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ECARX Holdings (ECX) investor relations material
ECARX Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Achieved first-ever quarterly net profit of $0.9 million in Q3 2025, reversing a $47.2 million loss from the same quarter last year, with EBITDA breakeven at $8.3 million.
Revenue rose 11% year-over-year and 41% sequentially to $219.9 million, driven by strong demand, new product launches, and record Antora platform shipments.
Shipments reached 667,000 units, up 51% year-over-year, with Antora series shipments at a record 196,000 units.
Expanded global project pipeline and partnerships, securing new contracts with major automakers in China and Europe, and cumulative vehicles equipped with company technology reached 10 million.
Serving 18 OEMs across 28 vehicle brands, with a major presence on three continents and ongoing international expansion.
Financial highlights
Q3 2025 revenue was $219.9 million, up 11% year-over-year.
Gross profit increased 39% year-over-year to $48 million, with gross margin improving to 22% from 17% last year.
Operating expenses decreased 42% year-over-year to $44 million, with R&D expenses down 46% to $25.9 million and SG&A down 37% to $18.4 million.
Adjusted EBITDA for Q3 was $8.3 million, a turnaround from a $32 million loss last year.
Cash and restricted cash at quarter end: $50 million; cash and short-term investments totaled $286.8 million as of September 30, 2025.
Outlook and guidance
Expecting Q4 to be a peak season with both volume and revenue reaching historical highs.
Double-digit revenue growth targeted for 2025 and beyond, with profitability momentum expected to continue into 2026.
Overseas revenue targeted to reach 30% by 2028 and 50% by 2030.
Management expects improved comparability to peers due to the change in reporting currency to USD.
Additional capital from up to $150 million in convertible notes will support international expansion and product innovation.
Strategy for 50% overseas revenue by 2030
Flash-based LiDAR product development update
Impact of 50% GAS certification time reduction
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Next ECARX Holdings earnings date
Q4 20252 Mar, 2026
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Frequently asked questions
ECARX Holdings Inc. is a prominent developer of a automotive computing platform aimed at transforming the global mobility market. The company specializes in creating key products such as infotainment head units, digital cockpits, and vehicle chipset solutions. Additionally, ECARX offers a core operating system and an integrated software stack. The company is headquartered in London, United Kingdom, and its shares are listed on the Nasdaq.
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