NASDAQ$NKLAQ
Nikola Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results and business updates for the quarter ended June 30, 2023.
Nikola Corporation reported increased unrestricted cash by $107.1 million, while also substantially reducing spending. The company delivered 45 wholesale and 66 retail battery-electric trucks. Serial production of the hydrogen fuel cell electric truck began July 31, with first customer deliveries expected in September.
- Continued building sales momentum delivering 45 wholesale and 66 retail battery-electric trucks, the best retail quarter to date
- Increased unrestricted cash position by $107.1 million while substantially reducing adjusted free cash flow to below $150 million target for the quarter
- Raised $233.2 million through capital raise and asset monetization, and improved visibility into future capital needs to fully fund the business model
- Began serial production of the hydrogen fuel cell electric truck July 31; first customer deliveries expected in September
Headline financials
Revenue & EPS history
Nikola · Revenue · Quarterly
$15.4M
Revenue by segment
Nikola · $36K total across 1 segment · Q2 2020
- Solar Revenues$36K—100.0%
Forward guidance
Nikola is focused on executing its business plan and achieving profitability, delivering trucks to customers at scale, and making the most of its first mover advantage in the hydrogen refueling ecosystem
Tailwinds
- Continuing to build sales momentum
- Increasing cash position
- Decreasing cash use
- Began serial production of the hydrogen fuel cell electric truck
- Continued hydrogen refueling ecosystem development with partners
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q2 2023
+211.7%
Avg return
Earnings day
-12.0%
Avg return
5 days after
-20.4%
Avg return
30 days after
41%
11 / 27 earnings
Positive
+2900.0%
Q3 2019
Best reaction
-29.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2024 | +3.3% | -24.1% | -1.9% | |
| Q3 2024 | -11.1% | -24.4% | -54.2% | |
| Q2 2024 | +2.8% | -1.0% | -32.3% | |
| Q1 2024 | -9.1% | -10.3% | -20.8% | |
| Q4 2023 | +8.8% | +8.1% | -5.8% | |
| Q3 2023 | +8.6% | -1.0% | -6.8% | |
| Q2 2023 | -29.7% | -43.0% | -65.6% | |
| Q1 2023 | -18.8% | -22.4% | -38.9% | |
| Q4 2022 | -4.7% | -4.8% | -36.1% | |
| Q3 2022 | -10.3% | -15.1% | -13.9% | |
| Q2 2022 | +7.6% | -7.1% | -29.8% | |
| Q1 2022 | -6.3% | -22.7% | -7.4% | |
| Q4 2021 | +15.7% | +12.0% | +48.4% | |
| Q3 2021 | +3.4% | — | — | |
| Q2 2021 | -5.2% | — | — | |
| Q1 2021 | +11.0% | — | — | |
| Q4 2020 | -14.5% | — | — | |
| Q3 2020 | -7.9% | — | — | |
| Q2 2020 | -4.0% | — | — | |
| Q1 2020 | -3.6% | — | — | |
| Q4 2019 | -20.0% | — | — | |
| Q3 2019 | +2900.0% | — | — | |
| Q2 2019 | +2900.0% | — | — | |
| Q1 2019 | +0.0% | — | — | |
| Q4 2018 | +0.0% | — | — | |
| Q3 2018 | +0.4% | — | — | |
| Q2 2018 | +0.0% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro