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Sep 30, 2025
XPeng Q3 2025 Earnings Report
XPeng reported strong revenue growth and narrowed its losses in Q3 2025, driven by record deliveries and improved margins.
Key Takeaways
XPeng delivered over 116,000 vehicles and reached a record $2.86B in revenue, significantly reducing its net loss through better cost control and higher sales volume.
Total deliveries more than doubled year-over-year to 116,007 units.
Gross margin reached 20.1%, the highest in company history.
Net loss narrowed to $53.5M from $180.8M a year ago.
Strong growth in vehicle sales revenue, reaching $2.54B.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
XPeng projects higher deliveries and revenue in Q4 2025, supported by new models and its physical AI strategy.
Positive Outlook
- Expected deliveries between 125,000 and 132,000 vehicles.
- Projected revenue between $3.02B and $3.23B.
- Increased contribution from R&D services.
- Higher after-sales and service margin.
- Continued improvement in gross margin.
Challenges Ahead
- Net losses still expected despite revenue growth.
- Ongoing high R&D and SG&A expenses.
- Vehicle margin slightly declined from Q2.
- Dependence on achieving milestones in service contracts.
- Macroeconomic conditions may impact demand.
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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