Hesai reported its first full-year profit, driven by rising demand for its sensors used in electric vehicles and robotics applications.
The company posted a net income of 435.9 million yuan ($62.3 million) for 2025, compared with a net loss of 102.4 million yuan a year earlier. Hesai said it is the first LiDAR manufacturer globally to achieve full-year profitability under GAAP standards.
Annual revenue rose 45.8% to 3.028 billion yuan, supported by strong demand in both domestic and international markets. However, gross margin edged down slightly to 41.8% from 42.6% in the previous year, reflecting a higher contribution from advanced driver assistance systems (ADAS) LiDAR, which typically carries lower margins than robotics-focused products.
Total LiDAR shipments more than tripled, increasing 222.9% year-on-year to 1.62 million units. ADAS LiDAR shipments rose 202.6% to 1.38 million units, while robotics LiDAR recorded faster growth, surging 425.8% to 239,273 units.
Yifan Li said the company has secured design wins with all of China’s top 10 automakers and is expanding into lower-priced vehicle segments, including models priced below 100,000 yuan.
Hesai has also broadened its applications beyond passenger cars, recently partnering with Niu Technologies to supply solid-state LiDAR for electric two-wheelers.
Looking ahead, the company expects continued growth momentum. It forecasts first-quarter 2026 revenue of between 650 million yuan and 700 million yuan and has raised its full-year shipment guidance to between 3 million and 3.5 million units.
To meet increasing demand, Hesai plans to expand its annual production capacity to more than 4 million units this year.
