Fisker Inc (FSRNQ)

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Fisker Inc. Announces Preliminary Q4 and Full Year 2023 Results*

Source: Business Wire
Fisker’s new Dealer Partner model is gaining momentum and is expected to help improve brand awareness and sales throughout 2024.

Fisker is in negotiations with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing. The closing of any transaction would be subject to satisfaction of important conditions, including completion of due diligence and negotiation and execution of appropriate definitive agreements.
Fisker reports preliminary Q4 2023 total revenue of $200.1 million, an increase of $128.3 million from Q3 2023. Both full year 2023 total revenue, which was $272.9 million, and the fourth quarter total revenue exclude $44.6 million of deferred revenue that will be recognized in future periods.
Fisker’s Q4 2023 gross margin was -35%. Fisker’s Q4 2023 earnings per share was a loss of $1.23, reflecting a combination of operating losses and a non-cash fair value adjustment related to its 2025 notes. For the full year 2023, Fisker’s earnings per share was a loss of $2.22.
Fisker Ocean production was 4,789 units in Q4 2023, and vehicles delivered to customers totaled 3,818. For full year 2023, 10,193 Fisker Oceans were produced, and 4,929 vehicles were delivered.
Fisker’s Dealer Partner model, announced in January 2024, has received over 250 expressions of interest from dealers in North America and Europe. 13 dealers have signed dealer agreements.
Cash, cash equivalents, and restricted cash totaled $395.9 million as of December 31, 2023. The carrying value of completed vehicles in Fisker’s inventory and raw materials was approximately $530 million as of December 31, 2023.
Fisker Inc. (NYSE: FSR) (“Fisker”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, today announced its preliminary financial results for the fourth quarter and fiscal year ended December 31, 2023.

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