#NIO Inc. Q3 FY2024 #EarningsReport Summary | $NIO (+2,12 %)

In the third quarter of 2024, NIO faced challenges including declining average selling prices due to product mix changes. However, it achieved strong operational results with record-breaking deliveries and improved gross and vehicle margins.

📊 Income Statement Highlights (YoY):

▫️ Total Revenue: $2.66B vs $2.73B (-2.1%)

▫️ Net Loss: $721.00M vs $649.56M (+11.0%)

▫️ Adjusted Net Loss (non-GAAP): $628.80M vs $563.58M (+11.6%)

▫️ Gross Profit: $286.05M vs $217.10M (+31.8%)

▫️ Gross Margin: 10.7% vs 8.0% (+270 bps)

▫️ Vehicle Margin: 13.1% vs 11.0% (+210 bps)

▫️ Adjusted Loss from Operations (non-GAAP): $654.20M vs $604.46M (+8.3%)

💼 Balance Sheet Highlights:

▫️ Total Assets: $14.82B

▫️ Cash and Cash Equivalents: $6.00B

▫️ Total Liabilities: $12.53B

🔮 Future Outlook:

Expected Q4 2024 vehicle deliveries: 72,000–75,000 units (+43.9% to +49.9% YoY).

Projected Q4 2024 revenues: $2.80B–$2.90B (+15.0% to +19.2% YoY).

NIO anticipates continued growth driven by the introduction of new models, expanding production of the ONVO L60, and the upcoming launch of its flagship ET9.