NEW YORK, Feb 5, 2026, 12:55 (EST)
- Nio projects its first quarterly adjusted operating profit in Q4 2025
- Company cites stronger vehicle sales and stricter cost controls
- U.S.-listed shares edged higher in early trading
Chinese EV maker Nio forecasts its first-ever adjusted operating profit in Q4 2025, driven by stronger vehicle sales and tighter cost controls. Shares of the U.S.-listed company jumped about 9% in premarket trading. Nio projects adjusted operating profits between 700 million yuan ($100.84 million) and 1.2 billion yuan ($172.88 million). It also expects to deliver 326,028 vehicles in 2025, a 47% increase, with the more affordable Firefly subcompact model launching mid-year.
The outlook arrives at a sensitive time for the company: investors want proof that delivery growth will lead to more than just shrinking losses. Posting a profitable quarter, even after adjustments, usually shifts the nature of the questions that come next.
This also provides a clearer test to see if Nio’s cost pressures are structural or just a one-off spike. When automakers discuss “profitability,” the details often matter far more than the headline figure.
Adjusted results usually fall outside standard U.S. GAAP rules. Firms apply them to exclude specific expenses and highlight what they consider core performance, though these tweaks can complicate cross-company comparisons.
Nio’s profit alert noted that the adjusted operating profit excludes share-based compensation expenses—stock and options granted to employees—and stressed these figures are preliminary, drawn from unaudited management accounts. The company expects operating profit under U.S. GAAP to range between 200 million yuan and 700 million yuan this quarter, attributing the variance to sales volume growth, a stronger product mix boosting vehicle margins, and broader cost cuts alongside efficiency improvements.
Nio shares jumped nearly 9.7% to $4.87 in U.S. trading, according to MarketScreener data.
The company has expanded its lineup by adding Firefly, targeting buyers below its premium models. This broader mix plays a key role in the margin narrative it’s pushing.
Nio goes head-to-head with larger EV makers like Tesla and BYD, while U.S.-listed Chinese rivals XPeng and Li Auto are also racing to scale up. Profit—and the roadmap to achieve it—has turned into the recurring focus during investor calls.
The next update arrives when Nio releases its full quarterly and annual results, letting investors compare the adjusted figures against GAAP numbers. If the gap remains large, the argument over what counts as “real” profitability won’t quiet down anytime soon.
