Nikola ($NKLA) Posts Q4 Revenue of $11.5 Million, Showing a 76% YoY Surge, Slightly Missing Estimated $13.2 Million

Key highlights:

Nikola ($NKLA) reported Q4 revenue of $11.5 million, marking a 76% year-over-year increase, slightly below the estimated $13.2 million.

Adjusted loss per share was $0.11, a significant improvement from the $0.37 loss per share in the same period last year, but slightly higher than the estimated $0.13 loss per share.

The adjusted EBITDA loss was $102.0 million, showing a 39% year-over-year decrease, but surpassing the estimated loss of $93.1 million.

Operating loss for Q4 amounted to $127.8 million, indicating a 35% year-over-year reduction, albeit slightly above the estimated loss of $115 million.

Nikola’s cash and cash equivalents stood at $464.7 million, reflecting the company’s financial position at the end of the quarter.

Nikola Corporation’s Q4 results portray a mixed financial performance. The company reported a revenue of $11.5 million, exhibiting a commendable 76% year-over-year growth. However, this figure fell short of market expectations, which were estimated at $13.2 million. Despite this, Nikola demonstrated a positive trajectory in its adjusted loss per share, recording $0.11 compared to the $0.37 loss per share in the same period the previous year. Although this improvement is noteworthy, it narrowly missed the estimated loss per share of $0.13.

The adjusted EBITDA loss for Q4 was $102.0 million, revealing a significant 39% reduction from the previous year. Although this is a positive trend, the result exceeded the estimated loss of $93.1 million. Operating loss also witnessed a notable decline, reaching $127.8 million, down 35% from the prior year. However, similar to other metrics, this figure slightly surpassed the estimated loss of $115 million.

On a positive note, Nikola maintained a robust financial position with cash and cash equivalents amounting to $464.7 million. This liquidity is crucial for sustaining operations, investments, and potential growth initiatives.

In summary, while Nikola showcased notable improvements in certain financial aspects, it fell short of market expectations across revenue, adjusted loss per share, and EBITDA. The company’s ability to enhance its financial performance in key areas will likely be closely monitored by investors and industry observers in the coming quarters.