REE Automotive Ltd. announced financial results for the six months ended June 30, 2025, focusing on software-defined vehicle technology and by-wire platforms. CEO Daniel Barel highlighted the company’s shift to a technology-first approach, strategic partnerships, and cost optimization efforts. REE secured agreements with technology companies like Mitsubishi Fuso to explore SDV capabilities and signed an MOU with Cascadia Motion to co-develop an electric drive unit.

Financially, REE reported $54.7 million in cash & cash equivalents as of June 30, 2025, a decrease from December 31, 2024. Free Cash Flow burn increased by 31% YoY, while GAAP net loss decreased by 33%. Non-GAAP net loss increased by 8%, primarily due to the recognition of a UK R&D tax credit and grants in 2024. REE aims to reduce operating expenses by 70% by the end of Q1 2026.

The company also provided a reconciliation of GAAP to non-GAAP measures, highlighting Adjusted EBITDA and Free Cash Flow. REE emphasized the importance of non-GAAP financial measures in evaluating ongoing operational performance and trends. By providing additional tools for investors to analyze results, REE aims to enhance understanding of its past performance and future prospects. Non-GAAP net loss per share was calculated for better comparison with industry peers.

Read more at GlobeNewswire: REE Automotive Announces First Half 2025 Earnings Results