NYSE$YMM
Full Truck Alliance Co. Ltd · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Full Truck Alliance Q3: RMB3.36B revenue (+11%); transaction fees up 39%
Full Truck Alliance reported Q3 2025 total net revenues of RMB3.36 billion (US$471.7 million), up 10.8% year over year, as transaction service revenue grew 39.0% to RMB1.46 billion despite lower freight brokerage volumes. Net income was RMB921.0 million versus RMB1.12 billion in Q3 2024, while non-GAAP adjusted net income was RMB988.1 million. Fulfilled orders reached 63.4 million (+22.3%) and average shipper MAUs hit 3.35 million (+17.6%). The company consolidated Giga.AI after a July investment, strengthening AI capabilities for its digital freight platform.
- Q3 revenue RMB3.36B (+10.8%); net income RMB921.0M; adjusted net income RMB988.1M.
- Transaction service revenue RMB1.46B (+39.0%); freight matching RMB2.80B (+9.6%).
- Fulfilled orders 63.4M (+22.3%); average shipper MAUs 3.35M (+17.6%).
- Income from operations RMB776.3M (+1.9%); value-added services revenue +16.9%.
- Giga.AI majority stake consolidated July 9, 2025, expanding AI capabilities.
Headline financials
Revenue & EPS history
FTA · Revenue · Quarterly
¥3.36B
Revenue by segment
FTA · ¥5.91B total across 4 segments · Q3 2025
- Freight matching services¥2.8B—47.3%
- Transaction service¥1.46B—24.6%
- Freight brokerage service¥1.09B—18.5%
- Value-added services¥561M—9.5%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+2.7%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+3.1%
Avg return
30 days after
57%
12 / 21 earnings
Positive
+21.1%
Q2 2022
Best reaction
-11.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.7% | — | — | |
| Q4 2025 | -1.5% | -4.4% | -9.4% | |
| Q3 2025 | -11.9% | -15.8% | -8.5% | |
| Q2 2025 | +10.3% | +17.5% | +23.4% | |
| Q1 2025 | -1.3% | -7.6% | -3.6% | |
| Q4 2024 | +13.6% | +4.5% | -4.6% | |
| Q3 2024 | +13.2% | +10.7% | +32.1% | |
| Q2 2024 | +3.0% | +1.6% | +3.0% | |
| Q1 2024 | -1.9% | -4.9% | -5.8% | |
| Q4 2023 | +1.6% | +8.4% | +17.1% | |
| Q3 2023 | +11.4% | +10.7% | -4.7% | |
| Q2 2023 | +9.5% | +12.3% | +10.9% | |
| Q1 2023 | -2.0% | -0.3% | +12.8% | |
| Q4 2022 | -9.1% | -8.6% | -12.0% | |
| Q3 2022 | +3.9% | +8.1% | +32.6% | |
| Q2 2022 | +21.1% | +9.9% | -6.1% | |
| Q1 2022 | +1.4% | -11.4% | +11.2% | |
| Q4 2020 | -4.9% | +18.7% | -1.8% | |
| Q4 2021 | -5.0% | -7.0% | -27.7% | |
| Q3 2021 | -5.5% | -16.5% | -32.5% | |
| Q2 2021 | +6.6% | -16.8% | +35.3% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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