Friday, September 4, 2026

NIO's record Q2 revenue and deliveries miss its own guidance

By Venture AtlasCorrections

NIO

NIO reported unaudited second-quarter 2026 results on September 1, 2026: revenue of RMB32.14 billion (up 69.1% year over year) on record deliveries of 107,658 vehicles (up 49.4% year over year), but both figures came in below NIO's own guidance of 111,000-115,000 deliveries and roughly $4.95 billion in revenue. Vehicle margin held at 18.5% and non-GAAP operating profit was positive for a third straight quarter (RMB206.9 million), though GAAP operations swung back to a loss as management cited a memory-chip cost headwind of about RMB14,000 per vehicle. NIO guided third-quarter deliveries of 108,000-111,000 units and shares fell about 4.4% on the report.