Nikolaone start electric truck manufacturer with very, uh, colorful past, announced its third-quarter financial results on Thursday, as public companies are required to do. Nikola reported $24.2 million in revenue for the quarter, which isn’t great for a company with a market capitalization of around $1.3 billion, but that revenue figure is actually slightly higher. compared to Wall Street’s expectations.
Nikola also said it has delivered 111 electric Bamboo trucks this year and will fall short of its goal of delivering at least 300 by the end of the year. Making cars is hard, etc. More interestingly, that’s what Nikola executives didn’t say, through the Reuters:
The company expects to deliver between 300 and 500 Bamboo battery electric vehicles this year by collecting cash from the switch to electric trucks by logistics companies looking to cut ownership costs and meet meet sustainability goals.
CEO Nikola said in a conference call with analysts after the third-quarter results that they would not provide fourth-quarter and full-year forecasts.
In other words, Nikola has given up on guessing how production will go this year, probably because we’re a month into the fourth quarter and Nikola knows things won’t go so well. . It could also be because it will miss the previously stated goal and it is not fun to make predictions about your company that you later have to admit to having missed the target.
As a matter of fact, since Nikola seems to be a lesser version of itself than it was years ago, as mythical predictions became more common, perhaps Nikola learned that at the end of the day the That prediction itself is pointless. At the end of the day, you have to make the product, which is easy enough to count, and then everyone can see how Nikola really did it.
