← Full Truck Alliance Co. Ltd.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Operating Revenue $2.5b
$2.6b +4.36%
$4.7b +80.45%
$6.7b +44.59%
$8.4b +25.28%
$11.2b +33.22%
$12.5b +11.13%
$12.6b +1.19%
Revenue from Contract with Customer, Including Assessed Tax — $2.6b $730.8m $976.3m $1.2b $1.5b $1.8b —
Cost of Revenue ($1.4b)
$1.3b +194.69%
$398.6m -69.71%
$509.6m +27.84%
$580.2m +13.85%
$698.8m +20.45%
$660.5m -5.48%
$4.7b +611.37%
Cost of revenues (including VAT net of government grants, of RMB3,121,010, RMB3,893,351and RMB 3,262,448 for the years ended December 31, 2023, 2024 and 2025, respectively) ($1.4b)
($1.3b) +5.31%
($2.5b) -93.01%
($3.5b) -38.37%
($4.1b) -17.20%
($5.1b) -23.83%
($4.6b) +9.45%
$4.7b +201.72%
Gross Profit $1.1b
$1.3b +16.77%
$4.3b +236.69%
$3.2b -24.41%
$4.3b +34.11%
$6.1b +42.18%
$7.9b +28.23%
$7.9b +0.87%
Research And Development $396.7m $413.4m $729.7m $914.2m $946.6m $880.0m $874.4m $936.4m
Research and Development Expense — $413.4m $114.5m $132.5m $133.3m $120.6m $125.0m $936.4m
Selling and Marketing Expense — $454.3m $131.4m $130.8m $174.5m $218.8m $249.9m $2.6b
Sales and marketing expenses ($403.1m) ($454.3m) ($837.3m) ($902.3m) ($1.2b) ($1.6b) ($1.7b) —
General and Administrative Expense — $3.9b $670.2m $205.6m $132.1m $125.2m $101.5m $823.4m
General and administrative expenses ($1.2b) ($3.9b) ($4.3b) ($1.4b) ($937.7m) ($913.8m) ($709.8m) $823.4m
Amortization of Intangible Assets — $47.0m $50.0m $61.8m $58.3m $58.6m $79.5m —
Operating expenses:
Other Operating Expenses — — — ($47.5m) ($38.4m) ($24.0m) ($52.5m) —
Total operating expenses ($3.5b) ($6.2b) ($8.5b) ($6.9b) ($7.5b) ($8.8b) ($8.4b) $4.0b
Other Operating Income $13.2m $21.0m $3.6m $6.9m $5.4m $3.3m $7.5m —
Other Non Operating Income Expenses ($8.6m) ($5.6m) $7.1m $230.6m $130.3m $128.2m $109.2m —
Operating Income (Loss) $13.2m
($3.6b) -27435.73%
($595.7m) +83.52%
($23.5m) +96.06%
$140.5m +698.12%
$339.1m +141.35%
$592.9m +74.86%
$3.9b +566.17%
Interest Expense — $8.4m $6k $25k $0 $0 — $0
Interest Income, Other — $209.8m $36.8m $70.1m $160.8m $147.1m $136.4m $925.4m
Interest income $229.3m $209.8m $234.7m $483.7m $1.1b $1.1b $954.1m $925.4m
Investment income $0 $3.3m $28.3m $5.4m $55.6m $54.8m $94.7m —
Investment Income, Net — $3.3m $4.4m $785k $7.8m $7.5m $13.5m —
Foreign Currency Transaction Gain (Loss), before Tax — ($21.3m) ($2.4m) $2.2m ($303k) $1.1m ($2.5m) —
Gain On Sale Of Security — — — ($42.9m) $66.4m $41.9m $193.5m $154.1m
Gain (Loss) on Derivative Instruments, Net, Pretax — $18.1m $3.8m ($9.2m) $1.8m ($2.9m) $16.6m —
Other income (expense):
Income (Loss) from Equity Method Investments — ($11.1m) ($1.8m) ($181k) ($291k) ($392k) ($2.1m) —
Other income, net ($8.6m) ($5.6m) $7.1m $230.6m $130.3m $128.2m $109.2m $240.9m
Share of loss in equity method investees ($1.7m) ($11.1m) ($11.3m) ($1.2m) ($2.1m) ($2.9m) ($14.8m) —
Other Nonoperating Income (Expense) — ($5.6m) $1.1m $33.4m $18.3m $17.6m $15.6m —
Interest Expense (non-operating) — — $40k $175k $0 $0 — $0
Total other income ($535.7m) $163.0m $155.6m $669.9m $1.3b $887.9m $1.2b —
Nonoperating Income (Expense) — $163.0m $24.4m $97.1m $188.2m $121.6m $177.6m —
Income (Loss) from Continuing Operations before Income Taxes, Domestic — $145.6m $57.0m $1.0b $1.8b $2.9b $4.6b $5.1b
Net income before income tax ($1.6b) ($3.5b) ($3.6b) $507.9m $2.3b $3.4b $5.4b —
Pre-Tax Income ($1.6b) ($3.5b) ($3.6b) $507.9m $2.3b $3.4b $5.4b $5.1b
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest — ($3.5b) ($571.2m) $73.6m $328.7m $460.7m $770.5m $5.1b
Current Income Tax Expense (Benefit) — $31.8m $27.0m $131.2m $227.4m $196.2m $1.1b $941.8m
Income tax expense $14.7m ($19.3m) ($14.2m) ($96.0m) ($106.8m) ($239.4m) ($929.2m) $941.8m
Income Tax Expense (Benefit) — $19.3m $2.2m $13.9m $15.0m $32.8m $132.9m $941.8m
Less: net loss attributable to non-controlling interests ($7k) ($8k) ($80k) $539k ($1.3m) ($3.5m) ($27.5m) —
Net Income From Continuing And Discontinued Operation — — — $406.8m $2.2b $3.1b $4.4b $4.1b
Net Income Continuous Operations ($1.5b) ($3.5b) ($3.7b) $411.9m $2.2b $3.1b $4.5b $4.2b
Net Income Discontinuous Operations — — $0 $0 — — — $0
Net Income (Loss) Available to Common Stockholders, Basic ($1.5b)
($3.6b) -135.65%
($654.8m) +81.76%
$59.0m +109.01%
$311.7m +428.50%
$420.6m +34.94%
$630.4m +49.88%
$4.1b +555.26%
Net Income (Loss) Attributable to Noncontrolling Interest — ($8k) ($13k) $78k ($176k) ($486k) ($3.9m) $4.1b
Income (Loss) from Continuing Operations, Per Basic Share — — — $0 — — — —
Income (Loss) from Continuing Operations, Per Diluted Share — — — $0 — — — —
Earnings Per Share, Basic ($0.46) ($1.05) ($0.31) $0.00 $0.01 $0.02 $0.03 $4.00
Earnings Per Share, Diluted ($0.46) ($1.05) ($0.31) $0.00 $0.01 $0.02 $0.03 $4.00
Weighted Average Number of Shares Outstanding, Basic 3.3b 3.4b 13.4b 21.5b 21.1b 20.8b 20.8b 1.0b
Basic Average Shares — — — $1.1b $1.1b $1.0b $1.0b $1.0b
Diluted Average Shares — — — $1.1b $1.1b $1.0b $1.0b $1.0b
Weighted Average Number of Shares Outstanding, Diluted 3.3b 3.4b 13.4b 21.6b 21.2b 20.9b 20.9b 1.0b
Additional Financial Items
Provision for credit solutions — — ($97.7m) ($194.3m) ($234.6m) ($296.5m) ($445.4m) —
Foreign exchange (loss) gain ($4.4m) ($21.3m) ($15.5m) $15.0m ($2.1m) $8.0m ($17.3m) —
Unrealized gains (losses) from fair value changes of investments $0 $18.1m $24.0m ($63.4m) $12.9m ($20.9m) $116.2m —
Impairment loss ($710.3m) ($22.0m) ($111.6m) $0 $0 ($352.7m) $0 —
Less: measurement adjustment attributable to redeemable non-controlling interests — — — $4.6m $15.5m $57.1m $78.4m —
Foreign currency translation adjustments, net of tax of nil $89.4m ($498.2m) ($533.7m) $2.0b $386.7m $325.5m ($484.4m) —
Unrealized gains (losses) on available-for-sale investments, net of reclassification — — — $0 $0 $599k ($599k) —
Less: comprehensive loss attributable to non-controlling interests ($7k) ($8k) ($80k) $539k ($1.3m) ($3.5m) ($27.5m) —
Foreign Currency Translation Adjustments To Non Controlling Interests — — — — $0 $0 ($3.2m) —
Comprehensive income attributable to Full Truck Alliance Co. Ltd. — ($4.0b) ($4.2b) $2.4b $2.6b $3.4b $3.9b —
Comprehensive income attributable to ordinary shareholders ($1.4b) ($4.1b) ($4.7b) $2.4b $2.6b $3.4b $3.9b —
Average Dilution Earnings — — — $0 ($23k) ($206k) ($530k) ($530k)
Diluted EPS — — — $0.40 $2.00 $3.00 $4.20 $4.00
Diluted NI Availto Com Stockholders — — — $406.8m $2.2b $3.1b $4.4b $4.1b
Earnings From Equity Interest ($1.7m) ($11.1m) ($11.3m) ($1.2m) ($2.1m) ($2.9m) ($14.8m) ($19.4m)
Minority Interests — — — ($5.1m) ($14.2m) ($53.6m) ($50.9m) ($43.7m)
Normalized EBITDA — — — $639.4m $1.0b $2.9b $4.1b $3.9b
Normalized Income — — — $441.6m $2.1b $3.4b $4.2b $4.0b
Other Gand A — — — $1.4b $937.7m $913.8m $709.8m —
Provision For Doubtful Accounts — — — $194.3m $234.6m $296.5m $445.4m $507.1m
Reconciled Depreciation — — — $88.3m $74.7m $77.9m $100.0m $100.0m
Selling General And Administration — — — $2.3b $2.2b $2.5b $2.5b —
Special Income Charges ($710.3m) ($22.0m) ($111.6m) $0 $0 ($352.7m) $0 ($352.7m)
Tax Effect Of Unusual Items — — — ($8.1m) $3.0m ($22.1m) $33.4m $28.4m
Tax Provision — — — $96.0m $106.8m $239.4m $929.2m $941.8m
Tax Rate For Calcs — — — $0 $0 $0 $0 $0
Write Off — — — $0 $0 $352.7m $0 $352.7m
Costs and Expenses — $6.2b $1.3b $1.0b $1.1b $1.2b $1.2b —
Operating Expense — — — $3.4b $3.3b $3.7b $3.7b $4.0b
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — ($3.5b) ($573.5m) $59.7m — — — —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — $452k $0 $0 — — — —
Total comprehensive income ($1.4b) ($4.0b) ($4.2b) $2.4b $2.6b $3.4b $4.0b —
Total Unusual Items — — — ($42.9m) $66.4m ($310.9m) $193.5m $154.1m
Total Expenses — — — $6.9b $7.4b $8.8b $8.3b $8.7b

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.