Hesai Technology Reports Q1 2025: Revenue Grows 46.3% YoY

Hesai Technology unveiled its Q1 2025 financial results today, showcasing significant growth in revenue and narrowing losses.

According to the report, Hesai generated RMB 530 million (73.74 million USD) in revenue for Q1 2025, marking a 46.3% year-over-year (YoY) increase. Net losses shrank by 84% to RMB 17.5 million (2.43 million USD) compared to the same period last year. Full-year revenue is projected to grow by 44% to 69% YoY.

The standout highlight lies in lidar’s shift from an optional feature to a standard safety component. Total lidar deliveries for the quarter reached 195,818 units, a 231.3% YoY surge (over three times last year’s volume).

• ADAS (Advanced Driver Assistance Systems) lidar deliveries hit 146,087 units (+178.5% YoY).
• Robotics lidar deliveries soared to 49,731 units (+649.1% YoY), with Hesai securing a 300,000-unit order for its JT-series lidar, even for robotic lawn mowers.

In China, Hesai expanded partnerships with:

• iCAR (Chery’s new energy brand) and ORA (Great Wall Motors’ NEV brand).
• Zeekr’s best-selling models and an upcoming Geely vehicle.
• Li Auto’s MEGA and L-series vehicles, which will standardize Hesai’s ATL all-weather lidar (a customized version of the ATX platform).

To date, Hesai’s ATX lidar has been selected as the standard for mass-production models by 12 global automakers, with nearly 40,000 units delivered this quarter. The company now has partnerships with 23 automakers across 120+ vehicle models.