Wejo targets under $3M in cash burn by end of 2023

John Maxwell, Chief Financial Officer, said, "We are making significant progress on our efforts to capitalize the business to reach our projected cash flow breakeven point. In addition to strong progress on our PIPE efforts with strategic investors, we are working to raise capital that will bridge us to these transactions. We reduced our monthly cash burn by 40% from the start to the end of 2022, and we are targeting another 50% reduction in our cash burn to get to under $3 million by the end of 2023. Our focus on reduced cash burn, the deployment of our long-term capital strategy and continued strong revenue performance are key steps to fully funding Wejo to cash flow breakeven in mid-2024."