VinFast posts Q2 revenue beat as per-share loss widens

Why it matters

The revenue and delivery gains show stronger operating volume, but the wider loss and sharply negative gross margin indicate continued pressure on profitability. The company expects its expansion, cost-efficiency measures and broader revenue base to support a longer-term path toward stronger cash generation and profitability.

Key facts

• 1Second-quarter revenue was VND30,340.9 billion (US$1,203.7 million), 32.9% above the first quarter and 85.5% higher than the year-earlier quarter. prnewswire.com
• 2VinFast delivered 70,085 EVs in the quarter, up 20% from the first quarter and 96% from the second quarter of 2025. prnewswire.com
• 3E-scooter and e-bike deliveries totaled 286,039, increasing 100% quarter over quarter and 311% year over year. prnewswire.com
• 4The quarter produced an adjusted loss of $0.53 per share, compared with a consensus estimate of a $0.27 loss per share. finance.yahoo.com
• 5Gross margin fell to negative 62.8% from negative 21.8% in the comparable prior-year period. finance.yahoo.com
• 6Operating loss was $1.16 billion, versus $388 million in the same period of 2025. finance.yahoo.com

Open questions

• One report identifies the release as third-quarter results and gives a $0.26 earnings miss, while the company release and other materials identify the period as the second quarter and report a $0.27 consensus loss against $0.53 per share.
• A separate account cites a $1.24 billion quarterly loss and a $1.47 billion gain from selling a manufacturing subsidiary, figures not provided in the company results supplied here.
• Only one account reports adjusted EBITDA of -$1.1B, a 300K EV-delivery target for 2026 and a $2.9B reduction in borrowings; the supplied company release does not establish those figures.