NIO Inc
0A1K.L
$5.07 0.20%
Exchange: LSE | Sector: Consumer Cyclical | Industry: Auto Manufacturers
Q1 2025
Published: Jun 3, 2025

Earnings Highlights

  • Revenue of $12.03B up 21.5% year-over-year
  • EPS of $-3.29 decreased by 28% from previous year
  • Gross margin of 7.6%
  • Net income of -6.89B
  • "N/A" - N/A
0A1K.L
Company 0A1K.L

Executive Summary

NIO’s QQ1 2025 results reflect a mixed performance. Revenue rose year-over-year by 21.5% to 12,034.73 million CNY, signaling continued demand for its premium smart EVs. However, quarter-on-quarter revenue declined by 38.9%, highlighting seasonality and ongoing scale-up costs as the company accelerates its model cadence and energy-services initiatives. The quarter produced a substantial net loss of 6,891.06 million CNY and an EBITDA of -6.50 billion CNY, underscoring persistent operating burn as NIO funds R&D, marketing, and network expansion. Gross margin stood at 7.64%, with operating margin at -53.33% and net margin at -57.26%, indicating that scale is not yet translating into profitability.Liquidity remains robust on a raw cash basis, with 19.72 billion CNY of cash and short-term investments, but the balance sheet shows total liabilities of 98.44 billion CNY against assets of 98.16 billion CNY and negative shareholders’ equity of -0.366 billion CNY, implying elevated leverage and a tight capital structure. Going forward, NIO’s ability to improve gross margin, reduce operating costs, and deleverage will be critical to sustaining liquidity and supporting its growth initiatives in a competitive China EV landscape.

Key Performance Indicators

Revenue
Increasing
12.03B
QoQ: -38.92% | YoY: 21.46%
Gross Profit
Increasing
919.55M
7.64% margin
QoQ: -60.17% | YoY: 88.54%
Operating Income
Decreasing
-6.42B
QoQ: -6.38% | YoY: -18.98%
Net Income
Decreasing
-6.89B
QoQ: 3.38% | YoY: -31.06%
EPS
Decreasing
-3.29
QoQ: 5.19% | YoY: -28.02%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 19,008.67 -2.31 +9.0% View
Q1 2025 12,034.73 -3.29 +21.5% View
Q4 2024 19,703.43 -3.47 +15.2% View
Q3 2024 18,673.53 -2.50 -2.1% View
Q2 2024 17,445.97 -2.50 +98.9% View