XPEV Q1 2025 Earnings
Reported May 21, 2025 at 8:01 AM ET · SEC Source
Q1 25 EPS
$-0.10
BEAT +93.39%
Est. $-1.51
Q1 25 Revenue
$2.18B
MISS 86.11%
Est. $15.69B
vs S&P Since Q1 25
-51.6%
TRAILING MARKET
XPEV -28.0% vs S&P +23.6%
Market Reaction
Did XPEV Beat Earnings? Q1 2025 Results
XPeng delivered a sharply mixed first quarter for 2025, posting a dramatic earnings beat while falling well short of revenue expectations. The Chinese EV maker reported a loss of $0.10 per share, beating the consensus estimate of $-1.51 by 93.39%, ye… Read more XPeng delivered a sharply mixed first quarter for 2025, posting a dramatic earnings beat while falling well short of revenue expectations. The Chinese EV maker reported a loss of $0.10 per share, beating the consensus estimate of $-1.51 by 93.39%, yet revenue of $2.18 billion trailed the $15.69 billion consensus by 86.11% and declined 66.7% year-over-year. The standout driver behind the earnings outperformance was a meaningful expansion in profitability, with gross margin climbing to 15.6% from 12.9% a year earlier and vehicle margin reaching 10.5%, marking seven consecutive quarters of vehicle gross margin improvement, fueled by cost reductions and growing economies of scale. Net loss narrowed 51.5% year-over-year to $91.51 million, reflecting the company's improving cost structure even as it scaled aggressively, with record quarterly deliveries of 94,008 vehicles representing a 330.8% year-over-year surge. Looking ahead, XPeng guided Q2 deliveries of 102,000 to 108,000 vehicles and total revenues of $2.41 billion to $2.57 billion, signaling continued momentum into the second quarter.
Key Takeaways
- • Record quarterly deliveries of 94,008 vehicles, up 330.8% YoY
- • Vehicle margin improved to 10.5% from 5.5% YoY, marking seven consecutive quarters of improvement
- • Ongoing cost reduction and economies of scale driven by higher sales volume
- • Increased technical R&D services revenue from Volkswagen Group collaboration
- • Government subsidies of RMB0.54 billion, up 634.8% YoY
- • Gross margin expanded to 15.6% from 12.9% YoY
XPEV YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
XPEV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Despite seasonality for auto sales, our quarterly deliveries hit a new historical high, making us the top-selling automaker among emerging EV companies. Positive market feedback strengthened our confidence in our three-year product cycle. We remain committed to our steadfast long-term growth strategy and continue to launch more blockbuster products.”
— Xiaopeng He, Q1 2025 Earnings Press Release
XPEV Earnings Trends
XPEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
XPEV EPS Trend
Earnings per share: estimate vs actual
XPEV Revenue Trend
Quarterly revenue: estimate vs actual
XPEV Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | — | $0.08 | — | $3.18B | — |
| FY Full Year | — | $-0.07 | — | $10.97B | — |
| Q3 25 BEAT | $-0.47 | $-0.02 | +95.72% | $2.86B | -85.96% |
| Q2 25 BEAT | $-1.06 | $-0.07 | +93.41% | $2.55B | -85.77% |
| Q1 25 BEAT | $-1.51 | $-0.10 | +93.39% | $2.18B | -86.11% |