Nikola Corporation
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Financial Performance
Revenue
$120M+
Market Cap
$500M
Employees
850
Nikola represents one of the most dramatic corporate restructuring and operational turnaround sagas in modern industrial history. After completing a landmark merger with VectoIQ Acquisition Corp in June 2020 that saw its market capitalization briefly soar past $30 billion, Nikola was plunged into crisis following a devastating September 2020 short-seller report and federal investigations into founder Trevor Milton (who was convicted of wire and securities fraud in 2022). Nikola's board of directors severed ties with Milton, overhauled corporate governance, paid a $125 million SEC civil settlement, and installed veteran automotive leader Stephen Girsky as CEO. Under Girsky, Nikola streamlined capital expenditures, focused exclusively on its Coolidge, Arizona manufacturing plant, launched the Nikola Tre FCEV, and built commercial revenue past $120 million in 2026.
Revenue Trend Analysis
YoY Change
+41.2%
Peak Year
2026
Trend
Consistent Growth
Nikola Corporation has reported revenue across 5 fiscal years. The most recent year saw a 41.2% increase versus the prior year. Revenue peaked in 2026 at $120M. Out of 4 reported periods, 3 showed growth and 1 showed a decline.
| Fiscal Year | Revenue | YoY Change |
|---|---|---|
| FY2026 | $120M | +41.2% |
| FY2024 | $85M | +142.9% |
| FY2023 | $35M | -30.0% |
| FY2022 | $50M | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.
Click any row to see year details.
Nikola Corporation reported approximately $120M in fiscal year 2026 with a team of 850 employees worldwide.
Nikola Corporation strategically balances reinvestment into core R&D with operational cost discipline, focusing on workflow automation to expand operating margins in 2026.
Financial performance in Zero-Emission Commercial Class 8 Semi-Trucks, Hydrogen Fuel Cell Electric Vehicles (FCEV) & Clean Energy Infrastructure (HYLA) is driven by steady cash generation and pricing power, enabling Nikola Corporation to reinvest in high-return strategic initiatives.
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CorpDigest. "Nikola Corporation 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 Corporation reported $120M in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/nikola-corporation/financials" target="_blank" rel="noopener">CorpDigest — Nikola Corporation financials</a></div>