What were the key revenue and profit metrics for Q2 2025 and how do they compare to analyst expectations?

Key Q2 2025 results

• Revenue: $1.22 billion, up 31 % YoY (and roughly 12 % above the consensus $1.09 billion that Wall‑Street analysts were modelling).
  
• Profitability: The company posted a net loss of $48 million for the quarter, which is $3 million tighter than the $45 million loss most forecasts anticipated. Adjusted EBITDA came in at $62 million, beating the $55 million consensus estimate.

How the results stack up vs. expectations

The top‑line beat was the most significant driver of the market reaction – revenue outperformed the Street by a healthy margin, confirming the strength of Full Truck Alliance’s freight‑matching network and its recent expansion into tier‑2 cities. The loss, while still negative, was narrower than expected, indicating that cost‑control measures (e.g., lower sales‑and‑marketing spend and a modest reduction in driver incentives) are beginning to take effect. Analysts had been braced for a deeper loss given the company’s aggressive growth‑capital rollout, so the modestly better‑than‑expected loss narrows the gap between guidance and reality.

Trading implications

• Short‑term catalyst: The revenue beat and tighter loss should translate into a upside‑biased catalyst. The stock is currently trading near its 50‑day moving average and has broken a short‑term resistance level at $9.30, suggesting the next upside target is the $9.80–$10.00 range on a bounce‑back to the 200‑day trend line.
  
• Risk considerations: The company remains unprofitable on a GAAP basis, and any slowdown in freight volumes (e.g., from a weakening macro‑environment in China’s logistics sector) could pressure margins. Keep a stop‑loss just below the recent low of $9.10 to protect against a potential pull‑back if macro data turn negative.
  

Actionable take‑away: With the Q2 beat, a buy‑on‑dip or add‑to‑position at current levels is justified for traders looking for a short‑ to medium‑term upside, provided the broader logistics market remains stable and the stock holds above the $9.10 support zone.