Fisker's Q3 2023 Update: Strong Demand and Delivery Milestone, but Wider Losses and Missed Estimates

Fisker's Q3 2023 business update reveals strong demand for the Fisker Ocean electric vehicle, with over 3,000 vehicles delivered globally. The company reported a total revenue of $71.8 million and raised $450 million in gross proceeds during the quarter. Fisker produced 4,725 vehicles and delivered 1,097 vehicles in Q3, with deliveries exceeding 1,200 vehicles in October alone. The company expanded its delivery infrastructure and opened flagship lounges in Los Angeles and New York City. Fisker also announced plans to open additional customer facilities in multiple countries. The company has adjusted pricing on all trim levels and opened orders for calendar year 2024. Fisker's stock closed at $4.11 per share, up 7.03%.