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Jun 30, 2025
Li Auto Q2 2025 Earnings Report
Li Auto reported stable revenues and profitability in Q2 2025 despite a slight year-over-year decline in vehicle sales revenue.
Key Takeaways
Li Auto delivered 111,074 vehicles in Q2 2025, achieving $4.2 billion in revenue and maintaining healthy margins. Net income remained flat year-over-year at $153.1 million, while operating income rose significantly quarter-over-quarter. The company also launched its new BEV model, the Li i8, during the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Li Auto expects Q3 2025 revenue between $3.5B and $3.7B and vehicle deliveries between 90,000 and 95,000, citing a softer demand outlook and ongoing product transitions.
Positive Outlook
- Launch of Li i8, a new six-seat battery electric SUV
- Expansion of charging infrastructure to over 3,000 stations
- Ongoing investment in R&D for BEV and intelligent driving tech
- Healthy gross margin guidance maintained
- Strong balance sheet to support innovation-driven growth
Challenges Ahead
- Revenue guidance indicates 38.8%-42.1% YoY decline
- Vehicle deliveries forecasted to drop over 37% YoY
- Increased cash usage in operations
- Free cash flow remained negative
- Potential challenges with product mix and market conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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