XPENG Reports First Quarter 2024 Unaudited Financial Results
XPeng reported its Q1 2024 unaudited financial results. The company had cash and equivalents of RMB41.40 billion (US$5.73 billion) as of March 31, 2024. Total revenues were RMB6.55 billion, a 49.8% decrease quarter-over-quarter but a 62.3% increase year-over-year. Vehicle sales revenue was RMB5.54 billion, down 54.7% QoQ but up 57.8% YoY. The gross margin increased to 12.9%, up from 6.2% in Q4 2023. The net loss was RMB1.37 billion, compared to a net loss of RMB2.34 billion in Q1 2023. XPeng delivered 21,821 vehicles, a 19.7% YoY increase. The company operates 574 stores and 1,171 charging stations across 178 cities. In April 2024, total deliveries reached 9,393 vehicles. For Q2 2024, XPeng expects deliveries between 29,000 and 32,000 vehicles, with revenues of RMB7.5 billion to RMB8.3 billion.
- Total revenues increased 62.3% YoY to RMB6.55 billion.
- Vehicle sales revenue increased 57.8% YoY to RMB5.54 billion.
- Gross margin improved to 12.9%, up from 6.2% in Q4 2023.
- Net loss reduced to RMB1.37 billion from RMB2.34 billion YoY.
- Total deliveries increased 19.7% YoY to 21,821 vehicles.
- XPeng operates 574 stores and 1,171 charging stations across 178 cities.
- Partnership with Volkswagen for E/E Architecture Technical Collaboration.
- positive7:
- Total revenues decreased 49.8% QoQ.
- Vehicle sales revenue decreased 54.7% QoQ.
- Net loss increased slightly QoQ from RMB1.35 billion to RMB1.37 billion.
- Cash and equivalents decreased from RMB45.70 billion in Q4 2023 to RMB41.40 billion.
- Excluding special items, non-GAAP net loss was RMB1.41 billion.
- Research and development expenses increased 4.2% YoY.
- Quarterly deliveries decreased significantly from 60,158 in Q4 2023 to 21,821.
Insights
XPeng's Q1 2024 financial results are a mixed bag for investors. On one hand, there's a substantial year-over-year (
Interestingly, the company's gross margin improved to
However, the persistent net losses remain a concern. Even though the net loss of
For retail investors, the cash position of
The operational highlights offer a broader lens on XPeng's market positioning. The increase in total deliveries by
Despite the growth in deliveries, the
XPeng's partnership with Volkswagen and advancements in AI-based large models can give it a competitive edge. The strategic tie-up with Volkswagen is expected to broaden XPeng's technological capabilities and market reach. The deployment of AI technologies in their vehicles underlines their commitment to innovation, which can attract tech-savvy consumers.
For retail investors, the fluctuating delivery numbers and high operational costs are critical to watch. While the technological advancements and strategic partnerships are promising, they need to translate into consistent and sustainable financial performance.
- Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB41.40 billion (US
$5.73 billion ) as of March 31, 2024 - Quarterly total revenues were RMB6.55 billion, a
49.8% decrease quarter-over-quarter - Quarterly gross margin was
12.9% , an increase of 6.7 percentage points quarter-over-quarter
GUANGZHOU, China, May 21, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the three months ended March 31, 2024.
Operational and Financial Highlights for the Three Months Ended March 31, 2024
| 2024Q1 | 2023Q4 | 2023Q3 | 2023Q2 | 2023Q1 | 2022Q4 | |
| Total deliveries | 21,821 | 60,158 | 40,008 | 23,205 | 18,230 | 22,204 |
- Total deliveries of vehicles were 21,821 for the first quarter of 2024, representing an increase of
19.7% from 18,230 in the corresponding period of 2023. - XPENG’s physical sales network had a total of 574 stores, covering 178 cities as of March 31, 2024.
- XPENG self-operated charging station network reached 1,171 stations, including 359 XPENG S4 ultra-fast charging station as of March 31, 2024.
- Total revenues were RMB6.55 billion (US
$0.91 billion ) for the first quarter of 2024, representing an increase of62.3% from the same period of 2023, and a decrease of49.8% from the fourth quarter of 2023. - Revenues from vehicle sales were RMB5.54 billion (US
$0.77 billion ) for the first quarter of 2024, representing an increase of57.8% from the same period of 2023, and a decrease of54.7% from the fourth quarter of 2023. - Gross margin was
12.9% for the first quarter of 2024, compared with1.7% for the same period of 2023 and6.2% for the fourth quarter of 2023. - Vehicle margin, which is gross profit or loss of vehicle sales as a percentage of vehicle sales revenue, was
5.5% for the first quarter of 2024, compared with negative2.5% for the same period of 2023 and4.1% for the fourth quarter of 2023. - Net loss was RMB1.37 billion (US
$0.19 billion ) for the first quarter of 2024, compared with RMB2.34 billion for the same period of 2023 and RMB1.35 billion for the fourth quarter of 2023. Excluding share-based compensation expenses, fair value gain on derivative liability and fair value gain on derivative liability relating to the contingent consideration, non-GAAP net loss was RMB1.41 billion (US$0.20 billion ) for the first quarter of 2024, compared with RMB2.21 billion for the same period of 2023 and RMB1.77 billion for the fourth quarter of 2023. - Net loss attributable to ordinary shareholders of XPENG was RMB1.37 billion (US
$0.19 billion ) for the first quarter of 2024, compared with RMB2.34 billion for the same period of 2023 and RMB1.35 billion for the fourth quarter of 2023. Excluding share-based compensation expenses, fair value gain on derivative liability and fair value gain on derivative liability relating to the contingent consideration, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB1.41 billion (US$0.20 billion ) for the first quarter of 2024, compared with RMB2.21 billion for the same period of 2023 and RMB1.77 billion for the fourth quarter of 2023. - Basic and diluted net loss per American depositary share (ADS) were both RMB1.45 (US
$0.20) and basic and diluted net loss per ordinary share were both RMB0.73 (US$0.10) for the first quarter of 2024. Each ADS represents two Class A ordinary shares. - Non-GAAP basic and diluted net loss per ADS were both RMB1.49 (US
$0.21) and non-GAAP basic and diluted net loss per ordinary share were both RMB0.75 (US$0.10) for the first quarter of 2024. - Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB41.40 billion (US
$5.73 billion ) as of March 31, 2024, compared with RMB45.70 billion as of December 31, 2023. Time deposits include restricted short-term deposits, short-term deposits, restricted long-term deposits, current portion and non-current portion of long-term deposits.
Key Financial Results
(in RMB billions, except for percentage)
| For the Three Months Ended | % Changei | ||||
| March 31, | December 31, | March 31, | |||
| 2024 | 2023 | 2023 | YoY | QoQ | |
| Vehicle sales | 5.54 | 12.23 | 3.51 | - | |
| Vehicle margin | - | 8.0pts | 1.4pts | ||
| Total revenues | 6.55 | 13.05 | 4.03 | - | |
| Gross profit | 0.84 | 0.81 | 0.07 | 1, | |
| Gross margin | 11.2pts | 6.7pts | |||
| Net loss | 1.37 | 1.35 | 2.34 | - | |
| Non-GAAP net loss | 1.41 | 1.77 | 2.21 | - | - |
| Net loss attributable to ordinary shareholders | 1.37 | 1.35 | 2.34 | - | |
| Non-GAAP net loss attributable to ordinary shareholders | 1.41 | 1.77 | 2.21 | - | - |
| Comprehensive loss attributable to ordinary shareholders | 1.34 | 1.57 | 2.58 | - | - |
________
i Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented
Management Commentary
“XPENG took the lead in the mass production and application of AI-based large models within the China automobile industry. We are confident that we can launch competitive models globally in a more efficient manner and thus spearhead the widespread adoption of AI-powered smart cars,” said Mr. Xiaopeng He, Chairman and CEO of XPENG. “Through our strategic partnership with the Volkswagen Group, XPENG is at the forefront of monetizing in-house developed smart technologies as a technology enabler. Our industry-leading technologies are expected to gain greater market influence and yield better financial returns.”
“Despite fierce market competition, the Company’s gross profit margin saw a substantial increase to
Recent Developments
Deliveries in April 2024
- Total deliveries were 9,393 vehicles in April 2024.
- As of April 30, 2024, year-to-date total deliveries were 31,214 vehicles.
Entry into the Framework Agreement on E/E Architecture Technical Collaboration with the Volkswagen Group
On April 17, 2024, XPENG and the Volkswagen Group announced entry into a framework agreement on technical collaboration with respect to Electrical/Electronic architecture (“E/E Architecture”). For details, please refer to the announcement of the Company dated April 17, 2024.
OTA release of XOS 5.1.0
On May 20, 2024, XPENG released its XOS 5.1.0 to XPENG users via the Over-the-Air (“OTA”) update. The XOS 5.1.0 integrated AI-powered smart cabin functions and XNGP ADAS technologies, including AI Valet Driver and XPlanner with neural network-based planning and control large model.
Unaudited Financial Results for the Three Months Ended March 31, 2024
Total revenues were RMB6.55 billion (US
Revenues from vehicle sales were RMB5.54 billion (US
Revenues from services and others were RMB1.00 billion (US
Cost of sales was RMB5.70 billion (US
Gross margin was
Vehicle margin was
Services and others margin was
Research and development expenses were RMB1.35 billion (US
Selling, general and administrative expenses were RMB1.39 billion (US
Other income, net was RMB0.07 billion (US
Fair value gain on derivative liability relating to the contingent consideration was RMB0.18 billion (US
Loss from operations was RMB1.65 billion (US
Non-GAAP loss from operations, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was RMB1.69 billion (US
Net loss was RMB1.37 billion (US
Non-GAAP net loss, which excludes share-based compensation expenses, fair value gain on derivative liability and fair value gain on derivative liability relating to the contingent consideration, was RMB1.41 billion (US
Net loss attributable to ordinary shareholders of XPENG was RMB1.37 billion (US
Non-GAAP net loss attributable to ordinary shareholders of XPENG, which excludes share-based compensation expenses, fair value gain on derivative liability and fair value gain on derivative liability relating to the contingent consideration, was RMB1.41 billion (US
Basic and diluted net loss per ADS were both RMB1.45 (US
Non-GAAP basic and diluted net loss per ADS were both RMB1.49 (US
Balance Sheets
As of March 31, 2024, the Company had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB41.40 billion (US
Business Outlook
For the second quarter of 2024, the Company expects:
- Deliveries of vehicles to be between 29,000 and 32,000, representing a year-over-year increase of approximately
25.0% to37.9% .
- Total revenues to be between RMB7.5 billion and RMB8.3 billion, representing a year-over-year increase of approximately
48.1% to63.9% .
The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 21, 2024 (8:00 PM Beijing/Hong Kong Time on May 21, 2024).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
| Event Title: | XPENG First Quarter 2024 Earnings Conference Call |
| Pre-registration link: | https://s1.c-conf.com/diamondpass/10038698-t61b9s.html |
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.xiaopeng.com.
A replay of the conference call will be accessible approximately an hour after the conclusion of the call until May 28, 2024, by dialing the following telephone numbers:
| United States: | +1-855-883-1031 |
| International: | +61-7-3107-6325 |
| Hong Kong, China: | 800-930-639 |
| Mainland China: | 400-120-9216 |
| Replay Access Code: | 10038698 |
About XPENG
XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://www.xpeng.com/.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss per weighted average number of ordinary shares and non-GAAP basic loss per ADS, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses, fair value gain (loss) on derivative liability and fair value gain on derivative liability relating to the contingent consideration, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth in this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2203 to US
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPENG’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG’s goal and strategies; XPENG’s expansion plans; XPENG’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPENG’s expectations regarding demand for, and market acceptance of, its products and services; XPENG’s expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG’s filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For Investor Enquiries
IR Department
XPeng Inc.
E-mail: ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1-212-481-2050 or +86-10-6508-0677
E-mail: xpeng@tpg-ir.com
For Media Enquiries
PR Department
XPeng Inc.
E-mail: pr@xiaopeng.com
Source: XPeng Inc.
| XPENG INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | ||||||
| December 31, 2023 | March 31, 2024 | March 31, 2024 | ||||
| RMB | RMB | US$ | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 21,127,163 | 14,543,226 | 2,014,214 | |||
| Restricted cash | 3,174,886 | 3,059,545 | 423,742 | |||
| Short-term deposits | 9,756,979 | 11,640,303 | 1,612,163 | |||
| Restricted short-term deposits | - | 450,863 | 62,444 | |||
| Short-term investments | 781,216 | 684,038 | 94,738 | |||
| Long-term deposits, current portion | 7,054,915 | 6,755,728 | 935,658 | |||
| Accounts and notes receivable, net | 2,716,216 | 2,027,706 | 280,834 | |||
| Installment payment receivables, net, current portion | 1,881,755 | 1,966,401 | 272,343 | |||
| Inventory | 5,526,212 | 6,140,623 | 850,466 | |||
| Amounts due from related parties | 12,948 | 20,879 | 2,892 | |||
| Prepayments and other current assets | 2,489,339 | 2,988,260 | 413,867 | |||
| Total current assets | 54,521,629 | 50,277,572 | 6,963,361 | |||
| Non-current assets | ||||||
| Long-term deposits | 3,035,426 | 3,495,221 | 484,083 | |||
| Restricted long-term deposits | 767,899 | 773,675 | 107,153 | |||
| Property, plant and equipment, net | 10,954,485 | 10,690,749 | 1,480,652 | |||
| Right-of-use assets, net | 1,455,865 | 1,308,344 | 181,204 | |||
| Intangible assets, net | 4,948,992 | 4,832,587 | 669,306 | |||
| Land use rights, net | 2,789,367 | 2,776,898 | 384,596 | |||
| Installment payment receivables, net | 3,027,795 | 3,092,606 | 428,321 | |||
| Long-term investments | 2,084,933 | 2,062,585 | 285,665 | |||
| Other non-current assets | 576,150 | 585,156 | 81,043 | |||
| Total non-current assets | 29,640,912 | 29,617,821 | 4,102,023 | |||
| Total assets | 84,162,541 | 79,895,393 | 11,065,384 | |||
| XPENG INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | |||||||||
| December 31, 2023 | March 31, 2024 | March 31, 2024 | |||||||
| RMB | RMB | US$ | |||||||
| LIABILITIES | |||||||||
| Current liabilities | |||||||||
| Short-term borrowings | 3,889,100 | 4,224,200 | 585,045 | ||||||
| Accounts and notes payable | 22,210,431 | 20,024,354 | 2,773,341 | ||||||
| Amounts due to related parties | 30,880 | - | - | ||||||
| Operating lease liabilities, current portion | 365,999 | 330,770 | 45,811 | ||||||
| Finance lease liabilities, current portion | 34,382 | 34,629 | 4,796 | ||||||
| Deferred revenue, current portion | 630,997 | 556,077 | 77,016 | ||||||
| Long-term borrowings, current portion | 1,363,835 | 1,958,697 | 271,276 | ||||||
| Accruals and other liabilities | 7,580,195 | 6,359,391 | 880,765 | ||||||
| Income taxes payable | 5,743 | 6,737 | 933 | ||||||
| Total current liabilities | 36,111,562 | 33,494,855 | 4,638,983 | ||||||
| Non-current liabilities | |||||||||
| Long-term borrowings | 5,650,782 | 5,432,906 | 752,449 | ||||||
| Operating lease liabilities | 1,490,882 | 1,386,830 | 192,074 | ||||||
| Finance lease liabilities | 777,697 | 787,263 | 109,035 | ||||||
| Deferred revenue | 668,946 | 676,599 | 93,708 | ||||||
| Derivative liability | 393,473 | 224,896 | 31,148 | ||||||
| Deferred tax liabilities | 404,018 | 403,065 | 55,824 | ||||||
| Other non-current liabilities | 2,336,654 | 2,366,947 | 327,818 | ||||||
| Total non-current liabilities | 11,722,452 | 11,278,506 | 1,562,056 | ||||||
| Total liabilities | 47,834,014 | 44,773,361 | 6,201,039 | ||||||
| SHAREHOLDERS’ EQUITY | |||||||||
| Class A Ordinary shares | 103 | 103 | 14 | ||||||
| Class B Ordinary shares | 21 | 21 | 3 | ||||||
| Additional paid-in capital | 70,198,031 | 70,332,742 | 9,740,972 | ||||||
| Statutory and other reserves | 60,035 | 67,812 | 9,392 | ||||||
| Accumulated deficit | (35,760,301 | ) | (37,135,968 | ) | (5,143,272 | ) | |||
| Accumulated other comprehensive income | 1,830,638 | 1,857,322 | 257,236 | ||||||
| Total shareholders' equity | 36,328,527 | 35,122,032 | 4,864,345 | ||||||
| Total liabilities and shareholders’ equity | 84,162,541 | 79,895,393 | 11,065,384 | ||||||
| XPENG INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | |||||||||||
| Three Months Ended | |||||||||||
| March 31, | December 31, | March 31, | March 31, | ||||||||
| 2023 | 2023 | 2024 | 2024 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Revenues | |||||||||||
| Vehicle sales | 3,513,767 | 12,228,314 | 5,544,396 | 767,890 | |||||||
| Services and others | 519,653 | 822,116 | 1,003,700 | 139,011 | |||||||
| Total revenues | 4,033,420 | 13,050,430 | 6,548,096 | 906,901 | |||||||
| Cost of sales | |||||||||||
| Vehicle sales | (3,600,529 | ) | (11,732,955 | ) | (5,242,040 | ) | (726,014 | ) | |||
| Services and others | (365,859 | ) | (508,003 | ) | (462,303 | ) | (64,028 | ) | |||
| Total cost of sales | (3,966,388 | ) | (12,240,958 | ) | (5,704,343 | ) | (790,042 | ) | |||
| Gross profit | 67,032 | 809,472 | 843,753 | 116,859 | |||||||
| Operating expenses | |||||||||||
| Research and development expenses | (1,295,854 | ) | (1,307,745 | ) | (1,350,448 | ) | (187,035 | ) | |||
| Selling, general and administrative expenses | (1,386,620 | ) | (1,936,503 | ) | (1,388,447 | ) | (192,298 | ) | |||
| Total operating expenses | (2,682,474 | ) | (3,244,248 | ) | (2,738,895 | ) | (379,333 | ) | |||
| Other income, net | 30,065 | 352,391 | 74,040 | 10,254 | |||||||
| Fair value gain on derivative liability relating to the contingent consideration | - | 29,339 | 175,131 | 24,255 | |||||||
| Loss from operations | (2,585,377 | ) | (2,053,046 | ) | (1,645,971 | ) | (227,965 | ) | |||
| Interest income | 299,741 | 342,780 | 398,645 | 55,212 | |||||||
| Interest expense | (62,667 | ) | (73,225 | ) | (85,121 | ) | (11,789 | ) | |||
| Fair value gain on derivative liability | - | 561,415 | - | - | |||||||
| Investment gain (loss) on long-term investments | 8,440 | (185,318 | ) | (19,456 | ) | (2,695 | ) | ||||
| Exchange gain (loss) from foreign currency transactions | 2,083 | 46,362 | (12,915 | ) | (1,789 | ) | |||||
| Other non-operating income, net | 6,002 | 27,364 | 4,092 | 567 | |||||||
| Loss before income tax expenses and share of results of equity method investees | (2,331,778 | ) | (1,333,668 | ) | (1,360,726 | ) | (188,459 | ) | |||
| Income tax expenses | (6,157 | ) | (21,754 | ) | (1,060 | ) | (147 | ) | |||
| Share of results of equity method investees | 977 | 7,807 | (6,104 | ) | (845 | ) | |||||
| Net loss | (2,336,958 | ) | (1,347,615 | ) | (1,367,890 | ) | (189,451 | ) | |||
| Net loss attributable to ordinary shareholders of XPeng Inc. | (2,336,958 | ) | (1,347,615 | ) | (1,367,890 | ) | (189,451 | ) | |||
| XPENG INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED) (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | |||||||||||
| Three Months Ended | |||||||||||
| March 31, | December 31, | March 31, | March 31, | ||||||||
| 2023 | 2023 | 2024 | 2024 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Net loss | (2,336,958 | ) | (1,347,615 | ) | (1,367,890 | ) | (189,451 | ) | |||
| Other comprehensive loss | |||||||||||
| Foreign currency translation adjustment, net of tax | (243,953 | ) | (222,618 | ) | 26,684 | 3,696 | |||||
| Total comprehensive loss attributable to XPeng Inc. | (2,580,911 | ) | (1,570,233 | ) | (1,341,206 | ) | (185,755 | ) | |||
| Comprehensive loss attributable to ordinary shareholders of XPeng Inc. | (2,580,911 | ) | (1,570,233 | ) | (1,341,206 | ) | (185,755 | ) | |||
| Weighted average number of ordinary shares used in computing net loss per ordinary share | |||||||||||
| Basic and diluted | 1,722,080,453 | 1,787,655,242 | 1,885,395,377 | 1,885,395,377 | |||||||
| Net loss per ordinary share attributable to ordinary shareholders | |||||||||||
| Basic and diluted | (1.36 | ) | (0.75 | ) | (0.73 | ) | (0.10 | ) | |||
| Weighted average number of ADS used in computing net loss per share | |||||||||||
| Basic and diluted | 861,040,227 | 893,827,621 | 942,697,689 | 942,697,689 | |||||||
| Net loss per ADS attributable to ordinary shareholders | |||||||||||
| Basic and diluted | (2.71 | ) | (1.51 | ) | (1.45 | ) | (0.20 | ) | |||
| XPENG INC. UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | |||||||||||
| Three Months Ended | |||||||||||
| March 31, | December 31, | March 31, | March 31, | ||||||||
| 2023 | 2023 | 2024 | 2024 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Loss from operations | (2,585,377 | ) | (2,053,046 | ) | (1,645,971 | ) | (227,965 | ) | |||
| Fair value gain on derivative liability relating to the contingent consideration | - | (29,339 | ) | (175,131 | ) | (24,255 | ) | ||||
| Share-based compensation expenses | 124,638 | 167,036 | 134,711 | 18,657 | |||||||
| Non-GAAP loss from operations | (2,460,739 | ) | (1,915,349 | ) | (1,686,391 | ) | (233,563 | ) | |||
| Net loss | (2,336,958 | ) | (1,347,615 | ) | (1,367,890 | ) | (189,451 | ) | |||
| Fair value gain on derivative liability relating to the contingent consideration | - | (29,339 | ) | (175,131 | ) | (24,255 | ) | ||||
| Fair value gain on derivative liability | - | (561,415 | ) | - | - | ||||||
| Share-based compensation expenses | 124,638 | 167,036 | 134,711 | 18,657 | |||||||
| Non-GAAP net loss | (2,212,320 | ) | (1,771,333 | ) | (1,408,310 | ) | (195,049 | ) | |||
| Net loss attributable to ordinary shareholders | (2,336,958 | ) | (1,347,615 | ) | (1,367,890 | ) | (189,451 | ) | |||
| Fair value gain on derivative liability relating to the contingent consideration | - | (29,339 | ) | (175,131 | ) | (24,255 | ) | ||||
| Fair value gain on derivative liability | - | (561,415 | ) | - | - | ||||||
| Share-based compensation expenses | 124,638 | 167,036 | 134,711 | 18,657 | |||||||
| Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc. | (2,212,320 | ) | (1,771,333 | ) | (1,408,310 | ) | (195,049 | ) | |||
| Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share | |||||||||||
| Basic and diluted | 1,722,080,453 | 1,787,655,242 | 1,885,395,377 | 1,885,395,377 | |||||||
| Non-GAAP net loss per ordinary share | |||||||||||
| Basic and diluted | (1.28 | ) | (0.99 | ) | (0.75 | ) | (0.10 | ) | |||
| Weighted average number of ADS used in calculating Non-GAAP net loss per share | |||||||||||
| Basic and diluted | 861,040,227 | 893,827,621 | 942,697,689 | 942,697,689 | |||||||
| Non-GAAP net loss per ADS | |||||||||||
| Basic and diluted | (2.57 | ) | (1.98 | ) | (1.49 | ) | (0.21 | ) | |||
FAQ
What were XPeng's total revenues for Q1 2024?
How much did XPeng's vehicle sales revenue change in Q1 2024?
What was XPeng's gross margin in Q1 2024?
How many vehicles did XPeng deliver in Q1 2024?
What is the expected range for XPeng's vehicle deliveries in Q2 2024?
How did XPeng's cash and equivalents change in Q1 2024?
What was XPeng's net loss for Q1 2024?
How many stores and charging stations does XPeng operate?
What is the revenue outlook for XPeng in Q2 2024?
What were XPeng's vehicle deliveries in April 2024?
