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Nikola | DEFA14A: Others

SEC announcement · Feb 22 16:31

NKLA +7.35%

Summary by Moomoo AI

Nikola Corporation, a leader in zero-emission transportation, held its Fourth Quarter and Full Year 2023 earnings and business update call on February 22, 2024. The call, led by President and CEO Steve Girsky and Corporate Controller Brian DeHoog, highlighted the company's progress in deploying hydrogen fuel cell electric trucks and its financial performance. Nikola reported the production of 42 hydrogen fuel cell electric trucks in Q4, with 35 sold and 7 reserved for testing and demos. The company also noted a 99% share of California's HVIP vouchers for hydrogen fuel cell tractor trucks, emphasizing its market dominance. Nikola's battery-electric trucks are undergoing retrofitting with new battery packs and enhancements, with a return to customer operations expected by late Q2 or early Q3 2024. The company's liquidity position improved, with unrestricted cash reaching $464.7 million, and a reduction in cash use by approximately 35%. Nikola's first modular hydrogen fueling station opened in Ontario, California, with plans for further expansion. The company's 2023 gross loss was reported at negative $214.1 million, primarily due to the battery-electric truck recall. Net truck revenue for 2023 was $30.1 million, with additional revenue of $5.8 million from services and other sources. Looking ahead, Nikola anticipates delivering 300-350 hydrogen fuel cell electric trucks in 2024, with a revenue forecast between $150-$170 million. The company also addressed questions regarding its differentiation from competitors and clarified misinformation about the discontinued Badger program.

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This announcement is a separate document:

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