The company states: “Capital expenditures in the first quarter were $14.1M. Q1 capex primarily supported low volume QSE-5 prototype production, as well as the Cobra process and other equipment as we prepare for higher volume QSE-5 prototype production in 2025. GAAP operating expenses and GAAP net loss were $131.9M and $120.6M respectively; Adjusted EBITDA loss was $76.2M in Q1. A table reconciling GAAP net loss and Adjusted EBITDA loss can be found in the financial statements at the end of this shareholder letter. We maintain our full-year 2024 guidance for capital expenditures to be between $70M and $120M and for Adjusted EBITDA loss to be between $250M and $300M.”
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