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

Fisker Inc 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.