NIO (NIO) Stock Surges 6% on Historic First Quarterly Operating Profit

TLDR

• NIO achieved maiden quarterly operating profit in Q4 2025, recording non-GAAP operating profit of RMB1.25B
• Quarterly revenue climbed to RMB34.65B, representing 76% year-over-year growth and surpassing RMB33.25B consensus
• Q4 vehicle deliveries totaled 124,807 units, marking 71.7% year-over-year increase
• Vehicle margin expanded to 18.1% from previous year’s 13.1%
• Company forecasts Q1 2026 deliveries between 80,000–83,000 units, representing 90–97% year-over-year surge

NIO marked a pivotal milestone in Q4 2025 — and investors responded enthusiastically. The Chinese electric vehicle manufacturer announced its maiden quarterly operating profit, propelling shares upward by approximately 6% during Tuesday’s premarket session.

The automaker delivered earnings per share of RMB0.29 for the period, significantly outperforming analyst projections which had anticipated a loss of RMB0.09 per share. That represents a remarkable turnaround.

NIO Inc., NIO

Quarterly revenue reached RMB34.65 billion, reflecting a 76% year-over-year surge and exceeding the RMB33.25B consensus forecast.

The company delivered 124,807 vehicle units during Q4 2025. This represents a 71.7% increase compared to the equivalent quarter in the prior year and a 43.3% sequential gain from Q3 2025.

NIO’s non-GAAP operating profit registered RMB1.25 billion — a dramatic departure from the substantial losses reported in Q4 2024. Company leadership characterized this as a transformative moment.

CFO Stanley Yu Qu indicated the organization would “continue to enhance operational efficiency and optimize cost” throughout 2026, committing to deliver more robust and sustainable results for investors and business partners.

Margins Show Significant Expansion

Vehicle margin expanded to 18.1% in Q4 from 13.1% during the comparable period last year. Overall gross margin climbed to 17.5% versus only 11.7% in Q4 2024.

The expansion resulted from economies of scale, an enhanced product portfolio featuring newer vehicle models, and comprehensive cost reduction initiatives throughout operations.

Total gross profit for the quarter registered approximately RMB11.9 billion.

Vehicle sales increased 65% sequentially and jumped 81% compared to the prior-year period.

Delivery Performance and Forward Guidance

NIO shipped 27,182 vehicles during January 2026 and 20,797 in February. As of February 28, the manufacturer had delivered 47,979 vehicles in 2026, pushing cumulative deliveries beyond the 1 million unit threshold.

For Q1 2026, NIO projected revenue ranging from RMB24.48B to RMB25.18B, surpassing the RMB23.3B consensus figure.

Delivery projections for Q1 range between 80,000 and 83,000 units — indicating year-over-year expansion of 90.1% to 97.2%.

Competitor stocks showed muted reactions. XPeng (XPEV) gained 0.8% in premarket trading, while Li Auto (LI) declined 0.4%.

NIO’s total deliveries reached 1,045,571 units as of February 2026’s conclusion.

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