Quarterly ResultApr 28, 2026, 07:02 AM
KNDI FY25 Gross Margin 42.6%; Cash $211.9M; Strategic Partnerships
AI Summary
Kandi Technologies Group, Inc. announced its full year 2025 financial results, reporting total net revenues of $87.4 million, a 31.5% decrease year-over-year, and a net loss of $95.6 million, up from $51.0 million in 2024. Despite the revenue decline, gross margin expanded significantly to 42.6% from 30.8%, and the company maintained a strong financial position with $211.9 million in cash and generated $96.8 million in net cash from operating activities. Kandi also initiated a strategic transformation, forming a joint venture, KH Robotics, with HawkRobo Systems for autonomous security robots in North America, and its subsidiary, China Battery Exchange, became a strategic supplier for CATL's heavy-truck battery swap stations.
Key Highlights
- Kandi's subsidiary, China Battery Exchange, partnered with CATL subsidiary for heavy-truck battery swap stations.
- Formed KH Robotics, a joint venture with HawkRobo Systems, for autonomous security robots in North America.
- FY2025 total net revenues were $87.4M, a 31.5% decrease from $127.6M in 2024.
- Gross margin expanded to 42.6% in FY2025, up from 30.8% in 2024.
- Net loss was $95.6M in FY2025, compared to $51.0M in 2024.
- Ended FY2025 with $211.9M in cash, restricted cash, and certificates of deposit.
- Net cash provided by operating activities was $96.8M, compared to $17.8M used in 2024.
- Research and development expenses increased 52.6% to $7.6M in FY2025.