Nio Reports Wider Q4 Loss Despite Revenues Topping $1B

Nio Reports Wider Q4 Loss Despite Revenues Topping $1B

Nio Inc – ADR NIO reported mixed quarterly results, with in-line fourth-quarter revenues but a wider-than-expected loss. The revenue guidance for the first quarter was above consensus estimates. The EV maker also announced a month-over-month decline in deliveries for February.

Key Nio Q4 Metrics: The Chinese EV startup said its fourth-quarter revenues climbed 133.16% year-over-year and increased 46.7% quarter-over-quarter to 6.64 billion yuan or $1.018 billion. Excluding items, the non-GAAP loss per share was 0.93 yuan or 14 cents.

Analysts, on average, had estimated a loss of 7 cents per share on revenues of $1.01 billion.

In the same period last year, the company reported a loss of 39 cents per share and revenues of $406.99 million, and in the preceding third quarter, revenues were at $666.6 million and the non-GAAP loss per share was 12 cents.

Nio had earlier guided to fourth-quarter revenues of $921.8 million to $947.9 million.

Vehicle sales came in at $946.2 million, up 130% from a year ago and 44.7% higher than in the previous quarter.

Fourth-quarter vehicle margin was at 17.2% compared to a negative 6% in the year-ago quarter and a positive 14.5% in the previous quarter.

Cash and cash equivalents, restricted cash, and short-term investment was at $6.5 billion at the end of 2020.

"With steadily increasing deliveries, stable average selling price, improving material cost and manufacturing efficiency, our vehicle margin reached 17.2% in the fourth quarter. Moreover, we achieved positive cash flow from operating activities for the fourth quarter and the full fiscal year of 2020," said CFO Wei Feng.

Nio's Deliveries Momentum Falters In February: Nio confirmed in early January it delivered 17,353 vehicles in the fourth quarter, a 111% year-over-year growth. The deliveries momentum accelerated further at the start of 2021, with January deliveries climbing over 350% to 7,225 vehicles.

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Alexa Graham 1 month ago Member's comment

Sounds like good news to me.

Andrew Armstrong 1 month ago Member's comment

No, not good news at all. Only way this industry has a chance to survive is with a Big drop and battery company need to get out or get bought out.