Key facts
- Nio Inc. achieved its third consecutive quarter of adjusted profitability.
- Deliveries reached 107,000 vehicles in the second quarter, a nearly 50% increase year-on-year.
- Vehicle revenue surged 80.1% to 29.1 billion yuan ($4.3 billion).
- Adjusted profit from operations was 206.9 million yuan, a 3.1x increase from the prior quarter.
- Total revenue for the second quarter was 32.14 billion yuan ($4.74 billion), up 69.1% year-on-year.
Chinese electric vehicle manufacturer Nio Inc. reported its third consecutive quarter of adjusted profitability in the second quarter, driven by strong sales of its premium models and an improved product mix. The company delivered 107,000 vehicles, a nearly 50% increase from the previous year, which propelled vehicle revenue up by 80.1% to 29.1 billion yuan ($4.3 billion).
Overall revenue for the second quarter rose 69.1% year-on-year to 32.14 billion yuan ($4.74 billion), marking a 25.9% increase from the first quarter. Despite the revenue growth, this figure was approximately 2% below the company's previous guidance. Nio recorded an adjusted profit from operations of 206.9 million yuan, more than tripling the 66.8 million yuan from the first quarter. However, the company's GAAP net loss widened to 528 million yuan. On a non-GAAP basis, Nio reported an adjusted net profit of 26.1 million yuan for the quarter.