- Nikola Corp (NASDAQ:NKLA) reported second-quarter FY22 sales of $18.13 million, beating the consensus of $16.46 million.
- The company delivered 48 Tre BEVs and four Mobile Charging Trailers (MCT) in the quarter.
- Two additional Tre BEVs were delivered in the first week of July, which will be reported as part of Q3 revenues.
- The company incurred a gross loss for the quarter of $(29.3) million. Operating loss for the quarter widened to $(172.2) million.
- Adjusted EBITDA loss widened to $(94.3) million versus $(73.9) million last year.
- EPS loss of $(0.25) beat the analyst consensus of $(0.28).
- The company held $529.22 million in cash and equivalents as of June 30, 2022.
- On August 3, the company announced it had made significant progress in partnership with TravelCenters Of America Inc (NASDAQ:TA) on the first hydrogen dispensing station in Ontario, California.
- Nikola also revealed the locations of three California hydrogen stations to scale up its long-term hydrogen distribution solutions.
- Outlook: Nikola said it remains on track for Tre BEV trucks delivery of 300 – 500 in 2022.
- Price action: NKLA shares are trading higher by 4.01% at $7.78 on the last check Thursday.
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