智通财经APP获悉，小牛电动(NIU.US)公布了2025年第一季度业绩。财报显示，小牛电动Q1营收为6.820亿元(人民币，下同)，同比增长35.1%;毛利率为17.3%，上年同期毛利率为18.9%;净亏损为3880万元，上年同期净亏损为5480万元;调整后的净亏损为3140万元，上年同期调整后的净亏损为4850万元。
Q1电动滑板车销量为203,313辆，同比增长57.4%。其中，中国市场电动滑板车销量为183,065辆，同比增长66.2%;海外市场电动滑板车销量为20,248辆，同比增长6.4%。
截至2025年3月31日，中国加盟店数量为4,119家，国际销售网络拥有57个经销商，覆盖53个国家。
展望未来，小牛电动预计2025年第二季度营收将在13.17亿元至14.11亿元之间，即同比增长40%至50%。
截至发稿，小牛电动周一美股盘前跌超2%。
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