Quarterly ResultMay 15, 2026, 04:43 PM
Nu Ride Inc. Q1 Net Loss Narrows to $0.1M; Cash $25.1M
AI Summary
Nu Ride Inc. (formerly Lordstown Motors Corp.) reported a net loss of $0.1 million for the three months ended March 31, 2026, a significant improvement from a $1.2 million net loss in the prior year period. The company's total operating expenses also decreased substantially. As of March 31, 2026, Nu Ride held $25.1 million in cash and cash equivalents. The company continues to manage its emergence from Chapter 11 bankruptcy, prosecute the Foxconn Litigation, and explore new business opportunities, including recent loans receivable totaling $8.8 million for billboard leasehold assets.
Key Highlights
- Net loss for Q1 2026 was $0.1 million, down from $1.2 million in Q1 2025.
- Net loss attributable to common shareholders was $0.9 million, down from $1.9 million in Q1 2025.
- Total operating expense, net, decreased to $0.7 million from $1.8 million year-over-year.
- Cash and cash equivalents stood at $25.1 million as of March 31, 2026.
- Total liabilities decreased to $3.2 million as of March 31, 2026, from $6.0 million at year-end 2025.
- Loans receivable increased to $8.8 million as of March 31, 2026, from $2.2 million at year-end 2025.
- Net cash used in operating activities was $2.6 million for Q1 2026.
- Net cash used in investing activities was $6.7 million in Q1 2026, compared to $10.0 million provided in Q1 2025.
Price Impact
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