Robotaxi GXR equipped with Hesai’s LiDAR On March 24, Hesai Technology released its financial results for the fourth quarter and full year of 2025. The company reported full-year revenue of RMB 3.028 billion ($432.9 million), up 45.8% year-on-year. Net profit reached RMB 436 million ($62.3 million), compared with a net loss of RMB 102 million ($14.8 million) in 2025, making Hesai the first lidar company globally to achieve full-year GAAP profitability. Hesai’s financial results for the full year of 2025 On a quarterly basis, fourth-quarter revenue came in at RMB 1.0005 billion ($143.1 million), up 39% year-on-year. Net profit for the quarter was RMB 153 million ($21.9 million), increasing 4.2% from a year earlier. For the full year, Hesai shipped 1,620,406 lidar units, up 222.9% year-on-year, including 1,381,133 ADAS lidar units and 239,273 robotics lidar units. Hesai’s LiDAR shipments in 2025 In the ADAS segment, Hesai has secured over 160 design wins across more than 40 automotive brands, covering all top 10 OEMs in China. New customers in the fourth quarter and recently include BAIC and FAW Bestune. The company has also secured multi-lidar design wins from Li Auto, Xiaomi and Changan, with mass production scheduled for 2026 to 2027. Hesai’s Lidar FTX Multi-lidar configurations typically involve three to six units per vehicle. Last week, Hesai also secured a design win with Niu Technologies for its next-generation electric two-wheelers, where Hesai’s FTX lidar will be deployed. On the ecosystem front, Hesai partnered with Southeast Asian mobility platform Grab in February, naming Grab its exclusive lidar distributor in the region to manage sales, customer support, and marketing. In March, Hesai was selected as a key lidar partner for NVIDIA’s DRIVE Hyperion 10 platform and joined the NVIDIA Halos AI system inspection lab. With order releases and scale effects accelerating, Hesai raised its 2026 lidar shipment guidance to between 3 million and 3.5 million units, up approximately 85% to 116%, and said it will soon launch “breakthrough new products.” Looking ahead to Q1 2026, the company expects net revenue to range between RMB 650 million ($93.0 million) and RMB 700 million ($100 million), representing year-on-year growth of about 24% to 33%.
