NASDAQ$NKLAQ

Nikola Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Nikola strengthened commercial and sales operations, advanced zero-emissions truck deployment, and progressed on energy business with partners.

Nikola Corporation reported a net loss per share of $0.46 and a non-GAAP net loss per share of $0.37 for Q4 2022. The company is advancing the deployment of zero-emissions trucks and making progress in its energy business, including partnerships for hydrogen supply and infrastructure development.

  • Reported GAAP net loss per share of $0.46 and non-GAAP net loss per share of $0.37 for Q4 2022.
  • Advancing deployment of zero-emissions trucks in fleets through innovative integrated mobility solutions.
  • On track to be first to market and commercialize fuel cell electric vehicles (FCEVs) with deliveries expected in Q4 2023.
  • Continued to execute on and build our energy business with partners.

Headline financials

Total Revenue

$6.56M

No prior period
EPS (adj)

-$11.10

Previous: -$6.90-60.9%
Adjusted EBITDA

-$167M

Previous: -$90.4M-84.5%
Capital Expenditures

$49.8M

Previous: $65.6M-24.0%
Free Cash Flow

-$195M

Previous: -$177M-10.0%
Net Income

-$222M

Previous: -$159M-39.3%
Operating Income

-$195M

Previous: -$163M-20.1%
Gross Profit

-$45.8M

No prior period
Cash & Equivalents

$233M

Previous: $497M-53.1%
Total Assets

$1.24B

Previous: $990M+24.9%
Stock-Based Comp

$44.2M

Previous: $53.7M-17.8%

Revenue & EPS history

Nikola · Revenue · Quarterly

$6.56M

Q4 2022
Beat estimate in 4 of 13 quarters(31%)
ActualEstimate

Revenue by segment

Nikola · $36K total across 1 segment · Q2 2020

  • Solar Revenues
    $36K

Forward guidance

Nikola plans to achieve several milestones in 2023, including completing the build of gamma FCEVs, realizing cost savings in battery modules, achieving a final investment decision for the Phoenix Hydrogen Hub, announcing refueling station partners, and delivering Tre BEVs and FCEVs.

Tailwinds

  • Complete the build of 10 gamma FCEVs by Q2 2023
  • Realize approximately $105,000 in cost savings in battery modules and packs for each Tre BEV truck by Q4 2023
  • Achieve Final Investment Decision for the Phoenix Hydrogen Hub by Q3 2023
  • Announce at least two refueling station partners by June
  • Deliver 250 – 350 Tre BEVs to dealers for the Full Year 2023

Headwinds

  • Deliver 125 – 150 Tre FCEVs in Q4 2023

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 Q4 2022

Historical avgQ4 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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