EV startup Canoo is facing significant financial challenges, including a warning about its future due to dwindling cash reserves. The company reported a substantial loss, with revenue falling short of expectations. Canoo generated just $367K in revenue from 17 completed vehicles, against an expected $700K, and has adjusted its 2024 revenue forecast to between $50M-$100M, significantly lower than the $153M analysts anticipated. This disappointing guidance has led to a sharp decline in Canoo's stock, with a -36% drop after hours and a 26% drop after the fourth-quarter earnings announcement. Additionally, it was revealed that Canoo spent double its annual revenue on the CEO’s private jet in 2023, exacerbating concerns about the company's financial management and priorities amid a broader slowdown in demand for battery-powered cars.