polestar earnings report

The concept further develops the focus on sustainability and technology, aiming towards greater circularity. period, Cash and cash equivalents at end of period. 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. The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. Polestar Automotive Stock (NASDAQ:PSNY), Earnings Estimates - Benzinga Following the completion of the call, a replay will be available shortly at https://investors.polestar.com/. Polestar (Nasdaq: PSNY) will reveal its next car, Polestar 4, at the Shanghai auto show on 18 April 2023. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. 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. With no legacy, our focus is solely on the technologies of the future. Polestar Stock: Massive 2023 Guidance Cut (NASDAQ:PSNY) But supply-chain disruptions are still an issue, and exchange-rate pressures will likely continue into 2023. Polestar uses both generally accepted accounting principles ("GAAP," i.e., IFRS) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance, for internal comparisons to historical performance, and for financial decision-making purposes. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. Polestar reports results for the nine months ended September 30, 2022 on June 23, 2022. Here are the key numbers from Polestar's third-quarter earnings report, its first as a public company following its merger with a special-purpose acquisition company in June. Sign up for free newsletters and get more CNBC delivered to your inbox. We want to hear from you. It is possible that this date will be updated in the future, once the company announces the actual date. Polestar Automotive Holding Uk PLC Earnings & Revenue - WallStreetZen 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. This measure is reviewed by management and is a relevant measure for understanding the underlying performance of Polestar's recurring core business operations. Polestar reports revenue of USD 1.0 billion, up 95%, for first half of Polestar expects to deliver on its full-year target of 50,000 cars. From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 the companys first electric performance SUV which is expected to debut in October 2022. 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. The company showed solid growth when it. Thomas Ingenlath, Polestar CEO, comments: We left 2022 having exceeded our 50,000 delivery target, grown revenue over 80 percent and with strengthened liquidity. Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Non-GAAP measure. Transferred vehicles for demonstration and commercial purposes are owned by Polestar and included in Inventory. Polestar Automotive Holding UK PLC Class A ADS (PSNY) Earnings Report 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. Earnings reports . The company plans to create a truly climate-neutral production car, without offsetting, by 2030. Gross profit increased USD 118.5 million, as. Shares rose sharply after the report and ended Friday's session up over 20%. Hertz reports earnings beat with updates on EV fleet Type a symbol or company name. Furthermore, in late August 2022, Polestar entered into an additional credit facility with one of those banks for approximately USD 145 million. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. Find out with Premium for only $4.95 PSNY Polestar Automotive Holding UK PLC Earnings Date &. 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 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 Polestar Automotive Holding press release ( NASDAQ: PSNY ): Q3 net income of $299.39M Revenue of $435.45M (+104.5% Y/Y). PR & Communications, Global[emailprotected]. (in millions of U.S. dollars) (unaudited), Selling, general and administrative expenses. Polestar Automotive reports earnings on a quarterly basis. Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. . Variances for Q4 2022 versus Q4 2021 largely followed the trends outlined for 2022 versus 2021, with the following notable exceptions: The below table summarises cash flow for the year ended December 31, 2022. The Actual EPS was $0.14, which beat the estimate of $0.00. Polestar meets global sales target of approximately 29,000 cars, Polestar dedicates team to Polestar 0 project, Polestar releases downloadable performance software upgrade for Polestar 2, Polestar calls for transparency and accelerating the shift to electric mobility at COP26, Polestar signs agreement to be publicly listed through combination with Gores Guggenheim, Polestar strengthens management team and expands engineering capabilities, Polestar receives prestigious design awards, Polestar raises USD 550 million from new investors, Polestar 2 wins Best of Best at 2021 Red Dot awards, Polestar reduced the greenhouse gas emissions per sold car by 6%. Polestar Automotive Holding UK PLC Class A ADS, Do Not Sell My Personal Information (CA Residents Only). Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more. 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. The upcoming GM earnings report should . 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%. Our pure, minimalist design guides everything we do. Polestar Automotive Holding UK PLC's market cap currently stands at around $7.47 billion. Our cars have been widely recognised for outstanding design and performance. Sign up for free newsletters and get more CNBC delivered to your inbox. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post Polestar went public via a merger with a special purpose acquisition company in June. Polestar Automotive Holding A 3.40 -0.10 -2.86% General Chart News & Analysis Financials Technical Forum Financial Summary Income Statement Balance Sheet Cash Flow Ratios Dividends Earnings. All 500 build slots of Polestar 6 LA Concept edition were reserved online within a week of the production announcement. 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 market for premium luxury BEV/PHEV vehicles in which we operate is expected to grow +29% CAGR 2020-2025E. Malmqvist declined to comment on when the company expects to breakeven or turn a profit, saying "We remain confident in the fundamentals of our business, so we have the levers and the building blocks to get to breakeven.". The company held a conference call for investors at 8:00 AM eastern on the same day. Polestar will release Q123 financial results on May 11, 2023. Represents Volvo Cars service centres which provide customers access to service points worldwide in support of Polestars international expansion. 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. Polestar has produced two electric performance cars. GOTHENBURG, SWEDEN 2 March 2023. All Rights Reserved. Polestar's third-quarter operating loss was significantly narrower than a year ago, and its revenue more than doubled. 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. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. While liquidity has strengthened, including a cash balance of approximately, In early January, Polestar announced that its vehicles will benefit from the latest enhancements and developments by. Recent developments design, innovation, sustainability. 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. 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. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Selling, general and administrative expenses increased USD 167.9 million, or 60%. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. 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. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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