Gasgoo Munich- On May 21, NIO released its unaudited financial results for the first quarter of 2026. The report shows the automaker posted an operating profit of 66.8 million yuan, marking its second consecutive quarter of profitability.
Image Source: NIO
Total revenue climbed to 25.53 billion yuan, a 112.2% year-on-year increase that exceeded the company's guidance ceiling of 25.18 billion yuan. Gross profit rose 428.4% to 4.86 billion yuan, lifting the overall gross margin to 19.0%, a four-year high. Vehicle margins also increased, reaching 18.8% after four consecutive quarters of growth, another four-year record. Other sales margins reached a four-year high of 20.6%.
The net loss narrowed to 332.1 million yuan from 6.75 billion yuan a year earlier. Cash reserves increased to 48.2 billion yuan by quarter's end, marking the third consecutive quarter of positive operating cash flow.
Deliveries climbed 98.3% to 83,465 units, exceeding the top end of the company's forecast of 80,000 to 83,000 units. The all-new ES8 achieved 100,000 deliveries in 215 days, a record for premium vehicles priced above 400,000 yuan in the Chinese market. By March 31, 2026, cumulative deliveries surpassed 1.08 million.
Looking ahead, NIO provided an outlook for the second quarter. It forecasts deliveries between 110,000 and 115,000 units, a 52.7% to 59.6% increase, and revenue ranging from 32.78 billion to 34.44 billion yuan, up 72.4% to 81.2%. Following the results, NIO's U.S.-listed shares rose more than 6% in pre-market trading.
