XPeng Inc. reported a net loss of RMB 1.34 billion ($187 million) for the second quarter of 2026, missing adjusted earnings per share estimates by $1.00 and revenue by $830 million, sending shares down 4.22% in premarket trading.
Total revenue reached RMB 19.74 billion, up 8% year-over-year but falling short of the RMB 20.57 billion estimate. Adjusted EPS came in at negative $1.29, compared with an estimated loss of $0.29. Vehicle sales revenue rose 1% year-over-year to RMB 17.05 billion, while services and other revenue surged 93.9% to RMB 2.7 billion.
The company delivered 103,295 vehicles in the quarter, a 65% increase from the previous quarter. Gross margin improved to 20.7%, compared with 17.3% a year earlier, though vehicle margin declined to 12.1% from 14.3% in the same period. Operating loss widened to RMB 1.14 billion, while research and development expenses climbed 32.1% year-over-year to RMB 2.91 billion.
XPeng’s stock fell to $11.68 in premarket trading, near its 52-week low of $11.49 and down roughly 35% over the past six months. The company provided third-quarter guidance for deliveries of 115,000 to 121,000 units and revenue of RMB 21.7 billion to RMB 23.4 billion.
Looking ahead, XPeng outlined plans to launch its G9L SUV in September 2026 and expand its MONA series, with overseas deliveries of the MONA L03 expected to begin in the fourth quarter. The company also aims to deploy its VLA 2.0 vision-language-action model in multiple international markets starting in the fourth quarter, with regulatory approval in Europe targeted for the first half of 2027.
XPeng’s robotics business raised over $900 million in a funding round valuing the unit at more than $6.2 billion, led by IDG Capital with participation from Gaorong Ventures, Tencent, and Alibaba. CEO He Xiaopeng emphasized the technological challenges in robotics, noting that advanced humanoid robots require innovation levels 20 times greater than smart electric vehicles.
The company’s robotics division plans to begin scaled mass production of its Iron humanoid robot by year-end 2026, with initial deployments in XPeng stores and broader customer deliveries slated for 2027.
