Fisker (FSR) Reports Q1 Loss of $0.63/sh
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Fisker Inc. Announces First Quarter 2021 Financial Results
May 17, 2021 4:10 PM EDTQ1 2021 results in-line with expectations. Cash balance of $985 million. Increasing full-year operating expense guidance range by $30 million to include PEAR program costs (explicitly excluded from prior guidance). Capital expenditure guidance unchanged. Majority of Fisker Ocean Bill of Material (BOM) now sourced, improving cost visibility across the entire model range at targets previously communicated. Foxconn binding agreement completed and initial production in U.S. confirmed. Design of PEAR vehicle locked and program concept phase kicked off. Several suppliers already nominated and the program is benefiting from meaningful supply chain synergies with... More
