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Dec 31, 2024
Nio Q4 2024 Earnings Report
NIO reported its Q4 2024 earnings with increased revenue and gross profit, but higher net losses compared to the previous year.
Key Takeaways
NIO delivered strong revenue growth in Q4 2024, with vehicle sales and other sales showing significant increases. Despite this, the company reported larger net losses due to higher operating expenses and unfavorable investment outcomes.
Total revenue reached $2,699,359,000, a 15.2% year-over-year increase.
Gross profit rose to $316,324,000, up 80.5% from Q4 2023.
Net loss increased to $974,267,000, a 32.5% rise year-over-year.
Cash and cash equivalents stood at $5,700,000,000 by the end of the quarter.
Nio
Nio
Nio Revenue by Segment
Forward Guidance
For Q1 2025, NIO expects continued growth with vehicle deliveries between 41,000 and 43,000 units and total revenues between $1.694 billion and $1.762 billion.
Positive Outlook
- Vehicle deliveries expected to grow by up to 43.1% year-over-year.
- Revenue guidance reflects up to 29.8% growth year-over-year.
- New product launches planned for 2025 across three brands.
- Focus on cost reductions and operational efficiency improvements.
- International expansion plans with Firefly brand launch in April.
Challenges Ahead
- Profitability challenges continue with increasing net losses.
- High operating expenses related to sales and marketing activities.
- Ongoing depreciation of Renminbi impacting foreign assets.
- Lower average selling price due to product mix changes.
- Dependence on macroeconomic conditions and market fluctuations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income