Hesai Q2 2026 revenues reached CN¥860.8 million (US$126.9 million), up 21.9% year-on-year, with advanced driver assistance systems (ADAS) LiDAR shipments rising 60.1% to 485,904 units and robotics LiDAR growing 193.4% to 142,371 units. Net income rose 60.0% to CN¥70.6 million (US$10.4 million) in Hesai’s fifth consecutive GAAP-profitable quarter.

Design wins in the quarter included Great Wall Motor for the ETX ultra-long-range LiDAR with production starting in late 2026, and Volkswagen covering multiple models across its China joint ventures. Li Auto extended multi-LiDAR adoption to its L6 model and GAC Toyota added the bZ7 to an existing platform partnership.

Hesai held a 44% share of China’s long-range ADAS LiDAR market for a 17th consecutive month in June 2026 per Gasgoo, and led the humanoid and quadruped LiDAR segment per GGII. Gross margin declined to 40.1% from 42.5% a year earlier on lower-margin product mix.

Strategic Growth Initiatives (SGI) recorded their first revenue contribution in the quarter, with full-year SGI guidance raised from CN¥100 million to CN¥200-300 million. For the third quarter of 2026, Hesai guides net revenues of CN¥1.1-1.15 billion, up approximately 38-45% year-on-year.

Chief Executive Yifan Li said the quarter marked a milestone in Hesai’s evolution into a full-stack platform for robotics and physical AI. The Picasso 6D SPAD chip is now production-ready, with the ETX LiDAR it equips advancing with robotaxi operators and global automakers.

Source: Hesai