NIO reported a fourth quarter loss that was wider than analysts' expectations, even though the Chinese carmaker beat revenue expectations.
The company’s loss for the quarter was -1.36 yuan (-$0.21), more than twice as large as the loss per share analysts expected.
Revenue, however, climbed +49% from the year-ago quarter to 9.9 billion yuan, beating analysts’ expectations of 9.7 billion yuan.
NIO delivered 25,034 vehicles, higher than analysts’ expectation of 24,930. Total vehicle sales for the quarter increased +49.3% year-over-year to 9.2 billion yuan (vehicle sales accounted for about 93% of total revenue for the quarter). The company's measure of gross margin for vehicle sales, was 20.9% compared to 17.2% in the year-ago quarter, on the back of higher average selling prices.
For Q1 FY 2022, NIO projects vehicle deliveries to be between 25,000 and 26,000, which would represent a year-over-year growth rates of approximately 24.6% to 29.6%. It is expecting revenue growth between 20.6% and 25.1% compared to the first quarter of FY 2021.