Nikola faces stiff scrutiny in debut earnings call

Nikola Corporation’s first earnings call as a publically traded company left many analysts looking for clarity, writes Freddie Holmes

A slew of product reveals, industry partnerships and promised launches have generated serious hype around Nikola Corporation, the company that has hedged its bets on hydrogen. But Nikola no longer has just industry observers to impress: it must also appease shareholders following an initial public offering (IPO) in June.

Like others—notably Fisker via Spartan Energy Acquisition Corp.—Nikola Corporation went public through a reverse merger with ‘blank cheque’ investor VectoIQ. The company’s first ever earnings call on 4 August was a big moment and an opportunity to impress the investor community on which it is now heavily reliant upon.

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Nikola is “pre-revenue” company at this stage, and has a number of milestones to hit by 2023

Nikola plans to offer both battery electric and hydrogen fuel cell vehicles, but it is the latter on which its reputation was built. Long-haul trucks will…