The below table summarises key operational results as of June 30, 2022 and June 30, 2021. PolestarAutomotive Holding UK PLC (Nasdaq: PSNY) (Polestar) isa Swedish premium electric vehicle manufacturer. Published Thu, Apr 27 20238:45 AM EDT. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Preliminary Unaudited Condensed Consolidated Statement of Loss, (in thousands of U.S. dollars unless otherwise stated), Selling, general, and administrative Represents Polestar retail and handover locations, including Polestar Spaces, Polestar Destinations and Polestar Test Drive Centers. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. Gross profit increased USD 17.6 million, or 49%, as the result of higher sales of Polestar 2, partially offset by product and market mix. Online accessibility with expanding retail presences across existing and new markets. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. New to earnings? The upcoming earnings date is derived from an algorithm based on a company's historical reporting. Its adjusted operating loss narrowed by 8% to $914 million, while its adjusted earnings before interest and taxes, depreciation and amortizationincreased 4.8% to $759 million. We collaborate with kindred spirits on cool projects. The below table summarises key preliminary operational results as of and for the year ended December 31, 2022. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Shares rose sharply after the report and ended Friday's session up over 20%. Polestar increased its global presence from 10 to 19 markets in . Read more 1 2 3 4 For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Polestar Automotive Holding UK PLC (PSNY) Earnings Report | Seeking Alpha Is PSNY a Buy? Polestar has 125 locations and 934 service points across its markets, up 22 and 123 respectively, since the end of 2021. Visit the Earnings Calendar to see dates for upcoming earnings announcements. GOTHENBURG, SWEDEN NOVEMBER 11, 2022. Recent developments design, innovation, sustainability. Polestars Annual Report on Form 20-F is expected to be filed with the, Polestars 2022 Sustainability Report is expected to be published in, Polestar expects to post its unaudited financial results for the quarter ended. 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. Hertz initially offered Tesla and Polestar EVs, ordering 100,000 units from Tesla at the end of 2021 and 65,000 from Polestar. In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of the Polestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. Polestar has produced two electric performance cars. Polestar expects to publish its Q3 2022 financial results on November 11, 2022. 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. Polestar defines adjusted operating loss as operating loss, adjusted to exclude listing expense. Our digital first, direct to consumer approach favours strong customer relations. The company showed solid growth when it. Those numbers imply deliveries of about 19,600 vehicles in the fourth quarter, producing about $924 million in revenue and those vehicles are already built and in transit to customers now, he said. Our business will continue to gain momentum through the year as we start producing Polestar 3 - and with Polestar 4 in the starting blocks.. At the time of its public debut in late June, Polestar was already in production and had more than 55,000 of its vehicles on the road around the world. The company is releasing two new EVs this year Polestar 3 and Polestar 4 that are expected to hit their production strides in 2024. Global volumes increased to 21,185 cars in the first six months of 2022, more than doubling deliveries from 9,510 cars in the same period in 2021, an increase of 123%. Nasdaq provides visual representation of analyst expected earnings growth. The live webcast will be available athttps://edge.media-server.com/mmc/p/dyei2864. 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. Polestar's CEO and CFO will hold a. Potential adjustments to operational and consolidated financial information may be identified from work performed during Polestars year-end audit. The Company also announced Polestar 3 with Luminar LiDAR is available to order, and an expanded partnership with Luminar to work on the integration of LiDAR in Polestar 5. cash equivalents, Net increase in cash and cash equivalents, Cash and cash equivalents at beginning of Please. Since. 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. Do Not Sell My Personal Data/Privacy Policy. Earnings reports . Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Data is a real-time snapshot *Data is delayed at least 15 minutes. (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.). Polestar expects to deliver on its full-year target of 50,000 cars. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. 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. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. 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. Bojana Flint Selling, general and administrative expenses increased USD 167.9 million, or 60%. Got a confidential news tip? The measures may not be the same as similarly titled measures used by other companies due to possible differences in calculation methods and items or events being adjusted. Shares of NASDAQ PSNY opened at $3.83 on Monday. 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. Polestar Automotive (PSNY) is scheduled to report earnings on May 30, 2023. Malmqvist said that Polestar still expects to deliver 50,000 vehicles in 2022, generating about $2.4 billion in revenue for the full year, both in line with its prior guidance. The below table summarises key financial results for the year ended December 31, 2022. The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar Automotive Holding Uk Plc A (PSNY). Got a confidential news tip? On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. 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. This measure is reviewed by management and is relevant measure for understanding the underlying operating results and trends of the business prior to the impact of any adjusting items. Foundedby Volvo Car AB (publ.) Polestar Automotive Holding UK has a 1 year low of $3.14 and a 1 year high of $13.36. PSNY Stock Soars After Polestar Reports Q3 Earnings . Thursday morning, Polestar Automotive Holding UK. Get this delivered to your inbox, and more info about our products and services. Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. 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. Investor Update, Managements Discussion and Analysis of Financial Conditions and Results of Operations and Unaudited Condensed Consolidated Financial Statements are available on the Polestar investor relations website and will be filed with the SEC. 2023, Nasdaq, Inc. All Rights Reserved. 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. But Ingenlath. Following the completion of the call, a replay will be available shortly athttps://investors.polestar.com/. The measures are not presented under a comprehensive set of accounting rules and, therefore, should only be read in conjunction with financial information reported under GAAP when understanding Polestar's operating performance. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets. As of September 30, 2022, Polestar had cash and cash equivalents of $988.26Mas compared to $756.68M as of December 31, 2021. For the avoidance of doubt, the preliminary unaudited operational and financial information published in this press release should not be considered a substitute for the financial information to be filed with the SEC in Polestars Annual Report on Form 20-F for the year ended December 31, 2022. 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. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. Polestar's proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022. Head of Investor Relations[emailprotected], Tanya Ridd The data and prices on the website are notnecessarilyprovided by any market or exchange, but may be provided bymarket makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. 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. Is this happening to you frequently? Polestar's third-quarter operating loss was significantly narrower than a year ago, and its revenue more than doubled. Type a symbol or company name. Investor Relations[emailprotected], Jonathan Goodman Founded by Volvo Car AB (publ.) Polestar Automotive Holding Uk Limited - Class A Ads Earnings Dates, Upcoming and Historical PSNY last earnings on March 02, 2023 before the market opened (BMO). As of April 24, 2023, the average one-year price target for Polestar Automotive Holding UK PLC - ADR is 6.46. Read our earnings report guide before you consider the forecast information when making investment decisions. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Our cars have been widely recognised for outstanding design and performance. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. 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. The 2024 model year will feature a new high-tech front end that reflects the design language premiered by Polestar 3, substantial performance increases with all-new electric motors, even more powerful batteries, longer range, sustainability improvements and, for the first time in a Polestar, rear-wheel drive.