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Polestar reported Q2 earnings that missed on revenues amid continual delivery challenges. Polestar also lowered its production guidance for FY 2026, seeing only as much as 5% Y/Y growth. PSNY's Q2'26 deliveries dropped 4% in the second-quarter, leading to a revenue decline on a year-over-year basis of 8.1%. The EV firm continued to see negative gross margins in its core EV manufacturing business as well as elevated free cash flow.
Polestar reported Q2 results with declining delivery volumes, 8% lower revenues, and continued large losses. PSNY faces ongoing cash burn, negative working capital exceeding $4.7 billion, and a weak balance sheet despite support from Geely and Volvo. A US sales ban from and tough competition have driven management to cut sales expectations and contributed to a bleak outlook.
Polestar's losses are slimming but its sales remain stagnant. Competition in electric cars remains fierce.
Polestar stock sank after the EV maker cut its volume-growth outlook as U.S. restrictions and weak EV demand add to its problems.
Polestar Automotive Holding UK PLC (PSNY) Q2 2026 Earnings Call Transcript
Polestar Automotive Holding UK NASDAQ: PSNY reported record first-half retail sales as it expanded its retailer-led sales model and increased contributions from its Polestar 4 model, though the electric-vehicle maker lowered its full-year volume outlook amid pricing pressure, regulatory challenges in the U.S. and broader market competition.
EV maker Polestar on Thursday cut its full-year delivery forecast, hurt by Washington's crackdown on Chinese-linked vehicles that forced it out of the United States.
GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) presents its consolidated financial results and operational metrics for the three-month and six-month periods ended June 30, 2026. Michael Lohscheller, Polestar CEO, said: “The operational improvements being implemented across the business are starting to show results. We cut our reported operating loss by 43% in the first half of 2026 versus last year, when a significant net impairment expense impacted our results. Working in a chall.