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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
NIO
NIO (NIO) investor relations material
NIO Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary1 Sep, 2026
Executive summary
Q2 2026 deliveries reached 107,658 smart EVs, up 49.4% year-over-year, with all three brands—NIO, Onvo, and Firefly—achieving both year-over-year and quarter-over-quarter growth in sales volume and average transaction price.
Gross margin improved to 18.4%, supported by higher-margin products and cost optimization, despite rising raw material and chip costs.
Non-GAAP operating profit and positive free cash flow were achieved, with cash reserves increasing to RMB 56.7 billion.
Net loss narrowed significantly to RMB 528.0 million, while adjusted net profit (non-GAAP) was RMB 26.1 million.
Flagship models ES8 and ES9 maintained strong demand, with ES8 surpassing 140,000 deliveries in 11 months and ES9 requiring a 3-4 month wait for new orders.
Financial highlights
Total Q2 revenues were RMB 32.1 billion, up 69.1% year-over-year and 25.9% quarter-over-quarter.
Vehicle sales reached RMB 29.1 billion, up 80.1% year-over-year and 27.5% quarter-over-quarter.
Vehicle margin was 18.5%, up from 10.3% in Q2 last year; overall gross margin was 18.4%, up from 10% last year.
R&D expenses were RMB 2.1 billion, down 28.7% year-over-year but up 13.8% quarter-over-quarter.
SG&A expenses were RMB 4.4 billion, up 11.6% year-over-year and 22.5% quarter-over-quarter, mainly due to new product launches.
Net loss was RMB 0.5 billion, down 89.4% year-over-year; adjusted net profit was RMB 26.1 million.
Outlook and guidance
Q3 deliveries expected between 108,000 and 111,000 units.
Q3 2026 total revenues projected between RMB 33,285 million and RMB 34,051 million, up 52.7% to 56.2% year-over-year.
Q4 targeted at over 40,000 units per month; annual volume growth expected at 40%-50% mid- to long-term.
Vehicle margin expected to remain stable despite further cost increases of RMB 2,000-3,000 per car in H2.
SG&A as a percentage of sales revenue expected to decrease to 10%-11% in H2.
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Latest events from NIO
- Q1 2026 delivered strong growth in EV sales, margins, and cash flow, with sharply reduced net loss.NIO
Q1 2026 - Record Q4 deliveries and first non-GAAP operating profit signal strong growth for 2026.NIOQ4 2025
- Q3 2025 deliveries rose 40.8% YoY, with gross margin at a three-year high and positive cash flow.NIOQ3 2025
- Q2 deliveries surged 25.6% YoY, with revenue, margins, and new model momentum improving.NIOQ2 2025
- Record Q3 deliveries and margin gains set the stage for strong growth despite a wider net loss.NIOQ3 2024
- Record Q2 deliveries and margin gains drive revenue surge and narrower net loss.NIOQ2 2024
- Q2 guidance signals strong delivery and revenue rebound, driven by new brands and investments.NIOQ1 2024
- Record deliveries and revenue growth in 2024, with breakeven and doubled sales targeted for 2025.NIOQ4 2024
- Q1 2025 deliveries rose 40.1% year-over-year; Q2 rebound expected with new models.NIOQ1 2025
Next NIO earnings date
Q3 202624 Nov, 2026
NIO
Next NIO earnings date
Q3 202624 Nov, 2026
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Frequently asked questions
The Chinese EV
NIO Inc. is a Chinese electric vehicle (EV) manufacturer listed on the NYSE that was founded in 2014. The company is headquartered in Shanghai and aims to become an established alternative to other producers of electrical cars, riding on the waves created by the rising demand for EVs. NIO's product lineup includes electric SUVs, sedans, and advanced battery-swapping technology that enables rapid charging and enhances the overall convenience of EV ownership. With a strong emphasis on technological innovation, design, and sustainability, NIO aims to be one of the key players in the global shift toward electric transportation.
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Founded in 2014 by William Li, NIO seized opportunities in the expanding EV market. Their vision to create high-performance EVs and advanced mobility solutions aligned with the global push for sustainability. The company's rapid growth can be attributed to strong financial backing from investors, enabling significant investments in R&D and manufacturing. Effective marketing and brand positioning, particularly in China, have also contributed to building a loyal customer base. NIO has positioned itself to compete directly with both EV-centered companies such as Tesla and Lucid, as well as traditional car manufacturers making the shift towards an electrified future.
Convenient and Quick Charging
NIO's rapid charging technology, known as the "Power Swap" system, is one of its notable features. The Power Swap system allows NIO owners to quickly exchange their electric vehicle's depleted battery with a fully charged one at dedicated NIO battery swap stations. This process takes only a few minutes, making it significantly faster than traditional charging methods. This is something that has been well-received in China and is being rolled out in various markets around the globe. NIO’s cars are also able to connect to a wide array of different charging stations from different providers.
NIO places a significant emphasis on offering premium electric vehicles (EVs) in the automotive market. Their approach centers on providing high-performance and technologically advanced EVs through modern features such as a cockpit with an advanced infotainment system, while also placing a focus on build quality and providing a product that feels robust and luxurious.