Investor Presentaiton
Reconciliation of GAAP to non-GAAP Measures1
Reconciliation of GAAP research and development expenses to
Non-GAAP research and development expenses; GAAP selling,
general, and administrative expenses to Non-GAAP selling,
general, and administrative expenses; GAAP operating expenses
to Non-GAAP operating expenses; GAAP net loss to Non-GAAP
net loss, and GAAP net loss per Share, basic and diluted to Non-
GAAP net loss per Share, basic and diluted
GAAP cost of sales expenses
Inventory write-off
Share-based compensation
Non-GAAP cost of sales expenses
Three Months Ended
Mar 31, 2021
Mar 31, 2022
Dec 31, 2021
$ 538
656
$ 11
(251)
ā
(70)
(128)
468
277
11
GAAP research and development expenses
22,397
23,292
7,149
Share-based compensation
(3,207)
(5,559)
(1,645)
Non-GAAP research and development expenses
19,190
17,733
5,504
GAAP selling, general, and administrative expenses
Share-based compensation
15,288
15,538
5,448
(5,198)
(8,428)
(2,461)
Non-GAAP selling, general, and administrative expenses
10,090
7,110
2,987
GAAP operating expenses
Share-based compensation
Non-GAAP operating expenses
37,685
38,830
12,597
(8,405)
(13,987)
(4,106)
29,280
24,843
8,491
1)
2)
In July 2021, the Company assumed public and private warrants as part of its
merger with 10X Capital. For the first quarter of 2022, the change in fair value
of the warrants resulted in the Company recording non-cash income of $15.3
million.
Prior period results have been retroactively adjusted to reflect the 1:26.7017
stock split and the changes in par value from 0.01 NIS to no par value
effected on July 22, 2021.
GAAP net loss
(23,015)
(46,651)
(12,598)
Loss (income) from warrant valuation (1)
(15,330)
6,239
8,475
14,115
4,106
251
$ (29,870)
$ (26,046)
$ (8,492)
Share-based compensation
Inventory write-off
Non-GAAP net loss
Non-GAAP basic and diluted net loss per share
Weighted average number of ordinary shares and preferred shares used in
computing basic and diluted net loss per share (2)
$(0.10)
$ (0.09)
289,747,646
284,294,928
$ (0.04)
193,705,500
R3E
(1) See REE's Q1 2022 6-K (EX 99.1)
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