Polestar Automotive (NASDAQ:PSNY) shares fell 8.3% after the electric vehicle manufacturer reported second-quarter revenue below analyst expectations and lowered its 2026 volume growth guidance.
Revenue for the quarter was $727 million, compared with the Bloomberg Consensus estimate of $864.7 million.
The company’s net loss narrowed to $459 million from $1.03 billion in the same period a year earlier.
Adjusted EBITDA Loss Widens
Polestar reported an adjusted EBITDA loss of $286 million for the second quarter, compared with a loss of $206 million in the corresponding period last year.
The company had $888 million in cash as of June 30, 2026.
Polestar Lowers 2026 Volume Guidance
Polestar revised its 2026 volume outlook and now expects volumes to increase by a low-to-mid single-digit percentage during the year.
The company had previously forecast double-digit volume growth and said it remains focused on delivering quality growth.
Company Reports Compliance With Loan Covenants
Polestar said it was in compliance with its financial covenants as of June 30, 2026.
The company also said it continues to hold a constructive dialogue with lenders under its $950 million Club Loan regarding future obligations. Polestar confirmed that it was in compliance with the Club Loan covenants at the end of the second quarter.