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PSNY

Polestar Automotive Holding UK PLC

PSNY

Polestar Automotive Holding UK PLC • NASDAQ
$0.57 ▼ -0.86% (-0.00)
Market Cap $1.19 B
52w High $1.42
52w Low $0.50
Dividend Yield 0%
P/E -0.44
Volume 2.88M
Outstanding Shares 2.11B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $711.303M $557.997M $-596.539M -83.866% $-0.28 $-202.03M
Q1-2025 $711.303M ▲ $557.997M ▲ $-596.539M ▲ -83.866% ▲ $-0.28 ▲ $-202.03M ▲
Q4-2024 $564.224M $249.996M $-755.206M ▼ -133.849% ▼ $-0.36 ▼ $-654.739M ▼
Q3-2024 $564.224M ▼ $249.996M ▲ $-323.1M ▼ -57.264% ▼ $-0.15 ▼ $641.6M ▲
Q2-2024 $572.646M $236.342M $-266.986M -46.623% $-0.13 $-243.375M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $718.625M $3.643B $7.909B ▲ $-4.266B ▼
Q1-2025 $718.625M ▼ $3.643B ▼ $7.909B ▲ $-4.266B ▼
Q4-2024 $739.237M $4.054B $7.383B $-3.329B
Q3-2024 $739.237M ▲ $4.054B ▲ $7.383B ▲ $-3.329B ▼
Q2-2024 $668.911M $3.832B $5.654B $-1.821B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-596.539M $-248.826M $-160.838M $343.728M $0 $-292.842M
Q1-2025 $-596.539M ▲ $-248.826M ▲ $-160.838M ▼ $343.728M ▼ $0 $-292.842M ▲
Q4-2024 $-755.206M $-410.774M $-28.738M $489.536M $0 ▲ $-442.779M
Q3-2024 $-755.206M ▼ $-410.774M ▼ $-28.738M ▲ $489.536M ▲ $-668.911M ▼ $-442.779M ▼
Q2-2024 $-269.576M $62.956M $-166.295M $-22.689M $-115.11M $-122.48M

Five-Year Company Overview

Income Statement

Income Statement Polestar’s sales have grown rapidly from a very small base but have started to soften more recently, suggesting a tougher environment and possible timing issues around new model launches. The more worrying trend is profitability: gross margins have flipped from slightly positive to clearly negative, implying that each car sold is currently losing money once production and delivery costs are considered. Operating losses and net losses have widened over time rather than narrowing, which indicates that scale alone has not yet translated into better unit economics. Overall, the income statement looks like that of a company still deep in its build‑out phase, with high costs, pressured pricing, and no near‑term visibility to profitability based on the recent trend line.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown its asset base but has done so largely by taking on significantly more debt. Cash is present but not large relative to the size of ongoing losses and investment needs, so the current cash cushion does not look comfortable if recent burn rates persist. Shareholders’ equity has turned meaningfully negative, which is a clear sign that accumulated losses and leverage have started to weigh heavily on the company’s financial position. This structure increases dependence on supportive lenders, related parties, and capital markets to refinance or add funding over time.

Cash Flow

Cash Flow Polestar is consistently burning cash. Operating cash flow has been negative for several years and has become more deeply negative as the company scales, which means day‑to‑day operations are not self‑funding. Free cash flow is even more negative once investment in product and infrastructure is included, although capital spending is somewhat contained thanks to the asset‑light model. The company is therefore reliant on external financing to support both operations and growth, and the path to cash breakeven is not yet evident in the historical cash flow pattern.

Competitive Edge

Competitive Edge Polestar is trying to occupy a premium, design‑driven niche in the EV market, leaning on Scandinavian aesthetics, performance credentials, and a strong sustainability message. Its close ties with Volvo and Geely give it access to established engineering, safety know‑how, supply chains, and manufacturing, which is a meaningful advantage versus many standalone EV startups. The direct‑to‑consumer model and urban “Polestar Spaces” help maintain brand control and a curated customer experience. However, the company faces intense competition from global EV leaders and large legacy automakers that have broader model ranges, bigger marketing budgets, and more pricing power. Limited scale, ongoing pricing pressure in EVs, and reliance on partner manufacturing all temper the strength of Polestar’s competitive position.

Innovation and R&D

Innovation and R&D Innovation is a core part of Polestar’s pitch: it emphasizes clean design, advanced software, and sustainability‑linked engineering. Early adoption of Android Automotive, over‑the‑air updates, and a focus on user experience position the brand as tech‑forward. The roadmap includes higher‑voltage architectures for faster charging, collaborations on extreme fast‑charging batteries, and a proprietary aluminum platform for future performance models, all supported by a sizable patent portfolio. The ambitious “Polestar 0” climate‑neutral car initiative reinforces its sustainability leadership narrative. The challenge is that these innovation efforts are capital‑ and R&D‑intensive at a time when the company’s financial resources are stretched, so execution, prioritization, and access to funding will be critical.

Summary

Polestar is a young, brand‑driven EV maker with credible backing, a clear identity in design and sustainability, and a solid technology story. At the same time, the financial picture is that of a company still in a heavy investment and scale‑up phase: revenues are no longer climbing smoothly, margins have deteriorated sharply, losses remain substantial, and cash burn is significant. Rising debt and negative equity highlight growing balance‑sheet strain and a heightened need for ongoing external support. The long‑term opportunity rests on Polestar’s ability to scale volumes, improve production efficiency, strengthen pricing power, and convert its innovation pipeline into profitable models. Until those shifts appear clearly in the financials, the story remains one of high potential but also elevated execution, funding, and competitive risk.

NEWS

November 14, 2025 · 8:00 AM UTC

Polestar Announces Plan to Implement ADS Ratio Change From 1:1 to 1:30 Ordinary Shares

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November 12, 2025 · 7:00 AM UTC

Polestar reports 49% revenue growth in the first nine months of 2025

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October 31, 2025 · 4:15 PM UTC

Announcement of receipt of notice from Nasdaq regarding minimum bid price requirement

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October 9, 2025 · 7:00 AM UTC

Polestar Reports 36% Retail Sales Growth for the First Nine Months of 2025

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September 3, 2025 · 7:00 AM UTC

Polestar Reports Revenue Growth of 56% in the First Half of 2025

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