Polestar Automotive shares declined 8.3% after the electric vehicle manufacturer reported second-quarter revenue of $727 million, below the $864.7 million consensus estimate compiled by Bloomberg.
The company’s net loss narrowed to $459 million from $1.03 billion in the same period last year. Adjusted EBITDA losses, however, widened to $286 million from $206 million year-over-year, reflecting ongoing operational pressures despite cost-control measures.
Polestar ended the quarter with $888 million in cash as of June 30, 2026, while maintaining compliance with its $950 million Club Loan covenants. The company is engaged in constructive discussions with lenders regarding future obligations tied to the facility.
Management revised its 2026 volume guidance downward, now expecting sales growth in the low-to-mid single-digit percentage range this year. The prior target had anticipated double-digit expansion, signaling a more cautious outlook amid weaker-than-expected demand and competitive pricing pressures in the EV market.
Polestar emphasized its focus on delivering quality growth, though the revised guidance underscores challenges in scaling production while managing profitability amid a softer macroeconomic backdrop.
