Full Truck Alliance Co. Ltd. Reports Third Quarter 2025 Financial Performance Highlights

Financial Results Analysis of Full Truck Alliance Co. Ltd.

On November 17, 2025, Full Truck Alliance Co. Ltd., a prominent digital freight platform, disclosed its unaudited financial results for the third quarter (Q3) that ended on September 30, 2025. This release highlighted key metrics reflecting both financial growth and operational milestones.

Financial Overview

In Q3 2025, Full Truck Alliance reported total net revenues of RMB 3,358.2 million (approximately USD 471.7 million). This indicates a robust year-over-year increase of 10.8% compared to RMB 3,031.4 million recorded during the same period in 2024.

However, net income for the third quarter fell to RMB 921.0 million (USD 129.4 million), a decrease from RMB 1,121.9 million compared to Q3 2024. Adjusted net income (on a non-GAAP basis) was reported at RMB 988.1 million (USD 138.8 million), compared with RMB 1,241.2 million during the prior year's same quarter.

Operational Highlights

One significant metric for Full Truck Alliance is the volume of fulfilled orders. For Q3 2025, the company fulfilled 63.4 million orders, marking a substantial increase of 22.3% from 51.9 million in Q3 2024. The platform also noted an uptick in active users, with average monthly active users (MAUs) reaching 3.35 million, 17.6% higher than the average of 2.84 million users recorded in the previous year.

Strategic Focus

Peter Hui Zhang, the Founder, Chairman, and CEO of Full Truck Alliance, emphasized the firm's commitment to cost reduction and efficiency improvements across the logistics sector, facilitated through digital transformation initiatives. He noted a successful focus on user satisfaction through enhanced protecting mechanisms within their ecosystem.

Meanwhile, Langbo Guo, the President of the company, spoke about operational enhancements, boasting record highs across various operational metrics. The company saw its transaction service revenue rise significantly, up 39.0% year over year to RMB 1.46 billion. This growth underscores the expanding role of technology in shaping operational dynamics within the freight matching services offered by FTA.

Future Outlook

Looking ahead, FTA aims to continue leveraging technology not only to drive business growth but to create a sustainable logistics ecosystem. The management has set revenue expectations for Q4 2025 within the range of RMB 3.08 billion to RMB 3.18 billion, reflecting an ambitious growth outlook amidst market fluctuations and operational conditions.

Conclusion

Full Truck Alliance Co. Ltd. showcases promising growth through its Q3 financial results, indicative of a resilient business model within the evolving digital freight landscape. The company's strategies focusing on technology-driven solutions, operational efficiencies, and user satisfaction are laying a foundation for sustained growth as it navigates the challenges of the logistics environment. Investors and stakeholders alike will be keenly watching its performance as the firm continues to innovate and adapt in an increasingly competitive marketplace.