Ecarx Holdings Inc. ( (ECX) ) has released its Q1 earnings. Here is a breakdown of the information Ecarx Holdings Inc. presented to its investors.
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ECARX Holdings Inc., a global automotive technology provider, specializes in delivering turnkey solutions for next-generation smart vehicles, including systems on a chip, central computing platforms, and software, with a presence in major markets worldwide.
In its first quarter of 2025, ECARX reported a 30% year-over-year increase in revenue, reaching RMB1,222.4 million, while significantly narrowing its operating loss by 30%. The company attributes this growth to its strategic execution and strong market position in the evolving automotive industry.
Key financial highlights include a 148% increase in software license revenue and a 49% rise in service revenue, driven by heightened demand and successful project completions. Despite a decrease in gross margin to 20%, the company improved its bottom line with a net loss reduction to RMB196.9 million, down from RMB304.0 million the previous year. Additionally, ECARX secured eight new project wins and expanded its global footprint, enhancing its technological offerings with innovations like the Antora® 1000 SPB and ECARXperience.
Looking ahead, ECARX is poised to capitalize on the automotive industry’s shift towards intelligent, software-defined vehicles, supported by its recent $45 million public offering aimed at accelerating global expansion and technological advancements.