Polestar Q1 2026: Revenue flat at $633M, net loss widens to $383M
Polestar reported Q1 2026 revenue of $633 million, flat year-over-year, but net loss widened to $383 million as gross margin turned negative.
$633M
$383M
13,126 units
What Happened
Polestar reported Q1 2026 revenue of $633 million, nearly flat compared to $632 million a year earlier. Net loss widened to $383 million from $166 million, and gross margin turned negative at -3.2% versus 10.3% in Q1 2025. CEO Michael Lohscheller noted the company is accelerating efforts to adjust its business model and improve manufacturing efficiencies due to challenging market conditions.
“The first quarter saw us deliver strong volume growth in a very competitive market. With implemented steps to improve our cost base being offset by more challenging market conditions, we are accelerating efforts to adjust our business model, become leaner and improve manufacturing efficiencies.”
- $633M vs $632M
- $383M vs $166M
- 13,126 vs 12,263 units
- Retail sales increased 7% to 13,126 units
- Sales points grew 44.7% to 230 globally
- Markets expanded to 28, up from 27
- Service points increased to 1,241
Why this matters
The results highlight the financial strain on Polestar as it scales production and expands retail network amid intense EV competition and cost pressures.
Terms in This Story
- Gross margin
- The percentage of revenue remaining after deducting the cost of goods sold; indicates profitability per vehicle.
- Adjusted EBITDA
- Earnings before interest, taxes, depreciation, and amortization, adjusted for unusual items; used to measure operating performance.
- non-GAAP
- Financial measures that do not follow standard accounting principles; provide alternative view of performance.
Summarised from the linked release; details can be imperfect — always verify against the original source.