The earnings call highlighted VinFast's impressive growth in deliveries, international expansion, and strategic initiatives. However, challenges such as gross margin pressures, increased operating expenses, and ongoing net losses were also evident. The company remains optimistic about its 2025 outlook, driven by product innovation and market expansions.

Company Guidance -

Q2 2025

During VinFast's Q4 2024 and full-year earnings call, the company provided guidance for 2025, emphasizing a target to double the previous year's deliveries, with a strong focus on expanding market share in Vietnam and international markets, particularly in Asia. The company reported 97,399 EV deliveries in 2024, surpassing its 80,000 target, and projected further growth driven by new CKD plants in Asia, expected to add a capacity of up to 300,000 vehicles annually. VinFast also highlighted a 160% growth in showrooms, from 123 in December 2023 to 322 by March 2025. The guidance underscored an ongoing commitment to product innovation, with a focus on affordability and quality, aiming for a full-year EBITDA profitability while navigating macroeconomic uncertainties.

Exceeding Delivery Targets

VinFast achieved a total delivery of 97,399 EVs globally in 2024, surpassing the initial target of 80,000. Q4 2024 saw a significant increase with 53,139 vehicles delivered, marking a 143% quarter-over-quarter and 342% year-over-year growth.

International Expansion

International sales grew by 10x year-over-year, increasing from 3% to 10% of total deliveries. VinFast expanded its showroom presence significantly with a 160% growth in the number of showrooms as of March 2025.

Improved Gross Margin

Full-year gross margin excluding NRV and one-off accounting charges improved to -32% from -40% in 2023. Q4 2024 saw a decrease in average unit BOM and production costs for EVs by 16% and 43% respectively.

Strategic Partnerships and Ecosystem Development

VinFast launched new entities like GSM and V-Green to form a green mobility ecosystem. This ecosystem aims to overcome consumer skepticism by offering low-risk exposure to EVs before purchase.

Capital Support and Liquidity

VinFast strengthened its balance sheet with over $1.5 billion in disbursements from its founder and loans, with a liquidity position of approximately $3 billion as of March 2025.

VinFast Auto (VFS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VFS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 19, 2025	2025 (Q2)	-0.26 / -	-0.33	―	―	―
Jun 09, 2025	2025 (Q1)	- / -	-0.26	―	―
Apr 24, 2025	2024 (Q4)	-0.28 / -0.30	-0.26	-15.38% (-0.04)
Nov 26, 2024	2024 (Q3)	-0.27 / -0.23	-0.27	14.81% (+0.04)
Sep 20, 2024	2024 (Q2)	-0.21 / -0.33	-0.23	-43.48% (-0.10)
Apr 17, 2024	2024 (Q1)	-0.23 / -0.26	0.049	-630.61% (-0.31)
Feb 22, 2024	2023 (Q4)	-0.23 / -0.28	0.12	-333.33% (-0.40)	―
Oct 05, 2023	2023 (Q3)	- / -0.27	0.024	-1225.00% (-0.29)
Sep 21, 2023	2023 (Q2)	- / -0.23	0.064	-459.38% (-0.29)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VFS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 09, 2025	$3.42	$3.57	+4.39%
Apr 24, 2025	$3.23	$3.32	+2.79%
Nov 26, 2024	$3.93	$3.95	+0.51%
Sep 20, 2024	$3.96	$3.66	-7.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.