How did REE's revenue and expenses trend in Q3 2024?

REE Automotive experienced a significant decline in gross margin and an increase in R&D and sales and marketing expenses in Q3 2024, indicating a challenging financial period for the company. 1. **Revenue**: The company's revenue for Q3 2024 is not currently available. 2. **Gross Margin**: The gross margin for REE Automotive in Q3 2024 was -957.89%, which suggests that the company's costs exceeded its revenues by a wide margin during the quarter. |code|Ticker|Name|Date|Gross Profit Margin|Gross Profit Margin YoY|market_code| |---|---|---|---|---|---|---| |REE|REE.O|REE Automotive|2023 Q4|-103.3582||186| |REE|REE.O|REE Automotive|2024 Q1|-402.5||186| |REE|REE.O|REE Automotive|2024 Q2|-809.375||186| |REE|REE.O|REE Automotive|2024 Q3|-957.8947|-817.3198101571298|186| 3. **R&D Expenses**: REE Automotive's R&D expenses for Q3 2024 were $12.39 million, which could be a significant burden on the company's financial health, especially when compared to its revenue. |code|Ticker|Name|Date|R&D Expenses|R&D Expenses YoY|market_code| |---|---|---|---|---|---|---| |REE|REE.O|REE Automotive|2023 Q4|2.8587E7|55.1701677251262|186| |REE|REE.O|REE Automotive|2024 Q1|1.5358E7|-18.62880152590866|186| |REE|REE.O|REE Automotive|2024 Q2|8063000|-58.30273568805916|186| |REE|REE.O|REE Automotive|2024 Q3|1.2386E7|-21.92385274836107|186| 4. **Sales and Marketing Expenses**: The company's selling, general, and administrative expenses for Q3 2024 were $11.58 million, with an additional $5.79 million reported under the same category. This indicates that REE was investing heavily in sales and marketing efforts during the quarter. 5. **General and Administrative Expenses**: The selling, general, and administrative expenses for REE Automotive in Q3 2024 were $5.79 million. |code|Ticker|Name|Date|Selling, General, and Administrative Expenses|Selling, General, and Administrative Expenses YoY|market_code| |---|---|---|---|---|---|---| |REE|REE.O|REE Automotive|20231231|8125000|-13.453344695355774|186| |REE|REE.O|REE Automotive|20240331|7170000|-33.87438900673245|186| |REE|REE.O|REE Automotive|20240630|6931000|-14.29454680351181|186| |REE|REE.O|REE Automotive|20240930|5792000|-31.962880300716552|186| In summary, REE Automotive faced considerable financial challenges in Q3 2024, with a substantial decline in gross margin and significant increases in R&D and sales and marketing expenses, which could impact the company's short-term profitability and cash flow.