NIO Reaches First Operating Profit of RMB1.25 Billion on RMB87.5 Billion Q4 Revenue
NIO delivered RMB87.5 billion in Q4 revenue and achieved a gross profit of RMB11.9 billion, translating to its first non-GAAP operating profit of RMB1.25 billion. Year-to-date deliveries reached 47,979 units with January and February volumes of 27,182 and 20,797, while Q1 guidance targets 80,000-83,000 vehicles.
1. Q4 Financial Performance
NIO posted RMB87.5 billion in fourth-quarter revenue, representing an 81% year-over-year increase, while gross profit rose to RMB11.9 billion as margins improved through production efficiencies and cost controls. The company recorded its first non-GAAP operating profit of RMB1.25 billion, highlighting a major profitability milestone.
2. Delivery Trends
Vehicle sales grew 65% sequentially and 81% year-over-year, driven by new models and expanded production. In January and February, NIO delivered 27,182 and 20,797 vehicles respectively, bringing cumulative deliveries since launch to approximately 1.05 million units.
3. Q1 2026 Outlook
Management forecasts first-quarter deliveries between 80,000 and 83,000 vehicles, implying year-over-year growth of roughly 90% to 97%. This guidance underscores continued strong demand and supports expectations for further revenue and profit expansion.