XPeng (XPEV) Stock: Turns Profitable for the First Time as Revenue and Deliveries Surge

TLDR

• XPeng reports first-ever quarterly profit of RMB0.38B in Q4 2025.

• Revenue jumps 38% YoY to RMB22.25B, supporting profitability surge.

• Vehicle deliveries rise 27% YoY, full-year shipments up 126% in 2025.

• Gross margin climbs to 21.3%, aided by cost cuts and product mix.

• Cash reserves grow to RMB47.66B; AI and autonomous driving expand.

XPeng Inc. (XPEV) shares moved into profitability as strong deliveries and revenue growth lifted its latest results. The stock traded at $18.53, declining 3.29% after an early spike faded. However, the financial update showed improving margins, higher cash reserves, and a clear shift toward sustained earnings.

XPeng Inc., XPEV

XPeng Achieves First Quarterly Profit as Margins Expand

XPeng reported a net profit of RMB0.38 billion in the fourth quarter of 2025. This marked the company’s first profitable quarter since its listing. Meanwhile, non-GAAP net profit reached RMB0.51 billion, showing improved operational efficiency.

Revenue growth supported the turnaround, as total quarterly revenue reached RMB22.25 billion. This figure reflected a 38.2% increase compared to the same period in 2024. Sequential growth also remained steady, rising 9.2% from the previous quarter.

Margins strengthened alongside revenue gains, and gross margin climbed to 21.3%. This represented a sharp increase from 14.4% a year earlier. Vehicle margin also improved to 13.0%, supported by cost reductions and better product mix.

XPeng Records Strong Delivery Growth and Expands Global Footprint

XPeng delivered 116,249 vehicles in the fourth quarter of 2025. This result showed a 27.0% increase compared to the same quarter in 2024. Quarterly deliveries also remained stable compared to the previous quarter.

Full-year performance showed even stronger momentum, as XPeng delivered 429,445 vehicles in 2025. This represented a 125.9% increase year over year. Revenue for the full year reached RMB76.72 billion, rising 87.7% from 2024 levels.

XPeng also expanded its infrastructure and retail presence during the period. The company operated 721 stores across 255 cities by year-end. In addition, its charging network reached 3,159 stations, including over 2,100 ultra-fast units.

XPeng Strengthens Financial Position and Advances Technology Strategy

XPeng ended 2025 with a cash position of RMB47.66 billion. This increase from RMB41.96 billion in 2024 provided a strong liquidity base. The company continued to invest heavily in research and development to support future growth.

Operating trends improved as losses narrowed significantly across key metrics. Operating loss fell to RMB0.04 billion in the fourth quarter.  Higher government subsidies and service revenues supported overall profitability.

XPeng also advanced its autonomous driving and AI initiatives during early 2026. The company introduced its VLA 2.0 intelligent driving system with plans for broader deployment. In addition, early 2026 deliveries reached 35,267 vehicles across January and February, showing continued demand momentum.

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