XPeng reported second-quarter revenue of 19.74 billion yuan ($2.91 billion), up 8% year over year and 51.5% from the previous quarter but below the $2.95 billion analyst consensus. Deliveries were essentially flat at 103,295 vehicles, while gross margin improved to 20.7% from 17.3%. The company posted an adjusted loss of 1.29 yuan per American depositary share, wider than the 0.76 yuan consensus, and forecast third-quarter revenue of 21.70 billion yuan to 23.40 billion yuan, below the 25.88 billion yuan analyst estimate. XPeng also disclosed that its robotics unit raised more than $900 million at a post-money valuation above $6.3 billion, with the company retaining control and targeting mass production of its next-generation IRON humanoid robot by the end of 2026.