NIO Q4 FY22 Earnings Highlights
[Rewards] NIO Q4 sales were up, while gross margin contracted and losses widening
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KEY Figures:
● NIO Q4 total revenues were $2,329.0 million, representing an increase of 62.2% YoY (year-over-year).
● The vehicle deliveries were 40,052 in Q4, up 60% YoY. The total deliveries were 122,486 in 2022, representing an increase of 34.0% from 2021.
● Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was $734.4 million, representing an increase of 190.0% YoY and an increase of 44.8% from the third quarter same year.
● Gross margin was 3.9% in Q4 2022, compared with 17.2% YoY and 13.3% in the third quarter of 2022.
● Cash and cash equivalents were $6.6 billion as of December 31, 2022.
● For the Q1 2023 Outlook, vehicle deliveries might be between 31,000 and 33,000 vehicles, representing an increase of 20.3% to 28.1% approximately YoY.
● For the Q1 2023 Outlook, total revenues might be between $1,584 million and $1,674 million, up 10.2% to 16.5% approximately YoY.
More statistics:
KEY Points:
● NIO has ranked first in the premium electric vehicle market segments priced over RMB 400,000 and RMB 300,000 in China with the market share of 75.8% and 54.8%, respectively in Q4 2022, according to the retail sales data from China Automotive Technology and Research Center.
● NIO launched the EC7, an electric flagship coupe SUV, and the All-New ES8, an all-round smart electric flagship SUV in December. Both models are derived from NIO Technology 2.0 (NT2.0).
● At NIO Day 2022, NIO introduced the third-generation Power Swap station, which achieves more efficient vehicle-station coordination and can complete 400+ swaps daily, a 30% increase compared with the previous station.
● In 2023, NIO plans to deliver 5 new products based on NT 2.0, deploy 1,000 additional Power Swap stations to improve holistic user experience, and continuously strengthen the competitive advantages.
● In 2023, NIO will focus on improving its execution efficiency, and work in an agile and efficient mode to embrace competition in the global electric vehicle market.
● Vehicle and gross margins plunged YoY to only 6.8% and 3.9%, respectively in Q4. The reasons behind might be the high cost of key components like batteries, and old models' inventory cleanup activities.
The KEY in your hands:
By March 1, 2022, NIO shares had dropped more than 9% since the beginning of 2023, behind the S&P 500 (.SPX), which was up about 3% during the same period (Source: moomoo APP).
How do you see NIO currently? What's your opinion or analysis about it? Speak out with mooers and get inspired by sharing!
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Comments above are made available for informational purposes only. Before investing, please consult a licensed professional. *Source of data: sec.gov/Archives/edgar/data/1736541/000110465923027041/tm238183d1_6k.htm# This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Before investing, please consult a licensed professional. See this link for more information.
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Silverbat : Cautious of bankruptcy!
杰曼 : i believe that NIO can still sustain its business as it receives the subsidies from the government. Investors seem to still pouring their money into the hot EV market. Their products have to be really outstanding, not only to surpass the competitors but also to cut down costa to increase profit margins. Otherwise it is just a burning cash company without an end.
102095561 : unless can produce value for money car like li auto n byd .it will be a lose making money no matter how much invest in swap n nio house .now pple dnt need swap station as charging. can be quite fast with super charger .
GodSpeed289 : 2022 was a very challenging year for Nio due to persistent supply chain issues and COVID-induced production disruptions, weakened demands and global headwinds.
Nio reported more than 12,000 vehicles shipped in February, which was nearly double what it sold in February 2021. But that's where the good news stopped. Expect a significant shortfall in revenue. Nio is losing market share to its domestic rivals.
Hopefully, with China’s reopening, EV sales are expected to rebound sharply. Nio management showed confidence in doubling its sales in 2023, backed by the release of five new models. Nonetheless, the long-term growth prospects of the EV market remain optimistic.
Demascus : The plunge in margins is definitely concerning. It might take quite a long time before profitability can be established. Don't think the stock will do well in the meantime.
Blazethebeagle : Ev bubble has burst tsla price competition is killer only byddy can compete with tsla
骨神 : Nio maybe doing badly last quarter, other the entire FY22, but nio is full of opportunities . Believe in them and own the stock, it should go $20 before June 2023
-Keo : Predicting peak $13 then hitting a bull run for bankruptcy depending on how the next quarter shows
70174410 : Believe that NIO is your future
quekky : not sure if I should buy more or sell away nio stocks now
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