Xpeng beats top-line and bottom-line estimates; initiates Q3 outlook

Xpeng press release (NYSE:XPEV): Q2 Non-GAAP EPADS of -$0.06 beats by $0.09.
Revenue of $2.55B (+125.3% Y/Y) beats by $60M.
Quarterly gross margin was 17.3%, an increase of 3.3 percentage points over the same period of 2024
Quarterly vehicle margin was 14.3%, an increase of 7.9 percentage points over the same period of 2024.
Total deliveries of vehicles were 103,181 for the second quarter of 2025, representing an increase of 241.6% from 30,207 in the corresponding period of 2024.
- XPENG’s physical sales network had a total of 677 stores, covering 224 cities as of June 30, 2025.
- XPENG self-operated charging station network reached 2,348 stations, including 1,304 XPENG S4 and S5 ultra-fast charging stations as of June 30, 2025.
Deliveries in July 2025
- Total deliveries were 36,717 vehicles in July 2025.
- As of July 31, 2025, year-to-date total deliveries were 233,906 vehicles.
- Business Outlook
  
  For the third quarter of 2025, the Company expects:
  - Deliveries of vehicles to be between 113,000 and 118,000, representing a year-over-year increase of approximately 142.8% to 153.6%.
  - Total revenues to be between RMB19.6 billion and RMB21.0 billion, representing a year-over-year increase of approximately 94.0% to 107.9%.