Reported 26 days ago
Nikola announced a larger-than-expected quarterly loss of $2.75 per share, causing its shares to drop over 5%. The company continues to face high costs while ramping up production of hydrogen fuel-cell trucks. Despite a 22% increase in deliveries from the previous quarter, Nikola's revenue of $25.2 million fell short of expectations. The company maintained its production forecast for 300-350 trucks this year, but its cash reserves decreased significantly from $464.7 million to $198.3 million.
Source: YAHOO