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Visual24 Oct 2025
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Hesai Group (HSAI) investor relations material
Hesai Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary15 Aug, 2025
Executive summary
Net revenues for Q2 2025 reached RMB706.4 million ($98.6 million), up 53.9% year-over-year, with net income of RMB44.1 million ($6.2 million) versus a net loss in Q2 2024.
Lidar shipments surged to 352,095 units in Q2 2025, a 306.9% increase year-over-year, driven by strong ADAS and Robotics demand.
Achieved significant ADAS design wins, including with Toyota and a top European OEM, and led the drafting of China's first national automotive lidar standard.
Robotics business ranked No.1 in China for lidar shipments in H1 2025, with JT series surpassing 100,000 units in cumulative deliveries.
Financial highlights
Product revenues rose 71.1% year-over-year to RMB699.4 million, while service revenues declined 86.1% due to lower non-recurring engineering services.
Gross margin was 42.5% in Q2 2025, down from 45.1% in Q2 2024, mainly due to a shift in revenue mix.
Operating income reached RMB22.9 million, compared to a loss of RMB95.8 million a year ago; non-GAAP operating income was RMB52.1 million.
Net income was RMB44.1 million, reversing a net loss of RMB72.1 million in Q2 2024; non-GAAP net income was RMB73.3 million.
Basic and diluted EPS were RMB0.33 and RMB0.32, respectively; non-GAAP basic and diluted EPS were RMB0.55 and RMB0.53.
Outlook and guidance
Management expects continued growth, citing robust order book from new ADAS design wins and mass-market adoption of lidar.
Full-scale production and commercial launch with a top European OEM and Toyota targeted for 2026.
How did service revenues change in Q2 2025?
What drove the gross margin decrease in Q2 2025?
What is the status of Hesai's cash position?
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Next Hesai Group earnings date
Q3 202511 Nov, 2025
Next Hesai Group earnings date
Q3 202511 Nov, 2025
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Frequently asked questions
Hesai Group (Hesai Technology) offers three-dimensional light detection and ranging (LiDAR) solutions. The Company’s LiDAR products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's also provides robotics applications technology such as last-mile delivery robots and logistics robots in restricted areas. The Company’s commercially validated solutions are backed by research and development capabilities across optics, mechanics, electronics, and software. Hesai integrates LiDAR designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability.
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