NIO Inc. (NYSE: NIO) reported on Tuesday its financial results for Q3 2021, earning US$1.5 billion in revenue. This is an increase from Q2 2021’s revenue of $1.3 billion and Q3 2020’s revenue of US$702.4 million.
The company reported a total of 24,439 vehicle deliveries during the quarter, up from the 21,896 deliveries in the previous quarter and 12,206 deliveries in the year-ago period.
Further, the company incurred a quarterly net loss of US$129.6 million compared to a US$91.1 million net loss last quarter and US$162.5 million last year. This translates to US$0.28 loss per share.
Calibrating for financial items including share-based compensation, adjusted net loss came in at US$88.4 million, compared to adjusted net losses of US$52.1 million for last quarter and US$154.8 million for last year.
The company ended Q3 2021 with approximately US$3.4 billion in cash and cash equivalents coming from a starting balance of US$6.0 billion at the start of the year. This puts the balance of the current assets at US$8.4 billion while current liabilities came in at US$4.1 billion.
The automaker expects its revenue for the fourth quarter to be between US$1.46 – US$1.57 billion. Vehicle deliveries are also expected to be between 23,500 and 25,500 vehicles for the next quarter.
You may see the full details of NIO’s Q3 2021 financial results here.
NIO Inc. last traded at US$40.64 on the NYSE.
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