Third-quarter results show the mid-engined plug-in hybrid lifting revenue and gross margin, with the open-top version due in 2027.
Aston Martin launched the Valhalla Spider on 28 October, alongside Q3 results in which 127 more Valhallas were delivered. Spider deliveries start in Q3 2027. Over nine months, revenue rose 38% to GBP 1,017m, gross margin reached 35% from 28%, and full-year guidance stays unchanged.
Aston Martin handed over a further 127 Valhallas in the third quarter, and on 28 October it announced the Valhalla Spider, an open-top version of its mid-engined plug-in hybrid. Deliveries of the Spider begin in the third quarter of 2027, and the company says its order book already runs into the fourth quarter of that year.
The Coupe is close to sold out. Aston Martin says nearly all the remaining cars are now ordered and due for delivery by the end of the first half of 2027. About 350 Coupes have been delivered so far this year, and full-year guidance still calls for around 500. Specials, the low-volume models led by the Valhalla, accounted for 352 deliveries in the first nine months against 20 a year earlier.
What the Valhalla did to the results
Revenue for the nine months rose 38% to GBP 1,017m, from GBP 740m, and Aston Martin credits the Valhalla Coupe. The same cars lifted the average selling price across the range by 25%. Gross profit climbed 71% to GBP 358m, and gross margin improved to 35% from 28%, helped by lower manufacturing costs and a smaller bill for software improvements than a year earlier. Total wholesale volumes rose 12% on the 3,352 cars of the same period in 2025.
Chief executive Adrian Hallmark said the year's figures show steady progress in the company's financial turnaround, with free cash outflow almost halved. The company is still loss-making: the adjusted loss before tax was GBP 283m, against GBP 237m a year earlier, as higher finance costs and depreciation tied to Specials offset the gain in gross profit.
| Nine months to 30 September | 2026 | 2025 |
|---|---|---|
| Revenue | GBP 1,017m | GBP 740m |
| Gross profit | GBP 358m | GBP 209m |
| Gross margin | 35% | 28% |
| Adjusted EBITDA | GBP 133m | GBP 8m |
| Free cash outflow | GBP 225m | GBP 415m |
The rest of the range
Core models did not share in the Valhalla boost. Third-quarter core wholesale volume fell 9% from the prior year, a result of the more balanced production cadence the company set from the second quarter, though at 1,270 units it was level with the quarter before. Core retail sales ran more than 20% ahead of wholesale for the nine months, and core average selling price rose 7% in the third quarter.
The company also pointed to the new DBX GT, which widens its SUV line-up, and to the Valen, launched in the third quarter and billed by Aston Martin as the most powerful front-engined production car in the world. Valen deliveries are expected from the second quarter of 2027.
Outlook
Guidance for 2026 is unchanged. Wholesale volumes should be similar to the 5,448 cars of 2025, and gross margin is expected to reach the high 30s per cent. Liquidity stood at GBP 322m on 30 September, after a new GBP 550m debt financing closed in July.
