Two good filings: Fisker has engaged Deutsche Bank and PJT Partners to evaluate strategic alternatives
As previously disclosed, the Company continues to evaluate strategic alternatives and has engaged Deutsche Bank and PJT Partners to act as its financial advisors in connection with such efforts.
Fisker 10,193 vehicles produced and 4, 929 veichle delivered in 2023
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.
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