Hesai Group Reports Third Quarter 2026 Unaudited Financial Results
Key Highlights
- ➤Q3 revenue RMB1,068.3 million, up 34.3% year over year
- ➤Q3 lidar shipments 729,673 units, up 65.3% year over year
- ➤Q3 net income RMB80.8 million, down 68.5% year over year
- ➤Q4 revenue guidance RMB1,100 million to RMB1,150 million
- ➤2026 SGI revenue guidance reaffirmed at RMB200 million to RMB300 million
Expert Statements
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“The third quarter of 2026 marked another step in Hesai’s evolution into a full-stack infrastructure platform for Robotics and Physical AI”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Our lidar business remains a scaled, profitable cash engine, with growth fueled by premium ET-series lidar wins with five leading global OEMs, including a top European automaker and Cadillac; rising adoption of multi-lidar configurations in China and overseas; and new programs with Wuling and Chery that expand lidar into high-volume mass-market vehicles and export markets.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Meanwhile, in robotics, Hesai ranked No.1 globally in the 2025 robotaxi lidar market with a 62% share, according to Yole Group.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“We also partnered with JD.com, China’s largest retailer by revenues, leveraging our 6D full-color lidar and advanced perception capabilities to support its ambition to build the world’s largest robotics fleet.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Our Strategic Growth Initiatives (SGI) are rapidly taking shape as Hesai’s next growth engine, unlocking new opportunities across the data and hardware infrastructure layers of Robotics and Physical AI.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Launched globally in October, Kosmo, our 3D world data engine, transforms real-world environments into high-fidelity, editable, AI-ready 3D assets.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Within just months of demo shipments, this category-defining innovation has already begun generating revenues and securing real-world deployments with best-in-class global players, including Pixar’s RenderMan.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Commercial traction spans robotics training, film and entertainment, cultural heritage, spatial navigation, and beyond.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“Our robotic actuation modules—the robotic motion engine—also ramped up in volume sharply, with full-body modules joining robotic hands in mass production and Q3 shipments surging 97% sequentially to 23,405 units.”
Yifan “David” Li, Co-Founder and CEO of Hesai Group
“We’re just getting started in Physical AI.”
Andrew Fan, CFO of Hesai Group
“The third quarter of 2026 marked further progress in our growth strategy, as our core lidar business continued to scale profitably and SGI gained commercial momentum.”
Andrew Fan, CFO of Hesai Group
“Third-quarter net revenues grew approximately 34% year-over-year to RMB1,068 million, supported by quarterly shipments of 729,673 lidar units and 23,405 robotic actuation modules, despite headwinds in the broader automotive market.”
Andrew Fan, CFO of Hesai Group
“SGI is scaling ahead of plan, with revenues for the first nine months already surpassing our original full-year target of RMB100 million.”
Andrew Fan, CFO of Hesai Group
“Robotic actuation modules, which typically account for over 50% of a humanoid’s bill of materials, are ramping up rapidly, with cumulative shipments reaching 35,295 units by Q3 quarter-end.”
Andrew Fan, CFO of Hesai Group
“Together with the new revenue stream from Kosmo, this supports our reaffirmed 2026 SGI revenue guidance of RMB200 million to RMB300 million.”
Andrew Fan, CFO of Hesai Group
“As we gain further customer validation, we are stepping up investment in SGI while maintaining financial discipline.”
Andrew Fan, CFO of Hesai Group
“We delivered net income of RMB81 million and our sixth consecutive quarter of GAAP profitability.”
Andrew Fan, CFO of Hesai Group
“Our core lidar business, in particular, reported income from operations of RMB145 million in the third quarter, up 88% year-over-year.”
Andrew Fan, CFO of Hesai Group
“Our ambition is clear: to become a leading infrastructure platform for the era of Robotics and Physical AI.”
Quarterly net revenues were RMB1,068.3 million (US$159.3 million)(1)
Quarterly robotic actuation module shipments were 23,405 units
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