Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 193

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 193
---
 December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.

F-19

Table of Contents

REE AUTOMOTIVE LTD. AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

U. S. dollars in thousands (except share and per share data)

NOTE 3. INVENTORY

Inventory consisted of the following at December 31, 2024 and 2023, respectively:

                                          December 31, 2024                 December 31, 2023           
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
  Raw materials and work in progress      $                      3,075      $                      380  
  Finished goods                          —                                 83                          
  Total inventory                         $                      3,075      $                      463  

During the years ended December 31, 2024, 2023 and 2022 the Company recorded inventory write-downs of $ 2,276 1,970 zero

NOTE 4. OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES

Other accounts receivable and prepaid expenses consisted of the following at December 31, 2024 and 2023, respectively:

                              December 31, 2024                 December 31, 2023             
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Government authorities      $                      1,501      $                      1,369  
  Prepaid expenses                                   1,037                             3,181  
  Advances to suppliers                              4,587                             2,124  
  Other receivables           33                                285                           
  Total                       $                      7,158