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Nikola Corp. culminated a tumultuous third quarter by reporting continued losses, but executives insist the company remains in a strong cash position and cited progress on its milestones — in particular the completion of the first Nikola Tre electric semi-truck prototype.
The Phoenix-based maker of battery- and hydrogen-powered vehicles reported a net loss of $117.45 million for the quarter, with an adjusted earnings loss of 16 cents per share, slightly better than Wall Street's anticipated 20-cent loss.
The company ended the quarter with $908 million in cash.
The regulatory earnings report was released after markets closed on Monday.
