Qudian delivered a profitable Q3 2025 with $57.6M in net income, largely supported by investment and derivative gains, as core revenues dropped due to the winding down of the last-mile delivery business.

Qudian saw revenue decline to just $0.5 million in Q2 2025 due to the wind-down of its last-mile delivery business. However, thanks to substantial investment income and gains on derivatives, net income rose to $43.5 million.

Qudian reported a net income of $20.7M in Q1 2025, reversing a loss from the same quarter last year. The company's revenue fell sharply due to competition in its last-mile delivery segment, but gains from investments and derivatives offset the decline.