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SINGAPORE - On Friday, VinFast Auto Ltd. (NASDAQ:VFS) reported wider-than-expected losses in the third quarter, despite delivering record vehicle numbers and growing revenue significantly.
The company’s shares fell 5.34% in pre-market trading after the results.
The company posted a third-quarter adjusted loss of $0.41 per share, missing analyst estimates of $0.26 per share. Revenue reached VND18,100.2 billion ($718.6 million), representing a 46.8% increase YoY and a 9% rise from the previous quarter, driven primarily by vehicle sales.
VinFast delivered 38,195 electric vehicles in the quarter, up 7% sequentially and 74% YoY. However, gross margin deteriorated to negative 56.2% compared to negative 24% in the year-ago period, as higher warranty provisions and deferred revenue costs weighed on profitability.
"This quarter, VinFast became the first automobile brand to surpass 100,000 vehicles sold in Vietnam within the first three quarters of a single year, following thirteen consecutive months as the nation’s best-selling carmaker," said Madame Thuy Le, Chairwoman of VinFast.
The company maintained its target to at least double global EV deliveries in 2025. VinFast’s expansion across Asian markets continues to gain traction, with the company ranking among the top 8 for EV registrations in India in October and among the top 5 BEV brands in Indonesia.
Despite the revenue growth, VinFast’s net loss widened to VND24,011.1 billion ($953.3 million), an 81.2% increase from the same period last year. The company’s cash position stood at VND8,800.1 billion ($349.4 million) as of September 30, 2025.
The company continues to receive financial support from its parent company Vingroup and founder Pham Nhat Vuong, who committed to provide up to VND50,000 billion ($2 billion) in grants, of which VND28,000 billion ($1.1 billion) has been disbursed as of September 30.
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