Hesai Group reported third-quarter 2026 revenue growth of 34.3% as demand for lidar sensors from automotive and robotics customers increased, bringing total shipments to 729,673 units. The Chinese technology company generated net revenues of RMB1,068.3 million ($159.3 million) for the three months ended September 30, according to its results announced on November 10.
Despite higher sales and shipment volumes, net income declined 68.5% year over year to RMB80.8 million ($12.1 million). The decrease was primarily attributed to significant one-time income recorded in the same quarter of 2025 from the disposal of an equity investment and the transfer of intellectual property.
Automotive Lidar Shipments Drive Revenue Growth
Hesai’s total lidar shipments increased 65.3% compared with the third quarter of 2025, supported by growth in both advanced driver assistance systems (ADAS) and robotics applications.
ADAS lidar shipments reached 638,055 units, up 67.6% from 380,759 units a year earlier. Robotics lidar shipments increased 51.1% to 91,618 units, compared with 60,639 units in the corresponding period of 2025.
For the first nine months of 2026, Hesai delivered 1,829,671 lidar units.
Lidar segment revenue reached RMB977.8 million ($145.8 million), representing a 22.9% increase year over year. The segment generated operating income of RMB145.5 million ($21.7 million), up 88% from the previous year.
OEM Design Wins Expand Automotive Program Pipeline
Hesai reported several new design wins across its automotive lidar product portfolio, including programmes involving established global automakers and Chinese vehicle manufacturers.
Its ET-series main lidar secured design wins with five automakers, including a leading European manufacturer, Cadillac, Geely, Great Wall Motor and a major new energy vehicle manufacturer. The combined order book for these programmes exceeds 1 million units.
The FT-series blind-spot lidar received design wins from Leapmotor and a leading European automaker, while the AT-series main lidar was selected by Wuling for high-volume mass-market vehicle applications.
Hesai also secured potential export vehicle programmes with seven automakers, including Chery.
The company said it held a 43% share of China’s long-range ADAS lidar market in September 2026, citing Gasgoo. It also reported a 62% share of the global robotaxi lidar market in 2025, based on data from Yole Group.
Beyond automotive applications, Hesai announced a partnership with JD.com. The Chinese e-commerce and technology company plans to deploy more than 4 million robots, robotic vans and other intelligent machines over the next five years, creating another potential market for lidar technology.
Net Income Falls Despite Sixth Consecutive Profitable Quarter
Hesai recorded its sixth consecutive quarter of GAAP profitability, although its net income was substantially lower than the year-earlier period.
Net income declined to RMB80.8 million from RMB256.2 million in the third quarter of 2025. The company attributed most of the reduction to RMB185.1 million in one-time income recognised in the previous year’s quarter from an equity investment disposal and intellectual property transfer.
Income from operations fell 19.1% to RMB62.6 million, compared with RMB77.4 million a year earlier. Gross margin also decreased to 41%, from 42.1%.
For the fourth quarter of 2026, Hesai expects net revenues between RMB1.1 billion and RMB1.15 billion, equivalent to approximately $164 million to $172 million.
Robotics Business Expands Beyond Lidar Sensors
Hesai is also developing new business lines through its Strategic Growth Initiatives (SGI) segment, which includes the Kosmo 3D world data engine and robotic actuation modules.
The segment generated third-quarter revenue of RMB90.5 million ($13.5 million), while recording an operating loss of RMB82.9 million.
Shipments of robotic actuation modules reached 23,405 units, increasing 96.8% compared with the second quarter of 2026. Hesai maintained its full-year revenue target for the segment at RMB200 million to RMB300 million.
Andrew Fan, Hesai’s chief financial officer, said the business was expanding faster than initially anticipated.
SGI is scaling ahead of plan, with revenues for the first nine months already surpassing our original full-year target of RMB100 million.
The results highlight Hesai’s continued expansion in automotive lidar, particularly as automakers increase the deployment of advanced driver assistance technologies. At the same time, its growing robotics business provides an additional source of demand beyond passenger vehicles and autonomous driving applications.