Polestar sees retail gains despite 4% revenue decline to $1.36 billion

• Polestar (NASDAQ:PSNY) reported first half 2026 revenue of $1.36 billion, down 4% year over year, while retail sales volumes increased.
• The company reported an operating loss of $629 million and raised $700 million through new equity from external investors.
• Polestar updated 2026 volume guidance to low-to-mid single-digit growth and plans four new vehicles over three years.

Polestar Automotive Holding (NASDAQ:PSNY) reported consolidated financial results for the six months ended June 30, 2026, with revenue of $1.36 billion, down 4% year over year, while retail sales volumes increased compared with the same period.

The revenue decline reflected lower pricing, residual value guarantee costs mainly in the U.S., restructuring measures following a decision by the U.S. Department of Commerce’s Bureau of Industry and Security, and lower carbon credit sales.

Polestar reported that its gross margin improved to negative 8% from negative 49% in the prior-year period, which included net impairment expenses recognized in the first half of 2025.

The company reported an operating loss of $629 million and a net loss of $842 million, improving 43% and 29% year over year respectively, while adjusted EBITDA loss was $521 million due to higher adjusted gross losses and foreign exchange impacts.

Polestar raised $700 million from external investors, completed approximately $640 million of debt-to-equity conversions involving loans from Geely Sweden and Volvo Cars, and extended the maturity of Volvo Cars’ remaining $660 million shareholder loan from December 2028 to December 2031.

The company stated that it plans its largest model expansion to date, with four new vehicles planned over three years starting with Polestar 5 in 2026, and announced sales expansion into the Baltic region.