Lordstown Motors Q4 2022: $104.9M operating loss, 6 vehicles sold, production paused, Foxconn $170M investment

NU RIDE INC.

Q4 2022 operating loss of $104.9M; revenue from 3 vehicle sales with $30M cost of sales including $21M inventory write-down.
Only 6 Endurance vehicles sold through Feb 2023; production paused due to supplier quality issues; voluntary recall filed with NHTSA.
Foxconn invested initial $52M of up to $170M; remaining $117.3M subject to regulatory approvals and milestones.
Cash and short-term investments $221.7M at year-end; Q1 2023 outlook $150-170M excluding additional Foxconn funding.
FY2022 SG&A $138.3M (incl. $33.9M litigation accruals), R&D $107.8M; other operating items $111.4M impairment charges.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NU RIDE INC. reported financial results for the quarter ended December 31, 2022.

Period: the quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On March 6, Lordstown Motors Corp. (the “Company”) issued a press release reporting its financial results for the quarter ended December 31, 2022.

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NU RIDE INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-002843

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