FX.co ★ Nikola Corporation Q1 Loss Beats Estimates

Nikola Corporation, also known as NKLA, recently disclosed its first-quarter loss which surpassed the estimates predicted by Wall Street. It appears as though the corporation recorded a loss amounting to $147.22 million, resulting in a loss per share of $0.11. Comparatively, these figures saw a slight margin increase from last year's first-quarter losses, which were $145.25 million, equating to a loss per share of $0.26.

When excluding certain items, Nikola Corporation's adjusted loss for the first quarter was $116.90 million, or a loss per share of $0.09. On average, financial analysts predicted a loss per share of $0.10 according to data compiled by Thomson Reuters. It's important to note, however, that these estimates usually exclude special items.

Reflecting on the quarter's revenue, the company noted a decrease. The quarter saw a 29.8% fall, from the previous year's $10.68 million to this year's $7.50 million.

When focusing on the general accepted accounting principles (GAAP), the quarterly overview for the Nikola Corporation was as follows:

- Loss for Q1 was $147.22 million compared to last year's $145.25 million.

- Loss per share for Q1 was $0.11 compared to last year's $0.26.

- Revenue for Q1 was $7.50 million compared to last year's $10.68 million.