Nio Stock Earnings Reports

Q1 2026 highlights: NIO delivered 83,465 vehicles (+98.3% YoY) across its three brands (NIO, ONVO, FIREFLY). Strong product momentum: all‑new ES8 hit 100,000 deliveries in 215 days; ES9 launched with deliveries beginning May 27; ONVO L90/L80 and refreshed FIREFLY models are ramping. April deliveries were 29,356 (+22.8% YoY). Financials: revenue RMB 25.5bn (+112.2% YoY), vehicle gross margin 18.8% (19.0% overall gross margin), other sales margin 20.6% (4‑year high). The company reported positive non‑GAAP operating profit and positive operating cash flow, ending Q1 with RMB 48.2bn in cash and equivalents. Guidance and targets: Q2 deliveries expected 110k–115k units annually? (Note: transcript gave Q2 deliveries range between 11,000 and 11,500 units—which appears to be an error in units; context indicates accelerating launch/delivery cycle). Management targets full‑year vehicle margin ~17%–18% despite raw material and memory cost pressure (~RMB 10,000+ per vehicle headwind) and aims for positive non‑GAAP operating profit for 2026. Technology and operations: in‑house 5nm smart driving chip (ES931/X1931 family) is being mass deployed (250k+ chips shipped); NWM model + reinforcement learning significantly improved urban NOP mileage and smart driving usage. Power services: 3,916 swap stations and >28,000 chargers currently; target to build >1,000 swap stations this year and roll out 5th‑generation swap stations from Q3. Other sales (services, power, accessories) are growing both scale and profitability and are expected to be a durable earnings driver.