Nikola Corp. doubled revenue and increased production numbers for its fuel-cell battery electric trucks in the second quarter, boosting the Phoenix-based company’s share price on Friday.
Nikola generated $31.3 million in revenue in the second quarter, exceeding Wall Street analyst expectations of $26.1 million. It was also an increase from $15.4 million the company generated in the prior-year quarter.
The company’s quarterly revenue marked the "strongest" in its history, driven by higher wholesale deliveries and truck prices, which increased $7,000 per unit to $388,000, Nikola CEO Steve Girsky told analysts and investors on an earnings call.
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