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Fisker Posts Wider Q1 Loss

Published 04/05/2022, 23:32
FSRNQ
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Fisker (FSR) reported Q1 EPS of ($0.41), $0.02 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $12 thousand versus the consensus estimate of $10 thousand.

  • Q1 2022 operating results consistent with company expectations and full-year total spending guidance unchanged.
  • Test and validation phase progressing well, 23 out of 55 complete Fisker Ocean prototypes built.
  • 2022 retail reservations continue at an elevated pace. Fisker Ocean reservations total more than 45,000 as of May 2, 2022, including 1,600 fleet reservations. This represents approximately 50% growth since last earnings call.
  • Unveiled the Fisker Ocean to the European market at Mobile World Congress in Barcelona.
  • Fisker will open pre-orders for the limited-edition Fisker Ocean One on July 1, 2022.
  • Hyderabad in Telangana State selected as headquarters for Fisker's operations in India. The Hyderabad office will contribute to software and virtual vehicle development.

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