Hesai reports stronger financial performance with revenue up 34.3%
Key points
- Hesai Group reported third-quarter 2026 revenue of RMB1.068 billion, up 34.3% year-over-year, while lidar shipments increased 65.3% to 729,673 units.
- Net income fell 68.5% to RMB80.8 million, partly reflecting a prior-year comparison that included RMB185.1 million in one-time income.
- Hesai reaffirmed its 2026 Strategic Growth Initiatives revenue guidance of RMB200 million–RMB300 million, as nine-month revenue already exceeded its original full-year target of RMB100 million.
Hesai Group (NASDAQ:HSAI) reported third-quarter 2026 revenue of RMB1,068.3 million, up 34.3% year-over-year, while net income declined 68.5% to RMB80.8 million.
Lidar shipments increased 65.3% to 729,673 units, while robotic actuation module shipments rose 96.8% sequentially to 23,405 units, reflecting growth across its product businesses.
The earnings comparison was affected by RMB185.1 million in one-time income recorded in the prior-year quarter, while operating income fell 19.1% to RMB62.6 million and gross margin narrowed to 41.0% from 42.1%.
The lidar segment generated RMB145.5 million in operating income, up 88%, while Strategic Growth Initiatives (SGI) contributed RMB90.5 million in quarterly revenue, with nine-month revenue already exceeding the original RMB100 million full-year target.
The company reported that ET-series design wins represent an order book exceeding 1 million units, while its newly launched Kosmo platform has begun generating revenue.
Hesai reaffirmed its 2026 SGI revenue guidance of RMB200 million–RMB300 million as it expands its lidar, robotics and other growth initiatives.
