NIO Inc. (NYSE: NIO) reported today its financial results for Q1 2022, earning US$1.56 billion in revenue. This is a relatively flat increase from Q4 2021’s revenue of $1.56 billion and an increase from Q1 2021’s revenue of US$1.26 billion.
The company reported a total of 25,768 vehicle deliveries during the quarter, up from the 25,034 deliveries in the previous quarter and 20,060 deliveries in the year-ago period.
Further, the company incurred a quarterly net loss of US$281.2 million, compared to the net losses of US$338.1 million last quarter and US$71.2 million last year. This translates to US$0.18 loss per share.
The company ended Q1 2022 with approximately US$2.51 billion in cash and cash equivalents. Along with US$5.29 billion in short investments, these contribute to putting the balance of the current assets at US$10.14 billion. Current liabilities came in at US$5.03 billion.
The automaker expects its revenue for the second quarter to be between US$1.47 – US$1.59 billion. Vehicle deliveries are also expected to be between 23,000 and 25,000 vehicles for the next quarter.
NIO Inc. last traded at US$20.38 on the NYSE.
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