There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Thomas Ingenlath, Polestar CEO, comments: We left 2022 having exceeded our 50,000 delivery target, grown revenue over 80 percent and with strengthened liquidity. . Total Polestar Automotive Holding Uk earnings for the quarter were -$262.44 million.In the same quarter last year, Polestar Automotive Holding Uk's earnings per share (EPS) was $2.41. Copy and paste multiple symbols separated by spaces. As of April 24, 2023, the average one-year price target for Polestar Automotive Holding UK PLC - ADR is 6.46. CFO Johan Malmqvist said that Polestar's lower operating loss was helped by its efforts to reduce costs, specifically short-term reductions in advertising and marketing spending. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The unaudited financial and operational information published in this press release is preliminary and subject to potential adjustments. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. This measure is reviewed by management and is a relevant measure for understanding cash sourced from operating activities that is available to repay debts, fund capital expenditures, and spend on other strategic initiatives. The below table summarises key financial results for the year ended December 31, 2022. We have a well defined rapid growth strategy. Polestar Automotive Holding UK PLC's market cap currently stands at around $7.47 billion. Get this delivered to your inbox, and more info about our products and services. These symbols will be available throughout the site during your session. Earnings reports . Swedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022. PSNY Earnings Dates, Upcoming and Historical (Polestar Automotive) Polestar (PSNY) Q4 earnings: EV production ramps up - CNBC Browse earnings estimates, EPS, and revenue on all stocks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. As the company seeks to reduce its climate impact with everynewmodel, Polestar aims to produce a truly climate-neutral car by 2030. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030. The Actual Revenue was $435.4M, which beat the estimate of $0K. The revised post corrects the revenue figures from thousand to millions. During the period, Polestar increased its global presence to 23 markets, up from 19 at the end of 2021, putting the company on track to meet its target of 30 markets in aggregate by the end of. Aiming to be operational in 30 markets by the end of 2023, from 19 at the end of 2021. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the three months ended September 30, 2021 to $425.3M for the three months ended September 30, 2022. New to earnings? Polestar Stock: Massive 2023 Guidance Cut (NASDAQ:PSNY) Polestar Automotive Holding UK PLC (PSNY) Earnings Report | Seeking Alpha Is PSNY a Buy? Represents total volumes of new vehicles delivered, including external sales with recognition of revenue at time of delivery, external sales with repurchase commitments and internal sales of vehicles transferred for demonstration and commercial purposes as well as vehicles transferred to Polestar employees at time of registration. Find out with Premium for only $4.95 PSNY Polestar Automotive Holding UK PLC Earnings Date &. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. This measure is reviewed by management and provides a relevant measure for understanding the ongoing operating performance of the business prior to the impact of the non-recurring adjusting item. In February, Polestar signed up eight additional sustainability partners to the ambitious Polestar 0 project to create a truly climate-neutral car by 2030 bringing the total to 24, as well as initiated a collaboration with Rivian on the Pathway Report in response to the climate crisis. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestars ability to maintain agreements or partnerships with its strategic partners, Volvo Cars and Geely, and to develop new agreements or partnerships; (2) Polestars ability to maintain relationships with its existing suppliers, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (3) Polestars reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its reliance on strategic partners for servicing its vehicles and their integrated software; (4) Polestars reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production capacities; (5) competition, the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) Polestars estimates of expenses and profitability; (7) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (8) the possibility that Polestar may be adversely affected by other economic, business, and/or competitive factors; (9) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Polestars future business; (10) changes in regulatory requirements, governmental incentives and fuel and energy prices; (11) the outcome of any legal proceedings that may be instituted against Polestar or others; (12) the ability to meet stock exchange listing standards; (13) risks associated with changes in applicable laws or regulations and with Polestars international operations; (14) Polestars ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (15) delays in the design, manufacture, launch and financing of Polestars vehicles and Polestars reliance on a limited number of vehicle models to generate revenues; (16) Polestars ability to continuously and rapidly innovate, develop and market new products; (17) risks related to future market adoption of Polestars offerings; (18) risks related to Polestars distribution model; (19) the impact of the global COVID-19 pandemic, inflation, interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and logistical constraints on Polestar, Polestars projected results of operations, financial performance or other financial and operational metrics, or on any of the foregoing risks; and (20) other risks and uncertainties set forth in the sections entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statements in Polestars Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. We want to hear from you. While delivering improved earnings for the quarter, despite raw material prices remaining at elevated levels and continued turbulence around the world, Volvo Cars' execution engine remains focused on its . period, Cash and cash equivalents at end of period. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Free cash flow is calculated by subtracting cash flows used for tangible assets and intangible assets from cash used for operating activities. Polestar reports results for the nine months ended September 30, 2022 The company held a conference call for investors at 8:00 AM eastern on the same day. Polestar reports results for the nine months ended September 30, 2022, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/dyei2864. We plan to launch three new models, one per year to 2024. Is this happening to you frequently? The Polestar 1was built between 2019 and 2021 asa low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) the longest of any hybrid car in the world at the time. Polestar posts Q3 Earnings results, trimming operating loss by one We collaborate with kindred spirits on cool projects. Polestar reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. The company improved its cash position to $973.9 million to end last year, up about 29% from a year earlier. Polestar Annual Review 2021 Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. (together with its subsidiaries, Volvo Cars) and Zhejiang Geely Holding Group Co., Ltd (Geely), in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. PR & Communications, Global[emailprotected]. Thomas Ingenlath, Polestar CEO, comments: We made important progress in the first half of 2022 as we doubled revenues and volume, and successfully listed on the Nasdaq stock exchange in New York. Type a symbol or company name. A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. Analyze the earnings history of Polestar Automotive using advanced sorting and filters. Polestar Automotive Holding A (PSNY) Earnings Dates & Reports Earnings report for Polestar Automotive Holding UK PLC [PSNY] There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. (Because Polestar's share price has fallen since it went public, it will have to pay out less than it had previously expected, hence the credit.). The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 350 kW / 476 hp and 680 Nm. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Bojana Flint Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Polestar reports $1 billion revenue in 1H 2022, may deliver 50k EVs PSNY shares gained +5.9% the day following the earnings announcement to close at 5.35. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 350 kW / 476 hp and 680 Nm. Thursday's biggest analyst calls on Wall Street - CNBC Polestar expects to post its financial and operational results for the third quarter of 2022 on Friday, November 11, 2022, before market opening in the USA. With no legacy, our focus is solely on the technologies of the future. Polestar 4 to debut at Shanghai auto show, Polestar reports global volumes for first quarter of 2023, Stay up to date on the latest investor news. They issued an "equal weight" rating and a $7.00 target price on the stock. Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Earnings reports almost always include EPS and Revenue results. Polestar Automotive Holding UK PLC (PSNY) - Yahoo Finance Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 2023.04.18 Polestar 4 is a new breed of SUV coup Polestar (Nasdaq: PSNY) introduces Polestar 4, an electric performance SUV coup and the second SUV in the brand's line-up. Statement Regarding Preliminary Unaudited Financial and Operational Results. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, today reports its results for the nine months ended September 30, 2022. Polestar 2021 Trends Our pillars Living our brand Growth strategy Download our Sustainability Report 2021 Annual Review 2021 Polestar Accelerating the shift to sustainable mobility 01 Polestar 2021 02 Trends 03 Our pillars 04 Living our brand 05 Growth strategy CEO Comment Free access to Real-time quotes, Financial news, Market data and investing analysis. The stock fell more than 5% Wednesday, closing at $5.05 a share. The forecasts range from a . Earnings for Polestar (PSNY) Earnings in 2022 (TTM): -$0.46 B According to Polestar's latest financial reports the company's current earnings (TTM) are -$0.46 B.In 2021 the company made an earning of -$1.01 B a decrease over its 2020 earnings that were of -$0.48 B.The earnings displayed on this page is the company's Pretax Income. The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. Polestar reports revenue of USD 1.0 billion, up 95%, for first half of 2022 Polestar Automotive Holding UK PLC ("Polestar" or the "Company," Nasdaq: PSNY), the Swedish electric performance car brand, reports its financial results for the first six months of 2022. Data is a real-time snapshot *Data is delayed at least 15 minutes. 2023 CNBC LLC. Hertz reports earnings beat with updates on EV fleet Following the completion of the call, a replay will be available shortly athttps://investors.polestar.com/. Polestar Automotive Stock (NASDAQ:PSNY), Earnings Estimates, EPS, and Revenue Polestar Automotive reports earnings on a quarterly basis. The below table summarises key preliminary operational results as of and for the year ended December 31, 2022. Represents Polestar retail and handover locations, including Polestar Spaces, Polestar Destinations and Polestar Test Drive Centers. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Polestar has added six new markets since the start of 2022, including United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain and Portugal. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, reports its preliminary unaudited financial and operational results for the year ended December 31, 2022. Polestar Automotive Holding UK (PSNY) Earnings Date & Reports 523 Followers Earnings Data Report Date Nov 10, 2023 Not Confirmed Period Ending 2023 (Q3) Consensus EPS Forecast Last Year's EPS -$0.14 Same Quarter Last Year Analyst Consensus Hold Based on 2 Analysts Ratings Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History And in a surprise for a pure-play EV-maker, the company. Revenue increased USD 506.5 million, or 95%, mainly driven by an increase in Polestar 2 vehicle sales with continued commercial expansion across markets. Polestar has produced two electric performance cars. "It's an exciting year for us in terms of changing the company to not only having one product but three at the end of the time," Ingenlath told CNBC during a video interview. Polestar reports revenue of USD 1.0 billion, up 95%, for first half of Head of Investor Relations[emailprotected], Tanya Ridd Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. . Hertz made plans to buy 175,000 EVs from GM in September 2022. Sign up for free newsletters and get more CNBC delivered to your inbox. Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) the longest of any hybrid car in the world at the time. Open this in the Investing.com app to get the full experience. Polestar 4, a smaller electric performance SUV coupe,is expected to follow in 2023. Since. Fusion Mediaandany provider of the data contained in this websitewill not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. Revenue increased USD 1,124.7 million, or 84%, mainly driven by higher Polestar 2 vehicle sales with continued commercial expansion across markets. Type a symbol or company name. Polestar Automotive reported Q3 revenue of $435.4 million, up 104% year-over-year. In addition, we maintained strong momentum in our global order take and expect to deliver 50,000 cars to our customers this year, meeting our 2022 sales guidance. The company delivered on its global sales target of 29,000 vehicles in 2021, representing year-on-year growth exceeding 185%. Furthermore, in late August 2022, Polestar entered into an additional credit facility with one of those banks for approximately USD 145 million. Revenue: $435.4. Got a confidential news tip? For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. The company specializes in luxury vehicles. Polestar's proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022. Morgan Stanley upgrades GM, says stock is oversold, merger with a special-purpose acquisition company. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. 2023, Nasdaq, Inc. All Rights Reserved. In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology. Design cues first seen on Polestars concept cars are brought to production in the fastest Polestar production car to date. Polestar Automotive reports earnings on a quarterly basis. The below table summarises key financial results for the quarter ended December 31, 2022. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. Transformative ambition, including a climate neutral car by 2030. The Polestar 3 electric performance SUV is scheduled for its world premiere in October 2022 in Copenhagen. Polestar's Earnings Stand Out Versus EV Rivals Preliminary Unaudited Condensed Consolidated Statement of Loss, (in thousands of U.S. dollars unless otherwise stated), Selling, general, and administrative Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. Polestar expects the effects from product and market mix to continue alongside foreign exchange and input cost inflation. The below table summarises key operational results as of June 30, 2022 and June 30, 2021. Get this delivered to your inbox, and more info about our products and services. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. Volvo Cars Q1 Results: Stable start to 2023, as company continues PSNY Analysts Price Targets Currently no data available. expense, Preliminary Unaudited Condensed Consolidated Statement of Financial Position, Trade receivables external and trade receivables and The company showed solid growth when it. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Here's a quick guide forhow to read an earnings report. - including external vehicles with This increase is primarily due to rapid commercial expansion, with Polestar increasing its global presence significantly during the period. Selling, general and administrative expenses were kept flat due to active cost management. Polestar Automotive Holding UK PLC (PSNY) Is Worth Looking Despite A In 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales, and later in the year the first deliveries of Polestar 3.. Polestar is headquartered in Gothenburg, Sweden, and its vehicles arecurrentlyavailable and on the road in markets across Europe, North America,Chinaand Asia Pacific. Polestar has 125 locations and 934 service points across its markets, up 22 and 123 respectively, since the end of 2021. Data is a real-time snapshot *Data is delayed at least 15 minutes. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. Entering text into the input field will update the search result below, Polestar Automotive Holding UK PLC (PSNY). Polestar Automotive (PSNY) is scheduled to report earnings on May 30, 2023. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Polestar Reports Strong Start to 2022 With Record Sales, Continued Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. It is possible that this date will be updated in the future, once the company announces the actual date. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. Items that may be subsequently reclassified to the Unaudited Condensed Consolidated Statement of Loss: Exchange rate differences from translation of foreign operations, Other non-current interest-bearing liabilities, Interest-bearing current liabilities - related parties, Adjustments to reconcile Net loss to net cash flows, Change in operating assets and liabilities, Trade receivables, prepaid expenses and other assets, Trade payables, accrued expenses and other liabilities, Additions to property, plant and equipment, Principal repayments of short-term borrowings, Principal repayments of lease liabilities, Proceeds from the issuance of share capital and other contributed capital, Effect of foreign exchange rate changes on cash and cash equivalents, Total revenue of USD 1,041.3 million in the first six months of 2022, up 95% year-over-year, 21,185 cars delivered in the first six months of 2022, compared to 9,510 for the same period in 2021, Cash and cash equivalents of USD 1,381.6 million as of June 30, 2022, up more than 80% since the end of 2021, following successful listing on Nasdaq stock exchange in New York. Our business will continue to gain momentum through the year as we start producing Polestar 3 - and with Polestar 4 in the starting blocks.. In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution ofthePolestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. Polestar Automotive Holding Uk PLC Earnings & Revenue - WallStreetZen Our cars have been widely recognised for outstanding design and performance. As of September 30, 2022, Polestar had cash and cash equivalents of $988.26Mas compared to $756.68M as of December 31, 2021. The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. other contributed capital, Effect of foreign exchange rate changes on cash and "As our cars are produced in China, the majority of our costs are in renminbi, which has strengthened against European currencies, leading to a higher cost of sale," Malmqvist said during the earnings call. Polestar 2 launched in 2019 as the electric performance fastback with avant-garde Scandinavian design and up to 350 kW. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Guidance on revenue, volumes, gross margin and other financial or operating metrics, such as the ones included in the 2023 outlook described in this press release, are forward-looking statements.