2024-02-22 09:19:13 ET
Nikola Corp (NASDAQ: NKLA) is trading up in premarket on Thursday after reporting a narrower-than-expected loss for its fiscal fourth quarter.
How many vehicles did Nikola deliver in Q4
The electric vehicles company delivered 35 of its hydrogen fuel cell electric trucks in the recently concluded quarter.
Nikola Corp opened its first HYLA hydrogen refueling station in Ontario, California this month (find out more). Steve Girsky – its chief executive said in a press release today:
There are more requests for our fuel cell truck alone than all other truck OEMs combined on both battery and hydrogen fuel cell electric trucks in the same period.
$NKLA raised a little over $230 million in its Q4. Wall Street currently has a consensus “overweight” rating on the EV stock.
Nikola Q4 earnings snapshot
- Lost $0.15 million versus the year-ago $2.22 million
- Per-share loss also narrowed from 36 cents to 14 cents
- Adjusted loss printed at 11 cents as per the earnings report
- Revenue more than doubled year-on-year to $11.53 million
- Consensus was 13 cents a share loss on $13.16 million revenue
Nikola ended the quarter with $464.7 million in unrestricted cash. CEO Girsky also said on Thursday:
We are on track to start getting our battery-electric trucks back to end users by the end of the first quarter. We are making the most of our head start and capitalizing on our first-mover advantage.
This is a developing story. Check back in a few minutes for more updates!
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