Full Truck Alliance (YMM) Operating Expenses (2020 - 2026)
Full Truck Alliance's (YMM) quarterly Operating Expenses came in at -$279.7 million in Q2 2026, up 4.9% year-over-year from -$266.7 million in Q2 2025, and down 3.83% quarter-over-quarter from -$269.4 million in Q1 2026.
Analysis
Full Truck Alliance (YMM) Operating Expenses (2020 - 2026) Analysis & Trends
Full Truck Alliance has disclosed Operating Expenses across 7 years of filings, most recently posting -$279.7 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 4.9% year-over-year to -$279.7 million; the TTM figure through Jun 2026 stood at -$1.2 billion (down 6.17% YoY), while the FY2025 annual figure was -$1.2 billion, changed 0.27% from the prior year.
- Operating Expenses came in at -$279.7 million for Q2 2026 at Full Truck Alliance, down from -$269.4 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of -$211.9 million in Q1 2025 to a low of -$362.9 million in Q3 2025.
- Average Operating Expenses over 5 years is -$279.1 million, with a median of -$278.6 million recorded in 2023.
- The largest YoY upside for Operating Expenses was 47.52% in 2022 against a maximum downside of 53.17% in 2022.
- Over 5 years, Operating Expenses stood at -$282.0 million in 2022, then retreated by 7.99% to -$304.5 million in 2023, then retreated by 5.48% to -$321.2 million in 2024, then grew by 3.49% to -$310.0 million in 2025, then increased by 9.77% to -$279.7 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were -$279.7 million in Q2 2026, -$269.4 million in Q1 2026, and -$310.0 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alibaba Group Holding | 262.96 Bn | 227.70 Bn | 15.11 Bn | -8.86 Bn |
| 2 | Booking Holdings | 145.23 Bn | 128.02 Bn | 4.98 Bn | 4.85 Bn |
| 3 | PDD Holdings | 117.02 Bn | 86.74 Bn | 9.45 Bn | -5.39 Bn |
| 4 | Airbnb | 107.34 Bn | 95.28 Bn | 2.98 Bn | 2.85 Bn |
| 5 | Mercadolibre | 100.30 Bn | 85.10 Bn | 4.16 Bn | 3.48 Bn |
| 6 | Ebay | 46.02 Bn | 42.71 Bn | 2.30 Bn | 1.63 Bn |
| 7 | Expedia | 34.12 Bn | 26.99 Bn | 3.91 Bn | 2.55 Bn |
| 8 | Maplebear | 11.90 Bn | 11.05 Bn | 751.00 Mn | 608.00 Mn |
| 9 | Full Truck Alliance | 8.08 Bn | 7.12 Bn | - | -279.73 Mn |
| 10 | Etsy | 7.07 Bn | 5.94 Bn | 484.05 Mn | 358.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -279.73 Mn |
| Mar 31, 2026 | -269.42 Mn |
| Dec 31, 2025 | -310.02 Mn |
| Sep 30, 2025 | -362.87 Mn |
| Jun 30, 2025 | -294.16 Mn |
| Mar 31, 2025 | -211.89 Mn |
| Dec 31, 2024 | -321.23 Mn |
| Sep 30, 2024 | -323.71 Mn |
| Jun 30, 2024 | -303.66 Mn |
| Mar 31, 2024 | -272.09 Mn |
| Dec 31, 2023 | -304.55 Mn |
| Sep 30, 2023 | -277.41 Mn |
| Jun 30, 2023 | -239.07 Mn |
| Mar 31, 2023 | -226.76 Mn |
| Dec 31, 2022 | -282.03 Mn |
| Sep 30, 2022 | -234.67 Mn |
| Jun 30, 2022 | -257.29 Mn |
| Mar 31, 2022 | -253.23 Mn |
| Dec 31, 2021 | -438.11 Mn |
| Sep 30, 2021 | -224.51 Mn |