Shares of Full Truck Alliance (NYSE: YMM) tumbled 5.03% in pre-market trading on Monday following the release of its third-quarter 2025 financial results. Despite beating revenue expectations, the digital freight platform's earnings decline and mixed outlook appear to have dampened investor sentiment.
The company reported adjusted earnings of 0.93 Chinese Renminbi ($0.13) per American Depositary Share (ADS) for Q3, meeting analyst estimates but marking a significant decrease from 1.17 Renminbi per ADS in the same period last year. Total net revenues came in at 3.36 billion Renminbi ($471.7 million), surpassing the FactSet consensus estimate of 3.12 billion Renminbi and representing a 10.8% year-over-year increase.
While Full Truck Alliance showcased some positive operational metrics, including a 22.3% increase in fulfilled orders and a 17.6% rise in average shipper monthly active users (MAUs), the decline in net income seems to have overshadowed these achievements. The company's net income for Q3 2025 decreased compared to the same period last year, potentially raising concerns about profitability amid its growth efforts. Additionally, Full Truck Alliance's Q4 revenue guidance of 3.08-3.18 billion Renminbi, while above analyst expectations, may not have been strong enough to offset the earnings decline.