FISKER INC Reports 71.8 million in Revenue and -91.0 million Net Income for FY2023 Q3
November 20, 2023
🌥️Earnings Overview
On November 13 2023, FISKER INC ($NYSE:FSR) released their Q3 FY2023 earnings results, which showed total revenue of USD 71.8 million and a net income of USD -91.0 million, an improvement from the same quarter of the previous year, when the company reported 0.0 million in revenue and -149.3 million in net income.
Stock Price
On Monday, FISKER INC reported its FY2023 Q3 financial results to the public. According to the report, the company had a total revenue of 71.8 million and net income of -91.0 million. The news caused FISKER INC’s stock to open at $3.9 and close at $4.1, a rise of 7.0% from last closing price of 3.8. The share price rose despite the negative net income as investors are optimistic about the company’s future prospects. FISKER INC also reported that they have made significant progress in developing their new electric vehicle.
Investors are hoping that this new product will help the company recover and increase their revenue in the coming quarters. Overall, FISKER INC’s FY2023 Q3 report has been a mixed bag with record highs in terms of revenue but significant losses in terms of net income. Investors are optimistic about the company’s future and are watching closely to see how the company will perform in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fisker Inc. More…
| Total Revenues | Net Income | Net Margin |
| 73.13 | -464.22 | -663.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fisker Inc. More…
| Operations | Investing | Financing |
| -419.27 | -71.96 | 506.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fisker Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.39k | 2.05k | 1.24 |
Key Ratios Snapshot
Some of the financial key ratios for Fisker Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -606.0% |
| FCF Margin | ROE | ROA |
| -661.2% | -65.3% | -11.6% |
Analysis
GoodWhale recently conducted an analysis of FISKER INC‘s welfare. Using Star Chart, we found that FISKER INC is strong in growth, medium in asset and weak in dividend, profitability. With a health score of 2/10, considering its cashflows and debt, FISKER INC is less likely to pay off debt and fund future operations. As such, investors who are willing to take on higher risks tend to be attracted to cheetah companies. These investors could include venture capital firms or angel investors who are interested in investing in young companies with high growth potential. Alternatively, long-term investors who are looking for companies with strong earnings sustainability may want to consider investing elsewhere. More…
Peers
The competition in the electric vehicle market is heating up, with new entrants Tesla, Lordstown Motors Corp, and Canoo Inc all vying for a piece of the pie. Fisker Inc, an early pioneer in the space, is no stranger to competition, but it remains to be seen if they can hold onto their market share.
– Tesla Inc ($NASDAQ:TSLA)
Tesla, Inc. is an American multinational corporation that specializes in electric vehicles, energy storage, and solar panel manufacturing. Based in Palo Alto, California, Tesla’s mission is to accelerate the world’s transition to sustainable energy. Tesla’s market cap as of 2022 is 687.33B and its ROE is 27.88%. The company’s products include electric cars, batteries, solar panels, and home energy systems.
– Lordstown Motors Corp ($NASDAQ:RIDE)
Founded in 1954, Lordstown Motors Corporation is an American electric vehicle manufacturer. The company’s flagship product is the Endurance, an all-electric pickup truck. Lordstown Motors is headquartered in Lordstown, Ohio, and has a production facility in Mexico.
As of 2022, Lordstown Motors Corporation has a market cap of 369.92 million and a return on equity of -63.07%. The company’s flagship product, the Endurance, is an all-electric pickup truck that is manufactured in Mexico. Lordstown Motors is working to establish itself as a leader in the electric vehicle market, and its market cap and return on equity reflect this goal.
– Canoo Inc ($NASDAQ:GOEV)
Canoo Inc. is a publicly traded company with a market capitalization of 409.99 million as of 2022. The company has a return on equity of -258.12%. Canoo Inc. is a designer and manufacturer of electric vehicles. The company was founded in 2015 and is headquartered in Los Angeles, California.
Summary
Investors are taking notice of FISKER INC‘s latest earnings report for the third quarter of FY2023, which showed total revenue of USD 71.8 million and net income of USD -91 million. This represents a marked improvement from the same quarter last year, when the company reported a loss of USD 149.3 million. The news has been well-received by the market, and shares have risen as a result. Despite the improved financials, investors should keep an eye on FISKER INC going forward, as the company still faces a challenging operating environment.
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