XPEV Q4 Loss Narrows Y/Y, Revenues Rise on Strong Vehicle Delivery

Core Insights - XPeng reported a narrower loss of 19 cents per share in Q4 2024 compared to a loss of 21 cents in the same quarter last year, with revenues increasing to $2.21 billion from$1.84 billion, driven by a 52.1% year-over-year increase in vehicle deliveries [1][2] Financial Performance - Vehicle deliveries reached 91,507 units in Q4 2024, with vehicle sales revenues at $2.01 billion, marking a 20$200 million, up 74.4% year-over-year, with a gross margin of 59.6% compared to 38.2% in the prior-year quarter [3] - Total gross margin for Q4 2024 was 14.4%, up from 6.2% in the same quarter of the previous year [3] Expenses and Cash Position - Research and development expenses rose by 53.4% year-over-year to $270 million, while selling, general, and administrative expenses increased by 17.5$310 million [4] - As of December 31, 2024, cash and cash equivalents were RMB18.59 billion, down from RMB21.13 billion a year earlier, with long-term borrowings slightly increasing to RMB5.67 billion [4] Q1 2025 Outlook - For Q1 2025, XPeng anticipates vehicle deliveries between 91,000 and 93,000, indicating a year-over-year increase of 317-326.2%, with total revenues expected to be between $2.07 billion and$2.17 billion, reflecting a year-over-year growth of 129.1-139.8% [5]