REE Automotive (NASDAQ:REE) reported financial results for the six months ended June 30, 2025, highlighting a strategic shift toward a technology-first and OEM-collaboration model as the company continues to develop its electric vehicle platform.
The company, which trades on the Nasdaq under the ticker REE, disclosed $54.7 million in cash as of June 30, 2025, a decrease from $72.3 million at the end of 2024.
REE reported a free cash flow burn of $52.5 million for the first half of 2025, an increase of 31% compared to the same period last year.
REE’s GAAP net loss for H1 2025 was $24.3 million, down approximately 33% year-over-year.
The non-GAAP net loss for the same period was $36.5 million, up 8% compared to H1 2024.
Despite the increased cash burn, the company emphasized its ongoing strategic shifts, including binding agreements that could potentially generate up to $107 million over the next two years, contingent on closing conditions.
The company also announced Memoranda of Understanding (MOUs) with Mitsubishi Fuso and Cascadia Motion to advance its electric vehicle collaborations.
Additionally, REE plans to reduce its monthly operating expenses from approximately $6 million to a targeted $1.8 million by the end of Q1 2026, aiming to improve financial sustainability as it focuses on its technology and OEM partnerships.