7Baggers

Nikola Corporation
(NASDAQ:NKLA) 

NKLA stock logo

Nikola Corporation designs and manufactures battery electric and hydrogen-electric vehicless. It operates in two business units, Truck and Energy. The Truck business unit develops and commercializes battery electric vehicles, hydrogen fuel cell electric vehicles, vehicle components, and class 8 truc...

Founded: 2014
Full Time Employees: 256
CEO: Trevor Milton  
Sector: Consumer Cyclical
Industry: Auto Manufacturers
Consumer DurablesSPACElectric Vehicles
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• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
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• Return on Equity (ROE) ttm:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2024-12-31 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 
                       
      revenues:
    		                   
      truck sales
    		1,202,000 24,847,000 28,743,000 7,418,000 10,368,000 -2,368,000 12,006,000 10,055,000 4,695,000 23,853,000 17,383,000         
      service and other
    		3,663,000 334,000 2,576,000 79,000 1,164,000 636,000 3,356,000 1,062,000 1,868,000 388,000 751,000 1,887,000        
      total revenues
    		4,865,000 25,181,000 31,319,000 7,497,000 11,532,000 -1,732,000 15,362,000 11,117,000 6,563,000 24,241,000 18,134,000 1,887,000        
      yoy
    		-57.81% -1553.87% 103.87% -32.56% 75.71% -107.14% -15.29% 489.14%            
      qoq
    		-80.68% -19.60% 317.75% -34.99% -765.82% -111.27% 38.18% 69.39% -72.93% 33.68% 861.00%         
      cost of revenues:
    		                   
      total cost of revenues
    		61,047,000 87,124,000 86,045,000 65,072,000 49,768,000 123,771,000 42,993,000 44,027,000 52,325,000 54,410,000 47,391,000 1,456,000        
      gross loss
    		-56,182,000 -61,943,000 -54,726,000 -57,575,000 -38,236,000 -125,503,000 -27,631,000  -14,748,750 -30,169,000 -29,257,000         
      operating expenses:
    		                   
      research and development
    		36,603,000 41,800,000 40,161,000 39,497,000 39,874,000 41,966,000 64,514,000 64,426,000 69,421,000 66,683,000 63,106,000 74,557,000 91,166,000 78,896,000 67,726,000 55,163,000 67,527,000 51,473,000 42,501,000 
      selling, general, and administrative
    		31,539,250 41,629,000 36,237,000 48,291,000 39,860,750 57,982,000 58,764,000 53,709,000 72,479,000 132,865,000 79,868,000 77,183,000 71,547,000 192,929,000 70,672,000 65,427,000 64,838,000 65,826,000 44,147,000 
      impairment expense
    		303,339,000 33,419,000                  
      loss on supplier deposits
    		    10,401,000 716,000 17,717,000             
      total operating expenses
    		404,997,000 116,848,000 76,398,000 87,788,000 89,600,000 100,664,000 140,995,000 118,135,000 149,659,000 199,548,000 142,974,000 151,740,000 162,713,000 271,825,000 138,398,000 120,590,000 146,780,000 117,299,000 86,648,000 
      income from operations
    		-461,179,000 -178,791,000 -131,124,000 -145,363,000 -127,836,000 -226,167,000 -168,626,000 -151,045,000 -195,421,000 -229,717,000 -172,231,000 -151,309,000 -162,713,000 -271,825,000 -138,398,000 -120,590,000 -146,780,000 -117,299,000 -86,642,000 
      yoy
    		260.76% -20.95% -22.24% -3.76% -34.58% -1.55% -2.09% -0.17% 20.10% -15.49% 24.45% 25.47% 10.86% 131.74% 59.74%     
      qoq
    		157.94% 36.35% -9.80% 13.71% -43.48% 34.12% 11.64% -22.71% -14.93% 33.38% 13.83% -7.01% -40.14% 96.41% 14.77% -17.84% 25.13% 35.38%  
      operating margin %
    		-9479.53% -710.02% -418.67% -1938.95% -1108.53% 13058.14% -1097.68% -1358.68% -2977.62% -947.64% -949.77% -8018.49% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      other income:
    		                   
      interest expense
    		-5,730,000 -10,875,000 -3,941,000 -2,278,000 -4,761,000 -52,680,000 -8,749,000 -9,863,000 -2,688,500 -7,735,000 -2,808,000 -211,000        
      gain on divestiture of affiliate
    		      70,849,000             
      loss on debt extinguishment
    		-2,820,000 -871,000 -1,529,000 -784,000 -10,663,000  -20,362,000             
      other income
    		1,135,000 -9,417,000 3,893,000 860,000 -10,250,000 -146,654,000 -5,546,000 -84,000 -5,446,000 2,617,000 -27,000 1,833,000 3,928,000 1,057,000 -1,102,000 219,000 -595,000 -340,000 -23,000 
      income before income taxes and equity in net profit of affiliates
    		-120,055,000 -199,954,000                  
      income tax expense
    		-21,000  92,000  11,000 1,000   750 1,000 2,000  1,000 1,000 2,000 1,000 1,000 2,000 1,000 
      income before equity in net profit of affiliates
    		-120,078,000 -199,954,000                  
      equity in net profit of affiliates
    		-216,250 173,000                  
      net income from continuing operations
    		-477,052,000 -199,781,000 -133,674,000 -147,722,000 -153,596,000 -425,764,000 -140,010,000             
      discontinued operations:
    		                   
      income from discontinued operations
    		      -52,883,000             
      income from deconsolidation of discontinued operations
    		      -24,935,000             
      net income from discontinued operations
    		      -77,818,000             
      net income
    		-477,052,000 -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 -86,643,000 
      yoy
    		210.59% -53.08% -38.63% -12.64% -30.83% 80.23% 25.91% 10.56% 39.30% -11.71% 20.78% 27.21% 8.42% 127.78% 65.31%     
      qoq
    		138.79% 49.45% -9.51% -3.82% -63.92% 95.46% 28.82% -23.85% -6.00% 36.55% 13.11% -4.06% -40.42% 86.81% 19.14% -18.24% 25.17% 35.58%  
      net income margin %
    		-9805.80% -793.38% -426.81% -1970.41% -1331.91% 24582.22% -1417.97% -1521.04% -3383.61% -974.52% -953.99% -8104.98% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      basic and diluted net income per share :
    		                   
      weighted-average shares outstanding, basic and diluted
    		54,558,229 51,388,962 46,699,945 1,335,877,351  857,213,992 708,692,817             
      income before income taxes and equity in net income of affiliates
    		  -132,701,000 -147,565,000 -153,454,000 -425,501,000 -132,393,000 -160,686,000 -207,472,000 -234,249,000 -171,725,000 -150,121,000 -158,903,000 -266,419,000 -142,103,000     
      income before equity in net income of affiliates
    		  -132,793,000 -147,565,000 -153,465,000 -425,502,000 -132,393,000 -160,686,000 -207,475,000 -234,250,000 -171,727,000 -150,121,000 -158,903,000 -266,420,000 -142,105,000     
      equity in net income of affiliates
    		  -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 -1,126,000     
      basic and diluted net income per share:
    		                   
      revaluation of warrant liability
    		    56,000  41,000 306,000 381,000 586,000 3,341,000 -434,000 144,000 4,467,000 -2,511,000 951,000    
      gross profit
    		       -32,910,000    431,000       6,000 
      yoy
    		       -7735.73%    NaN%  NaN% NaN%     
      qoq
    		             NaN% NaN%   NaN%  
      gross margin %
    		0% 0% 0% 0% 0% 0% 0% -296.03% 0% 0% 0% 22.84% NaN% NaN% NaN% NaN% NaN% NaN% Infinity% 
      net income per share
    		                -0.4 -0.31 -0.33 
      basic
    		       -0.31 -0.46 -0.54 -0.41 -0.37 -0.39 -0.67 -0.36 -0.31    
      diluted
    		       -0.31 -0.46 -0.54 -0.41 -0.37 -0.39 -0.68 -0.36 -0.31    
      weighted-average shares outstanding:
    		                   
      basic
    		    800,030,551   549,689,436 441,800,499 438,416,393 425,323,391 415,152,656 398,655,081 400,219,585 394,577,711 392,189,851    
      diluted
    		    800,030,551   549,689,436 441,800,499 438,416,393 425,323,391 415,152,656 398,784,392 400,230,669 394,577,711 392,489,761    
      solar revenues
    		                  36,000 
      cost of solar revenues
    		                  30,000 
      interest income
    		            -262,000 -118,000 -92,000 -9,000 -57,000 172,000 23,000 
      loss on forward contract liability
    		                   
      premium paid on repurchase of redeemable convertible preferred stock
    		                  -13,407,000 
      net income attributable to common stockholders
    		            -159,416,000 -267,567,000 -143,231,000     
      income before income taxes and equity in net income of affiliate
    		               -119,429,000    
      income before equity in net income of affiliate
    		               -119,430,000    
      equity in net income of affiliate
    		               -794,000    
      revaluation of series a redeemable convertible preferred stock warrant liability
    		                   
      income before income taxes
    		                -59,317,750 -117,467,000 -86,642,000 
      net income attributable to common stockholders, basic and diluted
    		                -147,039,000 -117,469,000 -100,050,000 
      net income per share
    		                -0.4 -0.31 -0.33 
      weighted-average shares used for eps calculation
    		                335,325,271 377,660,477 303,785,616 
                       
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2024-12-31 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 2019-12-31 2019-09-30 2019-06-30 2019-03-31 
                              
        assets
      		                        
        current assets
      		                        
        cash and cash equivalents
      		104,302,000 198,301,000 256,330,000 345,637,000 464,715,000 362,850,000 226,673,000 121,140,000 233,405,000 315,731,000 441,765,000 360,118,000 497,241,000 586,986,000 632,694,000 763,750,000 840,913,000 907,530,000 698,386,000 1,150,163 751,640 817,836 764,511 872,684 
        restricted cash and cash equivalents
      		4,284,000 3,374,000 10,200,000 1,224,000 1,224,000 1,224,000 600,000 10,600,000 10,600,000 600,000 87,459,000 25,000,000     4,365,000 10,952,000 8,896,000      
        accounts receivable
      		33,381,000 51,773,000 39,840,000 23,865,000 17,974,000 10,707,000 19,998,000 27,580,000 31,900,000 37,662,000 16,726,000 1,339,000      249,000 424,000      
        inventory
      		71,847,000 76,076,000 62,134,000 61,342,000 62,588,000 56,958,000 86,635,000 123,630,000 123,197,000 81,069,000 52,105,000 25,847,000 11,597,000 3,644,000 2,267,000          
        prepaid expenses and other current assets
      		51,244,000 61,996,000 61,599,000 37,241,000 25,911,000 38,978,000 73,010,000 47,830,000 37,824,000 51,858,000 34,802,000 31,730,000 15,891,000 13,329,000 9,776,000 7,270,000 5,368,000 3,800,000 4,672,000 7,813 23,438 39,063 54,688 62,500 
        total current assets
      		265,058,000 391,520,000 430,103,000 469,309,000 572,412,000 470,717,000 406,916,000 330,780,000 436,926,000 486,920,000 545,398,000 419,034,000 524,729,000 610,000,000 663,285,000 804,395,000 896,917,000 985,889,000 772,378,000 1,157,976 775,078 856,899 819,199 935,184 
        long-term deposits
      		16,153,000 17,256,000 8,887,000 9,027,000 14,954,000 16,681,000 17,329,000 32,382,000 34,279,000 37,161,000 37,740,000 33,800,000 27,620,000 25,078,000 16,670,000 12,951,000 17,687,000 17,303,000 10,328,000      
        property, plant and equipment
      		230,876,000 490,244,000 494,023,000 484,471,000 503,416,000 469,851,000 483,043,000 475,396,000 437,006,000 365,049,000 311,732,000 264,121,000 244,377,000 200,655,000 166,367,000 123,422,000         
        intangible assets
      		1,364,000 52,130,000 82,161,000 84,010,000 85,860,000 87,712,000 89,564,000 91,921,000 93,094,000 93,609,000 95,395,000 97,181,000 97,181,000 97,181,000 50,000,000 50,000,000 50,050,000 62,466,000 62,481,000      
        investment in affiliate
      		55,432,000 56,197,000 56,024,000 56,905,000            7,312,000 8,420,000        
        goodwill
      		  5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 6,688,000 6,688,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000 5,238,000      
        other assets
      		14,268,000 12,610,000 17,392,000 11,807,000 7,889,000 11,868,000 9,040,000 33,099,000 32,055,000 7,484,000 4,287,000 3,353,000 3,896,000     19,000       
        total assets
      		596,177,000 1,036,043,000 1,109,914,000 1,152,153,000 1,274,857,000 1,148,286,000 1,137,501,000 1,158,360,000 1,236,658,000 1,159,425,000 1,166,975,000 910,361,000 989,819,000 1,000,522,000 965,199,000 1,003,318,000 1,053,713,000 1,136,228,000 925,040,000 239,535,547 239,158,354 238,493,548 237,629,941 237,584,002 
        liabilities and stockholders' equity
      		                        
        current liabilities
      		                        
        accounts payable
      		53,412,000 57,161,000 55,559,000 44,909,000 44,133,000 48,809,000 45,767,000 78,020,000 117,914,000 92,511,000 87,479,000 77,478,000 86,982,000 57,251,000 58,064,000 40,827,000 29,364,000 10,277,000 7,575,000 139,452 80,042 26,876 6,081 64,150 
        accrued expenses and other current liabilities
      		182,391,000 205,508,000 213,980,000 220,151,000 207,022,000 205,155,000 173,957,000 176,756,000 202,562,000 170,707,000 156,610,000 105,657,000 93,487,000 170,884,000 26,725,000 30,144,000 18,809,000 22,579,000 13,952,000      
        debt and finance lease liabilities, current
      		9,595,000 73,111,000 11,806,000 6,233,000 8,950,000 39,177,000 13,417,000 21,760,000 63,114,000 14,357,000 9,518,000 507,000 140,000            
        total current liabilities
      		245,398,000 335,780,000 281,345,000 271,293,000 260,105,000 293,141,000 233,141,000 276,536,000 383,590,000 277,575,000 253,607,000 183,642,000 180,609,000 253,098,000 84,789,000 70,971,000 52,273,000 43,869,000 30,609,000 1,336,215 732,961 359,758 179,228 979,748 
        long-term debt and finance lease liabilities, net of current portion
      		192,700,000 270,018,000 266,390,000 268,345,000 269,279,000 232,371,000 348,392,000 296,473,000 291,627,000 283,258,000 273,309,000 25,045,000 25,047,000            
        operating lease liabilities
      		8,356,000 6,806,000 7,362,000 5,266,000 4,765,000 5,023,000 5,072,000 27,484,000 28,223,000 5,410,000 2,349,000 2,542,000 2,263,000            
        other long-term liabilities
      		42,301,000 44,193,000 31,264,000 20,974,000 21,512,000 14,168,000 28,165,000 7,697,000 6,303,000 28,349,000 37,070,000 72,231,000 84,033,000 34,732,000    11,577,000 11,762,000      
        total liabilities
      		488,755,000 656,797,000 586,361,000 565,878,000 555,683,000 544,718,000 614,785,000 612,489,000 710,179,000 595,396,000 567,724,000 288,189,000 296,247,000 292,696,000 107,185,000 91,035,000 66,237,000 56,522,000 43,445,000 1,336,215 834,482 442,560 338,983 1,180,798 
        commitments and contingencies
      		                        
        stockholders' equity
      		                        
        preferred stock, 0.0001 par value...
      		                        
        common stock, 0.0001 par value...
      		12,000 6,000 5,000 134,000 133,000 99,000 77,000 59,000 51,000 46,000 43,000 42,000 41,000 40,000 40,000 39,000 39,000 39,000 36,000 713 709 708 664 673 
        additional paid-in capital
      		4,136,586,000 3,931,702,000 3,876,034,000 3,804,974,000 3,790,272,000 3,520,890,000 2,944,504,000 2,751,386,000 2,562,855,000 2,379,191,000 2,176,945,000 2,025,552,000 1,944,341,000 1,799,101,000 1,668,362,000 1,592,716,000 1,560,820,000 1,505,422,000 1,189,845,000 4,999,288 4,999,292 628,683 1,388,757 2,276,502 
        accumulated deficit
      		-4,029,298,000 -3,552,246,000 -3,352,465,000 -3,218,791,000 -3,071,069,000 -2,917,473,000 -2,421,772,000 -2,203,944,000 -2,034,850,000 -1,812,784,000 -1,576,550,000 -1,403,553,000 -1,250,612,000 -1,091,196,000 -823,629,000 -680,398,000 -573,622,000 -425,755,000 -308,286,000      
        accumulated other comprehensive loss
      		122,000 -216,000 -21,000 -42,000 -162,000 52,000 -93,000 -1,630,000  -2,424,000 -1,187,000              
        total stockholders' equity
      		107,422,000 379,246,000 523,553,000 586,275,000 719,174,000 603,568,000 522,716,000 545,871,000 526,479,000 564,029,000 599,251,000 622,172,000 693,572,000 707,826,000 844,777,000 912,283,000 987,476,000 1,079,706,000 881,595,000      
        total liabilities and stockholders' equity
      		596,177,000 1,036,043,000 1,109,914,000 1,152,153,000 1,274,857,000 1,148,286,000 1,137,501,000 1,158,360,000 1,236,658,000 1,159,425,000 1,166,975,000 910,361,000 989,819,000 1,000,522,000 965,199,000 1,003,318,000 1,053,713,000 1,136,228,000 925,040,000      
        assets subject to assignment for the benefit of creditors, current portion
      		                        
        investment in affiliates
      		    57,062,000 58,193,000 58,289,000 68,677,000 72,816,000 76,505,000 79,726,000 62,634,000 61,778,000 62,370,000 63,639,000          
        assets subject to assignment for the benefit of creditors
      		                        
        liabilities subject to assignment for the benefit of creditors, current portion
      		                        
        deferred tax liabilities
      		    22,000 15,000 15,000 15,000 15,000 13,000 12,000 11,000 11,000 10,000 10,000 9,000 8,000 1,076,000 1,074,000      
        liabilities subject to assignment for the benefit of creditors
      		                        
        prepayment - long-term supply agreement
      		       44,835,000 44,835,000                
        estimated liability - guarantee of obligation of unconsolidated affiliate
      		       4,284,000                 
        warrant liability
      		        421,000 791,000 1,377,000 4,718,000 4,284,000 4,428,000 8,895,000 6,384,000         
        accumulated other comprehensive income
      		        -1,577,000   131,000 -198,000 -119,000 4,000  239,000        
        prepaid in-kind services
      		             6,041,000 18,548,000 33,375,000 46,271,000 63,358,000 60,000,000      
        finance lease liabilities, current
      		             24,963,000           
        term note, current
      		                4,100,000 4,100,000 4,100,000      
        finance lease liabilities
      		             428,000 13,491,000 13,671,000 13,956,000        
        common stock with embedded put right
      		              13,237,000          
        other comprehensive income
      		               -74,000         
        property and equipment
      		                71,401,000 61,313,000 59,856,000      
        term note
      		                        
        customer deposits
      		                 6,913,000 4,982,000      
        prepaid in-kind services and other assets
      		                  14,759,000      
        current assets:
      		                        
        non-current assets:
      		                        
        cash and cash equivalents held in trust account
      		                   238,377,571     
        investments held in trust account
      		                    238,372,960 237,576,453 236,779,509 236,631,289 
        liabilities and stockholders’ equity
      		                        
        current liabilities:
      		                        
        accrued liabilities
      		                   79,911 244,644 202,233 159,822 155,000 
        accrued income tax payable
      		                   694,852 408,275 130,649 13,325 760,598 
        note payable
      		                   422,000     
        deferred tax liability
      		                    101,521 82,802 159,755 201,050 
        common shares subject to possible redemption, 22,509,588 and 22,552,141 shares at redemption value of 10.36 at march 31, 2020 and december 31, 2019
      		                   233,199,331     
        stockholders’ equity:
      		                        
        retained earnings
      		                     4,370,610 3,610,580 2,722,826 
        total stockholders’ equity
      		                   5,000,001 5,000,001 5,000,001 5,000,001 5,000,001 
        total liabilities and stockholders’ equity
      		                   239,535,547 239,158,354 238,493,548 237,629,941 237,584,002 
        cash held in trust account
      		                    10,316 60,196 31,233 9,716 
        prepaid insurance
      		                       7,813 
        common shares subject to possible redemption, 22,552,141 and 22,831,030 shares at redemption value of 10.36 and 10.10 at december 31, 2019 and 2018, respectively
      		                    233,323,871    
        common shares subject to possible redemption, 22,560,598 and 22,831,030 shares at redemption value of 10.33 and 10.10 at september 30, 2019 and december 31, 2018, respectively
      		                     233,050,987   
        common shares subject to possible redemption, 22,999,103 and 22,831,030 shares at redemption value at 10.10 at june 30, 2019 and december 31, 2018, respectively
      		                      232,290,957  
        common shares subject to possible redemption, 22,911,207 and 22,831,030 shares at redemption value at 10.10 at march 31, 2019 and december 31, 2018, respectively
      		                       231,403,203 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2024-12-31 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
        		-477,052,000 -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
        		-477,052,000 -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
        		12,610,000 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
        		6,632,000 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
        		765,000 -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
        		3,812,000 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
        		31,390,000 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            
          impairment expense
        		303,339,000                       
          inducement expense
        		                       
          non-cash interest expense
        		7,594,000 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
        		2,820,000 871,000   10,663,000 0                  
          net incomees on asset sales and disposals
        		                       
          other non-cash activity
        		186,000 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
        		18,392,000 -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
        		-28,319,000 -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
        		8,548,000 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      
          long-term deposits
        		99,000 16,000   0 -84,000   4,050,000 -75,000      -4,161,000        
          other assets
        		192,000 -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
        		-25,422,000 -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       
          operating lease liabilities
        		-854,000 -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
        		-1,870,000 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
        		-121,971,000 -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    
          capital expenditures
        		-2,128,000 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
        		-124,099,000 -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 for property, plant and equipment
        		                       
          divestiture of affiliates
        		                       
          proceeds from the sale of assets
        		408,000 0 0 21,398,000 0                   
          payments to assignee
        		    0 -1,000                  
          investments in affiliates
        		    0 -166,000   0 0 -19,679,000 -3,348,000 0 0          
          net cash from investing activities
        		-2,867,000 -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 issuance of common stock under equity distribution agreements, net of commissions and other fees paid
        		                       
          proceeds from issuances of convertible debt instruments, net of discount and issuance costs
        		                       
          proceeds from insurance premium financing
        		1,188,000 0   0 1,314,000   0               
          proceeds from public offerings, net of underwriter's discount
        		                       
          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 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 financing obligations, net of issuance costs
        		                       
          repayment of senior convertible notes
        		                       
          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              
          payments on insurance premium financing
        		-1,439,000 -1,808,000 0 -1,853,000 -1,819,000 -1,169,000 -382,000 -1,999,000 -2,003,000               
          payment for coupon make-whole premiums
        		                       
          repayments of collateralized promissory notes
        		                       
          other financing activities
        		                       
          net cash from financing activities
        		28,689,000 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 and restricted cash and cash equivalents
        		                       
          cash and cash equivalents, including restricted cash and cash equivalents, beginning of period
        		0 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
        		-96,149,000 -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                  
          supplemental cash flow disclosures:
        		                       
          cash paid for interest
        		4,195,000 8,518,000   2,766,000 2,680,000         185,000 187,000 267,000 192,000      
          cash interest received
        		1,635,000 2,973,000   4,369,000 3,558,000         125,000 259,000 -184,000 408,000      
          supplemental noncash investing and financing activities:
        		                       
          conversion of toggle convertible notes
        		                       
          conversion of senior convertible notes into common stock
        		30,362,000    0                   
          conversion of 8.25% convertible notes
        		-1,000 75,000                      
          leased assets obtained in exchange for new finance lease liabilities
        		12,311,000 0   21,838,000                   
          toggle convertible notes issued for paid in kind interest
        		                       
          purchases of property, plant and equipment included in liabilities
        		-2,128,000 1,199,000   2,532,000 -6,234,000         6,281,000 27,108,000        
          accrued commissions under equity distribution agreement
        		278,000 536,000   -1,065,000 323,000                  
          accrued pik interest
        		                       
          reclassification of conversion features embedded in toggle convertible notes to equity
        		    0                   
          embedded derivative liability bifurcated from 8.25% convertible notes
        		                       
          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                  
          accrued debt and equity issuance costs
        		                       
          loss on disposal of assets
        		 -237,000 470,000 2,688,000                    
          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        
          divestiture of affiliate
        		     0                  
          investments in affiliate
        		                       
          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              
          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 finance lease liabilities and financing obligations
        		                       
          payments for issuance costs
        		   -49,000          -400,000 -218,000 -26,000        
          net increase in cash and cash equivalents, including restricted cash and cash equivalents
        		     96,745,000                  
          supplementary cash flow disclosures:
        		                       
          supplementary disclosures for noncash investing and financing activities:
        		                       
          pik interest
        		 3,821,000    2,089,000                  
          conversion of april 2023 toggle convertible notes
        		    0                   
          accrued issuance costs
        		                       
          proceeds from issuance of convertible notes, net of discount and issuance costs
        		     165,000,000   49,710,000 -6,000              
          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          
          issuance of senior secured note receivable and prepaid acquisition-related consideration
        		        -5,881,000               
          settlement of price differentials
        		                       
          proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs
        		                       
          repayment of debt, promissory notes and notes payable
        		                       
          net assets acquired in romeo acquisition
        		                       
          toggle unsecured convertible notes issued for paid in kind interest
        		                       
          embedded derivative asset bifurcated from convertible notes
        		                       
          stock option proceeds receivable
        		                       
          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