Investing.com -- On Monday, VinFast Auto Ltd. (NASDAQ: VFS) reported second quarter results that missed earnings expectations while exceeding revenue forecasts.

Shares of the Vietnamese electric vehicle maker edged down 1.6% in pre-market trading following the announcement.

The company posted an adjusted loss per share of -$0.53 for the quarter ended June 30, 2026, significantly wider than the analyst consensus estimate of -$0.27. Revenue reached $1.2 billion, surpassing the $1.06 billion analyst estimate and representing an 85.5% increase from $654 million in the second quarter of 2025.

The company delivered 70,085 EVs during the quarter, up 96% YoY, with international markets accounting for approximately 11% of total deliveries.

Gross margin deteriorated to negative 62.8% from negative 21.8% in the prior year period, primarily due to expenses related to an extended free charging program launched in February 2026 and revenue deferrals on certain vehicle sales. Operating loss widened to $1.16 billion from $388 million YoY, driven by higher research and development costs of $153.7 million and selling, general and administrative expenses of $208.7 million.

"VinFast entered the second half of 2026 with strong momentum across our core markets and continued progress in expanding our global platform," said CEO and Chairman Pham Nhat Quan Anh.

The company completed the acquisition of Ngoc Hoi Real Estate Investment Joint Stock Company for approximately $1.2 billion in the third quarter, funded through existing financial arrangements and a $793.5 million capital contribution from founder Pham Nhat Vuong. VinFast maintained its number-one position in Vietnam’s automotive market for 22 consecutive months with approximately 38% market share as of June 30.

VinFast reported cash and cash equivalents of $281 million as of June 30, 2026, with total available liquidity of $2.3 billion including undrawn credit lines and remaining grants. The company maintained its full-year 2026 guidance despite ongoing industry-wide semiconductor supply constraints.

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