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The company reported a total revenue of RMB19.70 billion ($2.69 billion), which marked a 15.2% increase from the corresponding quarter of 2023 but fell below an analyst estimate of RMB20.19 billion, per FinChat data.
NYSE-listed shares of Chinese EV maker Nio Inc (NIO) fell about 5% on Friday morning after the company reported fourth-quarter (Q4) earnings below estimates.
The company reported a total revenue of RMB19.70 billion ($2.69 billion), which marked a 15.2% increase from the corresponding quarter of 2023 but fell below an analyst estimate of RMB20.19 billion, per FinChat data.
The net loss during the three months was RMB7.11 billion, an increase of 32.5% year over year (YoY).
The EV maker, however, delivered more vehicles in the quarter than a year ago. Vehicle deliveries jumped by about 45% YoY to 72,689 units, thanks to the introduction of its first EV under the sub-brand Onvo aimed at the mass market.
Nio CEO William Bin Li said the ONVO L60's market share has been rising steadily since its launch in September and has secured a “top-three position” in China’s BEV SUV market, priced between RMB 200,000 and 300,000.
The company is now eyeing the launch of its first vehicle under its recently debuted Firefly brand. Firefly’s EV deliveries are expected to begin in April.
“Looking ahead to 2025, we will sharpen our focus on enhancing profitability by driving cost reductions through technological advancements, optimizing operational efficiency, and accelerating scalable growth,” NIO’s CFO Stanley Yu Qu said.
The company said on Friday that it expects vehicle deliveries in the first quarter of 2025 to be between 41,000 and 43,000, representing an increase of up to 43.1% from the same quarter of 2024.
The company also expects total revenues to rise by as much as 29.8% to between RMB12.37 billion and RMB12.86 billion.
On Stocktwits, retail sentiment stayed within the ‘bullish’ territory (56/100) while message volume remained ‘high’ over the past 24 hours.
A Stocktwits user highlighted the company reaffirming its target for the fourth quarter of 2025.
Another user, however, expressed disappointment in the stock’s lack of appreciation over the past few months.
Nio shares are down over 1% this year and by over 10% over the past twelve months.
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