Nikola's quarterly results beat expectations on deliveries of 63 electric semitrucks

Electric dense motortruck shaper Nikola said that it produced 75 trucks successful the 3rd quarter, and delivered 63 to dealers earlier quarter-end, generating capable gross to bushed Wall Street's expectations.

The quality was included successful Nikola's third-quarter net report, released connected Thursday morning. Here are the cardinal numbers, compared with Refinitiv statement estimates:

• Adjusted nonaccomplishment per share: 28 cents vs. 39 cents expected
• Revenue: $24.2 cardinal vs. $22.1 cardinal expected

Shares of Nikola gained 2% successful premarket trading.

CEO Michael Lohscheller said that Nikola made "significant advancements" successful gathering retired a hydrogen refueling web up of the planned motorboat of its fuel-cell-powered trucks adjacent year. The institution said past period that it's moving to person entree to up to 300 metric tons of hydrogen state per day, arsenic it aims to person 60 refueling stations up and moving by 2026.

Nikola said it's connected way to implicit 17 "beta", oregon pre-production, substance compartment trucks by the extremity of 2022. The institution built 6 successful the 3rd quarter; those trucks volition beryllium utilized for aviator tests with Walmart and different truck-fleet operators.

Nikola said Thursday that it had astir $404 cardinal successful currency connected manus arsenic of the extremity of the quarter, down from astir $587 cardinal arsenic of June 30. The institution said that full included $100.5 cardinal raised via an "at-the-market" banal offering.

Nikola filed a registration connection successful August that allows it to raise a full of $400 million via income of caller banal from clip to time.

Nikola completed the acquisition of 1 of its battery-pack suppliers, Romeo Power, successful October. Nikola said that bringing Romeo's operations in-house could prevention it up to $350 cardinal implicit the adjacent 4 years. The motortruck shaper paid $144 cardinal successful banal – nary currency – for Romeo.

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