Quarterly ResultMay 19, 2026, 04:07 PM
Hesai Group Q1 Net Income $2.7M; Revenue $98.7M; Lidar Shipments +141%
AI Summary
Hesai Group reported strong first-quarter 2026 financial results, with net income reaching $2.7 million and net revenues increasing 29.6% year-over-year to $98.7 million. Total lidar shipments surged 140.9% to 471,723 units, driven by robust demand in both ADAS and Robotics segments. The company announced a strategic partnership with Mercedes-Benz for L3 autonomy models and unveiled Picasso, the world's first 6D full-color ultra-sensitive lidar SPAD-SoC, alongside Kosmo, a new spatial intelligence device under its Strategic Growth Initiatives. Hesai also provided a positive outlook for Q2 2026, expecting net revenues between $123 million and $130 million.
Key Highlights
- Q1 2026 net revenues increased 29.6% year-over-year to RMB680.6 million ($98.7 million).
- Q1 2026 net income was RMB18.3 million ($2.7 million), compared to a net loss of RMB17.5 million in Q1 2025.
- Total lidar shipments in Q1 2026 grew 140.9% year-over-year to 471,723 units.
- Hesai was announced as a strategic lidar partner and confirmed supplier for Mercedes-Benz L3 autonomy models.
- Introduced Picasso, the world's first 6D full-color ultra-sensitive lidar SPAD-SoC, for debut in ETX lidar.
- Unveiled Kosmo, a spatial intelligence device, as the first product under Strategic Growth Initiatives (SGI).
- Q2 2026 net revenue guidance is RMB850 million to RMB900 million ($123 million to $130 million).
- Lidar business generated an operating profit of RMB41.9 million in Q1 2026.
Price Impact
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