PSNY

MKT CAP:$1B

Polestar Automotive Holding UK PLC

Market Cap

$1B

Consumer Cyclical·Auto - Manufacturers·🇸🇪 Sweden·NASDAQ

Consumer Cyc.·Auto·🇸🇪·NASDAQ

Stock Price

$18.02-$1.79 (-9.04%)

Apr 21, 2026

Company Details

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.

CEO

Michael Lohscheller

IPO Date

May 18, 2021

Website

www.polestar.com

Key Metrics TTM

Revenue

$2.3B

-17.6% YoY

Net Income

-$2.2B

EPS (Diluted)

-$31.50

Free Cash Flow

-$1.3B

Revenue / Share

$33.08

Gross Margin

-18.6%

Operating Margin

-85.8%

Net Margin

-95.3%

FCF Margin

-53.9%

P/S

0.5x

P/E

—

Earnings Reports

Q3 2025

May 8, 2026

PENDING

Q2 2025

Sep 3, 2025

$711MEPS -$8.40

Q1 2025

Mar 31, 2025

$711M+106.0%EPS -$8.40

FY 2024

May 9, 2025

$2.0BEPS -$29.10

Q4 2024

May 9, 2025

$564MEPS -$10.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$295M	$38M	-$115M
Q1 21	$267M	$18M	-$119.0K
Q2 21	$267M	$18M	-$643.6K
Q3 21	$213M	-$35M	-$293M
Q4 21	$590M	-$200.0K	-$337M
Q1 22	$452M	-$7M	-$258M
Q2 22	$589M	$61M	-$255M
Q3 22	$435M	$4M	-$196M
Q4 22	$985M	$62M	-$205M
Q1 23	$546M	$18M	-$199M
Q2 23	$685M	-$810.0K	-$274M
Q3 23	$613M	$4M	-$261M
Q1 24	$345M	-$31M	-$232M
Q4 24	$564M	-$424M	-$674M
Q1 25	$711M	$10M	-$548M
Q2 25	$711M	$10M	-$548M

Valuation

Quarter	P/S	P/E
Q3 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	1.2x	—
Q4 21	0.9x	—
Q1 22	0.8x	—
Q2 22	0.7x	—
Q3 22	0.6x	—
Q4 22	0.5x	—
Q1 23	0.5x	—
Q2 23	0.5x	—
Q3 23	0.4x	—
Q1 24	0.6x	—
Q4 24	0.6x	—
Q1 25	0.6x	—
Q2 25	0.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$36M	$12M
Q1 21	$430.0K	-$5M
Q2 21	-$3M	-$8M
Q3 21	-$42M	-$56M
Q4 21	-$157M	-$215M
Q1 22	$40M	-$254M
Q2 22	-$442M	-$660M
Q3 22	-$621M	-$760M
Q4 22	-$65M	-$128M
Q1 23	-$283M	-$416M
Q2 23	-$377M	-$527M
Q3 23	-$674M	-$736M
Q1 24	-$229M	-$229M
Q4 24	-$411M	-$443M
Q1 25	-$249M	-$293M
Q2 25	-$249M	-$293M

Capital Expenditures

Quarter	CapEx
Q3 20	$25M
Q1 21	$6M
Q2 21	$6M
Q3 21	$13M
Q4 21	$58M
Q1 22	$294M
Q2 22	$218M
Q3 22	$138M
Q4 22	$63M
Q1 23	$133M
Q2 23	$150M
Q3 23	$62M
Q1 24	$0
Q4 24	$32M
Q1 25	$44M
Q2 25	$44M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+99.8%	+125.7%
Q1 22	+69.1%	+165.5%
Q2 22	+120.3%	+214.9%
Q3 22	+104.5%	+24.9%
Q4 22	+67.1%	+28.4%
Q1 23	+20.7%	+5.0%
Q2 23	+16.3%	+13.7%
Q3 23	+40.8%	+38.4%
Q1 24	-64.9%	-51.5%
Q4 24	+3.3%	+66.2%
Q1 25	+3.8%	+31.2%
Q2 25	+16.0%	+44.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	-$7M	-3.1%
Q4 21	$62M	10.5%
Q1 22	$0	0.0%
Q2 22	$4M	0.7%
Q3 22	$3M	0.6%
Q4 22	-$2M	-0.2%
Q1 23	$1M	0.2%
Q2 23	$1M	0.2%
Q3 23	$984.0K	0.2%
Q1 24	$0	0.0%
Q4 24	$5M	0.9%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 20	$59M	—	$98M
Q1 21	$53M	$69.0K	—
Q2 21	$53M	$593.6K	—
Q3 21	$51M	$199M	—
Q4 21	$76M	$237M	—
Q1 22	$32M	$213M	—
Q2 22	$67M	$234M	—
Q3 22	$25M	$179M	—
Q4 22	$48M	$239M	—
Q1 23	$36M	$189M	—
Q2 23	$46M	$260M	—
Q3 23	$55M	$236M	—
Q1 24	$12M	—	$212M
Q4 24	$8M	—	$226M
Q1 25	$16M	—	$216M
Q2 25	$16M	—	$216M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$488.2K	$0	$488.2K
Q4 21	$757M	$1M	$758M
Q1 22	$350.2K	$0	$350.2K
Q2 22	$1.4B	$0	$1.4B
Q3 22	$988M	$0	$988M
Q4 22	$974M	$0	$974M
Q1 23	$884M	$0	$884M
Q2 23	$1.1B	$0	$1.1B
Q3 23	$951M	$0	$951M
Q4 23	$769M	$0	$769M
Q1 24	$784M	$0	$784M
Q2 24	$669M	$0	$669M
Q3 24	$739M	$0	$739M
Q4 24	$739M	$0	$739M
Q1 25	$719M	$0	$719M
Q2 25	$719M	$0	$719M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	31M	—	—
Q1 21	75M	+140.5%	—
Q2 21	75M	0.0%	—
Q3 21	71M	-6.5%	—
Q4 21	71M	0.0%	+124.9%
Q1 22	71M	0.0%	-6.5%
Q2 22	70M	-0.3%	-6.8%
Q3 22	70M	+0.0%	-0.3%
Q4 22	70M	-0.0%	-0.3%
Q1 23	70M	+0.0%	-0.3%
Q2 23	70M	+0.0%	+0.0%
Q3 23	70M	+0.0%	+0.0%
Q1 24	70M	+0.0%	+0.0%
Q4 24	70M	+0.0%	+0.0%
Q1 25	70M	+0.2%	+0.2%
Q2 25	70M	0.0%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	$453.1K	1K
Q3 22	$335.0K	1K
Q4 22	$414.5K	2K
Q1 23	$229.7K	2K
Q2 23	$288.3K	2K
Q3 23	$258.0K	2K
Q1 24	$137.3K	3K
Q4 24	$221.5K	3K
Q1 25	$279.3K	3K
Q2 25	$279.3K	3K

Revenue / Employee