NIO Inc. (NYSE:NIO) today announced its financial results for the first quarter of 2022, generating revenue of US$1.56 billion. This is a relatively flat increase from fourth quarter 2021 revenue of $1.56 billion and an increase from first quarter 2021 revenue of $1.26 billion. U.S. dollars.
The company reported a total of 25,768 vehicle deliveries during the quarter, up from 25,034 deliveries the previous quarter and 20,060 deliveries the year before.
Additionally, the company suffered a quarterly net loss of US$281.2 million, compared to net losses of US$338.1 million last quarter and US$71.2 million last year. This translates to a loss of $0.18 per share.
The company ended the first quarter of 2022 with approximately US$2.51 billion in cash and cash equivalents. With 5.29 billion dollars of short-term investments, these contribute to bringing the balance of current assets to 10.14 billion dollars. Current liabilities amounted to US$5.03 billion.
The automaker expects second-quarter revenue to be between US$1.47 billion and 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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