Robosense Technology (2498) investor relations material

Executive summary

• Revenue for Q1 2026 reached RMB 458.8 million, up 39.9% year-over-year, with total LiDAR shipments of 333,300 units, a 204.1% increase year-over-year.

• Robotic LiDAR volume surged 1,458.8% year-over-year to 185,500 units, now 56.2% of total shipments.

• Net loss narrowed by 35.9% year-over-year to RMB 63.3 million, with adjusted net loss at RMB 43.9 million.

• Maintained leading global share in robotic LiDAR niches and expanded partnerships, including awards from Geely Auto Group.

• Strategic focus in 2026 is on market share expansion, especially in high-margin robotics LiDAR segments.

Financial highlights

• Gross margin declined to 21.7% in Q1 2026 from 23.5% in Q1 2025, mainly due to higher overhead from new product mass production and lower utilization rates.

• ASP fell 55% year-over-year in Q1, primarily due to product mix shift toward lower-priced lawnmower and blind spot LiDARs.

• Operating loss was RMB 76.6 million, improved from RMB 121.0 million in Q1 2025.

• Cash and equivalents stood at RMB 2.6 billion as of March 31, 2026.

• Adjusted net loss (non-IFRS): RMB 43.9 million, improved from RMB 90.7 million in Q1 2025.

Outlook and guidance

• Management expects gradual gross margin improvement as more product lines migrate to in-house chip solutions and cost structure is optimized.

• Full-year shipment guidance is for 2–3x growth, with robotics LiDAR segment expected to triple and ADAS segment to double.

• Company aims to achieve profitability for the full year 2026.

• ASP is expected to stabilize, with high-performance LiDARs potentially seeing slight upticks as industry transitions to higher beam counts.

• Confident long-term outlook driven by new vehicle model launches, robotics demand, and chip cost optimization.