Quarterly ResultMay 28, 2026, 09:17 AM
XPENG Q1 Revenue RMB13.03B, Net Loss RMB1.78B; Margins Improve
AI Summary
XPENG reported its first quarter 2026 unaudited financial results, with total revenues decreasing 17.6% year-over-year to RMB13.03 billion and a net loss of RMB1.78 billion. Despite lower vehicle deliveries, the company achieved significant year-over-year improvements in both gross margin (20.6%) and vehicle margin (12.1%). XPENG launched its new GX tech flagship SUV in May 2026 and provided an optimistic outlook for Q2 2026, projecting substantial quarter-over-quarter increases in both deliveries and revenues.
Key Highlights
- Total revenues were RMB13.03 billion ($1.89 billion) in Q1 2026, down 17.6% YoY.
- Net loss was RMB1.78 billion ($0.26 billion) in Q1 2026, compared to a loss of RMB0.66 billion in Q1 2025.
- Gross margin improved to 20.6% in Q1 2026, up 5.0 percentage points from 15.6% in Q1 2025.
- Vehicle margin was 12.1% in Q1 2026, an increase of 1.6 percentage points YoY.
- Total vehicle deliveries were 62,682 in Q1 2026, a 33.3% decrease YoY.
- Cash position stood at RMB42.09 billion ($6.10 billion) as of March 31, 2026.
- Q2 2026 vehicle deliveries are projected to be 100,000 to 106,000 units, up 59.54% to 69.11% QoQ.
- Q2 2026 total revenues are expected to be RMB19.60 billion to RMB20.80 billion, up 50.38% to 59.59% QoQ.
Price Impact
More from XPEV