Hesai’s Net Profit Reaches $36M in Q3, Hits Full-year GAAP Profitability Target Ahead of Schedule

Hesai raised its full-year net profit guidance to RMB 350 million–450 million ($49 million–$63 million) after hitting its GAAP profit goal ahead of schedule.

Hesai Technology released its unaudited financial results for the third quarter of 2025 on Nov. 11.

Revenue reached RMB 800 million ($110 million) in the quarter, up 47.5% year-on-year, marking the sixth consecutive quarter of YoY growth. Gross margin remained steady at 42%, while operating expenses fell 23% YoY.

Net profit came in at RMB 260 million ($36 million), a record high, enabling the company to achieve its full-year GAAP profitability target one quarter early. Cumulative net profit for the first three quarters totaled RMB 280 million ($40 million).

With profitability ahead of expectations, Hesai raised its full-year net profit guidance to RMB 350 million–450 million ($49 million–$63 million).

Core operations continued to show strong momentum. Total lidar shipments reached 441,400 units in the third quarter, up 228.9% YoY.

ADAS-related products accounted for more than 80% of shipments, totaling 380,800 units, up 193.1% YoY. The robotics segment was particularly strong, delivering 60,600 units, representing more than a thirteen-fold YoY surge.

Hesai maintained its No.1 market share in the ADAS segment in the third quarter. The company secured two additional ADAS customers for full-line model programs in 2026, with plans to adopt 100% standard-fit lidar.

In the OEM market, Hesai said it has ranked first in primary lidar installations for seven straight months. Zeekr’s refreshed 001 and 7X models have begun shipping with Hesai lidar across all configurations.

Meanwhile, the ETX + FTX lidar suite secured its first volume passenger-vehicle program, designed to combine a primary lidar with multiple blind-spot units to deliver full-scene perception. Mass production is expected to start in late 2026 or early 2027.

By the end of September, Hesai announced its one-millionth annual lidar unit had rolled off the line, becoming the first lidar manufacturer globally to exceed one million units per year.

In the same month, Hesai completed a primary listing on the Hong Kong Stock Exchange, becoming the first lidar company to achieve dual-primary listings in both the U.S. and Hong Kong, and the largest IPO in the global lidar industry to date.

In robotics, commercial deployments of autonomous fleets are accelerating worldwide. Recently, Hesai signed partnerships with leading robotaxi and autonomous-truck operators including Motional, Pony.ai, Hello, and JD Logistics, spanning markets in North America, Asia and Europe.