Nikola published on Tuesday its financial results for the first quarter of the year, reporting a decline in total revenues and a non-GAAP net loss per share of $0.09.
The adjusted EBITDA loss came at $104 million while operating loss reached $145.4 million.
Nikola produced 43 trucks in the first quarter of which 40 were shipped. Production declined year over year from 63 units wile shipments increased from 31. The company will now host the earnings conference call at 10:30 a.m. ET.
In the first quarter, Nikola wholesaled 40 FCEVs, surpassing the high-end of the guidance range. This marks the second quarter of serial production of FCEVs for Nikola, bringing the total wholesaled FCEVs to 75.
Nikola’s market expansion includes the opening of HYLA hydrogen modular refueling stations in Ontario and near the Port of Long Beach, California, as well as HYLA’s first hydrogen refueling station in Alberta, Canada.
Steve Girsky, CEO of Nikola, emphasized the company’s focus on execution, stating, “We continue to move forward rapidly and execute our plans. And please keep that in mind – we are in the execution phase, not the planning or concepting phase.”
He highlighted the progress made in the previous quarter, from initial deliveries of hydrogen fuel cell electric trucks to actively competing and expanding into new markets.
Shares of Nikola are trading 1.60 percent higher at $0.649 following the results.
