XPeng posted a record high revenue of RMB 5.72B ($888M) in Q3, up 187% YoY and above Wall Street’s estimates of RMB 5.21B, according to a news release by XPeng on Tuesday.
The company posted vehicle sales revenue of RMB 5.46 billion in Q3, up 187.4% YoY and up 52% from Q2.
XPeng reported a net loss of RMB 1.59 billion in Q3, topping market expectations for a net loss of RMB 1.177 billion.
The company posted a net loss of RMB 1.15 billion in the year-ago quarter and a net loss of RMB 1.19 in Q2.
The Chinese EV maker posted a gross margin of 14.4% in Q3, an increase from 11.9% in Q2 and 4.6% in the same quarter last year.
XPeng’s guidance for Q4 deliveries is 34,500-36,500 units, signaling a YoY increase of 166.1-181.5%. It also forecasts revenue for Q4 to be RMB 7.1-7.5 billion, up 149-163% YoY.