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Nikola | 424B3: Prospectus

SEC announcement ·  Feb 28 22:27
Summary by Moomoo AI
Nikola Corporation, a designer and manufacturer of heavy-duty commercial fuel cell electric vehicles (FCEVs) and battery electric vehicles (BEVs), as well as energy infrastructure solutions, has released its annual financial report for the year ending December 31, 2023. The report includes a comprehensive overview of the company's financial performance, including revenues, cost of revenues, operating expenses, and net loss. The company reported revenues from truck sales and service, with a decrease in truck sales revenue due to a hold on new BEV truck shipments following a voluntary recall. The cost of revenues increased significantly, primarily due to the recall campaign costs. Research and development expenses decreased, while selling, general, and administrative expenses also saw a decrease. The company experienced a...Show More
Nikola Corporation, a designer and manufacturer of heavy-duty commercial fuel cell electric vehicles (FCEVs) and battery electric vehicles (BEVs), as well as energy infrastructure solutions, has released its annual financial report for the year ending December 31, 2023. The report includes a comprehensive overview of the company's financial performance, including revenues, cost of revenues, operating expenses, and net loss. The company reported revenues from truck sales and service, with a decrease in truck sales revenue due to a hold on new BEV truck shipments following a voluntary recall. The cost of revenues increased significantly, primarily due to the recall campaign costs. Research and development expenses decreased, while selling, general, and administrative expenses also saw a decrease. The company experienced a net loss from continuing operations, with additional loss from discontinued operations following the deconsolidation of subsidiary Romeo Power, Inc. The report also covers legal proceedings, commitments and contingencies, and the effectiveness of internal control over financial reporting, which was deemed ineffective due to a material weakness. The company's stock price is subject to volatility, and it has never paid dividends on its capital stock, with no plans to do so in the foreseeable future.

This announcement is a separate document:

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