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Hesai's first-quarter financial disclosure triggered increased retail chatter on Monday after the lidar technology company reduced its net loss to RMB 17.5 million (US$2.4 million) in the first quarter (Q1), an 84% improvement from the prior year.
The firm posted earnings per share of RMB 0.06, compared with a loss of RMB 0.54 in the same period last year.
Hesai's net revenue during Q1 was RMB 525.3 million, a nearly 50% increase over the previous year.
The stock closed at $21.45 on Friday, down 0.83% or $0.18 for the day.
The company shipped close to 200,000 lidar units during the quarter, more than triple the volume from Q1 2024.
Despite the seasonally slower period, Hesai remained profitable on a non-GAAP basis, exceeding earlier guidance.
Hesai secured multiple ADAS design wins with 23 global OEMs across more than 120 vehicle models, including recent deals with Chery, Great Wall Motor, Zeekr, and Geely.
The company also announced a new development project with a top-five global Tier 1 supplier in Japan and continued advancing proof-of-concept programs in Europe and Japan.
In robotics, Hesai’s JT series lidar attracted interest from a broad customer base, and the company remains the leading lidar supplier for robotaxi fleets from Baidu Apollo Go, DiDi, Pony.ai, and WeRide.
Hesai also confirmed the dismissal of all outstanding intellectual property litigation, including a patent infringement case filed by Ouster, a fellow lidar company, in U.S. courts and the International Trade Commission, with no financial settlements or injunctive relief imposed.
CFO Andrew Fan said the company remains on track to meet full-year profitability targets despite a challenging tariff environment.
On Stocktwits, retail sentiment was ‘extremely bullish’ amid ‘extremely high’ message volume.
The stock has risen 33% so far in 2025.
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