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Nikola | 424B3: Prospectus

SEC announcement ·  Feb 28 17:14
Summary by Moomoo AI
Nikola Corporation, a designer and manufacturer of heavy-duty commercial battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs), as well as energy infrastructure solutions, has reported its financial results for the fiscal year ended December 31, 2023. The company's financial statements reveal a net loss from continuing operations of $864.6 million, with an additional net loss from discontinued operations of $101.7 million, leading to a total net loss of $966.3 million for the year. Despite the losses, Nikola has made significant strides in its business operations, including the commencement of commercial production of the Tre BEV and Tre FCEV trucks, and the development of hydrogen fueling infrastructure. The company's financial position includes cash and cash equivalents of $464.7 million. Nikola's financial...Show More
Nikola Corporation, a designer and manufacturer of heavy-duty commercial battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs), as well as energy infrastructure solutions, has reported its financial results for the fiscal year ended December 31, 2023. The company's financial statements reveal a net loss from continuing operations of $864.6 million, with an additional net loss from discontinued operations of $101.7 million, leading to a total net loss of $966.3 million for the year. Despite the losses, Nikola has made significant strides in its business operations, including the commencement of commercial production of the Tre BEV and Tre FCEV trucks, and the development of hydrogen fueling infrastructure. The company's financial position includes cash and cash equivalents of $464.7 million. Nikola's financial performance is influenced by various factors such as production and shipment volumes, recall campaigns, and strategic partnerships. The company has also faced legal and regulatory actions, including a settlement with the SEC and ongoing shareholder litigation. Nikola's management has acknowledged the material weaknesses in internal control over financial reporting and is taking steps to remediate these issues. The company's stock has experienced volatility, and Nikola continues to focus on scaling production, servicing vehicles, and establishing energy infrastructure to support its growth strategy.

This announcement is a separate document:

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