Overview
- Polestar reported a $383 million net loss on roughly flat revenue of $633 million, even as retail deliveries rose 7% to 13,126 vehicles.
- Gross margin fell to -3.2%, resulting in a $20 million gross loss that the company linked to price cuts, EU and U.S. tariffs, lower carbon‑credit sales, and one‑off items.
- Cash dropped to $676 million from $1.16 billion three months earlier, with a wider adjusted EBITDA loss of $235 million and working‑capital swings draining liquidity.
- To shore up finances, Polestar raised $700 million from financial institutions, began converting shareholder loans to equity with Volvo Cars and Geely, and renewed more than $1.4 billion in credit facilities.
- Management gave no financial outlook and said it is accelerating cost and manufacturing changes, while keeping plans for a new Polestar 4 later in 2026 and an all‑new Polestar 2 in 2027.