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研究快讯:PSNY:营收远低于预期;现金消耗加速

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-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下:Polestar Automotive (PSNY)公布第一季度净亏损3.83亿美元,低于2025年第一季度的1.66亿美元。营收持平于6.33亿美元(比市场预期低1.16亿美元),原因是价格下跌抵消了总销量7%的增长(达到13,126辆),毛利率为-3.2%,较去年同期的10.3%大幅下降。尽管近期进行了股权和债转股,PSNY第一季度末的现金仍降至6.76亿美元,而2025年底的现金为11.59亿美元。该公司表示,其重点仍然是扩大零售网络,尤其是在欧洲,计划到年底在全球拥有250个销售点(高于季度末的230个)。管理层并未更新此前对2026年全球零售销量的预期,此前他们曾表示,2026年销量将较2025年的60,119辆(同比增长34%)实现两位数低段增长。鉴于PSNY近期为确保流动性而采取的多项措施以及其巨额现金消耗,我们认为该公司面临的风险依然很高。

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研究快讯:PSNY:营收远低于预期;现金消耗加速 | FINWIRES