Einride reported Tuesday a first-half revenue of SEK 273 million ($27 million), up 26% year over year on a constant-currency basis. It was the Swedish company’s first earnings release since its June 10 Nasdaq listing. Management expects growth to accelerate to between 60% and 73% in the second half. The company is pairing that outlook with two new partnerships. Six days before the earnings, Einride announced a joint initiative with DAF Trucks to integrate its autonomous driving system into DAF’s electric truck platform. It also disclosed plans to deploy 500 Tesla Semi trucks on its Saga AI platform, financed through third-party structures. That single deal would triple the current fleet of roughly 250 vehicles to about 750. Fleet path and third-party financing Einride is targeting cash-flow breakeven in 2028 with between 1,500 and 2,000 trucks in operation. Roughly $800 million of potential long-term annual recurring revenue sits in joint business plans with customers. “We are scaling with capital discipline. By financing fleet growth through asset-backed structures, we’re able to convert signed demand into operating revenue faster while minimizing dilution for our shareholders and executing towards our target to reach cash flow breakeven point in 2028,” said Anubhav Verma, chief financial officer. Net loss widened to SEK 1.12 billion from SEK 887 million a year earlier. Non-cash charges accounted for most of the increase, including a SEK 636 million recapitalization expense tied to the business combination and a SEK 245 million share-based compensation charge related to the listing. Cash stood at SEK 748 million ($77 million) as of June 30. The listing and business combination with Legato Merger Corp. III included an oversubscribed $113 million PIPE financing earmarked for expanding Saga AI coverage and accelerating deployments. The transaction valued Einride at a pre-money equity value of about $1.35 billion, according to
Einride targets 1,500 <b>trucks</b> by 2028 with Tesla and DAF deals
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