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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.". 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. In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brands vision for future sports cars. Polestar Annual Review 2021 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. In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution ofthePolestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. With several ground-breaking cars to come, Polestar is poised for a period of rapid growth.. Represents Volvo Cars service centres which provide customers access to service points worldwide in support of Polestars international expansion. Polestar reports results for the nine months ended September 30, 2022, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/dyei2864. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific. Polestar (PSNY) stock debuts on Nasdaq after SPAC merger - CNBC . 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 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 2023 CNBC LLC. Polestar 4, a smaller electric performance SUV coupe,is expected to follow in 2023. 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. Polestar reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. Please disable your ad-blocker and refresh. Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. A Division of NBCUniversal. 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 The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. This was corrected on 11/11/2022 at 8:13 AM. Polestar reports $1 billion revenue in 1H 2022, may deliver 50k EVs 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 Automotive Holding reports Q3 results | Seeking Alpha The stock is taking off. Electric-vehicle start-up Polestar finished 2022 on a high note with substantially better results than its peers'. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post 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. 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. But supply-chain disruptions are still an issue, and exchange-rate pressures will likely continue into 2023. 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. Unaudited Reconciliation of GAAP and Non-GAAP Results, Investing cash flows used for tangible assets, Investing cash flows used for intangible assets, Polestar releases fourth quarter and full year 2022 financial results, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/gp4rk9mk, 51,491 cars delivered in 2022, compared to 28,677 in 2021, an increase of 80%, Selling, general and administrative expenses increased, Research and development expenses decreased. Polestar will release Q123 financial results on May 11, 2023. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. Swedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022. Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Rating) - Investment analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for shares of Polestar Automotive Holding UK in a research note issued on Thursday, April 27th.Cantor Fitzgerald analyst A. Sheppard anticipates that the company will post earnings of ($0.53) per share for the year. 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. And in a surprise for a pure-play EV-maker, the company. When autocomplete results are available use up and down arrows to review and enter to select. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. A Division of NBCUniversal. Volvo Cars Q1 Results: Stable start to 2023, as company continues PSNY Earnings Dates, Upcoming and Historical (Polestar Automotive) Polestar PSNY earnings: Lower operating loss, confirms guidance - CNBC Get this delivered to your inbox, and more info about our products and services. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. Polestar Automotive Holding UK PLC Class A ADS (PSNY) Earnings Report "I would like to reiterate: Polestar is a real car company," CEO Thomas Ingenlath said during the earnings call. The company improved its cash position to $973.9 million to end last year, up about 29% from a year earlier. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, reports its global volumes for the first quarter of 2023. Polestar ended the third quarter with about $988 million in cash, and it has since secured a $1.6 billion credit line from its two main owners, Volvo Cars and Chinese automaker Geely. Zacks earnings numbers are reported on a BNRI (Before Non Recurring Items) basis and include stock option expenses where possible. Polestar (PSNY) Q4 earnings: EV production ramps up - CNBC The company is releasing two new EVs this year Polestar 3 and Polestar 4 that are expected to hit their production strides in 2024. Polestar Automotive Holding UK PLC (PSNY) Earnings Report | Seeking Alpha Is PSNY a Buy? Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Design cues first seen on Polestars concept cars are brought to production in the fastest Polestar production car to date. The listing expense represents a non-recurring, non-cash, share-based listing charge, incurred in connection with the business combination with Gores Guggenheim, Inc (GGI). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Polestar has 125 locations and 934 service points across its markets, up 22 and 123 respectively, since the end of 2021. In 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales, and later in the year the first deliveries of Polestar 3.. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. See Appendix B for details and a reconciliation of adjusted metrics to the nearest GAAP measure. Polestar reports global volumes for the third quarter of 2022 and The Polestar 3 electric performance SUV is scheduled for its world premiere in October 2022 in Copenhagen. During the period, Polestar increased its global presence to 23 markets, up from 19 at the end of 2021, putting the company on track to meet its target of 30 markets in aggregate by the end of. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. The below table summarises key financial results for the quarter ended December 31, 2022. Polestar has produced two electric performance cars. We want to hear from you. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Vehicle price increases and active cost management will help mitigate some of the impact on gross profit. Polestar expects to publish its Q3 2022 financial results on November 11, 2022. Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, today reports its results for the nine months ended September 30, 2022. Press releases | Polestar Global market for premium luxury BEV/PHEV vehicles in which we operate is expected to grow +29% CAGR 2020-2025E. Polestar Automotive Holding A (PSNY) Earnings Dates & Reports Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. With no legacy, our focus is solely on the technologies of the future. According to a recent revenue report, EV automaker Polestar brought in over $1 billion in revenue in the first half of 2022. Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. Furthermore, in late August 2022, Polestar entered into an additional credit facility with one of those banks for approximately USD 145 million. All Rights Reserved. Bojana Flint 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. The company specializes in luxury vehicles. The below table summarises key financial results for the six months ended June 30, 2022 and June 30, 2021. For the avoidance of doubt, the preliminary unaudited operational and financial information published in this press release should not be considered a substitute for the financial information to be filed with the SEC in Polestars Annual Report on Form 20-F for the year ended December 31, 2022. Statement Regarding Preliminary Unaudited Financial and Operational Results. other contributed capital, Effect of foreign exchange rate changes on cash and Polestar stock jumps as earnings, production forecast delight investors Global Head of Communications & PR[emailprotected]. 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. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. They issued an "equal weight" rating and a $7.00 target price on the stock. 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. Trading on margin increases the financial risks. Polestar Automotive Holding Uk Limited - Class A Ads Earnings Dates, Upcoming and Historical PSNY last earnings on March 02, 2023 before the market opened (BMO). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Read more 1 2 3 4 Non-GAAP measure. As of April 24, 2023, the average one-year price target for Polestar Automotive Holding UK PLC - ADR is 6.46. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. Hertz initially offered Tesla and Polestar EVs, ordering 100,000 units from Tesla at the end of 2021 and 65,000 from Polestar. Free access to Real-time quotes, Financial news, Market data and investing analysis. PSNY Stock Soars After Polestar Reports Q3 Earnings . Morgan Stanley upgrades GM, says stock is oversold. . Preliminary Unaudited Condensed Consolidated Statement of Loss, (in thousands of U.S. dollars unless otherwise stated), Selling, general, and administrative Following the completion of the call, a replay will be available shortly athttps://investors.polestar.com/. Read our earnings report guide before you consider the forecast information when making investment decisions. 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. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post Hertz made plans to buy 175,000 EVs from GM in September 2022. Earnings reports almost always include EPS and Revenue results. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 350 kW / 476 hp and 680 Nm. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. 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 posts Q3 Earnings results, trimming operating loss by one New to earnings? These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. Items that may be subsequently reclassified to the Unaudited Condensed Consolidated Statement of Loss: Exchange rate differences from translation of foreign operations, Other non-current interest-bearing liabilities, Interest-bearing current liabilities - related parties, Adjustments to reconcile Net loss to net cash flows, Change in operating assets and liabilities, Trade receivables, prepaid expenses and other assets, Trade payables, accrued expenses and other liabilities, Additions to property, plant and equipment, Principal repayments of short-term borrowings, Principal repayments of lease liabilities, Proceeds from the issuance of share capital and other contributed capital, Effect of foreign exchange rate changes on cash and cash equivalents, 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, Cash and cash equivalents of USD 1,381.6 million as of June 30, 2022, up more than 80% since the end of 2021, following successful listing on Nasdaq stock exchange in New York. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The forecasts range from a . The Company also announced Polestar 3 with Luminar LiDAR is available to order, and an expanded partnership with Luminar to work on the integration of LiDAR in Polestar 5. The 2024 model year will feature a new high-tech front end that reflects the design language premiered by Polestar 3, substantial performance increases with all-new electric motors, even more powerful batteries, longer range, sustainability improvements and, for the first time in a Polestar, rear-wheel drive. We plan to launch three new models, one per year to 2024. Represents total volumes of new vehicles delivered, including external sales with recognition of revenue at time of delivery, external sales with repurchase commitments and internal sales of vehicles transferred for demonstration and commercial purposes as well as vehicles transferred to Polestar employees at time of registration. In late January, Polestar announced a major update to Polestar 2. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. What Is an Earnings Report? 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. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Entering text into the input field will update the search result below, Polestar Automotive Holding UK PLC (PSNY). When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. In August 2022, Polestar confirmed plans to put its electric roadster concept into production as Polestar 6, expected to launch in 2026. The revised post corrects the revenue figures from thousand to millions. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Polestar went public via a merger with a special purpose acquisition company in June. Head of Investor Relations[emailprotected], Tanya Ridd Find out with Premium for only $4.95 PSNY Polestar Automotive Holding UK PLC Earnings Date &. 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. Thursday's biggest analyst calls on Wall Street - CNBC Polestar (PSNY) - Earnings - CompaniesMarketCap.com Represents Polestar retail and handover locations, including Polestar Spaces, Polestar Destinations and Polestar Test Drive Centers. (together with its subsidiaries, Volvo Cars) and Zhejiang Geely Holding Group Co., Ltd (Geely), in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. We collaborate with kindred spirits on cool projects. The Actual EPS was $0.14, which beat the estimate of $0.00. As the company seeks to reduce its climate impact with everynewmodel, Polestar aims to produce a truly climate-neutral car by 2030. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Unaudited Condensed Consolidated Statement of Loss and Comprehensive Loss, (in thousands of U.S. dollars except per share data and unless otherwise stated), Consolidated Statement of Comprehensive Loss, Unaudited Condensed Consolidated Statement of Financial Position, (in thousands of U.S. dollars unless otherwise stated), Unaudited Condensed Consolidated Statement of Cash Flows, Polestar reports revenue of USD 1.0 billion, up 95%, for first half of 2022, Stay up to date on the latest investor news, Selling, general and administrative expenses, - including external vehicles with repurchase obligations. Research and development expenses decreased USD 8.1 million, or 8%, due to lower amortisation related to Polestar 1, partially offset by increased spend on future vehicles and battery electric technologies, including the Polestar Precept and the P10 powertrain. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030. 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. Polestar management will hold a live audio webcast today, November 11, 2022 at 08:00 EDT (14:00 CET) to discuss the Companys results and outlook. Data is a real-time snapshot *Data is delayed at least 15 minutes. Since. Polestar (PSNY) Stock Revs Up 20% After Doubling Revenue Accelerating the shift to sustainable mobility, This is not the time for incremental change, but radical innovation and we are not afraid to set ambitious goals., Our model line up will address the fastest growing segments of the premium market. Polestar increased its global presence from 10 to 19 markets in . Polestar Automotive Holding UK has a 1 year low of $3.14 and a 1 year high of $13.36. Morgan Stanley upgrades GM, says stock is oversold, merger with a special-purpose acquisition company. In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology.

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