FREYR Battery Posts Wider Loss In Q3

(RTTNews) - FREYR Battery (FREY) reported a net loss for the third quarter of $93.9 million or $0.80 per share compared to a net loss of $45.4 million or $0.42 per share, a year ago. The company noted that the net loss in the third quarter of 2022 was due in part to a non-cash $70.3 million loss on the fair value adjustment to warrant liability.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.30, for the quarter. Analysts' estimates typically exclude special items.

As of September 30, 2022, the company had cash, cash equivalents, and restricted cash of $418.6 million.

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