Electric scooter maker Niu Technologies (NASDAQ: NIU) on Monday said its net loss narrowed year-over-year in the first quarter of 2025, aided by a 35% growth in revenues.
- Revenues totaled RMB682.0 million (US$94 million) in the first three months of FY25, an increase of 35.1% year over year
- The top-line growth was mainly driven by a 57.4% increase in sales volume, partially offset by a 14.2% decrease in revenues per e-scooter
- The company reported a net loss of RMB38.8 million (US$5.35 million) for Q1, compared to a loss of RMB54.8 million a year earlier
- Q1 loss narrowed to RMB0.49 per ADS (US$0.07 per ADS) from RMB0.69 per ADS in the year-ago quarter
- Adjusted net loss was RMB 31.4 million, vs. a loss of RMB 48.5 million in the comparable period of the previous year
- The company recorded a gross margin of 17.3% in the March quarter, compared to 18.9% in the first quarter of 2024
- Niu sold a total of 203,313 e-scooters in the first quarter, up 57.4% year over year; sales in China surged 66.2% YoY
- The number of e-scooters sold in the international markets was 20,248, up 6.4% year over year
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