The company said, “Capital expenditures in the second quarter were $18.9M. Q2 capex primarily supported equipment purchases for 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 $134.5M and $123.0M respectively; Adjusted EBITDA loss was $72.5M in Q2. 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 ended Q2 with $938M in liquidity. We maintain our full-year 2024 guidance for Adjusted EBITDA loss to be between $250M and $300M and expect to be on the lower end of our capital expenditure guidance range of $70M to $120M.”
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