Benzinga | Aug 12, 2021 08:56AM EDT

Arrival Q2 Loss Widens On Higher Expenses

* Arrival SA (NASDAQ:ARVL) reported a second-quarter FY21 net loss that widened to (euro)(38.6) million.

* The operating loss increased Y/Y to (euro)(41.6) million.

* The company held (euro)445 million in cash and equivalents as of June 30, 2021.

* Adjusted EBITDA loss was (euro)(35) million, versus (euro)(12) million last year. EBITDA loss widened to (euro)(29) million.

* Administrative expenses were (euro)35 million, and not capitalised R&D expenses were (euro)6 million.

* "We are delighted to have announced our current non-binding Orders and LOIs total 59k vehicles with the most recent addition in India for our Bus platform," said CEO Denis Sverdlov.

* Price Action: ARVL shares are trading lower by 0.78% at $12.70 in premarket on the last check Thursday.