New Delhi, May 20 -- Ola Electric Mobility Ltd missed its full-year revenue guidance for FY26 after sales nearly halved amid operational challenges and mounting competition in India's electric two-wheeler market, with the company's annual revenue falling below rival Ather Energy Ltd for the first time.

On Wednesday, the Bengaluru-based company posted a 50% year-on-year (y-o-y) decline in FY26 revenue at Rs.2,253 crore, well below its Rs.3,000-3,200 crore guidance issued in November. Ola Electric attributed the miss to an operational reset and higher investments in in-house cell manufacturing.

The company's scooter and bike sales fell 44% to 173,794 y-o-y in the financial year, even as losses narrowed to Rs.1,833 crore from Rs.2,276 cror...