Hesai Group reported Q2 2024 net revenues of RMB458.9 million ($63.1 million), up 4.2% YoY. Total lidar shipments increased 66.1% YoY to 86,526 units, with ADAS lidar shipments up 76.8% to 80,773 units. Gross margin improved to 45.1% from 29.8% in Q2 2023.Net loss narrowed to RMB72.1 million ($9.9 million), down 3.1% YoY. The company maintained a strong cash position of RMB2.75 billion ($378.8 million). Hesai secured new design wins with global OEMs and was selected as the exclusive long-range lidar supplier by China's top 5 robotaxi companies.For Q3 2024, Hesai expects revenues between RMB450-500 million ($61.9-68.8 million), representing 1.0-12.2% YoY growth. The company remains confident in its growth potential, driven by strong momentum in robotaxi and ADAS markets, and its position to capture both domestic and international opportunities.

Hesai Group reported Q2 2024 net revenues of RMB458.9 million ($63.1 million), up 4.2% YoY. Total lidar shipments increased 66.1% YoY to 86,526 units, with ADAS lidar shipments up 76.8% to 80,773 units. Gross margin improved to 45.1% from 29.8% in Q2 2023.Net loss narrowed to RMB72.1 million ($9.9 million), down 3.1% YoY. The company maintained a strong cash position of RMB2.75 billion ($378.8 million). Hesai secured new design wins with global OEMs and was selected as the exclusive long-range lidar supplier by China's top 5 robotaxi companies.For Q3 2024, Hesai expects revenues between RMB450-500 million ($61.9-68.8 million), representing 1.0-12.2% YoY growth. The company remains confident in its growth potential, driven by strong momentum in robotaxi and ADAS markets, and its position to capture both domestic and international opportunities.