TuSimple Announces Second Quarter 2022 Results

• Announced leadership changes with the addition of two key positions as we continue transitioning from testing to commercialization and, ultimately wide deployment of autonomous trucking technology
• Expanded our patent portfolio with 37 new patents as we continue to focus on technologies to support efficient commercial AV operations
• Announced our partnership with global logistics leader, Hegelmann Group
• Enhanced our government affairs and advocacy efforts
• Updated 2022 adjusted EBITDA, stock-based compensation, CapEx and ending cash balance guidance

SAN DIEGO, Aug. 2, 2022 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global self-driving technology company based in San Diego, California, has released unaudited financial results for the second quarter ending June 30th, 2022. TuSimple's complete quarterly financial results and management commentary can be accessed through the company's shareholder letter on the quarterly results page of the investor relations website at ir.tusimple.com.

"The progress we have made over the last few years is significant. We have built a first-class team from the ground up and created a safety-first culture to develop our industry-leading technology," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "The next 2 - 3 years is all about bringing efficiency into everything that we do and we are confident in our ability to deliver advanced autonomous trucking at a commercial scale to build a safer, more efficient, and sustainable future on the road."

What: TuSimple Q2 2022 Earnings Conference Call
When: Tuesday, August 2, 2022
Time: 2 p.m. PDT/ 5 p.m. EDT

The conference call will be webcast live on TuSimple's Investor Relations website at ir.tusimple.com or by clicking here.

A replay of the call will be available on the Investor Relations website at ir.tusimple.com.

About TuSimple
TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to drive safely autonomously, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks.  Global achievements include the world's first fully autonomous, 'driver-out' semi-truck run on open public roads, and development of the world's first Autonomous Freight Network (AFN).  Visit us at www.tusimple.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tusimple-announces-second-quarter-2022-results-301598307.html

SOURCE TuSimple Holdings, Inc.

Copyright 2022 PR Newswire