Revenue grew 36.6% year-over-year, but the quarter was heavily impacted by a $739 million impairment on the Polestar 3, resulting in a $1.03 billion net loss and a negative gross margin.

Polestar achieved strong revenue growth of 84% in Q1 2025, supported by higher vehicle deliveries and a favorable shift in product mix. The gross margin turned positive at 6.8%, while the net loss narrowed by 31% year-over-year.

Polestar delivered 12,256 vehicles in Q4 2024, but revenue declined due to a lower average selling price, leading to a wider net loss. The company anticipates improved performance in 2025 with the launch of Polestar 3 and 4.

Polestar reported a significant increase in revenue and car deliveries for Q3 2023, with revenue up 41% year-on-year to $613.2 million and deliveries up 51% to 13,976 cars. Despite this growth, gross profit decreased by 11% due to irregular supplier charges and increased inventory impairment. The company also reported an operating loss of $261.2 million.