annual

And it did reduce its loss from operations by nearly half, from $506 million in 2022 to $267 million in 2023. Under a deal reached in November 2020, Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft. In 2023, Canoo spent $1.7 million on this reimbursement — that’s double the amount of revenue it generated. Canoo paid Aquila Family Ventures $1.3 million in 2022 and $1.8 million in 2021 for use of the aircraft. This could be chalked up to small monetary potatoes if Canoo reaches its revenue forecast for 2024 of $50 million to $100 million.