How Full Truck Alliance’s Q3 Revenue Gains and Giga.AI Acquisition Set the Stage for Future Growth

Full Truck Alliance Co. Ltd. (NYSE:YMM) is one of the  best logistics‑tech stocks to buy now.

As of December 5, Full Truck Alliance Co. Ltd. (NYSE:YMM) enjoys highly favorable analyst sentiment, with around 85% of all analysts covering it assigning a Buy or equivalent rating. The stock has risen by a modest 6.5% year to date, but the consensus 1-year median price target of $14.57 reflects a 26% potential upside.

On November 17, Full Truck Alliance announced its Q3 results (ended September 30, 2025). The report shows total net revenues of RMB 3,358.2 million (about $471.7 million), a 10.8% increase year‑over‑year. Transaction‑service revenue, the company’s core growth engine, jumped 39.0% YoY to RMB 1,456.1 million. The platform also hit record usage: monthly active shippers reached 3.35 million (up 17.6% YoY) and fulfilled orders totaled 63.4 million (up 22.3% Year-over-Year).

How Full Truck Alliance’s Q3 Revenue Gains and Giga.AI Acquisition Set the Stage for Future Growth

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Despite the top‑line growth and strong user metrics, Full Truck Alliance reported a non‑GAAP adjusted net income per ADS (American Depositary Share) of RMB 0.93 (≈ US$0.13), which missed some market expectations. The company’s management attributed the quarter’s performance to continued efforts to improve efficiency, reduce costs, upgrade user‑protection mechanisms, and integrate technological enhancements, including the acquisition of a majority interest in Giga.AI Technology Limited, to strengthen AI capabilities and support long‑term platform growth.

Following the Q3 call, on November 19, Barclays reaffirmed a Hold rating on Full Truck Alliance and set a price target of $12.00 per share. That modest outlook reflects what Barclays described as “Q3 results broadly in line with estimates and a Q4 outlook that suggests growth in transaction‑service revenue is set to decelerate.”

Full Truck Alliance (NYSE:YMM) is a China‑based digital freight platform that connects shippers and truckers via a tech‑driven marketplace, offering freight‑matching services, transaction services, value‑added services like credit and logistics solutions, and leveraging AI and platform‑scale to coordinate transport and logistics across China.

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Disclosure: None.