Robosense Technology (2498) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB327.8 million, down 9.2% year-over-year, mainly due to lower ADAS product sales.

• Gross profit rose 73.1% to RMB77.0 million, with gross margin improving to 23.5% from 12.3% year-over-year.

• Net loss narrowed by 24.4% to RMB98.8 million compared to Q1 2024.

• Significant product launches included the EM4 “thousand-beam” LiDAR, E1R, Airy, and the AC1 robotic vision product.

• Achieved mass production milestone of one million LiDAR units and expanded partnerships in automotive and robotics sectors.

Financial highlights

• Revenue: RMB327.8 million (down 9.2% year-over-year).

• Gross profit: RMB77.0 million (up 73.1% year-over-year); gross margin: 23.5%.

• Net loss: RMB98.8 million (improved from RMB130.7 million in Q1 2024).

• Adjusted net loss (non-IFRS): RMB90.7 million, slightly higher than RMB84.1 million in Q1 2024.

• R&D expenses: RMB144.9 million, down 2.5% year-over-year.

• Cash and cash equivalents: RMB3.2 billion as of March 31, 2025.

Outlook and guidance

• Overseas design wins expected to contribute revenue in Europe, North America, and Asia-Pacific over the next 1–3 years.

• Robotaxi and robotics sectors identified as key future growth drivers.

• Continued focus on innovation in AI algorithms and hardware, aiming for global leadership in robotic technology platforms.