Jun 2026 (Q2 FY26) — Aug 24, 2026
XPeng Q2 FY26 — Robotics Financing & Strong Vehicle Deliveries
Read the full callXPeng (XPEV) earnings
- Jun 2026 (Q2 FY26)
- Dec 2025
XPeng earnings: last reported Mon, 24 Aug 2026, for the quarter ended Jun 2026.
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 22 open · verdicts reflect calls analysed to Mar 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly delivery guidance (Q1 FY26) | 61,000 to 66,000 units | Dec 2025 | In the first quarter, amid broad market volatility in China's domestic new energy vehicle market, we delivered a total of 62,680 vehicles. | Achieved |
| Full-year R&D expense (FY25) | around RMB 8.5 billion | Mar 2025 | we invested RMB 9.5 billion in R&D, including RMB 4.5 billion in AI. | Missed |
| Advanced ADAS autonomy quality approaching robotaxi-level driving | L3-like intelligent driving experience by Q4 FY25, targeting less than 1 takeover per 100 kilometers | Sep 2024 | By the end of the year, we target to increase the number of parameters on the edge from several billion to [ 20 billion ] level. This will increase average miles per takeover by 25x and the safety-critical miles per takeover by 50x. | Diluted |
1 of XPENG INC.'s 45 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 42 more targets are in the full ledger.
Claimed
- XPeng Robotics secured over USD 900 million in its first financing round, achieving a USD 6.2 billion post-money valuation and setting a new private financing record in China's humanoid robotics industry.
- Vehicle deliveries reached 103,295 units in Q2 FY26, marking a 65% quarter-over-quarter increase and outpacing broader industry growth.
- The company maintained a strong gross margin of 20.7% in Q2 FY26, despite industry-wide cost pressures.
- Overseas quarterly deliveries exceeded 20,000 units for the first time in Q2 FY26, representing an 81% year-over-year growth and contributing over 25% of total revenues.
- A major upgrade to VLA 2.0 (version 6.3.0) will increase parameters by 3.5x and perception sensitivity by 300%, aiming for L4 level autonomous driving capabilities.
Qualified
- Extreme weather and supply chain disruptions impacted the ramp-up and delivery pace of the MONA L03 model.
- Vehicle margin decreased to 12.1% in Q2 FY26 from 14.3% in the same period of 2025, primarily due to production generation transition.
- Net loss widened to RMB 1.34 billion in Q2 FY26, compared to a net loss of RMB 0.48 billion in the prior year period.
Price
$9.21 −0.22% · −$0.02
Performance −56.6% 1Y
1Y: $21.2 on 17 Oct 2025 → $9.21. High $28.07 (11 Nov 2025), low $9.21 (19 Oct 2026).
- Previous close
- $9.23
- 52-week range
- $9.21 – $28.07
- One year
- −57.08%
Overview
- Symbol
- XPEV
- Sector
- Consumer Discretionary
- Industry
- Motor Vehicles & Passenger Car Bodies
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 22 open · verdicts reflect calls analysed to Mar 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly delivery guidance (Q1 FY26) | 61,000 to 66,000 units | Dec 2025 | In the first quarter, amid broad market volatility in China's domestic new energy vehicle market, we delivered a total of 62,680 vehicles. | Achieved |
| Full-year R&D expense (FY25) | around RMB 8.5 billion | Mar 2025 | we invested RMB 9.5 billion in R&D, including RMB 4.5 billion in AI. | Missed |
| Advanced ADAS autonomy quality approaching robotaxi-level driving | L3-like intelligent driving experience by Q4 FY25, targeting less than 1 takeover per 100 kilometers | Sep 2024 | By the end of the year, we target to increase the number of parameters on the edge from several billion to [ 20 billion ] level. This will increase average miles per takeover by 25x and the safety-critical miles per takeover by 50x. | Diluted |
Claimed
- XPeng Robotics secured over USD 900 million in its first financing round, achieving a USD 6.2 billion post-money valuation and setting a new private financing record in China's humanoid robotics industry.
- Vehicle deliveries reached 103,295 units in Q2 FY26, marking a 65% quarter-over-quarter increase and outpacing broader industry growth.
- The company maintained a strong gross margin of 20.7% in Q2 FY26, despite industry-wide cost pressures.
- Overseas quarterly deliveries exceeded 20,000 units for the first time in Q2 FY26, representing an 81% year-over-year growth and contributing over 25% of total revenues.
- A major upgrade to VLA 2.0 (version 6.3.0) will increase parameters by 3.5x and perception sensitivity by 300%, aiming for L4 level autonomous driving capabilities.
Qualified
- Extreme weather and supply chain disruptions impacted the ramp-up and delivery pace of the MONA L03 model.
- Vehicle margin decreased to 12.1% in Q2 FY26 from 14.3% in the same period of 2025, primarily due to production generation transition.
- Net loss widened to RMB 1.34 billion in Q2 FY26, compared to a net loss of RMB 0.48 billion in the prior year period.
The full ledger
Open XPENG INC.’s full ledger
A free account opens 5 company ledgers a month. All 45 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 28, 2026
XPeng Q1 FY26 — Rebrand to physical AI group; GX launch and record international mix offset seasonal delivery trough
Read the full callDec 2025 (Q4 FY25) — Mar 20, 2026
XPeng Q4 FY25 — First Quarterly Profit Driven by Physical AI and Global Expansion
Read the full callEvery analysed call
XPeng earnings calls (XPEV)
Financials
What the filings say
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | — | -980 | -1,735 | -2,549 | -3,672 | -5,033 | -5,697 | -6,109 |
| Total liabilities | — | 918 | 1,575 | 3,700 | 5,012 | 6,733 | 7,046 | 10,398 |
| Fixed assets | — | 464 | 472 | 854 | 1,537 | 1,542 | 1,578 | 1,932 |
| Investments | — | 59 | 432 | 446 | 183 | 110 | 103 | 460 |
| Total assets | — | 1,329 | 6,852 | 10,335 | 10,363 | 11,846 | 11,331 | 14,736 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -229 | -512 | -21 | -172 | -1,193 | 135 | -276 | 1,180 |
| Cash from investing | -528 | 106 | -675 | -5,207 | 702 | 89 | -172 | -1,048 |
| Cash from financing | 979 | 516 | 5,261 | 2,303 | 870 | 1,128 | 92 | 74 |
| Net cash flow | 220 | 112 | 4,465 | -3,134 | 446 | 1,350 | -351 | 237 |
| Capital expenditure | -112 | -263 | -124 | -362 | -620 | -295 | -305 | -451 |
| Free cash flow | -341 | -775 | -145 | -534 | -1,813 | -160 | -581 | 729 |
XPEV operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Vehicle deliveries | 62.68KIn the first quarter, amid broad market volatility in China's domestic new energy vehicle market, we delivered a total of 62,680 vehicles.Source: earnings call transcript | 103.295KIn the second quarter, our vehicle deliveries reached 103,295 units, up 65% quarter-over-quarter, and we achieved a year-over-year growth ahead of the broader industry.Source: earnings call transcript | +64.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
4 filings between Apr 1, 2026 and Oct 2, 2026.
Open market
decisions to buy or sellNobody bought or sold XPEV on the open market in this window. The filings below are 4 option exercises.
Compensation
not trading decisions- 4
- Option exercise — converted options into shares
Latest filings (4)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Gu Brian Hongdi Vice Chairman & Co-President | Option exercise | 250,000 | $0 |
| Jul 14, 2026 | Yang Donghao Director | Option exercise | 9,072 | $0 |
| Jul 2, 2026 | Wu Jiaming VP Finance & Accounting | Option exercise | 43,558 | $0 |
| Apr 1, 2026 | Wang Fengying President | Option exercise | 600,000 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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