NIO (NIO) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Consumer Discretionary· May 21, 2026

Source: earnings call transcript

NIO delivered robust Q1 FY26 results, driven by strong EV delivery growth and significant margin expansion across both vehicle and other sales segments. The company is navigating rising material costs through strategic product mix and supply chain optimization, while continuing an aggressive product launch cycle across its NIO, ONVO, and FIREFLY brands. Commitment to BEV and full-stack technology development underpins its long-term competitiveness and premium brand positioning.

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NIO operating KPIs by quarter

NIO operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2025 Q4 FY25	This call Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Vehicle deliveries	124.807K In Q4 2025, we delivered 124,807 smart EVs, achieving a year-over-year increase of 71.7%. Source: earnings call transcript	83.465K In Q1 2026, the company delivered a total of 83,465 smart EVs, representing a year-over-year increase of 98.3%. Source: earnings call transcript	107.658K In Q2, the company delivered a total of 107,658 smart EVs, achieving year-over-year growth of 49.4%. Source: earnings call transcript	+29%
Stores ONVO	420 On the sales side, we currently operate 171 NIO houses and 395 NIO spaces, while ONVO has 420 stores. Source: earnings call transcript	430 In terms of sales and service networks, the company now operates 168 new houses, 389 new spaces, 430 ONVO stores as well as 408 service centers and 90 delivery centers. Source: earnings call transcript	441 On the sales and service front, so far, the company has 165 new houses, 376 new spaces, 441 ONVO stores as well as 420 service centers and 93 delivery centers. Source: earnings call transcript	+2.6%
Service centers	406 For the service network, we have 406 service centers and 75 delivery centers. Source: earnings call transcript	408 In terms of sales and service networks, the company now operates 168 new houses, 389 new spaces, 430 ONVO stores as well as 408 service centers and 90 delivery centers. Source: earnings call transcript	420 On the sales and service front, so far, the company has 165 new houses, 376 new spaces, 441 ONVO stores as well as 420 service centers and 93 delivery centers. Source: earnings call transcript	+2.9%
Delivery centers	75 For the service network, we have 406 service centers and 75 delivery centers. Source: earnings call transcript	90 In terms of sales and service networks, the company now operates 168 new houses, 389 new spaces, 430 ONVO stores as well as 408 service centers and 90 delivery centers. Source: earnings call transcript	93 On the sales and service front, so far, the company has 165 new houses, 376 new spaces, 441 ONVO stores as well as 420 service centers and 93 delivery centers. Source: earnings call transcript	+3.3%
Power swap stations	3,815 As of now, we have 3,815 power swap stations and more than 28,000 power chargers and destination chargers worldwide. Source: earnings call transcript	3,916 As of now, the company has 3,916 power swap stations worldwide, along with more than 28,000 power chargers and destination chargers. Source: earnings call transcript	4,123 In terms of the power network, at present, the company has 4,123 power swap stations and 30,294 power chargers and destination chargers worldwide. Source: earnings call transcript	+5.3%
Vehicle deliveries NIO	—	58.543K Breaking it down by brand, NIO brand delivered 58,543 vehicles, maintaining its leadership in China's BEV segment priced above RMB 300,000. Source: earnings call transcript	60.945K More specifically, the NIO brand delivered 60,945 vehicles, leading China's passenger vehicle market with transaction prices above RMB 350,000 across all powertrain types. Source: earnings call transcript	+4.1%
Vehicle deliveries ONVO	—	13.339K The ONVO brand delivered 13,339 vehicles, continuing to unlock its growth potential. Source: earnings call transcript	29.124K The ONVO brand delivered 29,124 vehicles, demonstrating strong growth momentum, and the FIREFLY brand delivered 17,589 vehicles, maintaining its leadership in the high-end compact car market. Source: earnings call transcript	+118.3%
Vehicle deliveries FIREFLY	—	11.583K The FIREFLY brand delivered 11,583 vehicles, ranking #1 in China's high-end small car segment. Source: earnings call transcript	17.589K The ONVO brand delivered 29,124 vehicles, demonstrating strong growth momentum, and the FIREFLY brand delivered 17,589 vehicles, maintaining its leadership in the high-end compact car market. Source: earnings call transcript	+51.9%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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