Canoo Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Interest income retained in Trust Account
Increase in prepaid expenses
Increase in accounts payable
Increase in accrued liabilities
Increase in deferred compensation
Depreciation
Non-cash operating lease expense
Non-cash commitment fee under the SEPA
Inventory write-downs
Non-cash legal settlement
Stock-based compensation expense
Gain on fair value change of contingent earnout shares liability
Loss on fair value change in private placement warrants liability
Gain on fair value change in warrants liability
Gain on fair value change in derivative liability
Loss on fair value change in convertible debt
Non-cash debt discount
Non-cash interest expense
Other
Inventory
Prepaid expenses and other current assets
Other assets
Accounts payable
Accrued expenses and other current liabilities
Operating lease liabilities
Other long-term liabilities
Accounts payable & accrued expenses and other current liabilities
Net cash used in operating activities

Cash flows from investing activities:
Cash deposited in Trust Account
Cash withdrawn from Trust Account for taxes
Purchases of property and equipment
Prepayment to VDL Nedcar
Return of prepayment from VDL Nedcar
Net cash used in investing activities

Cash flows from financing activities:
Proceeds from related party shareholder receivable
Repayments on related party promissory note
Proceeds from related party convertible debt and derivative liability
Proceeds from sale of Units to the public
Proceeds from issuance of common stock for related party convertible debt
Proceeds from issuance of common stock for convertible debt
Proceeds from PPP loan
Repurchase of unvested shares
Payment on stock warrant redemption
Payment of offering costs
Business combination and PIPE financing, gross proceeds
Business combination and PIPE financing, issuance costs
Repayments on PPP loan
Proceeds from issuance of unvested shares
Proceeds from the exercise of YA warrants
Proceeds from the purchase of shares and warrants by VDL Nedcar
Proceeds from issuance of shares under SEPA agreement
Proceeds from issuance of shares under PIPEs
Payment of underwriting discounts
Proceeds from the employee stock purchase plan
Proceeds from the exercise of stock options
Proceeds from issuance of redeemable convertible preference shares-Seed Series
Proceeds from issuance of shares under RDO, net of issuance costs
Proceeds from convertible debenture, net of issuance costs
Payment made on financing arrangement
Proceeds from the issuance of shares under ATM
Proceeds from PPA, net of issuance costs
Proceeds from Preferred Shares transaction
Net cash provided by financing activities

Net increase in cash
Cash and cash equivalents
Net decrease in cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash, beginning of period
Cash, cash equivalents, and restricted cash, end of period
Supplemental non-cash investing and financing activities:
Acquisition of property and equipment included in current liabilities
Acquisition of property and equipment included in current liabilities during the period
Acquisition of property and equipment included in financing liabilities
Recognition of operating lease right of use asset
Exchange of convertible debt
Exchange of redeemable convertible preference shares
Redeemable Convertible Preferred Stock
A Series Redeemable Convertible Preference Shares
A-1 Series Redeemable Convertible Preference Shares
Total exchange of redeemable convertible preference shares

Gain on extinguishment of related party convertible debt recorded in additional paid-in capital
Offering costs included in accounts payable
Recognition of private placement warrants liability
Reclassification of warrant liability to additional paid-in-capital
Issuance of shares for extinguishment of convertible debt under PPA agreement
Issuance of shares for extinguishment of convertible debt under convertible debenture
Recognition of warrant liability
Recognition of derivative liability
Recognition of derivative asset
Recognition of convertible debentures
Offering costs included in current liabilities
Settlement of offering costs
Reclassification of deposit paid to VDL Nedcar to receivable
Cash paid for interest
Accretion on preferred shares
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets
Cash and cash equivalents at end of period
Deferred underwriters' compensation
Cash paid for income taxes
Restricted cash at end of period
Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows
Restricted cash, current at end of period
Restricted cash, non-current at end of period

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