Core Insights - Legacy automakers are transitioning from reliance on vehicle sales to developing software and subscription ecosystems, which provide higher-margin, recurring revenue streams [1] General Motors - General Motors is building a software and subscription ecosystem centered around OnStar, which reached a record 12 million subscribers, including over 120,000 Super Cruise subscribers, reflecting approximately 80% year-over-year growth [2][3] - OnStar generates subscription-based revenues, creating more stable cash flow, with management expecting software and services revenues to increase by about $400 million this year and deferred revenues projected to reach $7.5 billion, up roughly 40% year-over-year [3] - GM plans to expand its Super Cruise system and introduce a second-generation software-defined vehicle architecture in 2028, which will enhance over-the-air capabilities and support advanced driving features [4][5] Ford - Ford is focusing on commercial customers through its Ford Pro unit, offering tools and services that enhance fleet operations [6] - Paid software subscriptions grew by 30% in 2025, with total paid subscriptions surpassing 1.3 million, up 53% year-over-year [7] - Software and physical services now account for 19% of Ford Pro's EBIT, with high-margin software gross margins above 50%, indicating potential for significant growth [8][9] Tesla - Tesla's software strategy emphasizes Full Self-Driving (FSD) with a shift to subscription-based monetization, as monthly subscriptions to FSD more than doubled in 2025 [12][15] - The transition to subscription-only for FSD aligns with Tesla's long-term financial goals, providing steady cash flow compared to one-time purchases [13] - Tesla aims to reach 10 million active FSD subscriptions over the next decade, with significant incentives tied to this metric for CEO Elon Musk [14]

Core Insights - Lucid Group reported a fourth-quarter 2025 loss per share of $3.62, which is wider than the Zacks Consensus Estimate of $2.49 and the loss of $2.20 in the same quarter of 2024, primarily due to increased costs totaling $1.58 billion, up from $967 million year-over-year [1][10] - Despite the loss, fourth-quarter 2025 revenues reached $522.7 million, exceeding the Zacks Consensus Estimate by 13.27% and more than doubling from the fourth quarter of 2024, with full-year revenues increasing by 67% to $1.35 billion [2] Financial Performance - The company's production doubled in 2025, with deliveries growing 55% to 15,841 units, while its closest competitor, Rivian Automotive, saw a decline in deliveries by 18% [2] - Lucid has guided production for 2026 at 25,000-27,000 units, representing a year-over-year increase of 40-50%, with the Gravity SUV expected to be a significant contributor [4] - Gross margin improved by approximately 18 basis points sequentially in Q4 2025, but remains below long-term targets, with management expecting continued improvement in 2026 [5] Cost Management and Industry Challenges - To enhance margins, Lucid announced a plan to cut 12% of its U.S. workforce, aiming for $500 million in cost savings over three years [6] - The company faces broader industry challenges, including the withdrawal of U.S. federal EV tax credits, pricing uncertainty, tariffs, and supply chain disruptions [7][8] Cash Flow and Investment - Lucid ended 2025 with approximately $4.6 billion in liquidity, which is expected to last into the first half of 2027, but free cash flow was negative $3.8 billion, worsening from negative $2.9 billion the previous year [9][11] - Capital expenditures for 2026 are projected at $1.2-$1.4 billion, up from $868 million in 2025, indicating continued heavy investment in R&D and other initiatives [11] Strategic Initiatives - Lucid is pursuing opportunities in the autonomous ride-hailing market through partnerships with Uber and Nuro, planning to deploy at least 20,000 vehicles over time [12][13] - Initial on-road testing for the autonomous vehicles began in Q4 2025, with commercial rollout expected later this year, targeting Level 3 autonomy by 2028 and Level 4 by 2029 [13] Market Position and Valuation - Over the past six months, Lucid's shares have underperformed compared to the industry, while Rivian's shares have gained 15% [14] - Lucid carries a Value Score of F, trading at a forward sales multiple of 1.26, significantly below the industry's 3.34, reflecting operational and financial challenges [15] - The Zacks Consensus Estimate for Lucid's 2026 loss per share has widened to $9.04 [17]

Aspen Aerogels (NYSE:ASPN) Q4 2025 Earnings call February 25, 2026 08:30 AM ET Company ParticipantsDonald Young - President and CEOGrant Thoele - Chief Financial Officer and TreasurerNeal Baranosky - Senior Director, Head of Investor Relations and Corporate StrategyConference Call ParticipantsChip Moore - Managing Director and Senior Research AnalystColin Rusch - Managing Director, Senior Research Analyst, and Head of Sustainable Growth and Resource Optimization ResearchEric Stine - Senior Research AnalystG ...

公开履历显示，李斌是易车网的创办者，于2000年创立该汽车资讯平台。此后在2018年，他正式卸任易 车CEO一职，将个人的业务重心全面转向蔚来汽车。 随着高额索赔判决结果的公布，网络上开始流传该涉诉账号的实际控制人为蔚来创始人李斌的传言。对 此，有知情人透露，涉案账号背后由北京易车信息科技有限公司全资控股，而李斌早在2020年就已将所 持相关股份全部转让。该人士解释称，外界目前看到的股权关联信息，主要是由于VIE（可变利益实 体）架构下的工商变更信息未能及时同步更新所致，目前易车的实际控制人早已不是李斌。 凤凰网科技讯 2月25日，针对自媒体"AutoReport 汽车产经"侵权案的一审结果，业内一度传出该账号实 际控制人为蔚来创始人李斌的说法。对此，有知情人士向媒体澄清，李斌已于2020年转让了相关股份， 与涉事主体并无关联。 昨日下午，小米公司方面披露了针对"AutoReport 汽车产经"侵权案的一审胜诉结果。根据法院判决，被 告方须履行删除侵权内容并公开致歉的义务，同时需向小米公司支付高达500万元的赔偿金。公开检索 信息显示，该败诉账号的认证主体为北京易车互动广告有限公司。 ...

While the stock is very expensive, I'm a big fan of Tesla as a business. Why? Because it has a dominant advantage when it comes to investing in artificial intelligence (AI). Autonomous driving technology, at least as far as consumers are concerned, hasn't lived up to the hype thus far. But according to numerous experts, artificial intelligence is rapidly supercharging self-driving technologies. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, ...

3:14 PM EST Live Updates Little Rivian Movement During Conference Call Feb 12, 2026 at 5:52 PM EST The Rivian call is still…]## Top Gaining Stocks[Keysight Technologies][KEYS]• Vol: 6,148,125+$56.48+23.05%$301.48[AMD][AMD]• Vol: 81,363,587+$17.24+8.77%$213.84[PayPal] [PYPL]• Vol: 58,555,315+$2.97+6.74%$47.02[Constellation Energy][CEG]• Vol: 4,651,587+$18.84+6.41%$312.64[FactSet Research Systems][FDS]• Vol: 1,477,593+$11.23+5.90%$201.49## Top Losing Stocks[Expeditors International of Washington][EXPD]• Vol: ...

来源：朝阳永续 1. 蔚来-SW第四季度业绩预期怎么样？ 截至2026年02月25日，根据朝阳永续季度业绩前瞻数据： 预测营业收入333.63~371.21亿元，同比增长69.3%~88.4%；预测净利润-12.20~21.03亿元，同比增长 82.9%~129.5%；预测经调整净利润2.10亿元，同比变动103.2%。 关注后续财报数据披露后能否超预期，朝阳永续港股季度业绩前瞻数据将为投资者提供业绩鉴定。 | The F I the Jen . Well Vanted | | --- | | 数据来源:朝阳水续盈利预测数据库 | | 15 . 14 12 . 10 . 1 . | 3) 世界模型NWM发布：公司发布世界模型NWM，将为搭载NX9031及NVIDIA Orin X芯片的车型分批 推送NWM升级，提升城市/高速NOP+、泊车及智能安全性能。 4) 自研芯片外供：公司自研的神玑NX9031芯片不仅自用，还通过合资公司向其他车企或非汽车行业客 户推广芯片，保留与其他伙伴在芯片上的合作可能性。 海通国际证券认为：蔚来-SW在3Q25实现营收217.9亿元，同比增长17%，环比增长15%，汽车销售收入 ...

The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks poised to add to the strong gains posted in the previous session.The may continue to benefit from strength in the tech sector amid optimism ahead of the release of earnings news from AI chipmaker and market leader Nvidia (NVDA).Nvidia, which is due to release its fourth quarter financial results after the close of today's trading, is climbing by 0.8 percent in pre-market trading.Software giants Salesforce (CRM) a ...

Core Insights - The luxury automotive market is experiencing significant challenges due to geopolitical uncertainty and macroeconomic pressures, impacting planning and forecasting for companies like Aston Martin [3][4] - Aston Martin's product strategy focuses on a recovery plan driven by new derivatives and the launch of the Valhalla plug-in hybrid supercar, with production and deliveries starting in late 2025 [2][4] Financial Performance - For the full year 2025, Aston Martin reported a 21% decline in revenue to £1.26 billion, attributed to lower wholesale volumes and fewer special model deliveries [8][10] - Wholesale volumes decreased by 10% year-over-year to 5,448 units, while retail volumes outpaced wholesales as the company managed channel inventory [7][8] - Adjusted EBIT fell to a loss of £189 million, influenced by lower special volumes, increased warranty costs, and dealer support to reduce aged stock [9][10] Production and Deliveries - The company produced and wholesaled the first 152 units of the Valhalla in 2025, with expectations to deliver around 500 units in 2026, although production is constrained by vehicle complexity and supply limitations [1][6] - Management indicated that the 2026 Valhalla build and shipment rate is closely tied to production capacities, with output expected to be around "plus or minus a car a week" [6][14] Strategic Initiatives - Aston Martin is implementing measures to invest in quality, reduce operating costs, and enhance capital expenditure efficiencies to support improved delivery in future years [2][4] - The company has reduced its five-year capital expenditure plan from approximately £2.0 billion to £1.7 billion, focusing on extending existing core model lines [5][13] Liquidity and Balance Sheet - Year-end liquidity stood at £250 million, bolstered by improved cash collections and a £52.5 million investment from Lawrence Stroll's consortium [5][11] - Net debt increased to £1.38 billion, with adjusted net leverage rising to 12.8x, although management expects this to improve as performance enhances [12] Future Outlook - Management anticipates a "material improvement" in 2026 financial performance, driven by an enhanced product mix and a smoother production cadence from Q2 onward [14][15] - The company aims to normalize inventory levels by the end of Q1 2026, with a balanced stock profile expected in major markets [15][16] - Aston Martin plans to gradually incorporate hybrid technology into its offerings, with all-electric drivetrains expected to be added incrementally over the next decade [17]

February 25, 2026 ASPEN AEROGELS Operational momentum supported by a strengthened balance sheet Q4 & FY 2025 FINANCIAL RESULTS CALL Disclaimer on Forward Looking Statements This presentation and any related discussion contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forwa ...