US-listed shares of Nio jumped in Tuesday’s pre-market session after the Chinese EV maker reported its first-ever profitable quarter, beating Wall Street estimates across earnings, revenue and guidance.
Nio reported fourth-quarter adjusted EPS of 0.29 yuan, beating the analyst consensus of -0.09 yuan by 0.38 yuan.
Revenue for the quarter came in at 34.65 billion yuan, above the consensus estimate of 33.25 billion yuan.
For the first quarter of 2026, the company guided for revenue of 24.48 billion to 25.18 billion yuan, ahead of the consensus of 23.3 billion yuan.
As of press time, Nio shares were trading 7.7% higher at $5.32.
The stock had closed at $4.94 on Monday, slightly lower year to date.
The stock remains down roughly 92.1% from its all-time intraday high of $66, reached in January 2021 during a global EV bubble that sent US-listed EV stocks to levels most of them have never reclaimed — with the exception of Tesla.
Sales and Q1 Guidance
The EV maker’s founder and CEO William cited the quarterly sales record of the three brands Nio, Onvo and Firefly.
“For the full year of 2025, total deliveries across the three brands reached 326,028 units, up 46.9% year over year, reflecting our accelerating growth trajectory,” Li added before revealing the first quarter guidance.
“We expect total deliveries in the first quarter of 2026 to be between 80,000 and 83,000 units, representing a year-over-year increase of 90.1% to 97.2%,” the founder and CEO said.
The guidance implies that the company expects to deliver between 32,000 and 35,000 EVs in March.
Li cited the Nio All-New ES8 as the top-selling vehicle priced above 400,000 yuan in 2025, the Onvo L90 as the best-selling large BEV SUV of the year, and Firefly as the segment leader among premium small cars since its launch.
“Looking ahead to 2026, we will continue to invest decisively in our twelve full-stack core technologies, launch new models, enhance the commercial and operational capabilities of our battery swapping and charging network, and continue upgrading our sales and service network,” he added.
Margins and Gross Profit
Chief Financial Officer Stanley Yu Qu pointed to the 18.1% vehicle margin and 11.9% other sales margin as the key indicators of the quarter’s operating improvement.
“These improvements were primarily driven by the strong delivery and revenue growth, an optimized product mix, and cost reduction and efficiency enhancement initiatives,” he said.
“We achieved non-GAAP operating profit of RMB1,251.3 million for the first time on a quarterly basis in the fourth quarter of 2025, marking a major milestone in our operating performance,” the CFO highligted.
As an outlook, the finance chief said the company would “continue to enhance operational efficiency and optimize cost, and deliver stronger, more sustainable performance for our users, partners and shareholders” in 2026.
The earnings call is scheduled for 8:00 AM US Eastern Time.
ES9
Separately, Nio founder and CEO William Li recently announced that the company’s upcoming flagship SUV, the ES9, will be launched on April 9 — one day earlier than the April 10 date that co-founder and President Qin Lihong had previously set.
The ES9 is expected to make its public debut at the Beijing Auto Show, which opens on April 24, with deliveries scheduled to begin on June 1.
