NKLA - Nikola Q2 results beat co says on track to deliver 300-500 production Tre BEV trucks in 2022

• Nikola ( NASDAQ: NKLA ): Q2 Non-GAAP EPS of -$0.25 beats by $0.02 .
• Revenue of $18.13M beats by $1.55M .
• Q2 adj. EBITDA loss $94.35M vs. loss $73.91M last year.
• NKLA says remains on track to deliver 300 to 500 production Tre BEV trucks in 2022.
• In Q2, co produced 50 Nikola Tre BEVs in Coolidge, Arizona, and delivered 48 to dealers.
• Two additional Tre BEVs were delivered in the first week of July, which will be reported as part of Q3 revenues.
• In Q2, stockholders approved proposal 2 increasing authorized shares from 600M to 800M.
• In Q2, co began Tre FCEV alpha pilot testing with TTSI in Southern California. As of Aug. 4, the trucks have accumulated over 3.8K miles. Co expects to begin FCEV pilot testing with Walmart ( WMT ) in Southern California on Aug. 22.
• NKLA says is ramping up production capacity in Coolidge, Arizona. NKLA expects to increase its throughput to five units per shift by Nov. Phase 2 expansion is underway and on track to be completed by Q1 2023.
• Press release
• Shares +2.7% in premarket trading.

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