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Horizon Robotics (9660) investor relations material
Horizon Robotics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 67.6% year-over-year to RMB1,566.8 million for the first half of 2025, driven by surging demand for intelligent driving solutions and a doubling of shipment volumes.
Maintained leadership in the ADAS market with a 45.8% share and 32.4% in intelligent driving computing solutions among Chinese brands.
Expanded international presence with design-wins from two Japanese OEMs and nominations from nine joint venture automakers in China.
Cumulative shipments of Journey series hardware surpassed 10 million units in August 2025.
Net loss for the period was RMB5,233.0 million, slightly higher than the prior year.
Financial highlights
Total revenue reached RMB1.57 billion, up 67.6% year-over-year for the first half of 2025.
Automotive product solutions revenue surged 250% to RMB777.8 million, driven by shipment volume more than doubling.
IP licensing and service revenue increased 6.9% year-over-year to RMB738.5 million.
Gross profit margin was 65.4%, with gross profit at RMB1,024.0 million.
R&D expenses rose 62% to RMB2,300.0 million, mainly from higher cloud service fees and labor costs.
Outlook and guidance
Confident in achieving around 4 million unit shipments for the full year, with mid to high-end solutions accounting for about half.
Anticipates millions of dollars in revenue from HSD solutions over the next two to three years as advanced features become standard.
Expects further ASP growth as mid and high-end products become mainstream and international expansion continues.
Plans to expand global partnerships, especially in the robotaxi sector, and continue investing in software and hardware innovation.
Expects to partner with robotaxi operators and provide technological infrastructure for L2 to L4 evolution.
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