Polestar today presents its unaudited financial results and operational metrics for the three-month and six-month periods ended 30 June 2025.
Michael Lohscheller, Polestar CEO, says: “Our operational performance in the first half of 2025 reaffirms that we are doing the right things, in a difficult market: increasing our commercial footprint, selling more cars and relentlessly focusing on cost and inventory management. Revenue growth was 56% and our Adjusted Gross Margin improved year-on-year. With an average of five new sales points opening per month in the second quarter, we are making it easier for more customers to experience and buy a Polestar. The launch of Polestar 5, our four-seat Grand Tourer, at IAA in September will strengthen our position as the leading performance EV brand.”
Key financial and operational highlights for H1 2025 (year-on-year comparison)
- Retail sales volumes up 51.1% driven by transition to an active selling model, retail network expansion, and an attractive model line-up
- Revenues up 56.5% to USD 1,423 million, driven by higher sales volumes
- Gross margin of (49.4)% impacted by non-cash impairment expense of USD 739 million booked in Q2
- Adjusted Gross Margin positive at 1.4% – an improvement of 4.0 ppts
- Selling, general and administrative expenses continue to be optimized
- Net loss of USD (1,193) million mainly driven by the impairment expense
- Adjusted EBITDA loss of USD (302) million, a reduction of 30.3%
- Cash position of USD 719 million as of 30 June 2025
- New equity of USD 200 million raised to complement facilities of approximately USD 2.1 billion secured or renewed through August 2025
- Future production site in Europe confirmed for Polestar 7
- Polestar 7 planned for launch in 2028
- Guidance: Target of compound annual retail sales volume growth of 30-35% in 2025-2027 reiterated
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SOURCE: Polestar
