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Electric vehicle start Fisker (NYSE:FSR) builds powerful and unique cars. FSR stock traders shouldn’t worry about Fisker’s short-term financial results, as it’s a visionary company with an exciting new product.
The skepticism is understandable as Fisker stock price recently fell to the $10 level from a 52-week high of $23.75. This is undoubtedly disappointing for the company’s loyal long-term investors.
Still, it’s important to keep in mind that Fisker is a start-up company that’s still in its infancy. Furthermore, the electric vehicle revolution is expected to last for years, if not decades, so patience is key.
Fisker’s financial statistics should be watched, but not obsessed with. It is not uncommon for electric vehicle manufacturers to lack profitability. That’s why it takes a forward-thinking mindset to confidently invest in FSR stocks.
With that in mind, let’s crunch the numbers. During the first quarter of 2022, Fisker generated revenue of $12,000, which is significantly lower than the $41,000 generated in the previous quarter. Additionally, the company suffered a net profit loss of $122 million in the first quarter of 2022, representing a slight quarter-over-quarter improvement.
If you’re ready to forgive Fisker’s lack of revenue growth and the company’s quarterly net profit loss, we can move on to the positive news. In particular, Fisker has just announced its third vehicle (the first two are the Fisker Ocean and the PEAR).
The new electric vehicle will be a sports car and will be called Project Ronin. Project Ronin will feature “active aerodynamic technologies and an innovative battery design, with the pack integrated into the vehicle’s structure,” according to the press release.
Additionally, Ronin will be a “futuristic grand touring” sports car capable of carrying four adults and their luggage. Admittedly, the Ronin model featured in the press release is quite impressive.
Will Ronin disrupt the sports car market as we know it? Only time will tell, of course. Still, it’s encouraging to know that Fisker is moving forward with some exciting new vehicle designs. So if you agree with Fisker’s bold vision, you’re encouraged to look beyond the company’s current finances and invest in the future of the electric vehicle industry.
As of the date of publication, David Moadel had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.