TuSimple's Q1 net loss narrows year-over-year to US$111.9M from US$385.2M; revenue up 140% to US$2.3M from US$944,000 due to a higher number of revenue-generating trucks, increases in revenue miles and rate/mile rates as well as customer mix improvements

SAN DIEGO , May 18, 2022 (press release) –

TuSimple Announces First Quarter 2022 Results

• Continued Driver Out operations including refinement of our Minimum Risk Condition capabilities which are critical to removing support vehicles from our operations
• Announced an advanced integration with Werner Enterprises to provide roadside service and support
• Expanded our dedicated AFN terminal footprint to Ryder facilities in Houston and Laredo preparing for Driver Out operations in Texas

 TuSimple (Nasdaq: TSP), a global self-driving technology company based in San Diego, California, has released unaudited financial results for the first quarter ending March 31, 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.

"During Q1, we made strong progress on our technology development including a continuation of our Driver Out operations," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "TuSimple has entered the Driver Out era. In this new era, we are focusing on increasing efficiency through expanding our operational design domain and optimizing our operations so we can deliver a world class product to our customers."

What: TuSimple Q1 2021 Earnings Conference Call
When: Tuesday, May 3, 2022
Time: 2 p.m. PST/ 5 p.m. EST

To Listen via Telephone:
Conference Topic: TuSimple Q1 2021 Earnings Conference Call
Conference ID: 9028484
US/CANADA (Toll-Free) Number: +1 (833) 519-1404
International (Paid) Number: +1 (270) 215-9738
To Listen via Internet: 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.

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SOURCE TuSimple Holdings, Inc.

TuSimple Investor Relations Contacts: Ryan Amerman, ryan.amerman@tusimple.ai; Lauren Harper, lauren.harper@tusimple.ai; TuSimple Media Contact: Natasha Matis,Natasha.Matis@tusimple.ai

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