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. 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. The company issued strong fourth-quarter earnings, reporting a narrower loss than expected and revenue that jumped 84% from a year ago. Free cash flow is calculated by subtracting cash flows used for tangible assets and intangible assets from cash used for operating activities. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. Polestar expects the effects from product and market mix to continue alongside foreign exchange and input cost inflation. Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period on period comparisons. 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. Polestar Automotive Holding UK (PSNY) Earnings Date & Reports 523 Followers Earnings Data Report Date Nov 10, 2023 Not Confirmed Period Ending 2023 (Q3) Consensus EPS Forecast Last Year's EPS -$0.14 Same Quarter Last Year Analyst Consensus Hold Based on 2 Analysts Ratings Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History Free access to Real-time quotes, Financial news, Market data and investing analysis. In August 2022, Polestar confirmed plans to put its electric roadster concept into production as Polestar 6, expected to launch in 2026. The upcoming GM earnings report should . The revised post corrects the revenue figures from thousand to millions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In February, Polestar signed up eight additional sustainability partners to the ambitious Polestar 0 project to create a truly climate-neutral car by 2030 bringing the total to 24, as well as initiated a collaboration with Rivian on the Pathway Report in response to the climate crisis. 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's third-quarter operating loss was significantly narrower than a year ago, and its revenue more than doubled. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Sign up for free newsletters and get more CNBC delivered to your inbox. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. That's nearly 100% growth compared to the first half of 2021,. Transferred vehicles for demonstration and commercial purposes are owned by Polestar and included in Inventory. 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 company is releasing two new EVs this year Polestar 3 and Polestar 4 that are expected to hit their production strides in 2024. Open this in the Investing.com app to get the full experience. Type a symbol or company name. 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. Thomas Ingenlath, Polestar CEO, comments: We made important progress in the first half of 2022 as we doubled revenues and volume, and successfully listed on the Nasdaq stock exchange in New York. Polestar went public via a merger with a special purpose acquisition company in June. PSNY Analysts Price Targets Currently no data available. 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. Polestar defines adjusted operating loss as operating loss, adjusted to exclude listing expense. Polestar expects to post its financial and operational results for the third quarter of 2022 on Friday, November 11, 2022, before market opening in the USA. Polestar increased its global presence from 10 to 19 markets in . Head of Investor Relations[emailprotected], Tanya Ridd on June 23, 2022. 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. Earnings reports . In late January, Polestar announced a major update to Polestar 2. The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. This was corrected on 11/11/2022 at 8:13 AM. The forecasts range from a . Recent developments design, innovation, sustainability. 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. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. 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. We plan to launch three new models, one per year to 2024. 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. Polestar plans to release three more electric performance vehicles through to 2026. The company specializes in luxury vehicles. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. 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 listing expense represents a non-recurring, non-cash, share-based listing charge, incurred in connection with the business combination with Gores Guggenheim, Inc (GGI). 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. The forecasts range from a low of 5.05 to a high of $7.35. Earnings reports almost always include EPS and Revenue results. Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (Polestar) is a Swedish premium electric vehicle manufacturer. 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. Polestar releases fourth quarter and full year 2022 financial results Total revenue of USD 2.5 billionin 2022, an increase of 84% year on year 51,491 cars delivered in 2022, compared to 28,677 in 2021, an increase of 80% Cash and cash equivalents of USD 974 millionas of December 31, 2022 GOTHENBURG, SWEDEN - 2 March 2023. Global volumes increased to 21,185 cars in the first six months of 2022, more than doubling deliveries from 9,510 cars in the same period in 2021, an increase of 123%. The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. Data Provider:Zacks Investment Research. 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 Automotive Holding Uk Plc A (PSNY). Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. 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. reserve, Other non-current provisions and liabilities, Other non-current interest-bearing liabilities, Trade payables external and trade payables and Polestar 4, a smaller electric performance SUV coupe,is expected to follow in 2023. All 500 build slots of Polestar 6 LA Concept edition were reserved online within a week of the production announcement. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. 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. Variances for Q4 2022 versus Q4 2021 largely followed the trends outlined for 2022 versus 2021, with the following notable exceptions: The below table summarises cash flow for the year ended December 31, 2022. Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. Those numbers imply deliveries of about 19,600 vehicles in the fourth quarter, producing about $924 million in revenue and those vehicles are already built and in transit to customers now, he said. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026. Global Head of Communications & PR[emailprotected]. Design cues first seen on Polestars concept cars are brought to production in the fastest Polestar production car to date. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. That's enough to fund the company through 2023, Malmqvist said. 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 The Actual EPS was $0.14, which beat the estimate of $0.00. 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.

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