TuSimple (TSP) Reports Q1 Loss of $6.43; Offers FY21 Revenue Outlook

TuSimple (NASDAQ: TSP) reported Q1 EPS of ($6.43), versus ($0.45) reported last year. Revenue for the quarter came in at $944 thousand, versus $259 thousand reported last year.

Link to 1Q Earnings Presentation

TuSimple President and CEO, Cheng Lu, commented, "TuSimple continued to gain momentum throughout Q1 2021 by refining our proprietary artificial intelligence technology and designing our purpose-built L4, Class 8 truck with Navistar. Alongside these technology developments, we led the industry in building autonomous vehicle ecosystem partnerships and expanded our Autonomous Freight Network."

Lu continued, "In April, we became the first autonomous driving company to list on a stock exchange. The $1 billion of growth capital we raised through our IPO provides us with a substantial runway to focus on our technology and continue our industry leadership in autonomous trucking. With this capital, we are more confident than ever that we will achieve our mission to bring a reliable, low-cost trucking solution to market while setting a new standard for safety and efficiency."

GUIDANCE:

TuSimple sees FY2021 revenue of $5-7 million.

For earnings history and earnings-related data on TuSimple (TSP) click here.

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