NASDAQ$NKLAQ
Nikola Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported financial results and business updates.
Nikola Corporation reported Q3 2023 results, raising $250M and increasing unrestricted cash by $136.2M. The company continues to see strong demand for zero-emissions trucks, with 277 non-binding orders for hydrogen fuel cell electric trucks. Customer demos have started in Southern California, accumulating more than 6,000 miles with 98% uptime.
- Raised $250M, increasing unrestricted cash by $136.2M, and tripling unrestricted cash since Q1 2023.
- Received purchase orders for 47 battery-electric trucks from one dealer despite the truck being in recall.
- Received 277 non-binding orders from 35 customers for the hydrogen fuel cell electric truck.
- Hydrogen fuel cell electric demos started in Southern California using mobile fueler and third-party fueling assets.
Headline financials
Revenue & EPS history
Nikola · Revenue · Quarterly
-$1.73M
Revenue by segment
Nikola · $36K total across 1 segment · Q2 2020
- Solar Revenues$36K—100.0%
Forward guidance
The press release contains forward-looking statements regarding Nikola's future financial and business performance, business plan, strategy, and opportunities. These statements are subject to risks and uncertainties.
Tailwinds
- Expectations with respect to customer demand for trucks
- Beliefs regarding competition and competitive and first-mover advantage
- Expectations regarding hydrogen supply and plans to secure adequate hydrogen supply
- Expectations regarding customer demand related to such incentives
- Company's sales efforts
Headwinds
- Design and manufacturing changes and delays, including global shortages in parts and materials
- General economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets
- The effects of inflation and COVID-19
- The outcome of legal, regulatory and judicial proceedings
- Risks related to the recall, including higher than expected costs, the discovery of additional problems, delays retrofitting the trucks and delivering such trucks to customers, supply chain and other issues that may create additional delays, order cancellations as a result of the recall, litigation, complaints and/or product liability claims, and reputational harm
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 Q3 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% | — | — |
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