Horizon Robotics H1 Revenue Rises 32.9% as Adjusted Net Loss Widens 25.4%

On Aug. 31, Horizon Robotics released its financial results for the first half of 2026. The company reported revenue of RMB 2.055 billion ($305.7 million), up 32.9% YoY.

Gross profit reached RMB 1.356 billion ($201.4 million), also up 32.9% YoY, while the overall gross margin remained at 66%.

However, revenue growth did not translate into improved profitability on an adjusted basis.

Horizon Robotics reported an adjusted net loss of RMB 1.671 billion ($248.6 million) for the first half, widening 25.4% YoY.

Under International Financial Reporting Standards (IFRS), the company reported a net profit attributable to shareholders of RMB 3.784 billion ($562.2 million), swinging from a loss a year earlier.

By business segment, shipments of the Journey-series chips reached 2.218 million units in the first half, up 12.1% YoY, driving revenue from products and solutions up 14.8% to RMB 926 million ($137.6 million).

Licensing and services revenue grew much faster, reaching RMB 1.129 billion ($167.8 million), up 52.7% YoY and accounting for more than half of the company’s total revenue.

The shift is partly related to Horizon Robotics’ push in recent years for an “ARM + Android” underlying licensing model.

This indicats that software, intellectual property and services are taking on a larger role in its revenue mix.

Mass-production programs remain the company’s core commercial foundation.

Horizon Robotics has secured nominations for nearly 500 vehicle models, including close to 130 models featuring mid- to high-level intelligent driving capabilities.

According to third-party data, Horizon Robotics’ share of the ADAS chip market for Chinese self-owned brands exceeded 50% for the first time in the first half of 2026.

Its share of chips used for urban Navigation on Autopilot (NOA) systems increased from 17.9% to 22.8%, moving up to second place.

At the same time, Horizon Robotics is seeking to reduce its reliance on the self-owned-brand market.

Through Tier 1 suppliers and partners including Bosch, Denso, Carizon, neueHCT and Amphenol, the company has entered the supply chains of joint-venture automakers.

As Chinese automakers accelerate their overseas expansion, Horizon Robotics is also expanding internationally and has secured nominations for more than 60 export vehicle models.

Carizon, the joint venture established with Volkswagen-backed Cariad, is a key part of Horizon Robotics’ push into the joint-venture vehicle market.

Under the current plan, Volkswagen Group’s L3 autonomous-driving capability based on the Carizon solution is scheduled to begin deliveries in the second half of 2027, with the technology later expected to expand into applications including Robotaxi.

Horizon Robotics remains in a high-investment phase. R&D spending accounted for 73% of revenue in the first half, and the company expects to reach break-even around 2028.

Founder and CEO Yu Kai said at the earnings briefing that the company remains confident of exceeding RMB 5 billion ($744 million) in full-year revenue.

This implys that second-half revenue would need to grow by more than 40% from the first half.

Yu also said development of the next-generation strategic chip, Journey 7, is progressing smoothly and that it is expected to enter the market in 2027.