NIO has reported anoperational profit (non-GAAP) for the second quarter in a row, as well as a decrease in net loss, but the stock price dropped 7.14% in the past day and is down 14.33% across five days. Sales, total revenues, gross profit, and gross margin all showed significant improvements in the quarter.
NIO has published its first quarter financials. There’s good news and less good news. The company was able to achieve an operational profit (non-GAAP) for the second quarter in a row, as well as an adjusted net profit (non-GAAP).
However, the company didn’t achieve a GAAP operational profit or GAAP net profit, and the stock (NYSE:NIO) took a hit as a result. The stock price dropped 7.14% in the past day, and it is down 14.33% across five days. Sales were up 129.2%, total revenues were up 112.2%, gross profit was up 428.4%, and gross margin jumped from 7.6% to 19.0%.
The company went from a huge non-GAAP operational loss and huge non-GAAP net profit in the first quarter of last year to the aforementioned non-GAAP operational profit and non-GAAP net profit
NIO Financial Report Operational Profit Non-GAAP Income Stock Price Drop Vehicle Sales Financial Performance Adjusted Net Profit Adjusted Net Loss Share-Based Compensation Expenses
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