NIO Posts Profit for Second Consecutive Quarter, Q1 Revenue Up 112%
NIO reported its second straight quarterly profit and a 112% revenue surge in Q1 2026, driven by strong vehicle sales.
RMB 66.8 million
RMB 25.53 billion
18.8%
What Happened
RMB 66.8 million
Non-GAAP, excluding share-based compensation; second consecutive quarter of profitability.
Total revenues reached RMB 25.53 billion (US$ 3.70 billion) in the first quarter, up 112.2% year over year. Gross profit soared 428.4% to RMB 4.86 billion, and gross margin hit a four-year record of 19.0%. Vehicle margin also set a four-year high at 18.8%, marking four consecutive quarters of improvement.
NIO expects Q2 deliveries between 110,000 and 115,000 vehicles, up 52.7% to 59.6% year over year, with corresponding revenue guidance of RMB 32.78–34.44 billion, representing 72.4% to 81.2% annual growth.
Why this matters
NIO's sustained profitability and record margins signal growing financial health for the Chinese EV maker, highlighting its ability to scale efficiently amid competitive pressures.
Terms in This Story
- non-GAAP
- A financial measure that excludes certain expenses (like stock-based compensation) to show a company's underlying performance.
- gross margin
- Revenue minus cost of goods sold, divided by revenue; shows how efficiently a company produces its goods.
- vehicle margin
- Gross margin specifically from vehicle sales, excluding other revenue streams.
- operating cash flow
- Cash generated from normal business operations, indicating a company's ability to fund itself without external financing.
Summarised from the linked release; details can be imperfect — always verify against the original source.