NIO Achieves Back-to-Back Quarterly Profits in Q1 2026, with Revenue and Gross Margin Hitting Four-Year Highs

NIO Releases Q1 2026 Financial Results The company reported an operating profit of RMB 668 million for the quarter, marking its second consecutive quarter of profitability. Total revenue reached RMB 25.53 billion, up 112.2% year-over-year. Gross profit totaled RMB 4.86 billion, a 428.4% increase compared to the same period last year. NIO achieved a consolidated gross margin of 19.0%, with vehicle gross margin at 18.8% and other sales gross margin at 20.6%—all three metrics reaching their highest levels in four years. Notably, the vehicle gross margin has increased sequentially for four consecutive quarters. As of the end of Q1, the company’s cash reserves rose to RMB 48.2 billion, and it recorded positive operating cash flow for the third straight quarter. For Q2 2026, NIO expects deliveries to range between 110,000 and 115,000 vehicles, representing year-over-year growth of 52.7% to 59.6%. Revenue is projected to be between RMB 32.78 billion and RMB 34.44 billion, an increase of 72.4% to 81.2% year-over-year.