NKLA - Nikola Shares Higher Despite Weaker-Than-Expected Q3 Earnings: What's Going On? | Benzinga

Nikola Corp (NASDAQ: NKLA) reported Q3 FY23 sales of $(1.73) million, vs. $24.2 million a year ago, significantly missing the consensus of $13.3 million.

Nikola didn't produce any trucks in Q3, vs. 75 last year. It shipped 3 trucks, down from 63 in the same period in 2022.

Nikola said, to date, 35 customers have placed orders for over 277 hydrogen fuel cell electric trucks. The company specified that it received purchase orders for 47 battery-electric trucks from one dealer despite the truck being in recall.

The company's gross loss was $(125.5) million versus $(30.2) million a year ago. Adjusted EBITDA loss expanded to $(188.6) million from $(107.9) million a ...