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Income Statement
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Nikola Corp (NKLA)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K/A10-K/A10-K/A10-K10-K/A
Revenues  50.80.00.10.50.2
            Revenue growth   -100.0%-80.3%178.6% 
Cost of goods sold  155.60.00.10.30.1
Gross profit  -104.80.00.00.20.1
            Gross margin  -206.1% 24.2%43.8%71.1%
Selling, general and administrative  370.2400.6182.720.712.2
Research and development  273.8293.0185.667.558.4
Equity in earnings  20.73.6-0.6  
EBITDA   [+]-704.7-681.7-362.9-85.7-69.9
            EBITDA margin  -1386.5% -382051.6%-17774.3%-40383.8%
Depreciation  17.88.26.02.30.6
EBITA  -722.5-689.9-369.0-88.0-70.5
            EBITA margin  -1421.6% -388375.8%-18256.2%-40745.1%
Amortization of intangibles  5.5    
EBIT   [+]-728.0-689.9-369.0-88.0-70.5
            EBIT margin  -1432.4% -388375.8%-18256.2%-40745.1%
Non-recurring items   [+]  14.4  
Interest expense, net   [+]17.70.5-0.2-1.5-0.7
Other income (expense), net   [+]-17.83.611.9-2.03.5
Pre-tax income  -763.6-686.9-371.3-88.5-66.3
Income taxes  0.00.0-1.00.2-2.0
            Tax rate    0.3% 3.0%
Net income  -784.2-690.4-384.3-105.5-64.5
            Net margin  -1543.0% -404497.9%-21882.2%-37259.5%
   
Basic EPS   [+]($1.78)($1.73)($1.15)($0.40)($0.28)
Diluted EPS   [+]($1.78)($1.73)($1.14)($0.40)($0.28)
   
Shares outstanding (basic)   [+]441.8398.7335.3262.5226.5
Shares outstanding (diluted)   [+]441.8398.8335.8262.5226.5
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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