•
Mar 31
Nio Q1 2025 Earnings Report
NIO reported widened losses in Q1 2025 despite strong year-over-year growth in vehicle deliveries.
Key Takeaways
NIO Inc. delivered strong year-over-year growth in deliveries, boosted by both its premium and family-oriented brands. However, losses remained high, and operating expenses were a key pressure point. Revenues declined sharply quarter-over-quarter due to seasonal factors.
Nio
Nio
Nio Revenue by Segment
Forward Guidance
NIO expects Q2 2025 revenues to rise on the back of new product launches and recovering delivery volumes.
Positive Outlook
- Vehicle deliveries projected between 72,000 and 75,000 units in Q2.
- Revenue guidance set between $2.689B and $2.765B.
- New products like the ET9 and Firefly gaining traction.
- Demand rising for ONVO L60.
- Expanded product upgrades launched in May 2025.
Challenges Ahead
- High operating expenses remain a drag.
- Net losses still substantial despite cost controls.
- Gross margin lower than in Q4 2024.
- Q1 revenue dropped nearly 39% QoQ.
- Manufacturing costs per unit rose due to lower production volumes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income