Full Truck Alliance Co. Ltd. Announces First Quarter 2026 Unaudited Financial Results
Rhea-AI Summary
Full Truck Alliance (NYSE:YMM) reported Q1 2026 net revenues of RMB2,848.4 million, up 5.5% year over year, with fulfilled orders up 14.3% to 55.0 million and average shipper MAUs up 12.7% to 3.11 million.
Net income was RMB994.1 million and non-GAAP adjusted net income RMB1,202.0 million, both below Q1 2025. Operating cash flow rose to RMB1,562.0 million and free cash flow to RMB1,493.8 million. The company guided Q2 2026 net revenues to RMB3.07–3.17 billion and declared a Q2 cash dividend totaling about US$87.5 million.
Positive
- Q1 2026 net revenues increased 5.5% year over year to RMB2,848.4 million
- Transaction service revenue grew 33.1% year over year to RMB1,393.1 million
- Fulfilled orders rose 14.3% to 55.0 million; shipper MAUs up 12.7%
- Q1 2026 operating cash flow reached RMB1,562.0 million; free cash flow RMB1,493.8 million
- Cash, investments and similar balances totaled RMB32.3 billion as of March 31, 2026
- Board approved Q2 2026 cash dividend of US$0.0840 per ADS (~US$87.5 million)
- Q2 2026 ex-brokerage net revenues guided to grow 7.1%–11.7% year over year
Negative
- Q1 2026 net income declined to RMB994.1 million from RMB1,278.9 million
- Non-GAAP adjusted net income fell to RMB1,202.0 million from RMB1,391.4 million
- Freight brokerage revenue decreased to RMB827.1 million from RMB965.7 million
- Value-added services revenue declined to RMB376.0 million from RMB452.8 million
- General and administrative expenses rose to RMB299.6 million from RMB186.0 million
- Non-performing loan ratio increased to 3.2% from 2.9% by year-end 2025
- Q2 2026 total net revenue guidance (RMB3.07–3.17b) is below Q2 2025’s RMB3.24b
News Market Reaction – YMM
In the May 21 session, YMM gained 4.26%, reflecting a moderate positive market reaction. Argus tracked a trough of -10.4% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 12 | FY25 earnings | Positive | -1.6% | Full-year 2025 revenue and net income growth with strong order expansion. |
| Nov 17 | Q3 2025 earnings | Neutral | -11.9% | Moderate revenue growth but lower net income and adjusted profit versus prior year. |
| Aug 21 | Q2 2025 earnings | Positive | +9.8% | Strong revenue and profit growth with higher orders and MAUs plus dividend. |
| May 21 | Q1 2025 earnings | Positive | -1.5% | Robust revenue and net income surge, strong order and MAU expansion. |
| Mar 05 | FY24 earnings | Positive | +13.6% | High revenue growth, rising annual profits, and new dividend and buyback plans. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases often showed strong operational growth, yet price reactions were mixed, with several instances of share declines following positive results.
Over the past year, YMM’s earnings releases on Mar 12, 2026, Nov 17, 2025, Aug 21, 2025, May 21, 2025, and Mar 5, 2025 highlighted consistent revenue and order growth, rising cash balances, and expanding transaction services. However, share-price reactions varied: some strong quarters with higher net income and dividends produced gains, while others with similarly positive fundamentals saw declines. Today’s Q1 2026 update continues the theme of growing volumes and AI integration alongside changing profit and revenue dynamics.
Key Terms
non-gaap adjusted net income financial
fulfilled orders technical
maus technical
value-added services financial
ads financial
free cash flow financial
non-performing loan ratio financial
vat regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter 2026 Financial and Operational Highlights
- Total net revenues in the first quarter of 2026 were
RMB2,848.4 million (US ), an increase of$412.9 million 5.5% fromRMB2,699.9 million in the same period of 2025.
- Net income in the first quarter of 2026 was
RMB994.1 million (US ), compared with$144.1 million RMB1,278.9 million in the same period of 2025.
- Non-GAAP adjusted net income1 in the first quarter of 2026 was
RMB1,202.0 million (US ), compared with$174.3 million RMB1,391.4 million in the same period of 2025.
- Fulfilled orders2 in the first quarter of 2026 reached 55.0 million, an increase of
14.3% from 48.2 million in the same period of 2025.
- Average shipper MAUs3 in the first quarter of 2026 reached 3.11 million, an increase of
12.7% from 2.76 million in the same period of 2025.
Mr. Peter Hui Zhang, Founder, Chairman, and Chief Executive Officer of FTA, commented, "In the first quarter of 2026, our business sustained robust growth momentum, delivering meaningful improvement in both scale and quality. Quarterly fulfilled orders grew by more than
Mr. Langbo Guo, President of FTA, added, "Continued order growth this quarter was driven by improvements in user experience. Total net revenues grew by
1 Non-GAAP adjusted net income is defined as net income excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; and (iii) tax effects of non-GAAP adjustments. See "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
2 Fulfilled orders on our platform in a given period are defined as all shipping orders matched through our platform during such period but exclude (i) shipping orders that are subsequently canceled and (ii) shipping orders for which our users failed to specify any freight prices, as there are substantial uncertainties as to whether such shipping orders are fulfilled. |
3 Average shipper MAUs in a given period are calculated by dividing (i) the sum of shipper MAUs for each month of a given period by (ii) the number of months in a given period. Shipper MAUs are defined as the number of active shippers on our platform in a given month. Active shippers are defined as the aggregate number of registered shipper accounts that have posted at least one shipping order on our platform during a given period. |
First Quarter 2026 Financial Results
Net Revenues (including value added taxes, or "VAT" of
Freight matching services. Revenues from freight matching services in the first quarter of 2026 were
- Freight brokerage service. Revenues from freight brokerage service in the first quarter of 2026 were
RMB827.1 million (US ), compared with$119.9 million RMB965.7 million in the same period of 2025, primarily attributable to a decrease in transaction volume, partially offset by an increase in service fee rate.
- Freight listing service. Revenues from freight listing service in the first quarter of 2026 were
RMB252.2 million (US ), an increase of$36.6 million 7.4% fromRMB234.9 million in the same period of 2025, primarily due to the growing number of total paying members.
- Transaction service. Revenues from transaction service amounted to
RMB1,393.1 million (US ) in the first quarter of 2026, an increase of$202.0 million 33.1% fromRMB1,046.5 million in the same period of 2025, primarily driven by increases in order volume, penetration rate and per-order transaction service fee.
Value-added services.4 Revenues from value-added services in the first quarter of 2026 were
Cost of Revenues (including VAT net of government grants of
Sales and Marketing Expenses. Sales and marketing expenses in the first quarter of 2026 were
General and Administrative Expenses. General and administrative expenses in the first quarter of 2026 were
Research and Development Expenses. Research and development expenses in the first quarter of 2026 were
Income from Operations. Income from operations in the first quarter of 2026 was
Non-GAAP Adjusted Operating Income.5 Non-GAAP adjusted operating income in the first quarter of 2026 was
Net Income. Net income in the first quarter of 2026 was
Non-GAAP Adjusted Net Income. Non-GAAP adjusted net income in the first quarter of 2026 was
Basic and Diluted Net Income per ADS6 and Non-GAAP Adjusted Basic and Diluted Net Income per ADS.7 Basic net income per ADS was
Balance Sheet and Cash Flow
As of March 31, 2026, the Company had cash and cash equivalents, restricted cash, short-term investments, long-term time deposits and wealth management products with maturities over one year of
As of March 31, 2026, the total outstanding loan balance8 was
In the first quarter of 2026, net cash provided by operating activities was
4 The Company provides a range of value-added services including credit solutions, insurance services, electronic toll collection, energy services, intelligent driving-related services, and other services on the FTA platform. |
5 Non-GAAP adjusted operating income is defined as income from operations excluding (i) share-based compensation expense; and (ii) amortization of intangible assets resulting from business acquisitions. See "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
6 ADS refers to American depositary shares, each of which represents 20 Class A ordinary shares. |
7 Non-GAAP adjusted basic and diluted net income per ADS is net income attributable to ordinary shareholders excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; and (iii) tax effects of non-GAAP adjustments, divided by weighted average number of basic and diluted ADSs, respectively. For more information, refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
8 To better reflect the substance of our credit solutions business and present its complete operating performance, we have revised the calculation methodologies of the total outstanding loan balance and the non-performing loan ("NPL") ratio by including off-balance sheet loans in the calculation. Total outstanding loan balance means the aggregate principal amount outstanding under on-balance sheet and off-balance sheet loans as of the end of each reporting period, excluding loans that are more than 180 days past due. Off-balance sheet loans refer to the loans funded by the Company's institutional funding partners that we bear principal risk. NPL ratio is calculated by dividing the sum of total outstanding principal of the on- and off-balance sheet loans that were over 90 calendar days past due (excluding loans that are over 180 days past due and are therefore charged off) by the sum of total outstanding principal of on- and off-balance sheet loans (excluding loans that are over 180 days past due and are therefore charged off) as of a specified date. Comparative periods have been restated accordingly to conform to this presentation. |
9 Free cash flow is defined as operating cash flow adjusted for the impact from capital expenditures. Capital expenditures include purchase of property and equipment and intangible assets. |
Business Outlook
The Company expects its total net revenues to be between
Declaration of Quarterly Cash Dividend
Pursuant to the Company's shareholder return plan, the board approved a cash dividend for the second quarter of 2026 in the amount of
The board will review the quarterly cash dividend policy periodically, and may authorize adjustments to the size and terms of the dividends to ensure that the total shareholder return value for fiscal year 2026 will be approximately
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
Conference Call
The Company's management will hold an earnings conference call at 7:00 A.M.
For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below prior to the scheduled call start time.
Participant Online Registration:
https://s1.c-conf.com/diamondpass/10054328-huyt67.html
Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the provided number, enter your PIN, and you will join the conference.
The replay will be accessible through May 28, 2026, by dialing the following numbers:
+1-855-883-1031 | |
Mainland | 400-120-9216 |
800-930-639 | |
0800-031-4295 | |
800-101-3223 | |
Replay Access Code: | 10054328 |
A live and archived webcast of the conference call will also be available on the Company's investor relations website at ir.fulltruckalliance.com.
About Full Truck Alliance Co. Ltd.
Full Truck Alliance Co. Ltd. (NYSE: YMM) is a leading digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types. The Company provides a range of freight matching services, including freight listing, freight brokerage and transaction services. The Company also provides a range of value-added services that cater to the various needs of shippers and truckers, such as financial institutions, highway authorities, and gas station operators. With a mission to empower enterprises with greater logistics competitiveness, the Company is shaping the future of logistics with technology and aspires to revolutionize logistics, improve efficiency across the value chain and reduce its carbon footprint for our planet. For more information, please visit ir.fulltruckalliance.com.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders, non-GAAP adjusted basic and diluted net income per share and non-GAAP adjusted basic and diluted net income per ADS, each a non-GAAP financial measure, as supplemental measures to review and assess its operating performance.
The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with
The non-GAAP financial measures are not defined under
The Company reconciles the non-GAAP financial measures to the nearest
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this release.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the
For investor and media inquiries, please contact:
In
Full Truck Alliance Co. Ltd.
Mao Mao
E-mail: IR@amh-group.com
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: FTA@thepiacentegroup.com
In
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: FTA@thepiacentegroup.com
FULL TRUCK ALLIANCE CO. LTD. | |||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||
As of | |||||
December 31, | March 31, | March 31, | |||
2025 | 2026 | 2026 | |||
RMB | RMB | US$ | |||
ASSETS | |||||
Current assets: | |||||
Cash and cash equivalents | 6,066,137 | 6,670,150 | 966,969 | ||
Restricted cash | 70,290 | 79,920 | 11,586 | ||
Short-term investments | 11,048,309 | 11,793,781 | 1,709,739 | ||
Accounts receivable, net | 75,133 | 96,076 | 13,928 | ||
Amount due from related parties | — | 14,154 | 2,052 | ||
Loans receivable, net | 4,851,353 | 4,268,909 | 618,862 | ||
Prepayments and other current assets, net | 940,552 | 952,925 | 138,145 | ||
Total current assets | 23,051,774 | 23,875,915 | 3,461,281 | ||
Restricted cash | 30,000 | 200,000 | 28,994 | ||
Long-term time deposits and other investments1 | 14,268,513 | 13,592,790 | 1,970,541 | ||
Investments in equity investees | 1,043,145 | 1,068,115 | 154,844 | ||
Property and equipment, net | 457,487 | 521,551 | 75,609 | ||
Intangible assets, net | 757,408 | 732,805 | 106,234 | ||
Goodwill | 4,025,420 | 4,025,420 | 583,563 | ||
Deferred tax assets | 249,551 | 279,778 | 40,559 | ||
Operating lease right-of-use assets | 92,218 | 82,144 | 11,908 | ||
Other non-current assets | 346,512 | 430,247 | 62,373 | ||
Total non-current assets | 21,270,254 | 20,932,850 | 3,034,625 | ||
TOTAL ASSETS | 44,322,028 | 44,808,765 | 6,495,906 | ||
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | |||||
Current liabilities: | |||||
Accounts payable | 37,750 | 40,881 | 5,927 | ||
Amount due to related parties | 29,674 | 29,450 | 4,269 | ||
Prepaid for freight listing fees and other service fees | 637,489 | 578,109 | 83,808 | ||
Income tax payable | 421,707 | 489,474 | 70,959 | ||
Other tax payable | 479,286 | 555,325 | 80,505 | ||
Operating lease liabilities | 33,847 | 24,564 | 3,561 | ||
Dividends payable | — | 598,860 | 86,816 | ||
Accrued expenses and other current liabilities | 1,211,279 | 1,129,222 | 163,703 | ||
Total current liabilities | 2,851,032 | 3,445,885 | 499,548 | ||
Deferred tax liabilities | 185,578 | 179,643 | 26,043 | ||
Operating lease liabilities | 1,485 | 1,100 | 159 | ||
Other non-current liabilities | 12,328 | 11,247 | 1,630 | ||
Total non-current liabilities | 199,391 | 191,990 | 27,832 | ||
TOTAL LIABILITIES | 3,050,423 | 3,637,875 | 527,380 | ||
MEZZANINE EQUITY | |||||
Redeemable non-controlling interests | 767,813 | 785,491 | 113,872 | ||
Subscription receivables | (20,000) | — | — | ||
SHAREHOLDERS' EQUITY | |||||
Ordinary shares | 1,345 | 1,339 | 194 | ||
Additional paid-in capital | 44,328,028 | 43,630,647 | 6,325,116 | ||
Accumulated other comprehensive income | 2,742,068 | 2,417,763 | 350,502 | ||
Accumulated deficit | (7,020,237) | (6,121,892) | (887,488) | ||
TOTAL FULL TRUCK ALLIANCE CO. LTD. EQUITY | 40,051,204 | 39,927,857 | 5,788,324 | ||
Non-controlling interests | 472,588 | 457,542 | 66,330 | ||
TOTAL SHAREHOLDERS' EQUITY | 40,523,792 | 40,385,399 | 5,854,654 | ||
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY | 44,322,028 | 44,808,765 | 6,495,906 | ||
1. The Group's long-term time deposits and other investments consist ofRMB13,571 million long-term time deposits and | |||||
FULL TRUCK ALLIANCE CO. LTD. | |||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||
Three months ended | |||||||
March 31, | December 31, | March 31, | March 31, | ||||
2025 | 2025 | 2026 | 2026 | ||||
RMB | RMB | RMB | US$ | ||||
Net Revenues: | |||||||
Freight Matching Services | 2,247,107 | 2,704,190 | 2,472,370 | 358,419 | |||
Freight brokerage service | 965,666 | 961,472 | 827,064 | 119,899 | |||
Freight listing service | 234,905 | 255,214 | 252,175 | 36,558 | |||
Transaction service | 1,046,536 | 1,487,504 | 1,393,131 | 201,962 | |||
Value-added services | 452,802 | 488,412 | 376,014 | 54,511 | |||
Total net revenues (including value added taxes, or "VAT" of | |||||||
ended March 31, 2025 and 2026, respectively) | 2,699,909 | 3,192,602 | 2,848,384 | 412,930 | |||
Operating expenses: | |||||||
Cost of revenues (including VAT net of government grants, of | |||||||
ended March 31, 2025 and 2026, respectively)(1) | (698,559) | (1,076,652) | (778,220) | (112,818) | |||
Sales and marketing expenses(1) | (377,850) | (497,258) | (381,691) | (55,334) | |||
General and administrative expenses(1) | (186,009) | (191,869) | (299,590) | (43,431) | |||
Research and development expenses(1) | (193,358) | (258,207) | (255,330) | (37,015) | |||
Provision for loans receivable | (81,851) | (144,047) | (143,634) | (20,823) | |||
Total operating expenses | (1,537,627) | (2,168,033) | (1,858,465) | (269,421) | |||
Other operating income | 40,165 | 3,356 | 16,040 | 2,325 | |||
Income from operations | 1,202,447 | 1,027,925 | 1,005,959 | 145,834 | |||
Other income | |||||||
Interest income | 245,509 | 226,662 | 216,824 | 31,433 | |||
Foreign exchange loss | (10,825) | (4,308) | (6,114) | (886) | |||
Investment income | 19,333 | 31,094 | 12,206 | 1,769 | |||
Unrealized gains (losses) from fair value changes of investments | 33,462 | 12,947 | (3,577) | (519) | |||
Other income (expenses), net | 618 | (16,593) | (2,369) | (343) | |||
Share of gain (loss) in equity method investees | 163 | (10,572) | (4,423) | (641) | |||
Total other income | 288,260 | 239,230 | 212,547 | 30,813 | |||
Net income before income tax | 1,490,707 | 1,267,155 | 1,218,506 | 176,647 | |||
Income tax expense | (211,771) | (272,869) | (224,409) | (32,532) | |||
Net income | 1,278,936 | 994,286 | 994,097 | 144,115 | |||
Less: net loss attributable to non-controlling interests | (1,162) | (13,396) | (14,487) | (2,100) | |||
Less: measurement adjustment attributable to redeemable non-controlling | 11,522 | 19,853 | 17,678 | 2,563 | |||
Net income attributable to ordinary shareholders | 1,268,576 | 987,829 | 990,906 | 143,652 | |||
FULL TRUCK ALLIANCE CO. LTD. | |||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (CONTINUED) | |||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||
Three months ended | |||||||
March 31, | December 31, | March 31, | March 31, | ||||
2025 | 2025 | 2026 | 2026 | ||||
RMB | RMB | RMB | US$ | ||||
Net income per share | |||||||
—Basic | 0.06 | 0.05 | 0.05 | 0.01 | |||
—Diluted | 0.06 | 0.05 | 0.05 | 0.01 | |||
Net income per ADS* | |||||||
—Basic | 1.22 | 0.95 | 0.95 | 0.14 | |||
—Diluted | 1.21 | 0.94 | 0.95 | 0.14 | |||
Weighted average number of ordinary shares used | |||||||
in computing net income per share | |||||||
—Basic | 20,850,255,050 | 20,841,527,394 | 20,789,216,349 | 20,789,216,349 | |||
—Diluted | 20,958,643,962 | 20,909,526,453 | 20,882,514,034 | 20,882,514,034 | |||
Weighted average number of ADSs used in | |||||||
computing net income per ADS | |||||||
—Basic | 1,042,512,753 | 1,042,076,370 | 1,039,460,817 | 1,039,460,817 | |||
—Diluted | 1,047,932,198 | 1,045,476,323 | 1,044,125,702 | 1,044,125,702 | |||
* Each ADS represents 20 ordinary shares. | |||||||
(1) Share-based compensation expense in operating expenses are as follows: | |||||||
Three months ended | |||||||||||||||||||
March 31, | December 31, | March 31, | March 31, | ||||||||||||||||
2025 | 2025 | 2026 | 2026 | ||||||||||||||||
RMB | RMB | RMB | US$ | ||||||||||||||||
Cost of revenues | 3,849 | 2,410 | 2,591 | 376 | |||||||||||||||
Sales and marketing expenses | 19,558 | 7,803 | 9,078 | 1,316 | |||||||||||||||
General and administrative expenses | 55,768 | 27,047 | 164,945 | 23,912 | |||||||||||||||
Research and development expenses | 23,498 | 14,300 | 13,520 | 1,960 | |||||||||||||||
Total | 102,673 | 51,560 | 190,134 | 27,564 | |||||||||||||||
FULL TRUCK ALLIANCE CO. LTD. | |||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND FREE CASH FLOW | |||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||
Three months ended | |||||||
March 31, | December 31, | March 31, | March 31, | ||||
2025 | 2025 | 2026 | 2026 | ||||
RMB | RMB | RMB | US$ | ||||
Net cash provided by operating activities | 325,643 | 1,330,883 | 1,561,958 | 226,436 | |||
Net cash provided by (used in) investing activities | 2,153,412 | (341,108) | (453,603) | (65,759) | |||
Net cash used in financing activities | (3,921) | (647,175) | (296,945) | (43,048) | |||
Effect of exchange rate changes on cash, cash equivalents and | |||||||
restricted cash | (18,885) | (17,167) | (27,767) | (4,024) | |||
Net increase in cash, cash equivalents and restricted cash | 2,456,249 | 325,433 | 783,643 | 113,605 | |||
Cash and cash equivalents and restricted cash, beginning of the period | 5,950,880 | 5,840,994 | 6,166,427 | 893,944 | |||
Cash and cash equivalents and restricted cash, end of the period | 8,407,129 | 6,166,427 | 6,950,070 | 1,007,549 | |||
Net cash provided by operating activities | 325,643 | 1,330,883 | 1,561,958 | 226,436 | |||
Less: Capital expenditures | (32,655) | (34,481) | (68,169) | (9,882) | |||
Free cash flow (non-GAAP) | 292,988 | 1,296,402 | 1,493,789 | 216,554 | |||
FULL TRUCK ALLIANCE CO. LTD. | |||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS | |||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||
Three months ended | |||||||
March 31, | December 31, | March 31, | March 31, | ||||
2025 | 2025 | 2026 | 2026 | ||||
RMB | RMB | RMB | US$ | ||||
Income from operations | 1,202,447 | 1,027,925 | 1,005,959 | 145,834 | |||
Add: | |||||||
Share-based compensation expense | 102,673 | 51,560 | 190,134 | 27,564 | |||
Amortization of intangible assets resulting from | |||||||
business acquisitions | 13,021 | 22,956 | 23,738 | 3,441 | |||
Non-GAAP adjusted operating income | 1,318,141 | 1,102,441 | 1,219,831 | 176,839 | |||
Net income | 1,278,936 | 994,286 | 994,097 | 144,115 | |||
Add: | |||||||
Share-based compensation expense | 102,673 | 51,560 | 190,134 | 27,564 | |||
Amortization of intangible assets resulting from | |||||||
business acquisitions | 13,021 | 22,956 | 23,738 | 3,441 | |||
Tax effects of non-GAAP adjustments | (3,255) | (5,739) | (5,935) | (860) | |||
Non-GAAP adjusted net income | 1,391,375 | 1,063,063 | 1,202,034 | 174,260 | |||
FULL TRUCK ALLIANCE CO. LTD. | |||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (CONTINUED) | |||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||
Three months ended | |||||||
March 31, | December 31, | March 31, | March 31, | ||||
2025 | 2025 | 2026 | 2026 | ||||
RMB | RMB | RMB | US$ | ||||
Net income attributable to ordinary shareholders | 1,268,576 | 987,829 | 990,906 | 143,652 | |||
Add: | |||||||
Share-based compensation expense | 102,673 | 51,560 | 190,134 | 27,564 | |||
Amortization of intangible assets resulting from | |||||||
business acquisitions | 13,021 | 22,956 | 23,738 | 3,441 | |||
Tax effects of non-GAAP adjustments | (3,255) | (5,739) | (5,935) | (860) | |||
Non-GAAP adjusted net income attributable to | |||||||
ordinary shareholders | 1,381,015 | 1,056,606 | 1,198,843 | 173,797 | |||
Non-GAAP adjusted net income per share | |||||||
—Basic | 0.07 | 0.05 | 0.06 | 0.01 | |||
—Diluted | 0.07 | 0.05 | 0.06 | 0.01 | |||
Non-GAAP adjusted net income per ADS | |||||||
—Basic | 1.32 | 1.01 | 1.15 | 0.17 | |||
—Diluted | 1.32 | 1.01 | 1.15 | 0.17 | |||
View original content:https://www.prnewswire.com/news-releases/full-truck-alliance-co-ltd-announces-first-quarter-2026-unaudited-financial-results-302778713.html
SOURCE Full Truck Alliance Co. Ltd.