ECARX Holdings (NASDAQ:ECX) achieved a historic financial turning point in the final months of 2025, reporting its first-ever quarterly net income as a public company alongside a surge in shipments for its flagship automotive computing platforms.
The London-based global mobility technology provider saw its full-year 2025 revenue climb 10% to $847.9 million, supported by a record-breaking fourth quarter where revenue hit $304.7 million.
Most notably, ECARX reported Q4 net income of $2.8 million and adjusted EBITDA of $21.6 million, marking two consecutive quarters of positive adjusted EBITDA and a significant shift toward sustainable profitability.
The company’s narrowing losses—improving 50% year-over-year to a net loss of $68.9 million—were driven by aggressive cost-optimization measures and scaling production.
Research and development expenses were slashed by 39% in the fourth quarter through the increased use of AI tools, while full-year SG&A expenses fell 14%.
Operational growth was spearheaded by the Antora® platform, which saw Digital Head Unit (DHU) shipments jump 150% to 647,000 units in 2025.
Shipments of the Venado® module also grew significantly, rising 52% to 13.8 million units.
This high-volume adoption, particularly within China’s competitive sub-200,000 CNY cockpit segment, has built a massive forward-looking pipeline, with the company's total order backlog now exceeding $2.5 billion.
ECARX’s internationalization strategy also gained traction, with overseas markets accounting for 28% of total 2025 revenue.