{"id":964371,"date":"2026-05-19T04:33:05","date_gmt":"2026-05-19T08:33:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hesai-group-reports-first-quarter-2026-unaudited-financial-results\/"},"modified":"2026-05-19T04:33:05","modified_gmt":"2026-05-19T08:33:05","slug":"hesai-group-reports-first-quarter-2026-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hesai-group-reports-first-quarter-2026-unaudited-financial-results\/","title":{"rendered":"Hesai Group Reports First Quarter 2026 Unaudited Financial Results"},"content":{"rendered":"
\n

\n Quarterly net revenues were RMB680.6<\/em>
\n million (US$98.7 million)<\/em>
\n
\n 1<\/em>
\n <\/sup>\n <\/p>\n

\n Quarterly<\/em>
\n lidar<\/em>
\n shipments were<\/em>
\n 471,723 units<\/em>\n <\/p>\n

\n Quarterly net income was RMB18.3 million (US$2.7 million)<\/em>\n <\/p>\n

SHANGHAI, China, May 19, 2026 (GLOBE NEWSWIRE) — Hesai Group (\u201cHesai<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) (NASDAQ: HSAI; HKEX: 2525), a global tech company and a leader in 3D perception, today announced its unaudited financial results for the three months ended March 31, 2026.<\/p>\n

\n Management Remarks<\/strong>\n <\/p>\n

\u201cWe are incredibly honored and excited to announce that Hesai serves as strategic lidar partner and confirmed supplier for Mercedes-Benz models enabling L3 autonomy. Meanwhile, the first quarter of 2026 marked a transformative chapter for Hesai as we began our strategic evolution from \u2018Spatial Perception\u2019 to \u2018Spatial Intelligence.\u2019 We are no longer just a global leader in lidar; we are building the foundational infrastructure for the Physical AI frontier,\u201d said Dr. Yifan \u201cDavid\u201d Li, Hesai\u2019s Co-Founder and CEO. \u201cWe continue to solidify the leadership in our core lidar business during the quarter. According to Gasgoo, we have maintained the No.1 position in China\u2019s long-range automotive lidar market for 14 consecutive months, reaching 55% share in March 2026. Furthermore, our latest ASIC breakthrough, Picasso, represents a step-change for the industry. As the world\u2019s first 6D full-color ultra-sensitive lidar SPAD-SoC, it integrates RGB color information with precise XYZ spatial data at the chip level, fundamentally bridging the gap between lidars and cameras. This next-generation technology will debut in our high-end ETX lidar model, offering configurations of up to 4,320 channels, with SOP expected in the second half of 2026. We believe our in-house developed full-color 6D SPAD-SoC has the potential to enable a unified perception paradigm not only for vehicles, but for any application where cameras are used today.\u201d<\/p>\n

Dr. Li continued, \u201cHesai is a deep-tech company committed to pushing the boundaries of what is possible. Built on our core sensing and systems expertise, we are scaling from \u20181 to 10.\u2019 Beyond our lidar business, we are driving our next decade of growth through Strategic Growth Initiatives (SGI), spanning the \u2018eyes\u2019 and \u2018muscles\u2019 of Physical AI. Our ambition is to digitize the real world and redefine how humans and robots perceive and act. At our Tech Day in April 2026, we showcased our first product under SGI, Kosmo, an AI algorithm-integrated spatial intelligence device designed to build real-world 3D data infrastructure for the Physical AI era. More importantly, Kosmo represents the entry point to a scalable new business model, expected to unlock recurring revenue streams and trillion-RMB downstream opportunities across robotics simulation and training, immersive media, 4D entertainment, and beyond. We are extremely excited about the next chapter of Hesai as we build transformative businesses to empower the Physical AI revolution.\u201d<\/p>\n

\u201cWe kicked off 2026 with strong momentum, delivering another quarter of robust growth with year-over-year gains in scale and profitability,\u201d said Mr. Andrew Fan, Hesai\u2019s CFO. \u201cNet revenues reached RMB681 million, up 30% year-over-year. This was driven by total shipments of 471,723 lidar units for the first quarter, reflecting strong, broad-based demand across both ADAS and Robotics. Our lidar business generated a solid operating profit of approximately RMB42 million, contributing to overall GAAP net income of RMB18 million for the quarter. This marks our fourth consecutive quarter of GAAP profitability and sixth consecutive quarter of non-GAAP profitability.\u201d<\/p>\n

Mr. Fan added, \u201cTo enhance transparency and better reflect our strategic evolution, we have refined our reporting structure into two segments: \u2018Lidar Business\u2019 and \u2018Strategic Growth Initiatives.\u2019 This framework highlights the self-sustained profitability of our lidar business alongside the long-term upside of our new initiatives. Supported by early traction, we expect SGI to contribute approximately RMB100 million in net revenues this year, with contributions expected to start in the second quarter of 2026. Looking ahead, we expect our financial performance to strengthen progressively through 2026, driven by the continued expansion of our lidar business and the ramp-up of SGI.\u201d
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1 All translations from RMB to USD for the first quarter of 2026 were made at the exchange rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026, set forth in the H.10 statistical release of the Federal Reserve Board.\u00a0<\/p>\n