Fisker’s Q4 Top-Line Jumps Seven-Fold; Forecasts Potentially Positive EBITDA For 2023

• Fisker Inc (NYSE: FSR) reported fourth-quarter FY22 sales of $306 thousand versus $41 thousand a year ago.

• Total operating costs and expenses rose 33.5% to $178.2 million.

• Operating loss for the quarter expanded to $(178.2) million from $(133.4) million last year.

• The company held $736.5 million in cash and equivalents as of Dec. 31, 2022. Cash used in operating activities for the quarter totaled $(111.1) million.

• Full-year 2022 total spending came in at $702 million, below the company’s anticipated range of $715 million – $790 million.

• EPS of $(0.54) missed the analyst consensus of $(0.42).

• Also Read: Why Fisker Stock Is Putting The Pedal To The Floor Monday Morning

• Outlook: Fisker maintains its 2023 production target of up to 42,400 units.

• The company expects FY23 capital expenditure of $245 million – $260 million.

• The company forecasts an 8-12% annual gross margin and potentially positive EBITDA for 2023.

• Price Action: FSR shares are trading higher by 27.82% at $7.26 on the last check Monday.

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