share_log

Nikola | 8-K: Nikola Corporation Reports Third Quarter 2024 Results

SEC ·  Oct 31, 2024 21:10

Summary by Moomoo AI

Nikola delivered a record 88 hydrogen fuel cell electric trucks (FCEVs) in Q3 2024, up 22% QoQ, while expanding its dealer network. The company reported total revenues of $25.2M and a net loss of $199.8M. FCEV fleet adoption increased 78% year-to-date with 16 end fleets now deploying Nikola FCEVs.The HYLA hydrogen fueling network has completed over 5,900 fueling events, dispensing more than 210 metric tons of hydrogen. The company expects to deliver 10 HYLA fueling solutions by year-end and maintains its guidance of 300-350 FCEV deliveries for 2024. Hydrogen dispensing has grown nearly 350% year-to-date.The company has successfully returned 78 BEV "2.0" trucks to service, with 19 end fleets accumulating over 715,000 road miles. Financial results show $198.3M in cash and cash equivalents, with operating expenses of $116.8M including a $33.4M impairment charge.
Nikola delivered a record 88 hydrogen fuel cell electric trucks (FCEVs) in Q3 2024, up 22% QoQ, while expanding its dealer network. The company reported total revenues of $25.2M and a net loss of $199.8M. FCEV fleet adoption increased 78% year-to-date with 16 end fleets now deploying Nikola FCEVs.The HYLA hydrogen fueling network has completed over 5,900 fueling events, dispensing more than 210 metric tons of hydrogen. The company expects to deliver 10 HYLA fueling solutions by year-end and maintains its guidance of 300-350 FCEV deliveries for 2024. Hydrogen dispensing has grown nearly 350% year-to-date.The company has successfully returned 78 BEV "2.0" trucks to service, with 19 end fleets accumulating over 715,000 road miles. Financial results show $198.3M in cash and cash equivalents, with operating expenses of $116.8M including a $33.4M impairment charge.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Related Stocks Related Stocks
    Symbol Mini Chart Price
    CEA Industries
    CEAD
    -- 11.0000
    AGCO Corp
    AGCO
    -- 98.050
    Huachen AI Parking Management Technology
    HCAI
    -- 4.090
    Deere
    DE
    -- 480.220
    CNH Industrial
    CNH
    -- 12.810
    Log In for the Full List
    Reassessing Chinese Assets
    Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.
    Discussing
    Big Tech’s earnings season in full swing! Nvidia is the only one left
    On Thursday, $Amazon (AMZN.US)$ stock fell after the firm reported Q4 adjusted earnings of $1.86/share, vs estimates of $1.50/share, on reve Show More
    AMZN earnings preview: Grab rewards by guessing the opening price!