EMBK Company Profile

Embark Technology Inc Reports Operating Deficit of $-65.131 Million in First Quarter of 2023, Raises Concerns in the Market

In an earnings report released recently, Embark Technology Inc has revealed an operating deficit of $-65.131 million during the fiscal cycle of January to March 31 2023. While shareholders did not anticipate any changes at the top-line, the operating deficit observed by investors has raised concerns and caused some uncertainty within the market.
Despite the lack of reported revenue, it is clear that Embark Technology Inc has struggled with its finances thus far. In comparison to its standing in the Q1 2022, the company's operating deficit has increased significantly. This has led to a net deficit of $-63.062 million, which represents a significant decline from the previous fiscal year.