Polestar's earnings call highlighted strong revenue and sales volume growth, operational improvements, and a successful expansion in Europe. However, these positives were countered by significant challenges, including a negative gross margin due to an impairment expense, difficulties in the U.S. market, and the absence of updated financial guidance. The mixed results suggest a balanced outlook with both promising achievements and notable challenges.

Company Guidance

During the Polestar First Half 2025 Results Conference Call, the company emphasized strong commercial performance with a 51% growth in retail sales volume, surpassing their target of 30% to 35% growth for 2025 to 2027. Revenue increased by 56% to $1.4 billion, driven by higher sales volume and a growing share of higher-priced Polestar 3 and 4 models. Despite these achievements, profitability was impacted by significant external headwinds, including tariffs and mounting pricing pressure, resulting in a negative gross margin of 49% due to an impairment expense of $739 million for Polestar 3 assets. Adjusted gross margin improved to a positive 1.4% from a negative 2.6% year-over-year, and adjusted EBITDA loss narrowed by 30% to $302 million. The company raised $200 million in new equity and secured around $2.1 billion in loan facilities to support operations. Polestar reiterated its target for a compound annual retail sales volume growth of 30% to 35% over 2025 to 2027 but did not issue specific financial guidance.

Strong Revenue Growth

Revenue grew by 56% to $1.4 billion in the first half of 2025, driven by higher sales volume and an increase in the share of higher-priced Polestar 3 and Polestar 4 models.

Retail Sales Volume Increase

Retail sales volume grew by 51% to over 30,000 cars, surpassing the growth target of 30% to 35% for 2025 to 2027.

Operational Improvements

Polestar achieved operational improvements with a reduction in production costs due to lower material costs, including for batteries, and optimized marketing spend.

Expansion in Europe

Polestar expanded its presence in Europe, signing 26 new retail partners, with Europe now being the main regional market and comprising 77% of sales.

Carbon Credit Sales Boost

Carbon credit sales amounted to $90 million, contributing positively to profitability and aligning with the target of achieving a 3-digit $100 million amount in 2025.

Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History

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PSNY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2026	2026 (Q1)	- / -	-0.088	―	―	―
Sep 03, 2025	2025 (Q2)	-0.12 / -0.32	-0.144	-119.44% (-0.17)	―
May 12, 2025	2025 (Q1)	-0.14 / -0.09	-0.13	32.31% (+0.04)	―
Feb 27, 2025	2024 (Q4)	-0.21 / -	-0.33	―	―	―
Nov 08, 2024	2024 (Q3)	-0.15 / -0.16	-0.072	-122.22% (-0.09)	―	―
Aug 29, 2024	2024 (Q2)	- / -0.14	-0.14	2.86% (<+0.01)	―
Jul 02, 2024	2024 (Q1)	-0.17 / -0.14	-0.14	-2.86% (>-0.01)	―
Mar 07, 2024	2023 (Q4)	-0.16 / -0.15	-0.24	36.25% (+0.09)	―	―
Nov 08, 2023	2023 (Q3)	-0.15 / -0.07	-0.14	48.57% (+0.07)
Aug 31, 2023	2023 (Q2)	-0.13 / -0.14	―	―

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

PSNY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 03, 2025	$1.33	$1.10	-17.29%
May 12, 2025	$1.09	$1.09	0.00%
Feb 27, 2025	$1.11	$1.11	0.00%
Nov 08, 2024	$1.26	$1.23	-2.38%

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.