FREYR Battery Announces Third Quarter 2024 Financial Results

Summary

On November 6, 2024, FREYR Battery, Inc. announced its financial results for the third quarter of 2024. The company reported a net loss of $27.5 million for Q3 2024, compared to a net loss of $9.8 million in Q3 2023. The increase was primarily due to a $1.1 million warrant liability fair value adjustment and a $4.5 million restructuring charge. As of September 30, 2024, the company had cash, cash equivalents, and restricted cash of $184.1 million with no debt.