flow issues. While there is some revenue growth and strategic refocus on fleet customers, the negative technical indicators and valuation concerns reflect ongoing market skepticism. Recent corporate events further highlight the financial strain and operational hurdles the company must overcome.

Positive Factors

Revenue Growth

Canoo's record-breaking revenue indicates potential market acceptance and growth, which is crucial for scaling operations and improving financial health.

Cost Reduction

Effective cost management through reduced R&D expenses enhances operational efficiency and can lead to improved margins over time.

International Expansion

International expansion efforts, especially with major fleets, can diversify revenue streams and strengthen Canoo's market position globally.

Negative Factors

Cash Flow Challenges

Persistent negative cash flow from operations indicates difficulty in sustaining business activities without external funding, posing long-term viability risks.

Delayed Production Plans

Delays in production capabilities can hinder Canoo's ability to meet demand and achieve economies of scale, affecting future revenue and profitability.

Workforce Reductions

Significant workforce reductions may impact operational capacity and morale, potentially slowing down project execution and innovation efforts.

Canoo Business Overview & Revenue Model

Company Description

Canoo Inc., a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. It offers lifestyle delivery vehicles, multi-purpose delivery vehicles, lifestyle vehicles, and pickups; battery modules; and engineering services. The company also provides Canoo Digital Ecosystem, an application store that centralizes vehicle information and provides tools across security and safety, household vehicle, fleet, lifecycle, and vehicle asset management. It serves commercial and passenger vehicles, upfitting and accessories, and telematics data sectors. Canoo Inc. is headquartered in Torrance, California. On January 17, 2025, Canoo Inc., along with its affiliates, filed a voluntary petition for liquidation under Chapter 7 in the U.S. Bankruptcy Court for the District of Delaware.

How the Company Makes Money

Canoo Inc. primarily generates revenue through the sale of its electric vehicles, targeting both individual consumers and commercial clients. The company offers a unique subscription model, allowing customers to access their vehicles through a flexible, all-inclusive monthly fee that covers maintenance, insurance, and other services, providing a steady revenue stream. Additionally, Canoo seeks partnerships and collaborations with various companies and entities to expand its reach and enhance its product offerings. As the EV market continues to grow, Canoo aims to capitalize on the increasing demand for sustainable transportation solutions by leveraging its innovative vehicle designs and technology-driven approach.

Canoo Financial Statement Overview

Summary

Canoo's financials reflect a company in distress, with substantial challenges across income, balance sheet, and cash flow metrics. Despite some revenue growth, profitability and cash generation remain significant issues. The balance sheet shows some leverage control, but declining equity and continued losses are pressing concerns. The company’s reliance on financing activities underscores the need for operational improvements.

Income Statement

Canoo's income statement reveals significant challenges. The gross profit margin and net profit margin are negative, indicating the company is operating at a loss. However, there is a notable increase in revenue from 2023 to the TTM period, suggesting some growth potential. Despite this, the negative EBIT and EBITDA margins reflect deep operational inefficiencies.

Balance Sheet

Canoo's balance sheet shows a mixed picture. The debt-to-equity ratio is moderate, suggesting manageable leverage, but the negative net income impacts the return on equity negatively. The equity ratio indicates a reasonable level of equity to total assets, yet the declining stockholders' equity raises concerns about financial stability.

Cash Flow

Canoo's cash flow indicates severe pressure. The operating cash flow is consistently negative, and the free cash flow growth rate is also negative. The ratios of operating and free cash flow to net income are unfavorable, highlighting challenges in converting income into cash. However, positive financing cash flow suggests continued access to external funding.

Breakdown	TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement
Total Revenue	1.86M	886.00K	0.00	0.00	2.55M	0.00
Gross Profit	-1.33M	-1.49M	-13.91M	-9.97M	1.88M	0.00
EBITDA	-118.67M	-282.64M	-471.54M	-336.80M	-78.93M	2.27M
Net Income	-140.83M	-302.02M	-466.34M	-346.77M	-86.69M	-192.70M
Balance Sheet
Total Assets	523.29M	542.00M	496.47M	523.07M	753.47M	72.08M
Cash, Cash Equivalents and Short-Term Investments	5.47M	10.30M	36.59M	227.49M	702.42M	29.01M
Total Debt	79.16M	89.99M	73.44M	14.61M	20.65M	100.13M
Total Liabilities	301.33M	292.43M	259.90M	179.07M	188.23M	12.46M
Stockholders Equity	221.96M	249.58M	236.57M	344.00M	571.86M	5.00M
Cash Flow
Free Cash Flow	-201.06M	-318.20M	-497.75M	-437.41M	-114.61M	-193.60M
Operating Cash Flow	-169.64M	-251.13M	-400.48M	-300.82M	-107.05M	-171.45M
Investing Cash Flow	-31.42M	-67.06M	-66.83M	-162.73M	-7.56M	-22.14M
Financing Cash Flow	194.42M	288.48M	290.43M	-11.39M	787.53M	205.08M

Canoo Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.05
• 50DMA: Negative
• 100DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GOEVQ, the sentiment is Negative. The current price of 0.05 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.10, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 41.06 is Neutral, neither overbought nor oversold. The STOCH value of 48.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GOEVQ.

Canoo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
VMAR	42 Neutral	$3.39M	―	―	―	-66.16%	78.81%
NVVE	41 Neutral	$2.33M	>-0.01	-3734.39%	―	-9.58%	86.27%
GOEVQ	40 Underperform	$72.43K	―	―	―	―	―
REE	39 Underperform	$19.20M	-0.08	―	―	―	―
BINI	38 Underperform	$1.64M	―	―	―	5865.42%	98.16%