Massive earnings surprise. Nio Inc (NASDAQ: NIO) reported Q4 2025 GAAP EPS of US$0.04, beating consensus estimates. The Chinese electric vehicle maker delivered its first-ever quarterly profit, marking a dramatic turnaround from a loss of RMB3.17 per share in the year-ago quarter. Shares surged 15.4% to US$5.70 on volume of 145.1 million.
Revenue climbs on delivery surge. Q4 revenue reached US$4.9 billion, up 76% from Q4 2024. The company delivered 124,807 vehicles in the quarter, a 71.7% year-over-year increase, with all three brands—Nio, ONVO, and FIREFLY—hitting record quarterly highs. Vehicle margin expanded to 18.1% from 13.1% a year earlier, driven by a favorable product mix weighted toward higher-margin models like the all-new ES8. Full-year 2025 deliveries totaled 326,028 vehicles, up 46.9% year-over-year.
Profitability milestone reached. “This quarterly profitability also further validates the competitiveness of our technology roadmap, products, and business models,” said William Li, Founder and CEO, on the earnings call. “It also demonstrates the continued strengthening of our operational capabilities and efficiency, providing a solid foundation for long-term sustainable development.” The company delivered positive free cash flow for two consecutive quarters and achieved positive operating cash flow for the full year.
Q1 guidance signals momentum. Management expects Q1 2026 deliveries between 80,000 and 83,000 vehicles, representing year-over-year growth of 90.1% to 97.2%. Q1 vehicle margin is projected to remain flat with Q4, despite rising raw material costs for memory chips and lithium carbonate. The company will launch three new models in 2026, including the flagship Nio ES9 executive SUV on April 9th, the ONVO L80 large five-seat SUV in Q2, and a large five-seat SUV on the ES8 platform in Q3. Li reaffirmed confidence in achieving full-year volume growth of 40% to 50%, citing strong momentum in the premium battery electric vehicle segment, where BEV penetration increased from 14% to 27% year-over-year.
This article was generated using AlphaStreet’s proprietary financial analysis technology and reviewed by our editorial team.
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