All articles tagged with #q3 loss
Nebius reported a larger-than-expected Q3 net income loss of nearly $120 million amid revenue growth and announced a $3 billion AI compute infrastructure deal with Meta Platforms, while also raising capital through an equity offering. Despite the loss, its stock rose 6.2%, supported by significant revenue growth and strategic partnerships in AI cloud services.
Workhorse Group, an electric vehicle manufacturer, reported a Q3 loss due to California excluding its electric trucks from an incentive program, leading to a lack of customer orders. The company is considering selling its drone business to conserve cash for its core medium-duty electric truck operation. Workhorse has been revamping its product lineup to ensure automotive-grade quality, but fleets are hesitant to order electric trucks due to concerns about durability and the implementation of the Advanced Clean Fleets rule. Workhorse had $38.9 million in cash at the end of Q3 and is in advanced discussions to raise money for scaling.