Einride revenue rises 26% as Tesla Semi deal triples fleet

Einride AB reported first-half revenue of $27 million, up 26% year-over-year on a constant currency basis, its first release since the June Nasdaq listing.

"We continued to deliver on our plan with disciplined execution across every part of the business, from growing recurring revenue to strengthening our technology platform through investments in Saga AI, charging and autonomous technology," Chief Executive Officer Roozbeh Charli said.

Revenue reached SEK 263.5 million in the six months ended June 30, up from SEK 216.5 million a year earlier. Net loss widened to SEK 1.12 billion from SEK 887 million, driven by non-cash charges of SEK 881 million tied to the business combination and listing, including a SEK 636 million recapitalization expense and a SEK 245 million share-based compensation charge. Adjusted EBITDA loss widened to SEK 363 million from SEK 214 million. Consensus estimates were not disclosed.

Management expects second-half constant currency revenue growth to more than double to 60-73% year-over-year, fueled by the Amazon ramp and other deployments in the U.S. and Europe. The company's cash position stood at SEK 748 million ($77 million) as of June 30.

After the period, Einride announced a partnership with Tesla to deploy 500 Tesla Semi trucks on its Saga AI platform across North America, tripling its deployed electric fleet from about 250 to 750 vehicles. The rollout begins in September 2026 over 24 months, financed through third-party solutions. Einride also expanded its Amazon relationship with 75 electric heavy-duty trucks across five U.S. locations and partnered with DAF, a PACCAR company, to accelerate autonomous electric freight.

Driverless hours in contracted customer operations rose 64% to more than 5,400 hours as of June 30, supported by six autonomous deployments across the U.S. and Europe. Saga AI has powered more than 19 million electric miles and 42,000 optimization sessions globally.

The Tesla deployment is a step toward converting approximately $800 million in potential long-term annual recurring revenue under joint business plans with shippers into active, revenue-generating freight capacity. Einride targets a fleet of 1,500-2,000 trucks in operation by 2028 to reach cash flow breakeven.

Shares rose more than 27% in premarket trading following the announcement. The company's American depositary shares and warrants began trading on the Nasdaq Global Market and Nasdaq Capital Market under tickers ENRD and ENRDW on June 10.

The guidance raise points to accelerating electric freight demand as fleet capacity triples. Investors will watch the H2 earnings call for progress on converting the $800 million potential ARR into contracted revenue.

This article is for informational purposes only and does not constitute investment advice.