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Sep 30, 2025
Li Auto Q3 2025 Earnings Report
Li Auto reported a net loss and declining revenue in Q3 2025 amid decreased deliveries and recall-related costs.
Key Takeaways
Li Auto faced significant headwinds in Q3 2025, reporting lower revenues and a net loss due to reduced deliveries and one-time costs from a major vehicle recall, though its BEV lineup gained momentum.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Li Auto expects deliveries between 100,000 and 110,000 and revenues between $3.7B and $4.1B in Q4 2025, amid continued market challenges.
Positive Outlook
- Orders for Li i6 and Li i8 exceeded 100,000 units
- Gross margin excluding recall costs reached 20.4%
- Expansion of BEV portfolio gaining momentum
- First overseas store launched in Uzbekistan
- Strong adoption of VLA Driver AI model
Challenges Ahead
- Expected Q4 deliveries down 30–37% YoY
- Q4 revenue guidance implies continued revenue drop
- Headwinds from Li MEGA recall still impacting margins
- Market competition remains intense
- Operating cash flow significantly negative
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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