Hesai Group Sponsored ADR (HSAI)
NASDAQ:HSAI
Earnings Data
Report Date
May 26, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
<0.01Last Year’s EPS
-0.02Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple notable achievements: record revenues (+46% YoY), industry‑first full‑year GAAP profitability (RMB 436 million), >1.6 million shipments (3x YoY), strong gross margins (>40%), large design wins and market share leadership, significant backlogs and strategic partnerships (NVIDIA, Grab), plus an upgraded 2026 shipment outlook (3.0–3.5 million units). Key near‑term cautions include expected blended ASP declines driven by product mix, reliance in part on investment gains when presenting GAAP results, a planned mid‑teen OpEx increase for new product R&D (RMB 200 million), no full‑year net income guidance, and seasonality affecting Q1 deliveries. On balance, the positive operational, financial and market‑share momentum appears to outweigh the manageable near‑term risks.Company Guidance
Record GAAP Profitability
Full-year GAAP net income of RMB 436 million (USD 62 million), the company stated as an industry first for a lidar company; GAAP profitability delivered for 3 consecutive quarters. Non-GAAP net income of RMB 551 million (USD 79 million). Positive operating cash flow of RMB 117 million (USD 17 million) and net assets of ~RMB 9 billion (USD 1.3 billion).
Strong Revenue and Shipment Growth
Record net revenues of over RMB 3 billion (USD 433 million), up 46% year-over-year. Total shipments exceeded 1.6 million units in 2025 — more than tripling year-over-year — including nearly 240,000 robotics lidar units.
Raised 2026 Shipment Outlook and Q1 Guidance
Management raised 2026 lidar shipment guidance to 3.0–3.5 million units. Q1 2026 revenue guidance RMB 650–700 million (USD 93–100 million), implying ~24%–33% year-over-year growth; Q1 shipment guidance 400,000–450,000 units (including ~100,000 robotics units).
Market Share Leadership and Design Wins
ATX contributed to a #1 position in 2025 with >40% share of the long-range automotive lidar market. Company secured 2,026 design wins, ADAS orders from every top-10 OEM in China, design wins with 40 automotive brands across 160+ vehicle models, and over 2 million cumulative ADAS lidars delivered.
Product Ramp, Backlog and Technology Roadmap
JT series entered mass production and shipped >200,000 units in its first year. Revamped ATX has an order backlog exceeding 6 million units with SOP expected April 2026. ETX ultra high-performance lidar (approx. 2x ATX range, proprietary SPAD) expected to begin SOP in 2026.
Strategic Partnerships and Global Expansion
Selected as the primary lidar partner for NVIDIA DRIVE Hyperion 10 and joined NVIDIA Halo AI Systems Inspection Lab; exclusive SEA distribution partnership with Grab. Achieved German VDA 6.3 process audit certification (only Asian lidar manufacturer cited). Exclusive multiyear design win with a top European OEM is progressing.
Robotics Market Leadership and Large Backlogs
Ranked #1 across multiple robotics lidar submarkets (humanoid/quadruped, robotaxis, robovans, robotic lawn mowers). Shipped ~240,000 robotics lidars in 2025 and expects robotics volume to at least double in 2026. Secured robotics lawn mower backlog >10 million units (including exclusive 10 million JT order to Dreame and MOVA).
Healthy Margins and Improved Cost Structure
Reported gross margin >40% for 2025. Operating expenses (ex. other operating income) decreased by RMB 88 million year-over-year despite substantial revenue growth, demonstrating operating leverage and cost discipline. Management expects group blended gross margin to remain resilient in 2026 due to scale and in‑house SoC (FMC500) cost improvements.
Balance Sheet and Capital Raise
Completed a successful USD 614 million dual primary listing in Hong Kong, strengthening the balance sheet and capacity to support long-term growth.
New Product Pipeline ("Eyes and Muscles")
Announced two new product lines targeting large TAMs (each described as trillion-RMB class). Initial revenue contributions expected as early as 2026, with management projecting these businesses could rival or surpass lidar within 5 years and scale substantially over a decade. RMB 200 million planned R&D investment for these products in 2026.
HSAI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HSAI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 24, 2026 | $23.58 | $20.24 | -14.16% |
Nov 11, 2025 | $23.06 | $20.78 | -9.89% |
Aug 14, 2025 | $23.32 | $25.59 | +9.73% |
Mar 10, 2025 | $16.01 | $24.08 | +50.41% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hesai Group Sponsored ADR (HSAI) report earnings?
Hesai Group Sponsored ADR (HSAI) is schdueled to report earning on May 26, 2026, After Close (Confirmed).
What is Hesai Group Sponsored ADR (HSAI) earnings time?
Hesai Group Sponsored ADR (HSAI) earnings time is at May 26, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HSAI EPS forecast?
HSAI EPS forecast for the fiscal quarter 2026 (Q1) is <0.01.