Sign up for free newsletters and get more CNBC delivered to your inbox. Polestar Automotive Holding press release ( NASDAQ: PSNY ): Q3 net income of $299.39M Revenue of $435.45M (+104.5% Y/Y). Selling, general and administrative expenses were kept flat due to active cost management. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Foundedby Volvo Car AB (publ.) Polestar reports revenue of USD 1.0 billion, up 95%, for first half of Swedish electric vehicle maker Polestar cut its annual losses in half last year, while revenue surged. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026. Here's a quick guide forhow to read an earnings report. Browse earnings estimates, EPS, and revenue on all stocks. 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%. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Polestar Releases Fourth Quarter and Full Year 2022 Financial Results Polestar's proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022. Represents the markets in which Polestar operates. (in millions of U.S. dollars) (unaudited), Selling, general and administrative expenses. Polestar (Nasdaq: PSNY) will reveal its next car, Polestar 4, at the Shanghai auto show on 18 April 2023. Adjusted net loss is calculated as net loss, adjusted to exclude listing expense, fair value change of earn-out rights, and fair value change of Class C Shares. As of September 30, 2022, Polestar had cash and cash equivalents of $988.26Mas compared to $756.68M as of December 31, 2021. 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. 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. 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. Michael Bloom. Non-GAAP measure. The stock is taking off. Polestar (PSNY) Q4 earnings: EV production ramps up - CNBC Global volumes increased 22,814 to 51,491 cars in 2022, an increase of 80% year on year. Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Shares rose sharply after the report and ended Friday's session up over 20%. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. 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. 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. 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. Polestar went public via a merger with a special purpose acquisition company in June. 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. Polestar Automotive Holding UK PLC's market cap currently stands at around $7.47 billion. The unaudited financial and operational information published in this press release is preliminary and subject to potential adjustments. We plan to capture a rapidly expanding market with our unique business model. 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. Polestar releases fourth quarter and full year 2022 financial results Polestar Automotive Stock (NASDAQ:PSNYW), Earnings Estimates - Benzinga Copy and paste multiple symbols separated by spaces. For 2023, Polestar expects gross margin be "broadly in line" with the 4.9% it reported for 2022, "with volume and product mix supporting margin progression later in the year.". From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 the companys first electric performance SUVdebuted in October 2022. 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. Foreign exchange effect on cash and cash equivalents. Visit the Earnings Calendar to see dates for upcoming earnings announcements. Thomas Ingenlath, Polestar CEO, comments: We left 2022 having exceeded our 50,000 delivery target, grown revenue over 80 percent and with strengthened liquidity. 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. 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 (PSNY) stock debuts on Nasdaq after SPAC merger - CNBC Polestar plans to release three more electric performance vehicles through to 2026. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Type a symbol or company name. Polestar Reports Strong Start to 2022 With Record Sales, Continued Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Following the completion of the call, a replay will be available shortly at https://investors.polestar.com/. 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 reports revenue of USD 1.0 billion, up 95%, for first half of 2022 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 Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more. Polestar expects the effects from product and market mix to continue alongside foreign exchange and input cost inflation. Earnings reports . Electric-vehicle start-up Polestar finished 2022 on a high note with substantially better results than its peers'. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. For the year as a whole, the Company expects gross margin to be broadly in line with 2022, with volume and product mix supporting margin progression later in the year. 2023 CNBC LLC. The company is releasing two new EVs this year Polestar 3 and Polestar 4 that are expected to hit their production strides in 2024. Despite the operating loss, Polestar was able to report a net profit of $299.4 million, or 14 cents per share, thanks to an accounting credit related to the revaluation of future share payouts. Zacks earnings numbers are reported on a BNRI (Before Non Recurring Items) basis and include stock option expenses where possible. Press releases | Polestar 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. Polestar CEO Thomas Ingenlath said the company will use the $890 million raised from the deal to fund its three-year plan to build new vehicles and eventually become profitable. In March 2022, Polestar revealed its second concept car, an electric performance roadster whichbuilds on the design, technology and sustainability ambitions laid out by Precept and showcases the brands vision for future sports cars. Polestar expects to publish its Q3 2022 financial results on November 11, 2022. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Since. The below table summarises key operational results as of June 30, 2022 and June 30, 2021. We want to hear from you. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Volvo Cars Q1 Results: Stable start to 2023, as company continues A Division of NBCUniversal. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period on period comparisons. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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.

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