For 2023, analysts expect Nikola to nearly triple its revenue to $148 million as it slightly narrows its net loss to $655 million. Based on those forecasts (which optimistically assume Nikola will finally stabilize and scale up its business) and its enterprise value of $10 billion, Nikola still looks surprisingly expensive at 10 times this year's sales.
https://www.fool.com/investing/2023/06/26/better-ev-stock-rivian-automotive-vs-nikola/