NIO's Q2 Revenue was $1,536.6 Million, Net Loss was $411.7 Million

Tiger Newspress2022-09-07

NIO today announced its unaudited financial results for the second quarter ended June 30, 2022. Stocks slid over 5% in premarket trading.

Deliveries of vehicles were 25,059 in the second quarter of 2022, including 3,681 ES8s, 9,914 ES6s, 4,715 EC6s and 6,749 ET7s, representing an increase of 14.4% from the second quarter of 2021 and a decrease of 2.8% from the first quarter of 2022.

  • Vehicle sales were RMB9,570.8 million (US$1,428.9 million) in the second quarter of 2022, representing an increase of 21.0% from the second quarter of 2021 and an increase of 3.5% from the first quarter of 2022.
  • Vehicle margin was 16.7% in the second quarter of 2022, compared with 20.3% in the second quarter of 2021 and 18.1% in the first quarter of 2022.
  • Total revenues were RMB10,292.4 million (US$1,536.6 million) in the second quarter of 2022, representing an increase of 21.8% from the second quarter of 2021 and an increase of 3.9% from the first quarter of 2022.
  • Gross profit was RMB1,340.3 million (US$200.1 million) in the second quarter of 2022, representing a decrease of 14.8% from the second quarter of 2021 and a decrease of 7.4% from the first quarter of 2022.
  • Gross margin was 13.0% in the second quarter of 2022, compared with 18.6% in the second quarter of 2021 and 14.6% in the first quarter of 2022.Loss from operations was RMB2,845.6 million (US$424.8 million) in the second quarter of 2022, representing an increase of 272.8% from the second quarter of 2021 and an increase of 30.0% from the first quarter of 2022. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB2,355.1 million (US$351.6 million) in the second quarter of 2022, representing an increase of 360.1% from the second quarter of 2021 and an increase of 37.3% from the first quarter of 2022.
  • Net loss was RMB2,757.5 million (US$411.7 million) in the second quarter of 2022, representing an increase of 369.6% from the second quarter of 2021 and an increase of 54.7% from the first quarter of 2022. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB2,267.0 million (US$338.5 million) in the second quarter of 2022, representing an increase of 575.1% from the second quarter of 2021 and an increase of 73.1% from the first quarter of 2022.
  • Net loss attributable to NIO’s ordinary shareholders was RMB2,745.0 million (US$409.8 million) in the second quarter of 2022, representing an increase of 316.4% from the second quarter of 2021 and an increase of 50.4% from the first quarter of 2022. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB2,185.6 million (US$326.3 million) in the second quarter of 2022, representing an increase of 551.1% from the second quarter of 2021 and an increase of 70.1% from the first quarter of 2022.
  • Basic and diluted net loss per Ordinary Share/American Depositary Share (ADS)iiiwere both RMB1.68 (US$0.25) in the second quarter of 2022, compared with RMB0.42 in the second quarter of 2021 and RMB1.12 in the first quarter of 2022. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB1.34 (US$0.20), compared with RMB0.21 in the second quarter of 2021 and RMB0.79 in the first quarter of 2022.
  • Cash and cash equivalents, restricted cash and short-term investment were RMB54.4 billion (US$8.1 billion) as of June 30, 2022.
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    Comments

    • BK99
      2022-09-07
      BK99
      Don't buy and dispose all
    • BK99
      2022-09-07
      BK99
      Sell sell
    • lowmy
      2022-09-07
      lowmy
      A case of bad news is good news for the share price
    • 来人
      2022-09-07
      来人
      Ok
    • Singman
      2022-09-07
      Singman
      Like
    • Guavaxf30
      2022-09-07
      Guavaxf30
      This should have been expected. Like I said before, not this year. Have to wait for another 12 months at least for stability. And then another 12 months to see if they can actually turn this into a profit making business.
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