Nikola Corporation
Financial Performance
Nikola Revenue & Financials
Revenue
$35.8M (FY2023)
What is Nikola's revenue?
Nikola had $35.8M in revenue for fiscal year 2023, down 29.5% from 2022. It reported a net loss of $966.3M.
- Latest revenue
- $35.8M (FY2023)
- Year-over-year
- -29.5%
- Growth rate (CAGR)
- 190.6% over 5 years
- Peak revenue
- $50.8M (FY2022)
- Years of data
- 5
- How much profit does Nikola make?
- Nikola reported a net loss of $966.3M for fiscal year 2023. nasdaq.com
Financial Analysis
Nikola never came close to profitability. Revenue peaked at $49.7 million in 2022 (continuing operations, as restated) and fell to $35.8 million in 2023, when it shipped 114 trucks and posted a $966.3 million net loss. In Q3 2024 revenue was $25.2 million and the net loss from continuing operations was $199.8 million. The company relied on equity raises, a 1-for-30 reverse stock split in June 2024 and other capital measures, but it could not find enough funding and filed for Chapter 11 in February 2025. Its stock was delisted from Nasdaq, and the confirmed liquidation plan left no value for common shareholders. Nikola Corporation operates as a highly distressed American manufacturer of heavy-duty commercial battery-electric and fuel-cell electric vehicles, suffering a massively reduced valuation following severe founder scandals.
Revenue Trend Analysis
YoY Change
-29.5%
5-Year CAGR
+190.6%
Peak Year
2022
Trend
Declining Trend
Nikola Corporation has 5 full fiscal year figures on this page, compounding at +190.6% annually over 5 years. The most recent year saw a 29.5% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $50.8M. Of 3 comparable year-over-year steps, 1 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2023 | $35.8M | -$966.3M | -29.5% | Nikola Corporation Q4 and full year 2023 results (February 22, 2024) Fiscal year ended 2023-12-31. Truck sales $30.1M, service and other $5.8M; 114 trucks shipped. FY2022 restated to $49.7M (continuing operations). |
| FY2022 | $50.8M | -$784.2M | — | Nikola Corporation annual report (Form 10-K, SEC EDGAR, filed 2023-05-12) Fiscal year ended 2022-12-31. |
| FY2020 | $95,000 | -$370.9M | -80.3% | Nikola Corporation annual report (Form 10-K, SEC EDGAR, filed 2023-05-12) Fiscal year ended 2020-12-31. |
| FY2019 | $482,000 | -$88.7M | +178.6% | Nikola Corporation annual report (Form 10-K, SEC EDGAR, filed 2022-02-24) Fiscal year ended 2019-12-31. |
| FY2018 | $173,000 | -$64.3M | — | Nikola Corporation annual report (Form 10-K, SEC EDGAR, filed 2021-05-06) Fiscal year ended 2018-12-31. |
Click any row to see year details.
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Nikola Revenue and Financial FAQ
What was Nikola's revenue in 2023?
Nikola reported 2023 revenue of $35.8 million ($30.1 million from trucks and $5.8 million from service and other) and a net loss of $966.3 million. It shipped 114 trucks that year.
How much did Nikola lose?
Nikola's net losses were $690.4 million in 2021, $784.2 million in 2022 and $966.3 million in 2023. In Q3 2024 alone it lost $199.8 million from continuing operations.
What were Nikola's last reported quarterly results?
In Q3 2024 Nikola reported revenue of $25.2 million and a net loss from continuing operations of $199.8 million. It filed for bankruptcy in February 2025 without publishing full-year 2024 results.
Why did Nikola do a 1-for-30 reverse stock split?
Nikola completed a 1-for-30 reverse split in June 2024 to lift its share price back above Nasdaq's $1 minimum bid requirement after years of dilution.
How much did the 2023 battery truck recall cost Nikola?
The recall of its Tre BEV fleet after battery fires added substantial warranty and retrofit costs and delayed sales in 2023 and 2024, adding to already negative gross margins.
Is Nikola stock worth anything?
No. After the February 2025 Chapter 11 filing, Nikola was delisted from Nasdaq, and its liquidation plan, effective December 12, 2025, gave common shareholders no recovery.
How much did Nikola raise from its SPAC merger?
Nikola's June 2020 merger with VectoIQ, which included a PIPE investment, raised about $700 million in gross proceeds. Within weeks, Nikola's market value briefly passed Ford's.
How much did Lucid pay for Nikola's assets?
Lucid paid about $30 million in cash and non-cash consideration in April 2025 for Nikola's Coolidge factory, Phoenix headquarters lease and manufacturing equipment.
How do California HVIP government subsidies support Nikola's truck sales?
California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) provides commercial fleet buyers with point-of-sale vouchers between $120,000 and $288,000 per Class 8 hydrogen truck. These state incentives drastically reduce the net purchase price of a Nikola Tre FCEV, making it price-competitive with traditional diesel rigs.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Nikola Revenue & Financials." CorpDigest, https://corpdigest.com/company/nikola-corporation/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Nikola reported $35.8M in revenue (FY2023).</strong><br>Source: <a href="https://corpdigest.com/company/nikola-corporation/financials" target="_blank" rel="noopener">CorpDigest — Nikola financials</a></div>Related Financial Audits
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