NKLA Stock Cash Flow Statements

Nikola Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Nikola Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31

cash flows from operating activities
net income	-199,781,000	-133,674,000	-147,722,000	-153,596,000	-425,764,000	-217,828,000	-169,094,000	-222,066,000	-236,234,000	-172,997,000	-152,941,000	-159,416,000	-267,567,000	-143,231,000	-120,224,000	-147,039,000	-117,469,000	-119,681,460	-124,540	760,031	887,754	809,791
less: income from discontinued operations				0	0
income from continuing operations	-199,781,000	-133,674,000	-147,722,000	-153,596,000	-425,764,000
adjustments to reconcile net income from continuing operations to net cash from operating activities:
depreciation and amortization	11,720,000	11,092,000	10,596,000	7,132,000	16,996,000	4,710,000	7,052,000	6,828,000	6,796,000	6,565,000	3,111,000	2,272,000	2,249,000	1,905,000	1,805,000	1,753,000	1,443,000
stock-based compensation	8,601,000	7,950,000	8,786,000	6,475,000	18,659,000	25,709,000	24,548,000	44,191,000	102,845,000	54,841,000	53,528,000	53,728,000	49,047,000	52,670,000	50,266,000	46,255,000	52,196,000
equity in net income of affiliates	-173,000	881,000	157,000	131,000	262,000	7,617,000	8,408,000	14,591,000	1,984,000	1,270,000	2,820,000	513,000	1,147,000
revaluation of financial instruments	8,431,000	-2,973,000	826,000	10,457,000	187,226,000	8,137,000	-231,000	-51,000	-286,000
revaluation of contingent stock consideration				0	-41,509,000
inventory write-downs	19,011,000	17,532,000	20,044,000	6,718,000	51,782,000	10,279,000	2,439,000	4,441,000	5,727,000	7,417,000	3,473,000
non-cash interest expense	4,071,000	4,210,000	3,625,000	6,355,000	53,483,000	9,355,000	10,008,000	6,591,000	6,433,000
loss on supplier deposits				10,401,000	716,000
gain on divestiture of affiliate				0	0
loss on debt extinguishment	871,000			10,663,000	0
loss on disposal of assets	-237,000	470,000	2,688,000
impairment expense
other non-cash activity	1,994,000	809,000	2,871,000	455,000	2,873,000	-83,000	1,098,000	1,118,000	203,000	599,000	-326,000
changes in operating assets and liabilities:
accounts receivable	-11,933,000	-15,974,000	-5,892,000	-7,267,000	9,292,000	7,611,000	4,029,000	6,153,000	-20,936,000	-15,387,000	-1,339,000					137,000	175,000
inventory	-32,953,000	-20,344,000	-17,788,000	-13,773,000	-21,708,000	14,597,000	-2,872,000	-22,954,000	-37,484,000	-38,064,000	-22,404,000	-13,768,000	-1,377,000
prepaid expenses and other current assets	6,012,000	-9,732,000	-10,297,000	3,600,000	251,000	-40,014,000	-8,569,000	1,865,000	2,260,000	2,079,000	-14,710,000	-3,877,000	-3,066,000	-2,266,000	-1,758,000	-1,252,000	870,000
other assets	-633,000	-573,000	-389,000	854,000	-343,000	-112,000	-1,929,000	103,000	-304,000	-304,000	-304,000
accounts payable, accrued expenses and other current liabilities	-9,712,000	-5,585,000	11,819,000	-12,941,000	57,802,000	-3,958,000	-55,516,000	9,107,000	9,733,000	17,526,000	-2,131,000	-51,016,000	137,625,000	7,452,000	2,083,000	10,266,000
long-term deposits	16,000			0	-84,000			4,050,000	-75,000						-4,161,000
operating lease liabilities	-1,030,000	-976,000	-763,000	-818,000	-412,000	-169,000	-610,000	-458,000	-139,000	-200,000	-77,000
other long-term liabilities	12,929,000	10,299,000	5,836,000	7,400,000	-781,000	1,819,000	1,278,000	1,244,000	1,829,000	233,000	-457,000	49,302,000
net cash from operating activities	-149,377,000	-134,553,000	-115,603,000	-117,754,000	-91,259,000	-107,204,000	-179,961,000	-145,247,000	-157,648,000	-142,488,000	-131,323,000	-111,785,000	-69,395,000	-66,725,000	-59,249,000	-65,631,000	-39,117,000	-45,248,778	-536,222
capex	1,199,000	0	0	2,532,000	-6,234,000	0	0	0	0	0	0	0	0	6,281,000	27,108,000	0	-1,998,000	0	0
free cash flows	-148,178,000	-134,553,000	-115,603,000	-115,222,000	-97,493,000	-107,204,000	-179,961,000	-145,247,000	-157,648,000	-142,488,000	-131,323,000	-111,785,000	-69,395,000	-60,444,000	-32,141,000	-65,631,000	-41,115,000	-45,248,778	-536,222
cash flows from investing activities
purchases and deposits of property, plant and equipment	-13,558,000	-13,724,000	-16,458,000		-20,690,000	-35,430,000	-52,289,000		-51,120,000	-37,210,000	-30,106,000		-48,893,000	-40,266,000	-24,521,000
proceeds from the sale of assets	0	0	21,398,000	0
divestiture of affiliate					0
payments to assignee				0	-1,000
investments in affiliate
net cash from investing activities	-13,558,000	-13,724,000	4,940,000	-11,107,000	-115,000	-3,238,000	-52,289,000	-51,306,000	-79,600,000	-56,889,000	-33,454,000	-69,001,000	-48,893,000	-65,066,000	-24,521,000	-15,946,000	-8,892,000	-245,183,000	238,880,000	474,627
cash flows from financing activities
proceeds from the exercise of stock options				2,000	6,353,000	636,000	404,000	5,222,000	1,080,000	257,000	308,000	591,000	355,000	1,213,000	2,626,000	7,446,000	320,000
proceeds from issuance of shares under the tumim purchase agreements				0	0	2,874,000	64,713,000		0	96,296,000	27,376,000
proceeds from registered direct offering, net of underwriter's discount				-210,000
proceeds from public offering, net of underwriter's discount
proceeds from issuance of common stock under equity distribution agreement, net of commissions and other fees paid	21,263,000
proceeds from issuance of convertible notes
proceeds from issuance of financing obligation, net of issuance costs					3,943,000				5,425,000
proceeds from insurance premium financing	0			0	1,314,000			0
repayment of debt and promissory notes	-261,000	-131,000	-130,000		-40,230,000	-2,513,000	-2,544,000
payment for coupon make-whole premium	-49,000	-2,783,000	-1,747,000
payments on insurance premium financing	-1,808,000	0	-1,853,000	-1,819,000	-1,169,000	-382,000	-1,999,000	-2,003,000
payments on finance lease liabilities and financing obligations
payments for issuance costs			-49,000										-400,000	-218,000	-26,000
net cash from financing activities	98,080,000	52,646,000	-5,055,000	230,726,000	188,119,000	208,530,000	115,608,000	115,727,000	111,814,000	343,483,000	27,654,000	116,041,000	72,580,000	735,000	-1,758,000	8,373,000	263,209,000	669,116,000	422,000
net increase in cash and cash equivalents, including restricted cash and cash equivalents					96,745,000
cash and cash equivalents, including restricted cash and cash equivalents, beginning of period	0	0	493,965,000	0	0	-9,055,000	322,964,000
cash and cash equivalents, including restricted cash and cash equivalents, end of period	-64,855,000	-95,631,000	378,247,000	101,865,000	96,745,000	89,033,000	206,322,000
cash flows from discontinued operations:
operating activities				0	0
investing activities				0	0
financing activities				0	0
net cash from discontinued operations				0	0
supplementary cash flow disclosures:
cash paid for interest	8,518,000			2,766,000	2,680,000									185,000	187,000	267,000	192,000
cash interest received	2,973,000			4,369,000	3,558,000									125,000	259,000	-184,000	408,000
supplementary disclosures for noncash investing and financing activities:
conversion of senior convertible notes into common stock				0
conversion of 8.25% convertible notes	75,000
purchases of property, plant and equipment included in liabilities	1,199,000			2,532,000	-6,234,000									6,281,000	27,108,000
pik interest	3,821,000				2,089,000
leased assets obtained in exchange for new finance lease liabilities	0			21,838,000
accrued commissions under equity distribution agreement	536,000			-1,065,000	323,000
reclassification of conversion features embedded in toggle convertible notes to equity				0
conversion of april 2023 toggle convertible notes				0
accrued issuance costs
contingent stock consideration for divestiture of affiliate				0	0
embedded derivative liability bifurcated from april 2023 toggle convertible notes				0	0
reclassification from liability to equity for certain share-based awards				0
reclassification from equity to liability for certain share-based awards				0	8,395,000
proceeds from issuance of convertible notes, net of discount and issuance costs					165,000,000			49,710,000	-6,000
payments on finance lease liabilities and financing obligation		-1,288,000	-1,276,000	-856,000	-204,000	235,000	-490,000	-248,000	-74,000
net decrease in cash and cash equivalents, including restricted cash and cash equivalents		-95,631,000	-115,718,000				-116,642,000
proceeds from issuance of common stock under equity distribution agreement, net of commissions paid				866,000	53,462,000	31,041,000	30,524,000	64,631,000
non-cash in-kind services												6,041,000	12,507,000	14,827,000	12,896,000	17,087,000	11,401,000
issuance of common stock for commitment shares												0	2,939,000
purchases and deposits for property, plant and equipment
divestiture of affiliates
investments in affiliates				0	-166,000			0	0	-19,679,000	-3,348,000	0	0
issuance of senior secured note receivable and prepaid acquisition-related consideration								-5,881,000
settlement of price differentials
proceeds from public offerings, net of underwriter's discount
proceeds from issuances of convertible debt instruments, net of discount and issuance costs
proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs
proceeds from issuance of financing obligations, net of issuance costs
payment for coupon make-whole premiums
repayment of debt, promissory notes and notes payable
other financing activities
net increase in cash and cash equivalents and restricted cash and cash equivalents
supplemental cash flow disclosures:
supplemental noncash investing and financing activities:
embedded derivative liability bifurcated from 8.25% convertible notes
net assets acquired in romeo acquisition
toggle unsecured convertible notes issued for paid in kind interest
accrued pik interest
embedded derivative asset bifurcated from convertible notes
stock option proceeds receivable
accrued debt and equity issuance costs
common stock issued for commitment shares
common stock issued for investments in affiliates, including common stock with embedded put right
acquired intangible assets included in liabilities
settlement of second price differential
proceeds from issuance of collateralized promissory notes
embedded derivative asset bifurcated from june 2022 toggle convertible notes
accrued debt issuance costs
accrued deferred issuance costs														22,000	330,000
adjustments to reconcile net income to net cash from operating activities:
proceeds from registered direct offering, net of underwriters discount
proceeds from public offering, net of underwriters discount
conversion of 5% senior convertible notes into common stock
proceeds from issuance of 5% senior convertible notes							25,000,000
loss on forward contract liability																0	0
cash and restricted cash acquired in romeo acquisition
proceeds from sale of equipment								0				0	0
proceeds from issuance of series d redeemable convertible preferred stock, net of issuance costs paid																0	0
business combination and pipe financing, net of issuance costs paid																0	-10,000
proceeds from the exercise of stock warrants, net of issuance costs paid																1,484,000
proceeds from issuance of shares under the tumim purchase agreement
repayment of debt and notes
net decrease in cash and cash equivalents, including restricted cash											-137,123,000				-85,528,000
cash and cash equivalents, including restricted cash, beginning of period									0	0	522,241,000		0	0	849,278,000		0
cash and cash equivalents, including restricted cash, end of period									-125,434,000	144,106,000	385,118,000		-45,708,000	-131,056,000	763,750,000		215,200,000
proceeds from issuance of collateralized promissory note
repayment of promissory note
net increase in cash and cash equivalents, including restricted cash													-45,708,000				215,200,000
revaluation of warrant liability											434,000	-144,000	-4,467,000	2,511,000	-951,000
payments on finance lease liabilities											-30,000		-241,000
payment of note payable												0	0	0	-4,100,000	0	0
revaluation of series a redeemable convertible preferred stock warrant liability
long-term and customer deposits												-16,000	2,542,000
settlement of first price differential
cash paid towards build-to-suit lease
proceeds from the exercise of series a redeemable convertible preferred stock warrants
repurchase of series b redeemable convertible preferred stock from related parties, net of issuance costs paid
proceeds from landlord on finance lease
payments on finance lease liability															-258,000
proceeds from issuance of promissory note, net of issuance costs
proceeds from note payable																0	0	3,712,000	422,000
payment for issuance costs
deferred income taxes													0	1,000	1,000	-1,067,000	2,000	103,521	-101,521		-41,295	98,273
revaluation of derivative liability
loss on sale of equipment													0
proceeds from issuance of common stock under stock purchase agreement
proceeds from landlord of finance lease																	0
non-cash prepaid in-kind services																-17,087,000	-11,400,000
accrued business combination and pipe transaction costs																0	-10,000
net liabilities assumed from vectoiq
equity in net income of affiliate															794,000
accrued series d redeemable convertible preferred stock issuance costs
non-cash interest income
cash paid for acquisitions, net of cash acquired
issuance of related party note receivable
purchases and deposits for property and equipment
proceeds from issuance of series c redeemable convertible preferred stock, net of issuance costs paid
cash paid for income taxes, net of refunds
non-cash interest received related to related party notes
non-cash settlement of related party note receivable
accrued purchases of property and equipment
property acquired through build-to-suit lease
non-cash acquisition of license
non-cash series c redeemable convertible preferred stock issuance costs
net liabilities assumed by vectoiq
settlement of forward contract liability																0
customer deposits																	1,931,000
purchases of property and equipment																	-1,998,000
deposits for property and equipment																	-6,879,000
investment in joint venture
payments to landlord for finance lease																	-165,000
accrued purchases and deposits of property and equipment																	765,000
net liabilities assumed from vectoiq in business combination
accounts payable and accrued expenses and other current liabilities
cash flows from operating activities:
investment income earned on marketable securities held in trust account																			-507,040
change in operating assets and liabilities:
decrease in prepaid expenses																			15,625			15,625
decrease in accounts payable and accrued liabilities																			-105,323
increase in accrued income tax payable																			286,577			187,729
cash flows from investing activities:
purchases of investments held in trust account
maturities of marketable securities held in trust account																			238,880,000	473,570,000	1,448,000	236,000,000
cash flows from financing activities:
net change in cash and cash and equivalents held in trust account																			238,765,778
cash and cash equivalents held in trust account - beginning of period																			761,956
cash and cash equivalents held in trust account - end of period																			239,527,734
decrease (increase) in prepaid expenses																				15,625
increase in accounts payable and accrued liabilities
decrease in accrued income tax payable
proceeds from issuance of common stock, net of offering costs
deferred offering cost
net change in cash and cash held in trust account
cash and cash held in trust account - beginning of period																				0	0	1,216,579
cash and cash held in trust account - end of period																				82,288	-86,656	882,400
assets:
cash																				28,963	21,517	9,716
u.s. government treasury bills																				796,944	148,220	236,631,289
total																				825,907	169,737	236,641,005
supplemental disclosure of non-cash financing activities:
offering costs included in accounts payable
supplemental disclosure of noncash investing and financing activities:
deferred offering costs included in accounts payable
cash flow from operating activities:
payments on notes payable
net increase in cash and cash held in trust account
cash and cash held in trust account—beginning of period
cash and cash held in trust account—end of period
54
cash held in trust account

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