Polestar reports Q3 revenue $551M, consensus $634.04M

Q3 revenue decreased by $57.9M or 10% year-over-year mainly due to lower global vehicle sales of Polestar (PSNY) 2, higher discounts in a competitive market and a delay in sales ramp up of new carlines. Adjusted EBITDA of ($180.5M) increased by $71.8M reflecting continuous management actions reducing selling, administrative and general expenses in addition to positive margin impact of new car lines sales.