Nio Inc.’s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a “transformational” 2020 topped $2 billion.
said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding one-time items, Nio lost $203.6 million, or 14 cents a share.
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Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.
Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.
Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.
For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.
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Fourth-quarter deliveries were a record for the company and concluded “a transformational 2020,” founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.
The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter’s deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.
Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 26% for the S&P 500 index