Company: PLSAY
Filing Date: 2025-07-01
Form Type: 6-K/A
Source: 0001884082-25-000014
Chunk: 14

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-07-01
Form: 6-K/A
Chunk 14
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 the six months ended June 30, 2024 was a gross loss of $23.3 million, a decrease of $44.9 million, or 208% compared to a gross profit of $21.6 million for the six months ended June 30, 2023. This decrease is attributed to lower net revenue of $327.1 million primarily due to lower volumes of Polestar 2 sales and greater dealer discounts. Refer to the explanation of the Revenue variances above for greater details. These negative impacts were partially offset by a $199.5 million reduction in material cost and a $88.7 million reversal of previous inventory impairments for vehicles sold.

#### Selling, general, and administrative expense
Selling, general, and administrative expense for the six months ended June 30, 2024 was $450.5 million, a decrease of $24.1 million, or 5% compared to $474.6 million for the six months ended June 30, 2023. This activity is primarily due to a decrease in media activities expense of $22.2 million.

#### Research and development expense
Research and development expense for the six months ended June 30, 2024 was $24.3 million, a decrease of $58.8 million, or 71%, from $83.1 million for the six months ended June 30, 2023. This change was primarily driven by a decrease in the amortization costs as Polestar 2 intellectual property began capitalization into inventory during the fourth quarter of the year ended December 31, 2023. Until then, the Polestar 2 intellectual property was amortized into Research and development expense. Additionally, Polestar 6 reached the capitalization phase during the second half of the year ended December 31, 2023, and therefore costs related to the development of the Polestar 6 are no longer recognized in Research and development expense.

#### Other operating income, net
Other operating income, net for the six months ended June 30, 2024 was an income of $21.9 million, a decrease of $16.7 million, or 43% compared to an income of $38.6 million for the six months ended June 30, 2023. This decrease is primarily driven by higher negative foreign exchange effects on working capital comprised of realized and unrealized gains on foreign currency transactions of $40.6 million. Additional decreases were attributed to increased other operating expenses of $5.8