Nio Earnings

Nio shares surged 14.80% in Hong Kong after the company posted its first-ever quarterly profit since inception.

Nio achieved profit from operations of 807.3 million yuan ($115.4 million) in the fourth quarter, marking its first quarterly profit since inception.

Nio's third-quarter net loss decreased 31.2 percent year-on-year as R&D expenses fell 28 percent, while SG&A expenses remained largely flat from last year.

Nio posted a net loss of RMB 4.99 billion ($697 million) in the second quarter, its smallest since the fourth quarter of 2023.

Nio experienced an operating cash outflow in the first quarter, with current liabilities exceeding current assets.

Nio Inc delivered 42,094 vehicles in the first quarter, within the guidance range of 41,000 to 43,000 vehicles.

This post provides live updates on the key takeaways from Nio's fourth-quarter 2024 earnings call.

Nio's net loss in the fourth quarter was a record RMB 7.11 billion yuan, an increase of 40.6 percent from the third quarter, as SG&A expenses hit a record high.

Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025.

Nio reported weaker-than-expected revenue in the third quarter, which was also below its guidance range. It reported a net loss that was flat from the second quarter, with gross margin improving to 10.7 percent.