Hesai Group (NASDAQ: HSAI) Q1 2025 Earnings Call | 05/27/2025

7 days ago

1:08:25

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Earnings Calls

AI Summary

Key Highlights:

Strong Start to 2025: HerSciGroup reported a strong first quarter, driven by growth in the ADAS and robotics segments.
LiDAR Shipments Surge: Shipments more than tripled year-over-year, reaching nearly 200,000 units.
Revenue Growth: Net revenue increased by almost 50% year-over-year.
Reduced Net Loss: Net loss decreased significantly by 84% year-over-year.
Market Leadership: HerSciGroup was ranked the number one global leader in the automotive LiDAR market by YO Intelligence for the fourth consecutive year.
ADAS Momentum: The company highlighted the accelerating adoption of LiDAR in the ADAS market, with its ATX LiDAR gaining significant traction.
Robotics Growth: HerSciGroup is also a leading LiDAR supplier for the growing robo-taxi market.
New Products: The company launched its Infinity-i LiDAR solution and next-generation automotive-grade LiDAR sensors.
Legal Victory: The U.S. District Court for the District of Delaware dismissed Alster's patent infringement case against HerSciGroup.
Q2 Outlook: The company expects continued growth in Q2, with net revenues between RMB 680 million and RMB 720 million.
Profitability Targets: HerSciGroup is on track to reach its full-year profitability targets.
Overseas Expansion: The company is expanding its manufacturing plans to Southeast Asia.
Tariff Impact: The company is managing the impact of tariffs through pricing strategies and cost control.

Key Products and Technologies:

ATX LiDAR: An affordable, ultra-compact LiDAR driving the democratization of intelligent driving.
ATL LiDAR: A specialized variant of ATX.
Infinity-i: A game-changing LiDAR solution with configurations for different levels of autonomy.
AT1440: An ultra-high definition main LiDAR.
ETX: A long-range automotive LiDAR.
FTX LIDARs: Solid state lidars acting as a blind spot detector.
JT LiDAR: Used in robotic lawnmowers and other robotic applications.

Financial Performance:

Q1 2025 revenue: RMB 525.3 million (US dollar 72.4 million)
Q1 2025 shipments: Nearly 200,000 units
Q1 2025 gross margin: 42%
Q2 2025 revenue forecast: RMB 680 million - RMB 720 million (USD 93.7 million - USD 99.2 million)
Q2 2025 shipment forecast: Over 300,000 units

About this video

Hesai Group (NASDAQ: HSAI) reported its Q1 2025 results on May 27, 2025, delivering robust growth and continued operational improvement. Net revenues for the quarter reached RMB525.3 million (US$72.4 million), up 46.3% year-over-year, driven by surging demand for its LiDAR solutions in both the ADAS and robotics sectors. The company shipped 195,818 LiDAR units in Q1, marking a 231.3% increase from the prior year, with ADAS product deliveries accounting for 146,087 units (up 178.5% YoY) and robotics LiDAR shipments soaring 649.1% to 49,731 units. Gross margin expanded to 41.7%, up from 38.8% in Q1 2024, reflecting effective cost management and scale efficiencies. Hesai significantly narrowed its GAAP net loss by 83.6% year-over-year to RMB17.5 million (US$2.4 million), while achieving non-GAAP profitability with net income of RMB8.6 million (US$1.2 million) for the quarter. Operating expenses were well managed, with R&D and general administrative expenses both declining year-over-year, and sales and marketing expenses rising modestly to support growth initiatives. The company’s ATX LiDAR platform saw large-scale mass production in Q1, with nearly 40,000 units delivered, and has now been selected for volume production by 12 global and Chinese OEMs. Hesai also secured new partnerships with major automakers like Chery, Great Wall Motor, Zeekr, and Geely, and expanded its international footprint through validation projects with top Tier 1 suppliers in Japan and Europe. In the robotaxi segment, Hesai remains the leading LiDAR supplier for next-generation fleets from Baidu Apollo Go, DiDi, Pony.ai, and WeRide. Cash and cash equivalents, including restricted cash and short-term investments, stood at RMB2,860.7 million (US$394.2 million) as of March 31, 2025, supporting ongoing R&D and global expansion. For Q2 2025, Hesai projects net revenues of RMB680–720 million (US$93.7–99.2 million), representing a year-over-year increase of approximately 48% to 57%, and expects to ship over 300,000 LiDAR units. Outlook: Q2 2025: Revenue guidance of RMB680–720 million; over 300,000 LiDAR units expected to ship. FY2025: Full-year revenue projected to grow 44–69% year-over-year, with continued profitability focus and international expansion. Strategic priorities include scaling ADAS and robotics LiDAR shipments, deepening OEM partnerships, and mitigating tariff and geopolitical risks. About Inside Ticker: For more expert analysis and real-time updates on Hesai Group (NASDAQ: HSAI) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #HesaiGroup #HSAI #EarningsCall #Q12025 #LiDAR #ADAS #Robotics #RevenueGrowth #Profitability #StockMarket #InsideTicker

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