Electric vehicle startup Fisker (NYSE:FSR) manufactures powerful and unique-looking cars. FSR stock traders shouldn’t worry about Fisker’s near-term financial results, as it’s a visionary company with an exciting new product.
Skepticism is understandable as the Fisker share price recently came down to the $10 level from a 52-week high of $23.75. This is undoubtedly disappointing to the company’s faithful long-term investors.
Yet, it’s important to bear in mind that Fisker is a startup business that’s still in the early innings. Besides, the electric vehicle revolution is likely to last for years or even decades, so patience is a necessity.
Fisker’s financial stats should be monitored, but not obsessed over. It’s not uncommon for EV manufacturers to lack profitability. That’s why it requires a forward-thinking mind-set to invest in FSR stock with confidence.
With that in mind, let’s crunch the numbers. During 2022’s first quarter, Fisker generated revenue of $12,000, which is substantially less than the $41,000 generated in the prior quarter. Also, the company incurred a $122 million net earnings loss in Q1 2022, representing a slight quarter-over-quarter improvement.
If you’re willing to forgive Fisker’s lack of revenue growth and the company’s quarterly net earnings loss, then we can move on to the positive news. In particular, Fisker just announced its third vehicle (the first two are the Fisker Ocean and the PEAR).
The new EV will be a sports car, and it will be called Project Ronin. Project Ronin will feature “active aerodynamic technologies and an innovative battery design, with the pack integrated into the structure of the vehicle,” according to the press release.
Moreover, Ronin will be a “futuristic Grand Touring” sports car capable of carrying four adults and their luggage. Admittedly, the Ronin model shown in the press release looks pretty awesome.
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 new and exciting vehicle models. So, if you’re on board with Fisker’s bold vision, you’re encouraged to look past the company’s current financials and invest in the future of the EV industry.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.