The earnings call presented a mixed sentiment. While NIO reported growth in vehicle deliveries and total revenues year over year, these were offset by significant quarter-over-quarter declines, increased net loss, and high operating expenses. The successful fundraising and new product launches are positives, but the financial challenges remain a concern.

Company Guidance

During the call, NIO Inc. provided comprehensive guidance on various metrics for the first quarter of 2025. The company reported delivering 42,094 smart EVs, indicating a 4.1% year-over-year increase. For the second quarter, NIO projects total deliveries between 147,000, reflecting a 25.5% to 30.7% year-over-year growth. Financially, the company achieved a 21.5% year-over-year increase in total revenues, reaching 12 billion RMB, although this marked a 38.9% decrease quarter-over-quarter. Vehicle sales amounted to 9.9 billion RMB, up 18.6% year-over-year but down 43.1% quarter-over-quarter. In terms of margins, NIO reported a vehicle margin of 10.2%, showing improvement from 9.2% in the previous year but a decline from 13.1% in the last quarter. The overall gross margin was 7.6%, up from 4.9% in the previous year. The company reiterated its commitment to cost reduction and efficiency, with R&D expenses targeted to be reduced by 15% in Q2 and SG&A expenses to be managed within 10% of sales revenue by Q4. NIO also highlighted its strategic focus on international expansion, product innovation, and enhancing its power swap and charging network, aiming for a breakeven point by Q4 2025.

Increase in Vehicle Deliveries

The company delivered 42,094 smart EVs in Q1 2025, marking a 4.1% year-over-year increase. This includes 27,313 deliveries from NIO and 14,781 from Envoy.

Revenue Growth

Total revenues reached RMB 12 billion, up 21.5% year over year. Vehicle sales were RMB 9.9 billion, an 18.6% increase year over year.

Improved Margins

Vehicle margin increased to 10.2% from 9.2% year over year. Overall gross margin improved to 7.6% from 4.9% year over year.

Successful Fundraising

NIO completed a share offering in Hong Kong, raising over 4 billion Hong Kong dollars, bringing in global long-term investors.

New Product Launches

The company launched new models including the ES6, EC6, ET5, and ET5P, with expectations of increased deliveries.

Nio (NIO) Earnings, Revenues Date & History

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NIO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 02, 2025	2025 (Q2)	-0.31 / -	-0.308	―	―	―
Jun 03, 2025	2025 (Q1)	-0.36 / -0.42	-0.333	-25.94% (-0.09)	―
Mar 21, 2025	2024 (Q4)	-0.32 / -0.44	-0.391	-12.81% (-0.05)	―
Nov 20, 2024	2024 (Q3)	-0.27 / -0.30	-0.318	6.14% (+0.02)	―
Sep 05, 2024	2024 (Q2)	-0.31 / -0.31	-0.457	32.62% (+0.15)	―
Jun 06, 2024	2024 (Q1)	-0.31 / -0.33	-0.35	4.78% (+0.02)	―
Mar 05, 2024	2023 (Q4)	-0.33 / -0.39	-0.428	8.47% (+0.04)	―
Dec 05, 2023	2023 (Q3)	-0.36 / -0.32	-0.294	-8.06% (-0.02)	―
Aug 29, 2023	2023 (Q2)	-0.41 / -0.46	-0.187	-144.78% (-0.27)	―
Jun 09, 2023	2023 (Q1)	-0.39 / -0.35	-0.11	-217.72% (-0.24)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NIO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 03, 2025	$3.52	$3.53	+0.28%
Mar 21, 2025	$4.71	$4.50	-4.46%
Nov 20, 2024	$4.63	$4.65	+0.43%
Sep 05, 2024	$4.24	$4.85	+14.39%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.