Canoo Inc. · OTC:GOEVQ
Canoo — FY2020 Earnings Presentation
17 slides from Canoo's earnings presentation, Mar 29, 2021
Slide 1: Fourth Quarter and Full Year 2020 Earnings Presentation
C A N O O F o u r t h Q u a r t e r a n d F u l l Y e a r 2 0 2 0 E a r n i n g s P r e s e n t a t i o n , M a r c h 2 9 , 2 0 2 1 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements The information in this presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words
Slide 3: Proven track record for building successful businesses and giving back
C A N O O Proven track record for I n v e s t o r, E x e c . Ch a i rm a n [ O c t - 2 0 - P re s e n t ] building successful F o u n d e r A F V P a rt n e rs [ 4 th J u l y 2 0 1 9 - P re s e n t ] businesses and giving back I n v e s t o r & E x e c . Ch a i rm a n [ F e b - 1 9 - P re s e n t ]
Slide 4: Automotive is a key driver of the global economy
C A N O O AUTOMOTIVE IS A KEY DRIVER OF THE GLOBAL ECONOMY 3.5-4% of 90M vehicles 1.5B cars on 14M auto global GDP sold annually the road related jobs $9T global 2x profitability for 12 years average age +35% auto jobs since automotive market by trucks and SUV vs cars financial crisis 2030 M A R C H
Slide 5: Electrification will be one of the economic engines of the next decade
C A N O O ELECTRIFICATION WILL BE ONE OF THE ECONOMIC ENGINES OF THE NEXT MARKET OPPORTUNITY PRIMARY EFFECTS SECONDARY EFFECTS ~32% 4 - 7 x jobs created for every Educational investment 1 EV Job Sales volume CAGR (‘20-’30) Workforce development 8% 35% Advanced manufacturing and technology jobs Of gl
Slide 6: Compelling case for adoption
C A N O O COMPELLING CASE FOR ADOPTION BEV TCO = ICE TCO ~9K ~11K ~23K miles miles miles Annual mileage at Average annual Average annual which BEV and ICE mileage per mileage for TCO are equal 1 household vehicle commercial vehicles ~123M ~35+% Vehicles savings Number of vehicles Commercial BEV TCO
Slide 7: Traditional OEMs have numerous platforms and models
C A N O O TRADITIONAL OEMS HAVE NUMEROUS PLATFORMS AND MODELS ICE BEV+FCEV PLATFORMS 20 2 31 4 16 12 3 MODELS 42 2 65 4 29 19 7 M A R C H 2 0 2 1 7 Source: IHS Global excluding hybrid
Slide 8: Multi-purpose platform (MPP1), many derivatives
C A N O O MULTI-PURPOSE PLATFORM (MPP1), MANY DERIVATIVES ENTERPRISE FLEETS TRADES SMALL BUSINESS UTILITY & ADVENTURE LIFESTYLE O N E P L AT F O R M EVENTS M A N Y U S E C A S E S M A R C H 2 0 2 1 8
Slide 9: Canoo's purpose built vehicles have broad based appeal
C A N O O CANOO’S PURPOSE BUILT VEHICLES HAVE BROAD BASED APPEAL TURNING RADIUS SIZE PAYLOAD of a Toyota Prius of a Ford Ranger of a Ford F-150 10:1 5:1 2010 2020 U.S. cars to pickup trucks sold PICKUPS REDEFINED THE U.S. CANOO WILL REDEFINE THE EV MARKET AUTO MARKET M A R C H 2 0 2 1 9 Source: IHS
Slide 10: Genuine customer interest
C A N O O GENUINE CUSTOMER INTEREST 10 THE FUTURE OF THE DELIVERY VAN THE SWISS ARMY KNIFE OF PICK-UP TRUCKS M A R C H 2 0 2 1 10
Slide 11: We focus on owners to drive long-term value
C A N O O …W E F O C U S O N O W N E R S 2 + T O D R I V E L O N G - T E R M V A L U E Modification & Upgrades Modification & Upgrades Modification & Upgrades Purchase Re-sale Purchase Re-sale Purchase Re-sale Purchase Re-sale Service & Service & Service & Service & Maintenance Maintenance Maintenan
Slide 12: Canoo has the opportunity to capitalize on three additional revenue streams
C A N O O CANOO HAS THE OPPORTUNITY TO CAPITALIZE ON THREE ADDITIONAL REVENUE STREAMS US TAM/(Gross margin) $ $24B / 3-4% CAGR (50%) $400M / $400M / 16% CAGR (70-80%) (70-80%) 2-3% CAGR $280B / $280B / (40-50%) (40-50%) $280B / (40-50%) Only 25-30% addressable to other OEMs Past Present Future Upfit
Slide 13: Financial Update
C A N O O FINANCIAL UPDATE M A R C H 2 0 2 1 13
Slide 14: Q4 2020 Operating Expenses, Net Loss and Adjusted EBITDA
C A N O O Q4 2020 $Millions Operating Expenses Net Loss and Adjusted EBITDA Includes Stock-Comp 35.7 42.7 12.3 Excludes Stock-Comp Includes Stock-Comp** 90.0 7.1 (42.5) (35.3) 11.2 31.3 28.6 Q420 Q420 Q419 Q420* Q419 Research and development Sales, general and administrative Net Loss Adjusted EBITDA
Slide 15: FY 2020 Operating Expenses, Net Loss and Adjusted EBITDA
C A N O O FY 2020 $Millions Operating Expenses Net Loss and Adjusted EBITDA Including Stock-Comp Including Stock-Comp Excludes Stock-Comp 51.6 182.4 31.6 30.5 89.8 Excludes Stock-Comp 26.7 142.9 137.4 136.5 (108.3) 83.5 (167.1) FY20 FY20 FY19 FY19 Sales, general and administrative expense FY20* FY19
Slide 16: Cash Flow Summary
C A N O O Cash Flow Summary $Millions 171.5 107.1 42.0 43.7 22.1 6.3 3.9 7.6 4Q20 4Q19 FY20 FY19 Cash used in Operations Capital Expenditures M A R C H 2 0 2 1 16
Slide 17: Fourth Quarter and Full Year 2020 Earnings Presentation
C A N O O F o u r t h Q u a r t e r a n d F u l l Y e a r 2 0 2 0 E a r n i n g s P r e s e n t a t i o n , M a r c h 2 9 , 2 0 2 1 17