• Nikola Corp (NASDAQ: NKLA) reported fourth-quarter FY22 sales of $6.56 million Thursday, missing the consensus of $32.13 million.

• The company delivered 20 Tre BEVs in Q4.

• Operating loss for the quarter deteriorated to $(195.4) million from $(162.7) million a year ago.

• Adjusted EBITDA loss widened to $(166.8) million versus $(90.9) million last year.

• Adjusted EPS loss of $(0.37) beat the consensus of $(0.43).

• The company held $244 million in cash and equivalents.

• “As a whole, we made significant progress on both the truck and energy infrastructure fronts. The advances we have made on battery charging and hydrogen solutions with strategic partners, and the unveiling of our hydrogen mobile fueler under the HYLA brand, will allow Nikola to provide fully integrated mobility solutions to customers for both the BEV and FCEV,” said Nikola CEO, Michael Lohscheller.

• Outlook: Nikola expects to complete the build of 10 gamma FCEVs by Q2 2023.

• Nikola proposed to deliver 250 – 350 Tre BEVs to dealers for the FY23 and 125 – 150 Tre FCEVs in Q4 2023

• Price action: NKLA shares are trading lower by 7.51% at $2.16 on the last check Thursday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Why Nikola (NKLA) Shares Are Falling Today originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.