Freyr Battery reports Q3 EPS (7c), consensus (31c)

“Freyr is positioning the company for the current capital markets environment by prioritizing balance sheet strength, liquidity runway, and strategic agility tied to real options. Having ended 3Q 2023 with $328M of cash and no debt, the company expects to exit 2023 with cash of approximately $250M after satisfying its remaining commitments and fourth quarter overhead. FREYR has begun to implement cost rationalization initiatives, which include rightsizing the organization, which are expected to result in total 2024 cash uses of less than half that of 2023, aligned with our strategic priorities, equating to a cash runway of two-plus years.”