NIO Turns First Profit on Record Sales, Strong Margins

NIO reported its first-ever nett net successful the last 4th of 2025, driven by grounds income and beardown margins, joining the tiny but increasing ranks of profitable electric-vehicle makers successful the world’s largest car market.

The institution is considered 1 of the apical 3 emerging EV brands successful China, alongside XPeng and Li Auto. The automaker had immoderate trouble scaling up income successful the archetypal fractional of past year, but request for its flagship premium SUV, the all-new ES8, has been beardown since its third-quarter launch, and contributions from its mainstream ONVO and affordable Firefly brands person grown.

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The net bushed came arsenic NIO, known for its battery-swapping technology, posted a 72% leap successful fourth-quarter conveyance deliveries, gathering connected the erstwhile quarter’s momentum aft months of subdued sales. The EV shaper delivered a grounds 48,135 units successful December, bringing the quarterly full to 124,807 vehicles, a caller high.

“The NIO All-New ES8 maintained beardown transportation momentum, mounting a caller monthly transportation grounds among vehicles priced supra 400,000 yuan,” Chief Executive William Bin Li said Tuesday. He besides touted the ONVO L90’s performance, which was the best-selling ample battery-electric SUV past year, and the Firefly’s starring presumption successful the premium small-car segment.

The last 4th of the twelvemonth is typically the strongest play for China’s EV marketplace arsenic automakers propulsion to conscionable yearly transportation targets. Rush buying by consumers to bushed changes to authorities incentives for EV purchases this twelvemonth besides helped enactment income toward the extremity of 2025.

The Shanghai-based institution said nett net was 122.4 cardinal yuan for the 3 months ended December, equivalent to $17.7 million, compared with nett nonaccomplishment of 7.13 cardinal yuan a twelvemonth earlier. Revenue roseate 76% to 34.65 cardinal yuan.

Analysts had expected a nett nonaccomplishment of 292.2 cardinal yuan connected gross of 30.31 cardinal yuan, according to a Visible Alpha poll.

For the afloat year, NIO narrowed its nett nonaccomplishment to 15.57 cardinal yuan arsenic gross climbed 33% to 87.49 cardinal yuan.

NIO’s gross borderline roseate to 13.6% past twelvemonth from 9.9% successful 2024. Its fourth-quarter gross borderline improved to 17.5% from 11.7%. The institution said a much favorable merchandise premix supported the stronger margins successful the last 4th of 2025.