Hesai Group Reports First Quarter 2025 Unaudited Financial Results

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Quarterly net revenues were RMB525.3 million (US$72.4 million)1
Quarterly lidar shipments were 195,818 units

SHANGHAI, China, May 26, 2025 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended March 31, 2025.

Management Remarks

“Hesai was ranked as the world’s No.1 automotive lidar company by revenue market share for the fourth consecutive year in 2024, according to Yole Group—affirming our industry leadership. 2025 is off to a strong start, and we are ready to build on this momentum,” said Yifan “David” Li, Hesai’s Co-Founder and CEO. “At the 2025 Shanghai Auto Show, one thing was clear—OEMs are all-in on intelligent driving. Our three core beliefs for lidar echo this vision—safety is not optional, never second-best, and without limits. Our ADAS lidar brings these values to life and continues to secure major design wins with new deals signed recently with Chery, Great Wall Motor, Zeekr, and Geely. Internationally, we’ve made rapid progress by securing a new development project with a Top 5 global Tier 1 supplier headquartered in Japan. We also empowered the Robotaxi industry as the main lidar supplier for next-generation fleets from Baidu Apollo Go, DiDi, Pony.ai, and WeRide, while supporting the global expansion of some partners into key overseas markets. Beyond transportation, we believe every robot needs lidar as a foundational 3D sensor. Our JT series has emerged as a key enabler in this space, attracting strong interest from a wide range of Robotics customers. With accelerating adoption and expanding opportunities across the ADAS and Robotics segments, we are confident in our ability to scale our reach and unlock even greater growth in the quarters to come.”

“In the first quarter of 2025, we delivered strong financial and operational results, with net revenues growing nearly 50% year-over-year,” said Mr. Andrew Fan, Hesai’s CFO. “We shipped close to 200,000 lidar units—more than triple the volume from the same period last year. Notably, we significantly narrowed our net loss by 84% year-over-year to RMB17.5 million (US$2.4 million), while remaining Non-GAAP2 profitable for the quarter—a result that exceeded our earlier guidance and stands out given that the first quarter is typically a seasonally slower period.”

“With a solid foundation in place and accelerating demand across both ADAS and Robotics, we are well positioned to maintain growth momentum and remain on track to hit our full-year profitability target, despite a dynamic tariff environment.”