Nikola Corp Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020
Cash flows from operating activities
Net loss
Less: Loss from discontinued operations
Loss from continuing operations
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:
Depreciation and amortization
Stock-based compensation
Non-cash interest income
Revaluation of warrant liability
Deferred income taxes
Non-cash in-kind services
Loss on forward contract liability
Equity in net loss of affiliates
Revaluation of financial instruments
Revaluation of contingent stock consideration
Inventory write-downs
Impairment expense
Inducement expense
Non-cash interest expense
Loss on supplier deposits
Gain on divestiture of affiliate
Loss on debt extinguishment
Net losses on asset sales and disposals
Other non-cash activity
Changes in operating assets and liabilities:
Accounts receivable, net
Inventory
Prepaid expenses and other current assets
Long-term deposits
Other assets
Accounts payable, accrued expenses and other current liabilities
Operating lease liabilities
Other long-term liabilities

Net cash used in operating activities
Cash flows from investing activities
Cash paid for acquisitions, net of cash acquired
Issuance of related party note receivable
Purchases and deposits for property, plant and equipment
Divestiture of affiliates
Proceeds from the sale of assets
Payments to assignee
Investments in affiliates
Issuance of senior secured note receivable and prepaid acquisition-related consideration
Cash and restricted cash acquired in Romeo Acquisition
Cash paid towards build-to-suit lease
Settlement of price differentials
Net cash used in investing activities

Cash flows from financing activities
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs paid
Series C Redeemable Convertible Preferred Stock
Series D Redeemable Convertible Preferred Stock
Total proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs paid

Business Combination and PIPE financing, net of issuance costs paid
Proceeds from issuance of common stock under Equity Distribution Agreements, net of commissions and other fees paid
Proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs
Proceeds from issuances of convertible debt instruments, net of discount and issuance costs
Proceeds from insurance premium financing
Proceeds from landlord on finance lease
Proceeds from issuance of shares
Private Placement
Private Offering
Total proceeds from issuance of shares

Proceeds from the exercise of stock options
Proceeds from the exercise of stock warrants, net of issuance costs paid
Series A Redeemable Convertible Preferred Stock
Total proceeds from the exercise of stock warrants, net of issuance costs paid

Repurchase of Series B redeemable convertible preferred stock from related parties, net of issuance costs paid
Proceeds from issuance of financing obligations, net of issuance costs
Repayment of Senior Convertible Notes
Payments on finance lease liabilities and financing obligation
Proceeds from issuance of promissory note, net of issuance costs
Payment of note payable
Payments on insurance premium financing
Payment for Coupon Make-Whole Premiums
Repayments of collateralized promissory notes
Payment for issuance costs
Other financing activities
Net cash provided by financing activities

Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents
Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period
Cash and cash equivalents, including restricted cash and cash equivalents, end of period
Cash flows from discontinued operations:
Operating activities
Investing activities
Financing activities
Net cash used in discontinued operations
Supplemental cash flow disclosures:
Cash paid for interest
Cash interest received
Cash paid for income taxes, net of refunds

Supplemental noncash investing and financing activities:
Non-cash interest received related to related party notes
Non-cash settlement of related party note receivable
Conversion of convertible note
Toggle Convertible Notes
Senior Convertible Notes
8.25% Convertible Notes
April 2023 Toggle Convertible Notes
Leased assets obtained in exchange for new finance lease liabilities
Toggle Convertible Notes issued for paid in kind interest
Purchases of property, plant and equipment included in liabilities
Accrued commissions under Equity Distribution Agreement
Non-cash prepaid in-kind services
Accrued Business Combination and PIPE transaction costs
Net liabilities assumed from VectoIQ
Settlement of forward contract liability
Embedded derivative asset bifurcated from Convertible Notes
Stock option proceeds receivable
Accrued PIK interest
Reclassification of conversion features embedded in Toggle Convertible Notes to equity
Embedded derivative liability bifurcated from convertible notes
8.25% Convertible Notes
April 2023 Toggle Convertible Notes
Contingent stock consideration for divestiture of affiliate
Reclassification from liability to equity for certain share-based awards
Reclassification from equity to liability for certain share-based awards
Net assets acquired in Romeo acquisition
Accrued debt and equity issuance costs
Series C Redeemable Convertible Preferred Stock
Series D Redeemable Convertible Preferred Stock
Total accrued debt and equity issuance costs

Common stock issued for commitment shares
Common stock issued for investments in affiliates, including common stock with embedded put right
Acquired intangible assets included in liabilities

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